Financial fraud is a growing concern in the modern commercial market. One of the most common targets of financial fraud is theft through credit and debit cards which use magnetic strips to record the customer’s account details. The latest figures tell us that nearly $27.85 billion were lost to credit/debit card theft and these numbers are projected to reach $35.67 billion in the next five years. (more…)
It may seem a little harsh to say this—but human processes are always slower than automated ones and a program always does a better job than a human. Cashier-based transaction processes are slow, prone to errors and require customers to wait longer to complete their purchases. The internet of things and automation enable retail service providers to eliminate these inefficiencies in the form of self-service checkout systems. (more…)
Evolution of the payment systems from cash registers to e-wallets has made payment methods considerable easier. In the wake of rising digital mode of payments, the following infograph explains how you can prevent contactless payment frauds. (more…)
If we were to develop a timeline of the evolution of money, it would go something like this:
Self-order kiosks and automated food ordering systems are all the rage in the restaurant business. It’s a trend that’s gained momentum specifically after McDonald’s started investing in heavily in self-order kiosks to improve on service provision capacities. (more…)
As a business that sells products or services, you have two primary ways of collecting payments: Point of Sales systems (POS) and traditional payment terminals. Point of Sales refers to a…