The Coronavirus pandemic has changed the way we travel, work, study, interact, and shop! When we say shop, it has also impacted the way we make our payments. One of the frequently-used buzzwords that have surfaced over the last few months is ‘contactless payment.’ (more…)
As a business owner, you would agree that processing every single consumer purchase is a complex task. It takes entire teams of inventor managers, accountants, and banking officials taking note of the cash that flows in and out. Adding a faster payment method can make things a lot easier for your business.
Here’s how: (more…)
Over the last few years, self-checkout counters have seen a massive surge around the country. Stores like Walmart, Kroger, and Target were a few of the first major retail stores to implement the technology. According to Forbes, this serves two purposes: (more…)
Although contactless payment technology is gaining traction with each passing day, checks are still used in many industries as a popular payment mechanism. If many of your customers prefer to pay you through checks, maybe investing in a check reader is something you should consider. (more…)
In today’s digital age, customers expect quick, real time payments. It’s the same story when it comes to refunds, disbursements and payouts. However, with credit cards becoming increasingly popular payment mechanisms, making payouts can be quite challenging for online businesses. Well, this is where Original Credit Transaction (OCT) comes in. (more…)
Contactless technology is nothing new. It’s been with us for over two decades now, and countless businesses and institutions around the world use it today to conduct transactions, easily, quickly and securely. In fact, Visa says that 48% of its in-person transactions (excluding the U.S) are contactless. This includes more than 50% in Canada and the U.K, and a staggering 90% on Australia. (more…)
It’s safe to say that the integration of the internet and smartphones has irrevocably transformed consumer behavior and raised the level of expectations. The modern consumer simply doesn’t settle for anything other than uninterrupted, seamlessly functional user experience—particularly in the payment processing area. What they want is a multichannel and personalized approach that works seamlessly on all of their digital devices. (more…)
Credit card fraud is one of the most common forms of financial crimes reported on a global scale. Back in 2018, nearly $24.26 billion was lost to credit card fraud— the instances of fraud have tripled since 2014 to reach as high as 160,000 reports throughout the US alone. Additionally, the increasing use of digitized payment methods and online card payments has put consumers at higher risk of financial fraud than any other. (more…)
Digital payments are causing massive shifts in payment processing throughout the hospitality industry. Consumers are increasing pressure on service providers to offer more digital payment options that are convenient, faster, and safer. Research indicates that digital payments will be worth $132.5 billion by 2025, growing at a rate of 17.6% during this time. (more…)
Contactless payment systems are one of the more recent developments in the digital payments industry. Making use of Near-Field-Communication systems that you find in all recent phones, contactless payment methods let you make payments through your phone. The global leaders for this technology include Google Pay, Apple Pay and Samsung Pay—pushing forward the growth of proximity mobile payment transactions to nearly $314 billion. (more…)