From different gathered data, it is clear that the pandemic affected businesses’ sales and general revenue across the globe. Firms that operate physical stores were hit particularly hard – the restrictions on movement hampered the influx of buyers. However, as the restrictions are gradually lifted, and in-store shopping is restored, these businesses are beginning to …
Started in the 90s, the iGaming industry has garnered a lot of attention from gaming fans. Reports published by Statista show that the iGaming industry will be worth $92.9 billion by the end of 2023. The industry includes casino games, sports betting, poker, slots, and the wagering carried out online. We have seen the biggest …
The pandemic has been harsh on our financial infrastructure and has brought sea changes in the fintech industry. Fintech companies started coming to the forefront since the previous year, helping to shape digital payments. In the previous year, people have taken to online shopping in large numbers, and today, almost every buyer is looking for …
According to new research, open banking users are expected to double up and reach 40 million by the end of 2021. On the other hand, payments are predicted to hit $9 billion by 2024. Juniper Research has predicted that the total number of API technology users aggregating bank accounts and gaining access to new services …
This week, the Consumer Financial Protection Bureau (CFPB), a consumer protection agency created by the Dodd-Frank Act of 2010, has filed lawsuits against a number of people and companies involved in student loan debt relief services. According to the CFPB, these companies illegally obtained consumer reports, charged illegal advance fees for services, and engaged in …
CFPB Files Lawsuits Against Student Loan Debt Relief Firms Read More »
Since March 2019, pro-democracy activists in Hong Kong have been staging massive rallies that often turn violent and destructive. Clashes between protesters and riot control police units have claimed more than 2,500 injuries and millions of dollars in damages. The lucrative tourism and retail industries of Hong Kong have also been deeply impacted; according to …
For many British consumers, using the ATM at their local convenience stores, which are colloquially known as corner shops, is the best way to access bank funds for free. The traditional arrangement consists of banks paying interchange fees to ATM operators; thus allowing account holders to enjoy free cash withdrawals they usually spend at the …
Planned Fee Schedule Limits Access to Free ATM Cash Withdrawals in the UK Read More »
In the world of cryptocurrencies, Bitcoin is the leading token in terms of circulation, but this has a lot to do with being the most valuable digital asset, which means that most transactions are related to speculative trading and investing. Ripple, a centralized digital currency that trades under the symbol XRP, gets more circulation than …
A Digital Version of the Dollar Will Take Longer Than Expected Read More »
Those who’ve spent any time in China as a tourist will know first hand just how difficult it can be to perform the seemingly simple task of paying for things with a format other than cash. One of the most popular forms of mobile payments in China is Alipay, and most people will use Alipay …
In terms of telecommunications and payment transactions, the United States is strangely out of step with the rest of the world in some aspects. Paper checks, for example, are still used by many companies. The adoption of EMV technology by American retailers was slow enough to cause anxiety among providers of payment processing services. As …
5G Communications Could Change the American Retail Landscape Read More »
Cash or plastic? When members of Generation Y are asked this point-of-sale (POS) question, they are more likely to choose plastic, but not necessarily a credit card. According to research by PSCU, a payment processing provider for American credit unions, older members of the Millennial Generation, those who are between the ages of 31 and …
The Millennial Generation is the Debit Card Generation Read More »
Resort fees: you think you’ve got a great deal on a hotel, only to find an extra charge slapped on once you get to checkout. For the most part, there’s nothing we can do about it, however Congress has just introduced an interesting new piece of legislation that could see the days of frustrating surprise …
In a $21.5 billion all-stock deal, Global Payments Inc., a global provider of payment processing technology and software solutions, merged with TSYS (Total System Services) to form a pure-play payments company using the name Global Payments, the largest merger of payment technology companies to date. Working with 1,300 financial institutions and 3.5 million merchant locations …
In the middle of August 2019, convenience store and supermarket giant Hy-Vee reported a data breach incident involving its point of sale systems. Few details about the breach were initially given; however, it took about a week for cyber security researchers to take a closer look at the situation and provide more information on the …
The Japanese government and Visa have teamed up in an effort to bring mobile payments to the 2020 Olympics in Tokyo. The payment giant is preparing new payment experiences for visitors, athletes, and citizens attending the 2020 Olympics, an effort that will support the “Cashless Japan” campaign that is designed to boost mobile payments to …
Visa Pushes for Mobile Payments at 2020 Olympics Read More »
Installment payments are currently being used with great success in other countries but it has yet to become prevalent in the U.S. Based on some recent news from Visa, that might soon be changing. The latest from Visa In June, Visa revealed its intention to enter the POS installment payment business. By using APIs, this …
Visa Introduces APIs for Merchants to Facilitate Installment Payment Plans Read More »
The Amazon-Apple Partnership Triggers an FTC Antitrust Investigation While Amazon offers a marketplace for buyers and sellers from around the world to find one another, the company also controls who sells major brands. For example, if you found a new pair of Nike sneakers for less than $100 at a discount store, you could not …
For some time people have been wondering whether or not the federal government would modernize payment processing, and they received their answer this week. The Federal Reserve Board announced that it is going to build a payment processing system that will be able to process payments in “real-time”. The new system has been coined “FedNow” …
Federal Reserve plans to update its payments system Read More »