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 […]
Retail Sales Have Plummeted In Hong Kong Read More »
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
![5G Communications Could Change the American Retail Landscape [2023 Update]](https://www.hostmerchantservices.com/wp-content/uploads/2019/11/5g-communications-1024x682.jpg)
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 [2023 Update] 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
US Congress Takes on Resort Fees Read More »
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
Global Payments, TSYS Complete Merger Read More »
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
Hy-Vee Data Breach Read More »
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
Amazon & Apple May Have Pushed Their Luck Read More »
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 [2023 Update] Read More »
Sweden is known for its technological advancements and may soon become the first cashless society as 80% of all transactions involve credit card processing with many Swedes no longer carrying cash at all. Now, thousands of Swedes have taken technology one step further by implanting microchips under the skin to replace credit cards and even
Swedes Replace Credit Cards With Microchips [2023 Update] Read More »
As a merchant, network security should be a top concern when it comes to credit card processing. The most vulnerable place for credit card data is on the merchant side of the transaction before it’s sent to the payment processor. This is why PCI compliance is important to ensure the security of a merchant’s payment
Importance of Network Security – The OnePlus Credit Card Hack Read More »
Android Pay is no more. On January 8, Google announced that it will combine Google Wallet and Android Pay under a single brand called Google Pay. This move will merge all of the ways to send payments and make purchases with Google into a single product. Prior to this merge, Google’s payment system was a
Android Pay and Google Wallet Merge Creating Google Pay Read More »
Digital or virtual currencies have gained popularity over the years. They have completely transformed our perception of money and transactions. Today we will delve into the world of blockchain cryptocurrencies exploring their definition, potential future uses, as well as, their advantages and disadvantages. Defining Blockchain Cryptocurrencies Blockchain cryptocurrencies often referred to as cryptocurrencies are forms
What Are Blockchain Cryptocurrencies? 2024 Updated Read More »
Millennials between 18 and 34 are a significant market segment for banks and other financial institutions to attract and retain. More than 83 million millennials are now in the U.S., representing one-quarter of the country’s population and a larger share than baby boomers. Most millennials have spent their entire lives with technology and have very
How Banks Are Adapting to the Demands of Millennials Read More »