Merchants’ “lack of routing choice” in e-Commerce costs them “billions of dollars each year”, according to the Merchants Payment Coalition (MPC). The MPC is a trade group that represents gasoline, supermarket, convenience store, as well as other retail chains. Larger merchants have been pressing for the Fed to make much-needed changes to the current rules that govern transaction routing and...
The mobility industry is undergoing rapid, evolutionary change with the rise of digital technology. What is driving this innovation is a host of factors, including: changes in social attitudes, rapid advances in technology, advances in engineering which have led to energy-efficient modes of transportation, as well as artificial intelligence, which are leading the way to “smarter travel.” The pandemic outbreak...
Contactless payments have surged since the outbreak of the COVID-19 pandemic. Companies worldwide have struggled to pivot their operations to accommodate the new mandates of social distancing and limiting as much contact as possible between customers and employees. Some organizations have explored the use of the ever-ubiquitous smartphone to convert it into a powerful payment processing unit. Instead of using...
As COVID-19 has interrupted many lives and continues to do so, finances continue to be at the forefront of concern for millions around the world. With bank closings or operating at limited hours or by appointment, consumers have had to find other ways to access their funds and make their purchases. Today, consumers are opting for digital banking in order...
The Covid-19 outbreak has ushered in a dramatic surge in digital forms of payment. This is great news for e-Commerce businesses. However, along with the dramatic boost in online sales, there is also an equally dramatic boost in cases of fraud to contend with. The sudden acceleration in fraud was fueled by the fear and uncertainty that millions around the...
In Asia, there’s an unprecedented rise in digital payments. Such growth provides the region with a unique opportunity to develop payment systems based on blockchain technology. If you’re interested in more details concerning the digital payments growth in the region and want to find an exceptional payment processor to work with, you’re at the right place. Digital Payments Growth in...
After a “closed” beta launch in India back in 2018, WhatsApp announced the launch of digital payments in Brazil. According to WhatsApp’s blog, users will be able to safely send money or purchase something from a local business without having to leave the chat feature. Brazil is the second-largest market after India, with over 120 million “individual users”. With more...
Using eCommerce integration will facilitate convenient and safe shopping for customers. Since news of the COVID-19 pandemic broke, many older adults, concerned about complications from contracting the virus, have chosen to take extra precautions by not venturing out to purchase the goods they need. Instead, they have turned to online shopping and other contactless means of purchasing. According to eMarketer,...
In 2018, the highly anticipated “True Cost of Fraud Study for the Retail Sector by LexisNexis® Risk Solutions, was released, revealing the true challenges that fraud is posing for retailers nationwide. Some of the fastest growing incidents of fraud keep stemming from card-not-present and mCommerce fraud. The 2018 study also demonstrated that losses due to fraud were up 6% from...
Since the COVID-19 lockdowns began, shopping habits have changed dramatically. Consumers are turning to online shops to purchase everyday items like groceries, medications and other basic supplies that people would normally purchase at their local, physical store. The uncertainty around the situation has also led to panic buying and larger volume purchases than previously seen before the pandemic. This has...
