Payment processing firm, Allied Wallet, its owner, and two other officers recently settled charges that they participated in many schemes in which they knowingly processed fake transactions to customers’ accounts. Allied Wallet, its owner and CEO, Ahmad Khawaja, its chief operating officer, Mohammad Diab, and its former vice president of operations, Amy Rountree, agreed to settle the Federal Trade Commission’s...

Wells Fargo & Co. recently announced it is launching contactless cards, which allow customers to tap and pay at retail stores and public transit hubs. The bank has already started handing out contactless cards to those who pen new consumer credit card accounts. Existing credit card customers will receive contactless versions when their current ones expire. Later this year, the...

Though many have embraced using mobile wallets and contactless payments, cash isn’t expected to go anywhere soon in the U.S. It may no longer be the king it once was in places like Sweden and China, where people are rushing toward cashless societies, but people in this nation aren’t abandoning their cash yet. With people still using paper money and...

At the heels of Visa’s decision to move to contactless cards in the U.S., MasterCard is following suit. As the momentum for contactless payments grows, MasterCard sought and received commitments from issuers to produce contactless cards within the next two years. Those issuers include Citibank, Capital One, KeyBank, Santander and HSBC. It also is working with FIS to bring contactless...

Mobile is more than here to stay – it is taking over. Many consumers no longer use a laptop as their main device, in or out of the office. Tablets and smartphones are not only the device of choice for online shoppers, but also for inside the office. If your business has an online presence, you know how important it...

The use of smartphones in processing credit card payments is not a new thing to many. In fact, the practice is currently well accepted, thanks to its affordable setup costs and few-commitment contracts offered by most service providers. It’s no surprise that most merchants are beginning to rely exclusively on free Android and iPhone mobile processing apps as their main...

According to the 5th annual ING International Survey, cash is fast becoming less popular among consumers in Europe, the US, and Australia. Alternative forms of payment are increasingly gaining more popularity. The survey included responses from 14.692 respondents based in 15 countries. Nearly 27% in Australia, 21% in Europe, and 34% in the US said they mostly preferred cashless payments....

Consumers tend to be positive about loyalty programs, mobile ads, and chatbots and they like making a purchase from a smartphone, though they were somewhat reluctant to change their payment habits when mobile wallets appeared years ago. Retailers like Starbucks and Dunkin’ Donuts are succeeding thanks to their mobile wallets and corresponding loyalty programs. These merchant wallets are leading the...