North America has been known for their preference for plastic for some time, with credit cards being the top consumer payment method. Recently, however, the spotlight has begun to shift to mobile-payment methods. Thanks to the COVID-19 pandemic, these trends are beginning to pick up even more speed. As consumers become more open to new methods of payment, more and...
Reliable high risk credit card processing and an optimal m-commerce payment option will boost sales. As e-commerce has continued to enjoy a fast growth rate for the past several years, there is another major player making headway into becoming just as mainstream. Mobile commerce, also known as (m-commerce), sales are flourishing thanks to consumers’ increased dependence on their mobile devices...
For mobile wallet use to really take off, companies are going to need to bring a little something extra the table. People like getting rewards, discounts, and other perks from using credit cards. When mobile wallets get in on the action by offering incentives for usage, expect use to blossom. Some Background on Mobile Wallets Experts in the payment industry...
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....
