Though more people than ever continue to pay with debit and credit cards, as well as digital wallets, several factors look like it will be a long time before the United States goes anywhere near cashless. The Numbers Say A lot, But They’re Not Enough Recently released research released by Square Inc. titled, “Is the Cashless Society All Hype?” shows...
Mass-transit systems and the support of the biggest issuers are fueling the movement of pay with contactless cards a part of everyday life. All stakeholders believe this will trigger to greater adoption of contactless payment options overall. The theory has been reinforced by Visa’s announcement that users of the 20 million contactless credit cards issued by JPMorgan Chase & Co....
As of early 2019, EMV chip cards have continued to increase share and the number of incidents of fraud have dropped significantly in the U.S., according to Visa. The Details on Visa’s Numbers Recently, Visa reported that 3.5 million U.S. merchant locations accepted EMV chip cards as of March, which was an increase of about 400,000. There were 3.1 million...
Last month, Visa acquired control of Earthport plc, which will enable account-to-account transfers. London-based Earthport is one of the largest ACH networks in the world and allows Visa to expand real-time payment capabilities to the public. Visa acquired Earthport for $320.4 million after a fierce bidding battle with competitor, MasterCard. The acquisition connects Visa to ACH and real-time networks in...
News circulated last month that Facebook had been meeting with credit card schemes, marketplaces, and other major companies in the hopes of raising a billion dollars in investments for its digital money project, Libra. Facebook’s hard work paid off. Facebook’s Libra cryptocurrency, which the social media heavyweight announced this week will debut in early 2020, has gained a firm backing...
Consumers want CBD and hemp products, and the numbers back it up. A Colorado-based marketing research company, BDS Analytics, and Arcview Market Research projects CBD sales in the United States to grow by more than $24 billion in 2024. The numbers are based on products expected to be sold at retailers and licensed dispensaries. The firm believes there is great...
As payment systems break down walls, providing greater access to larger pools of merchants, cybercriminals find weaknesses and seize on opportunities to infiltrate. Since fraudsters continue to evolve and become more sophisticated, payment facilitators need to pay attention so they can protect themselves. Get to know the latest high-risk trends that payment facilitators face. The Biggest Treats More than 1.4...
As interest in CBD products have risen, online merchants experience spike in transaction laundering incidents, threatening payment service providers. In general, transaction laundering often is used to process credit card transactions for illegal medications and intellectual property infringement. With the decriminalization of CBD and other hemp products, transaction laundering has been targeting this sector, making the promising CBD industry riskier...
Facebook’s stablecoin, Libra, allows people to shop and send money to others for nearly zero transaction fees. A person buys or cashes out the cryptocurrency online or a local exchange points, like convenience stores, while under a pseudonym of the individual’s choosing. Purchases can be made through Facebook’s Calibra wallet, which will be built into Messenger and WhatsApp, or other...
Though advocates have sung the praises of cryptocurrency, its entrance into the mainstream has struggled mostly due its volatility and favor with cybercriminals. Until now. Major retailers, including Amazon-owned grocery store, Whole Foods, as well as Crate and Barrel, and Nordstrom, have agreed to accept Bitcoin and three other kinds of digital currency. Regal Cinemas, Gamestop, Lowe’s, Office Depot, and...
