After major retailers, like Rite Aid, CVS, and Walgreens, announced their plans to test the market’s interest in CBD products, the former U.S. Food and Drug Administration (FDA) commissioner said the pharmacies could expect to run into regulatory problems. For example, Rite Aid started to sell creams, lotions, and lip balms that contain cannabidiol, which is a non-psychoactive ingredient in...
The groundwork has been laid for widespread U.S. contactless payments adoption, but what will be the impetus for actually taking shape is a mystery, according to the Federal Reserve Bank of Boston report, “Tap to Pay: Will Contactless Cards Pave the Way for NFC Mobile Payments in the U.S.?” Background on the Contactless Card and Mobile Payments Movement In 2015,...
With Brexit no closer to a resolution, financial technology businesses are taking matters into their own hands to prepare for its impact on cross-border trade. With all the uncertainties surrounding the U.S. and Britain, Veem and Tipalti are the most recent fintechs to look for new ways to entice people to trade with China. Recently, Veem, which is a mobile...
By 2021, eMarketer projects that 79.3% of smartphone users in China will be swiping, scanning, and tapping at point-of-sale machines. Meanwhile, only 30.8% in the U.S. and 22% in Germany will be doing the same. China’s Alipay exceeded 1 billion users with more than 700 million users in China alone, according to news reports. Additionally, more than 40 million small...
Samsung Pay is providing greater flexibility and possibilities to consumers in France. For the first time in France, PCS MasterCard prepaid card users can make mobile payments through Samsung Pay. Samsung Electronics France recently partnered with French card issuer Prepaid Financial Services to allow its fleet of PCS Mastercard prepaid cards to be loaded onto the Samsung Pay wallet. PCS...
Overall, people hopped on the cryptocurrency ecosystem quickly. With the right measures and forethought this means the blockchain has the potential to change financial services forever. It may have the power to revolutionize the payments industry, but cryptocurrency has to get through it’s growing pains first. The expansion of mobile payments will help. As more consumers use online and mobile...
The Apple Card is just another spoke in the wheel toward a full digital payment world. Last week, Apple Inc. announced its Apple Card, which boasts a MasterCard brand and is issued by Goldman Sachs Group Inc., will roll out this summer. The physical card, which is made of titanium and contains a contact chip, is emblazon with a card...
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...
Elavon/U.S. Bank informed customers in March that it will stop accepting any new applications for CBD merchant accounts. In its email to customers, it also stated it would cease working with existing CBD businesses within 45 days. Why Elavon Dropped the Ball | 4 Reasons Why Because of the regulatory environment and the uncertainty surrounding it: As a result of the...
ISO agents who want to compete and maintain healthy profit margins need to work with Integrated Software Vendors (ISVs), which incorporate payments into many software and hardware solutions. ISVs have already changed the look of the payments industry, so ISO agents need to take advantage of what they can do for them. They provide ISO agents with strategies to grow...
