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...
In an effort not disenfranchise any consumer, Philadelphia became the first U.S city to ban cashless stores, including restaurants. Philadelphia isn’t the only place that outlawed cashless businesses. New Jersey Gov. Phil Murphy signed a similar ban into law on March 18. Even at a time when society continues to pay for more goods and services with digital wallets and...
On March 5th, FDA chief Scott Gottlieb signed off on his official Twitter account, setting the stage for him to formally leave the office he held since May 2017. Now, Ned Sharpless, director of the National Cancer Institute, will take the reigns as acting FDA chief until the vacancy is permanently filled. The loss of Gottlieb has left uncertainty among...
The regular IT and security failures at British banks make it a longshot to become a cashless society any time soon. British banks experience 1.2 IT or security failure each day, according a comprehensive analysis by consumer group, Which? The glitches prevent customers from making payments. During the last nine months of 2018, the consumer group found that 302 IT...
The market value of global point-of-sale terminals Market valued approximately $54.7 billion in 2016 and is anticipated by more than 11.20%, according to Big Market Research. Companies also are focusing more on software due to increased penetration of smartphones. Movement beyond hardware means embracing software and services, which is a trend that will last for years for both providers and...
As of December 2018, more than 3.1 million merchant locations accepted EMV (Europay, MasterCard, and Visa) chip cards, according to Visa. This is a 692% increase since the beginning of EMV migration in 2015. As of the end of last year, there were 511.1 million EMV chip cards in circulation in the United States, which is a 221% increase since...
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...
More than 43% of global iPhone users have enabled Apple Pay, according to estimates from the venture capital firm, Loup Ventures LLC. This means that Apple Pay adoption reached 43% of iPhone users. What’s Driving the Boom? Since its launch in 2014, Apple Pay has continued to gain support from retailers and iPhone users. The Minneapolis-based venture firm based its...
Same-day ACH transactions climbed to $51 trillion last year, proving that everyone is embracing instant payments. NACHA, the electronic payments association, recently announced that 2018 was a milestone year for the ACH Network. Payment volume rose by almost 1.5 billion, making it the fourth consecutive year to add one billion new payments to the network. In 2018, ACH Network volume...
By 2025, the global chatbot market is projected to reach $1.25 billion, according to a report by Grand View Research. The industry is expected to thrive as more businesses realize chatbots help significantly reduce operating costs. This is why it is no surprise that chatbots have nestled into most sectors, including retail, healthcare, and even banking. Research show it will...
