Cryptocurrency has been lauded for its many innovative benefits: its confidentiality, security, and flexibility. Unfortunately, things may have taken a turn for the worse as this digital currency faced one of its biggest challenges. A total of $300 million was embezzled from cryptocurrency accounts in 2020. Most of these scams were made up of phone number hijacking, fake crypto exchanges,...

It was a banner year for the Cannabis industry in 2020. Legal sales nationwide hit an astounding $17.5 billion, which was a 46% jump from 2019. According to BDSA, a cannabis sales data platform, the majority of the sales growth hailed from established “adult-use” markets in Colorado and in Oregon. Colorado increased sales by 26% to reach $2.2 billion. Oregon...

The mobility industry is undergoing rapid, evolutionary change with the rise of digital technology. What is driving this innovation is a host of factors, including: changes in social attitudes, rapid advances in technology, advances in engineering which have led to energy-efficient modes of transportation, as well as artificial intelligence, which are leading the way to “smarter travel.” The pandemic outbreak...

Contactless payments have surged since the outbreak of the COVID-19 pandemic. Companies worldwide have struggled to pivot their operations to accommodate the new mandates of social distancing and limiting as much contact as possible between customers and employees.  Some organizations have explored the use of the ever-ubiquitous smartphone to convert it into a powerful payment processing unit. Instead of using...

The Fraud Economy continues to experience growth as fraudsters did not slow operations during the pandemic. Always on the prowl, seeking vulnerability and weak links (like the pandemic), these opportunistic bad actors are ready to attack when the coast is clear.  In 2020, experts have reported that as much as 1 Trillion USD had been lost due to cybercrime worldwide.  ...

The vaping industry has exploded in such a way that many cannot resist getting in and have their share of this lucrative pie. It is estimated that by 2025, the industry is set to be worth $61.4 billion.  Euromonitor, a market research group, has reported that an estimated 55 million adults will be vaping by 2021.  Perhaps all these impressive...

In the US, real-time payments continue to grow as FIS Inc. launches RealNet. RealNet is a cloud-based software-as-a-service platform or (SaaS) that allows consumers, businesses, and governments to embark on account-to-account transactions.  Known as a “network of networks”, RealNet will take advantage of The Clearing House Payment Co. LLC’s real-time payment network alongside the automatic clearing house’s same day networks...

The pandemic has considerably shifted the mindset on digital currencies. Initially, the question was whether digital currencies had the potential to succeed. Now, the questions being asked are how and when digital currencies will reach mainstream status. According to Deutsche Bank Research, payments using cryptocurrencies will escalate. What could possibly hinder extensive use is the great amount of energy consumed....

Google Maps has collaborated with Google Pay to pay for both street parking and transit fares. This can be done directly off the Google Maps app and without needing to take out a  wallet. With more consumers reluctant to touch public surfaces, an integration with Passport and Park Mobile allows them to pay the meter directly off of driving navigation...

The payment space is evolving at such a rapid pace. Many solutions being developed today are aiming at providing increased speed, more efficiency, and transparency. When the pandemic took the world by surprise, it also shook the modern payment system world. Suddenly, payment systems went from cashless to contactless. It also radically changed how everyday businesses would operate. What Is...