As “decentralized” digital currencies such as Bitcoin are becoming more mainstream, the world’s central banks are beginning to take notice. Many are exploring ways to jump on the virtual bandwagon, lest the money evolution passes them by. As central banks explore the use of a “digital complement” to cash, the term for this currency has become known as a Central...
The FedNow Service has revealed its 120+ participant roster as well as a more “narrowed time frame”, which is now 2023, for its initial launch. It has also revealed message specifications based on the criteria as set out by the International Organization for Standardization, (ISO). The FedNow ISO 20022 requirements will determine the formats and message flows that this service...
In an interview conducted by The PayPers, Zack Powers, the Director of Payments Strategy at FareHarbor, was asked what the current climate of payments within the travel sector looked like in the aftermath of the pandemic. FareHarbor is a company that was founded in Hawaii back in 2013. It specializes in creating robust solutions that assist tour and activity operators...
The distribution of the third round of stimulus checks has produced a windfall for Visa Inc. As the U.S. government delivered direct payments to millions of struggling Americans, the credit card network saw their volume on U.S. debit cards soar 31% to $806 billion due to the boost in consumer spending. Overall spending on the company’s debit cards reached $2.4...
Throughout the Covid-19 pandemic, a surge in demand for contactless payments has emerged as more consumers feel more confident in pursuing this way of purchasing over any other method. In fact, according to Visa UK, two-thirds or 65% of consumers worldwide would rather use contactless payments more than they currently are. Throughout Europe, more than 80% of all Visa payments...
The European Banking Authority or (EBA) has had its email servers jeopardized in what is believed to be a “global Microsoft Exchange cyber-attack.” The EU organization revealed that personal information may have been retrieved from its servers. As a safety measure, it has since pulled its entire email system offline as it investigates the damage. Part of its investigation is...
Invisible payments come with visible advantages and risks. Given merchants are now dealing with a rapidly evolving market, invisible payments are gaining more and more traction. Follow the lines below to dig deeper into the topic and find an exceptional payments expert to work with. Invisible Payments The explosion of new technologies has accelerated the growth of the payments industry....
A frictionless accounts payable and receivable strategy enables easy access, hassle-free management, and effortless payment information interpretation. Nevertheless, complicated processes and obsolete technologies can be a significant stumbling block. Businesses accepting payments must be ready to pair all received funds with the various invoices. A slight mistake like claiming an invoice that has already been paid can ruin the customer...
Open Banking is already put into implementation. Countries apply it as part of their broader agenda aimed at modernizing their national financial ecosystems. This article is about this new trend and its implementation in Brazil and the U.S. Also, it’s about reliable and affordable merchant processing services from a reputable provider. Open Banking in Brazil What’s open banking? It encourages...
Bitcoin has reached “market capitalization” of $1 trillion, thanks to its growing acceptance among investors and companies such as Tesla and Mastercard. This event has dispelled any warnings from analysts who claim Bitcoin to be an “economic sideshow” and a “poor hedge”, should stock prices drop. Analysts and investors, however, still remain unimpressed and highly skeptical of Bitcoin. They maintain...
