Visa Q3 Earnings Boast Strong Consumer Spending Despite Economic Concerns

“Consumers are using their cards to pay for everything” is not too much of an exaggeration in today’s market.   Visa’s Q3 results posted July 26th, highlight a significant increase in consumer spending since the beginning of the pandemic. Overall payments volume increased by 12% year over year to $2.9 trillion nominally.   The most […]

Stripes Fees Broken Down

Stripe, the financial services company, boasts “always know what you’ll pay.” But for many businesses it’s much more complicated than simple, pay-as-you-go pricing. In addition, almost all businesses have direct and indirect costs associated with the tools they use. So how much are Stripes fees really? In terms of direct costs, Stripe charges ~2.9% + […]

Friendly Fraud? What merchants need to know

Data breaches, and payment card fraud are growing concerns for merchants as transactions become more and more digitized. One form of fraud that’s troubling merchants and often overlooked is first party misuse, also known as friendly fraud or chargeback fraud. When we think about fraud we typically think about stolen identities or stolen credit cards. […]

Elon Musk Wants to Integrate Payments Into Twitter Including Crypto

This Thursday, Tesla CEO Elon Musk spoke at his first all-hands meeting with Twitter’s employees answering many questions about how he plans to run the social media company.   Elon has agreed to purchase Twitter for roughly $44 billion and during the meeting, Musk suggested integrating payments into Twitter. Leslie Berland, Twitter’s CMO, asked Elon […]

Visa Leverages AI to Get Rid of Pending Charges

One of the biggest consumer aggravations in using payment cards is a little process that creates a huge bottleneck. The bottleneck is none other than the “Pending” charge.   Pending charges are essential in day-to-day finances, but can cause confusion. In short, consumers use their payment cards to pay for goods and services, banks authorize […]

Apple, Microsoft and Google Join Forces to Achieve Passwordless Sign-Ins Across platforms

On May 5th, World Password Day, we became one step closer to easier and more secure password management.   The FIDO (Fast IDentity Online) Alliance, an open industry association whose mission is to develop and promote authentication standards that “help reduce the world’s over-reliance on passwords”, announced it has received support from Apple, Microsoft and […]

5 Reasons Virtual Cards Benefit Business in the Work-From-Home Era

The work-from-home trend has created a unique opportunity for virtual cards to become common practice in businesses today. Virtual cards not only offer a range of flexible features for all users but also help businesses manage their corporate spend more wisely. Dan DeVall, VP of business development at Airbase believes that “80% of buyer-supplier transactions […]

Consumer Groups and Banks Want Stricter Buy-Now-Pay-Later Regulations

Consumer groups and banks are pushing the Consumer Financial Protection Bureau (CFPB) for better oversight on Buy Now Pay Later (BNPL) services as the terms and conditions for repayment plans are too difficult to understand for many consumers. While BNPL companies already have installment loans covered by many federal finance laws, the lack of consistency […]

Financial institutions worry that Russia will target SWIFT system

Over two weeks ago, the European Union decided to ban seven Russian financial institutions from the Society for Worldwide Interbank Financial Telecommunications (SWIFT) messaging system. SWIFT the world’s leading financial messaging system that allows for secure and reliable banking transactions between institutions globally. The SWIFT network is critical to global banking. Over 11,000 financial institutions […]

Risk Free, Buy Now Pay Later? Think Again

With convenience comes unexpected costs   Over the past few years, Buy Now Pay Later or BPNL has become an increasingly popular option to make payments at retailers. BNPL spreads your payments over time, in weekly to monthly increments until the purchase is paid off. Typically these plans are interest free. BPNL payment schemes are […]