Mastercard Donates $1.3 Billion to aid Africa’s Covid-19 Response

  Tuesday, June 8th, The Mastercard Foundation announced its efforts in improving Africa’s COVID-19 response with a whopping $1.3 billion donation.   How will the Mastercard Foundations’ funds be used?   The Mastercard Foundation’s $1.3 billion donation will be spread over three years to aid the manufacturing and delivery of vaccinations for more than 50 […]

Younger Generations Driving Digital Wallet Use And Debit Payment Over Cash/Credit

Millennial and Gen Z consumers have been impacted the most by the latest financial crises. Both have been financially affected by the Great Recession of 2008-2009 and the pandemic.  These events have caused significant unemployment rates and negatively affected many consumers’ credit scores. Because of these event outcomes, younger generations have an increased anxiety about […]

What is Multi-Factor Authentication?

Multi-factor Authentication (MFA) is an authentication method where a user is given access to an application or website after providing two or more verification factors. In addition to using a username and password to gain access to your apps, MFA requires the user successfully present one or more additional verification factors to an authentication mechanism. […]

China Officially Bans Financial Companies From Offering Cryptocurrency Services

Today – May 18, 2021. China banned financial institutions and payment service providers from offering any services related to cryptocurrency transactions.  This is China’s latest attempt to curb the digital trading market.  According to Reuters, “Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrency, such […]

Pandemic accelerated: 5 payment trends for 2021

p2p payments

The past year has been incredible for the digital and payments space. Due to COVID-19 we’ve seen a significant change in the way consumers shop and handle payments.  Over half of consumers surveyed by JP Morgan last year agreed that they used digital banking tools more frequently due to the pandemic than last year. We’ve […]

Will we ever become a completely cashless society?

The COVID-19 pandemic has accelerated many industries especially ecommerce and mobile payments. For example, the US ecommerce market grew 44% in 2020 – nearly triple in spending from 2019. In the UK, the numbers are nearly parallel with the US at 46% growth according to the Office for National Statistics. The push for contactless payment […]

P2P Payments: Do The Benefits Outweigh The Risks?

These days, there are many P2P options in the market, including: Apple Pay, Google Pay, Paypal, Facebook Pay, Venmo, Zelle and Square Cash. As we continue through our second year of the pandemic, mobile P2P payment apps and services have increased in popularity like never before. We know that perceived security is one of the […]

More bumps in the road for Bitcoin’s acceptance as payment

We’ve seen some major changes for Bitcoin in the past year. In the middle of March 2020, at the start of the pandemic, Bitcoin saw a significant low of just under $5,000 in line with the stock market crashing. Like the stock market, Bitcoin saw a huge rebound possibly fuelled by stimulus cheques and concerns […]

Microsoft warns of multiple threats while cleaning up infected Exchange servers

Four zero-day vulnerabilities were discovered by Microsoft on its Exchange Server product early January and were exploited by the Chinese threat group named “Hafnium”. A zero-day vulnerability is a security flaw that is known to the vendor but does not have a patch or update to fix the issue. Exploits occur before or on the […]

What is a virtual card and how can they help business?

Virtual cards are temporary credit card numbers that can be used to make purchases. They are designed to protect your actual account number from fraud. Virtual cards can be requested through your credit card issuer and are a great way to protect your identity when shopping online. The credit card issuer will give you a […]