Banks & Fees

26 Aug Mastercard to discontinue magnetic strip on cards

Posted at 09:20h in Banks & Fees, Contactless Payments, Credit Cards, Mobile Payments, New Technology, News by Eric

Mastercard is discontinuing magnetic strips on their debit and credit cards in the next few years starting in Europe by 2024 and having them completely phased out by 2033. While swiping cards aren’t going away immediately (as all cards require them currently), Mastercard will make magnetic...

30 Jul 5 Things to Consider When Choosing Payment Processing

Posted at 09:09h in Banks & Fees, Business, Contactless Payments, Credit Cards, Ecommerce, Mobile Payments, Our Merchants, Payments Security, PCI Compliance, Tips and Tricks by Eric

Whether you're a new merchant to the game, or making a switch, choosing the right payment processor can be an overwhelming process. With dozens or more options to choose from and confusing terms like merchant account or chargeback to name a few, choosing a payment...

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

Posted at 11:19h in Banks & Fees, Contactless Payments, Credit Cards, Ecommerce, Mobile Payments by Eric

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...

18 May China Officially Bans Financial Companies From Offering Cryptocurrency Services

Posted at 23:39h in Banks & Fees, Cryptocurrency, New Technology, News by Eric

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...

30 Apr Pandemic accelerated: 5 payment trends for 2021

Posted at 23:00h in Banks & Fees, Business to Business, Contactless Payments, Credit Cards, Ecommerce, EMV, Mobile Payments, New Technology, News, Payments Security by Eric

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...

25 Apr Will we ever become a completely cashless society?

Posted at 15:20h in Banks & Fees, Contactless Payments, Credit Cards, Ecommerce, EMV, Inspiration, Mobile Payments, New Technology by Eric

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...

18 Apr P2P Payments: Do The Benefits Outweigh The Risks?

Posted at 15:27h in Banks & Fees, Mobile Payments, New Technology, Payments Security by Eric

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...

01 Oct 7 advantages of digital payments during COVID

Posted at 11:09h in Banks & Fees, Contactless Payments, Ecommerce, Mobile Payments, New Technology, Our Merchants, Our Partners by Eric

The trend away from cash is nothing new and with consumers concerned about the health risks associated with handling cash, it’s no surprise that contactless and digital payment adoption is accelerating. According to a recent survey by the Electronic Transactions Association, 27% of small businesses in...

26 Aug Apple makes moves in the payment industry with Mobeewave acquisition

Posted at 13:00h in Banks & Fees, Business, Contactless Payments, Credit Cards, EMV, Mobile Payments, New Technology by Eric

Mobeewave Inc. a Canadian-based startup has been recently acquired by Apple. According to Bloomberg, the California tech-giant paid roughly $100 million USD for the company. What does Mobeewave do? Mobeewave developed technology that allows merchants to use their iPhones as mobile payment terminals. The technology allows you to...

29 Jul 7.5 Million Users Exposed By Dave Banking Security Breach

Posted at 11:46h in Banks & Fees, Business, Credit Cards, Data Breach, New Technology, Payments Security by Eric

Dave, the personal finance app and challenger bank, announced a security breach this Saturday. Dave is a unicorn tech company leading as a US challenger bank that offers free overdraft cash, budgeting, credit building and more. Approximately 7.5 million Dave users had their information exposed on a...