Is using contactless payments secure? How do contactless payments work? Cash payments are slowly getting replaced by other payment methods, such as credit cards, debit cards and now contactless payments. Contactless payments are becoming increasingly popular for a good reason, they’re a secure and convenient way to pay. Contactless payments are one of the most...
The trend toward digitization has been building momentum over the past few years. Since the onset of the Covid-19 pandemic, it’s even faster, especially in the payment industry. Cash apps, digital wallets and card-not-present (CNP) transactions are replacing cash, checks and physical credit cards. Meanwhile, fraudulent activity across digital channels is ramping up. Merchants are...
COVID-19 has placed financial pressure like never before on companies and consumers. Banking institutions are forced to facilitate alternative payments and transfers with new automation, due to the increased number of e-commerce transactions and new consumer trends. A large proportion of people around the world made their first online purchase ever this year, with more...
The global wearable payments devices market size is expected to reach a worth of USD 80B billion by the year 2028, according to a new report by Grand View Research, Inc. Over time, payment systems have adapted to suit the needs of customers, such as increased convenience and reduced time while making payments. The growing...
Consumer and business behaviors change slowly, irrespective of the industry, for they require overcoming two key friction points: familiarizing oneself with new technology and going outside one’s comfort zone. Unless there is a dire need or a strongly enforced government or regulatory policy mandate, consumers and businesses are usually slow to change. How customer’s demand...
By 2030, Cards may linger, But digital and contactless payments will dominate. The future of digital payments is being created now with the adoption of contactless payments, new digital transactions such as buy online, pick up in-store, and reduced friction within the payments ecosystem. A report by experts and prepared by the Electric Vehicle Charging...
Payments fraud is a widespread and a difficult issue in the fuel segment. Fuel dispensers are a common target for certain types of fraud – and fuel merchants often lack visibility into the level and impact of that fraud. This causes a profitability issue all by itself, but the even bigger issue is that the...
Carrying cash could become a casualty of COVID-19. While its imminent death has been a long forecast, cash just keeps on living to pay another day. Cash may not be king in the U.S. market anymore, but reports of its demise have often proved to be a bit premature. U.S. consumers’ cash use has declined...
COVID-19 continues to shake the world, and the payments industry is playing a critical role in the response to, and recovery from this pandemic. There has been a shift in preferred payment methods as many consumers seek to avoid cash and embrace modern, digital payments. Even before the pandemic, global adoption of real-time payments was...
In the wake of the COVID-19 outbreak, more and more consumers are expecting to be able to pay for goods and experiences with contactless solutions. But why are contactless payments ideal for a post-pandemic world? Following the global pandemic, cash is out and touchless payments are in. We look at the top reasons why a...
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