How does the federal government send $3 trillion to individuals and businesses across the country? Not as efficiently as it could, said Erika Baumann at Aite Group, a fintech analytical firm. TCH — The Clearing House – owned by 25 of the largest banks operating in the U.S. — launched a real-time payments system late in 2017, named,…
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As another impact of COVID-19, some Chick-fil-A shops are not accepting cash payments. Medical reports have appeared indicating that currency bills can carry and retain the novel coronavirus. Food store employees are already working under precarious conditions and don’t need one more thing to worry about regarding their safety, so QSR chains like Chick-fil-A may…
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As an avid Apple Pay user, I read with interest a recent Quartz article on the worldwide growth of this digital wallet. According to the article, Apple Pay is on pace to account for 10% of all global card transactions; Apple Pay currently accounts for 5% of global card transactions and that number will double…
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While we were busy giving thanks here in the U.S. last week, Mastercard Europe was busy publishing some interesting data about peoples’ use of wearable technology to make payments. According to the press release, the use of wearables to make payments has increased eightfold since last year. That’s an impressive number. Granted, wearable payments was (and…
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At the end of last year, I predicted that we would not see many debit issuers issue contactless debit cards in 2019. There still aren’t THAT many financial institutions who have taken steps to go down that path, but they are the big ones. This week Bloomberg announced that Wells Fargo will be issuing contactless…
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After a flurry of high-profile universal mobile payment service introductions four years ago (Apple Pay, Google Pay, Samsung Pay), use of the services by consumers has generally softened. Should card issuers see this as just a speed bump or as the start of a disruptive customer detour? And what can issuers do to safeguard and…
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