Contactless cards have already taken the payments industry by storm. The rise of the online world has made payments faster and more convenient than ever. Now the industry is embracing the next wave in this revolution, which involves collecting biometrics data and storing it on a contactless payment card. As a result, consumers can pay using a fingerprint, handprint, iris identification, or voice recognition at the point-of-sale. Continue reading Biometric Contactless Cards Take Payments to the Next Level
Fintech covers a wide swath of companies that deliver technology innovation to the financial industry. Consumers have embraced fintech, also known as “on-demand finance,” thanks in large part to the rise of mobile devices and the shift to cloud computing. Billions of dollars in investments continue to pour into this space giving startups and legacy players alike a chance to shape the future of financial services.
Digital payment startups are among those at the forefront of the fintech movement, having disrupted the global landscape and continuing to grow. The following trends reveal key ways in which fintech space keeps evolving. Continue reading As Fintech Matures, New Trends Emerge
Challenger banks have struck a chord with customers and investors alike as the tech-savvy and more nimble alternative to traditional financial institutions. Also known as neo banks and upstarts, challenger banks are a product of the financial technology (fintech) revolution born from the financial crisis, and no single group poses more of a threat to their legacy bank counterparts. Continue reading As Challenger Banks Mature, Headwinds Emerge
Social media is increasingly making its way into the payments arena, giving providers another way to capitalize on this rising trend. Social payments are especially popular among millennials and Generation Z consumers, who have not only helped to form the social media movement but some of whom have never known a world without mobile devices, where e-commerce and peer-to-peer (P2P) transactions are on the rise. Continue reading Social Payments Catch on Among Young Adults
Small businesses are getting better acquainted with payment cards. Most recently, payment platform Square has launched a new debit card for merchants. The card is tied to the merchant’s account balance, not a bank account, and it can be used as a tool to help business owners to better control their cash flow. They’ll gain access to funds in real-time rather than having to wait for customer payments to settle, which can typically take couple of days. Continue reading Business Owners Embrace Contactless Payments Around the World