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
Alternative payments have made their way into just about every facet of society, and now vehicles can be added to the list. In-vehicle payment solutions are increasingly being added into the dashboards of cars and trucks, so that the consumers get the convenience they are used to in their everyday lives on the road. Rather than having to pay with a smartphone or credit card, the vehicle connects with a driver’s bank card, for instance, and completes the payment automatically. Continue reading Next Up: In-Vehicle Payment Solutions
The gig economy workforce has taken the economy by storm, shifting the landscape for businesses around the world. From Uber to Airbnb, employers are no longer confined to hiring local talent or making long-term commitments, while independent contractors and freelancers gain the flexibility that side-hustles have to offer. According to the latest statistics, the global gig economy is worth $3.7 trillion and keeps expanding. Continue reading How The Gig Economy Is Disrupting Payments
The rise of alternative payment methods like digital wallets, mobile devices, and smart speakers has disrupted the traditional payment landscape across sectors, and travel is no exception. Travelers are no longer limited to using credit cards for booking their itinerary or paying with cash at the point-of-sale while abroad. They can even book a trip using Google Assistant technology and never have to lift a finger, let alone a credit card. Continue reading Pros & Cons of Relying on Alternative Payments When Traveling
Technologies, including artificial intelligence and the internet of things, coupled with the gig economy, have created a new standard for financial services. Consumers are no longer limited to the legacy systems that banks provide, and have begun experiencing more convenience.
Evidence shows that consumers are increasingly expecting features typically associated with digital technology like messaging, online shopping and smartphone-fueled ride sharing in financial services, according to MoneyLive Report 2019. Continue reading Payment Trends in the UK and the Baltics