About 2.8 billion mobile wallets were in use worldwide at the end of 2020, and the number is expected to jump 74% to 4.8 billion within five years, according to a recent forecast from global mobile-payment network provider Boku in conjunction with Juniper Research. While mobile-wallet...
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At the beginning of the COVID-19 lockdowns in early 2020, massive declines in spending were pervasive. Credit card spending in the travel and entertainment categories declined as much as 73% from the first week of March to the first week in April 2020. However, as the...
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Last year will go down in history for many things, but in retail circles, it will be remembered as the year that comps went out the window. So extraordinary were the impacts of 2020 COVID lockdowns that it has rendered traditional year-on-year sales comparisons meaningless...
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When was the last time you paid cash for something? Personally, it’s rare for me to even carry it these days. And with the rise of new mobile and digital payment options like Apple Pay, Samsung Pay, PayPal and Google Wallet, cash payments are only going...
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The financial services industry is in the midst of a significant transformation, accelerated by the COVID-19 pandemic. And given the key role digitization plays in the financial lives of more and more of the world’s population, electronic payments are at the epicentre of this transformation. Payments are...
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Nearly 70 percent of merchants said chargeback rates rose during the pandemic, according to a new report. The Chargeback Field Report, commissioned by Chargebacks911 and conducted by Censuswide, also found that among merchants who reported a change in chargeback issuances during the pandemic, the average...
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Last year was pivotal in the payments industry when the COVID-19 pandemic forced many businesses to rethink their business strategies and adopt new revenue streams. Despite its many downsides, the pandemic has proven the necessity for small companies to re-align their payment processes. Of the many options small...
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Fighting fraud and pushing back cybercriminals has become the central focus of cybersecurity – and for very good reason. Cybercriminals have proven themselves to be resourceful, technologically advanced and disturbingly successful at leveraging digital tools, making off with staggering sums in ill-gotten gains. Pushing back those efforts...
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Hyundai developed an in-car payment system that will debut in its upcoming all-electric Ioniq 5 crossover that will offer drivers the ability to find and pay for EV charging, food and parking — the latest example of automakers finding new ways to generate revenue and...
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As consumers constantly turned to ecommerce during the COVID-19 global pandemic, the amount of fraud in the ecosystem is also increasing. According to Nilson Report, by 2025, the total payment card volume worldwide is projected to be $56.182 trillion, with gross card fraud globally expected...
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