moreOn this year's second-quarter earnings calls, businesses around the country announced past profits and future initiatives to their shareholders, but none had quite as much to share as financial giants Visa and PayPal. On July 21, the two companies announced a deal that will propel PayPal's push to the in-store market while extending Visa's presence online. Under the partnership, PayPal will stop steering users away from linking their Visa cards to their accounts. Previously, the company encouraged users to connect their bank accounts directly to their PayPal wallets instead, so that PayPal could process payments with ACH's low fees rather than pay card processing fees. In exchange, Visa will include PayPal in its Visa Digital Enablement Program, which allows …
moreLast October's EMV deadline handed merchants across the country a new ultimatum: Upgrade your terminal to accept EMV card payments or assume responsibility for any fraud that comes from the less secure magnetic-swipe transactions. Still, almost a year later countless retailers have yet to adopt the hardware they need to accept chip cards at the point of sale. What they may not realize, however, is that most EMV terminals also include the near-field communication technology required to accept tap-to-pay options, such as mobile wallets and contactless cards. Therefore, by failing to update their POS terminals, not only are merchants eschewing chip cards, but they are also missing out on a chance to accept a rapidly growing payment style that could benefit both them and their …
moreFor every retailer, accepting card payments brings a few major benefits, including improved cash flow, security and customer access. While direct perks like these often motivate individual businesses to adopt an electronic payment program, new research shows that the proliferation of electronic payments can have a massive impact on the national economy as a whole. When consumers opt to pay electronically, whether online or in person with a card, both they and the retailer are rewarded with convenience. Shoppers don't have to visit the bank as often to restock on cash, and never have to worry about delaying a purchase because their wallet is empty. Plus, they're able to buy the products they want without experiencing the pain of parting with their cash. On the other side of …
In the wake of the recent e-commerce explosion, companies and consumers alike are becoming more comfortable making and receiving payments online. Despite this convergence in the consumer sphere, many churches, schools and other nonprofit organizations have yet to bring their giving programs online, limiting an increasingly tech-savvy populace to making donations via check or over the phone.
While this delay may be due in large part to tight budgets and the belief that technological solutions are too expensive, it is now more affordable than ever to bring business online. Plus, engaging potential donors via the internet creates opportunities to vastly increase giving, such that web-based solutions can pay for themselves quicker than ever.
Here's how adding an online element … more