article thumbnail

Scrapping the £100 Contactless Limit: What It Means for Consumers, Merchants and Security

The Fintech Times

.” A win for wearable tech, but security is key Derrick Lynagh, MuchBetter Derrick Lynagh , head of strategic sales and partnerships at MuchBetter, a digital payments company known for its wearable payment devices, sees the potential removal of the contactless cap as a major opportunity for wearable payment providers.

article thumbnail

Offline settlements with a digital pound: Lessons from the BoE’s report

The Payments Association

Simon Treacy Financial Regulation Counsel, Linklaters “The Bank of England is cautiously exploring a digital pound, confirming offline functionality is technically feasible, though not without trade-offs like secure hardware and balance caps. Key policy questions remain unresolved, including liability, privacy, and consumer demand.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

100+ Payment Industry Terms Explained in Plain English

Clearly Payments

EMV Chip technology on credit cards. Chip & PIN EMV transaction that requires a PIN instead of a signature. Volume Cap A limit on how much a merchant can process per month. law that caps debit card interchange fees for large banks and encourages routing choice for merchants. Swipe A magnetic stripe transaction.

article thumbnail

Small Business Guide to No-Fee Credit Card Processing

EBizCharge

If you’re running a small business, you know the drill: every card swipe chips away at your bottom line. Fees must not exceed the cost of credit card processing (typically capped at 3%). Its system automates every step, from registering with card networks to applying fee caps and managing real-time disclosures.

article thumbnail

The Price of Convenience: Is There Such a Thing as Free Credit Card Processing?

Stax

This way, the business can recover the fees that would otherwise chip away at their margins. Colorado, for example, caps surcharging rates at 2% or the actual costs the business pays for processing. This is typically achieved through a surcharging model, where a small fee is added to the customer’s total when they pay by credit card.

article thumbnail

Best New Fintech Products & Trends of 2024

Fintech Labs Insights

mo Klarna 24 Jan 2024 BNPL Consumer CNBC Klarna is first BNPL serices with subscription ($7.99/mo) mo Klarna 24 Jan 2024 BNPL Consumer CNBC Klarna is first BNPL serices with subscription ($7.99/mo) mo Klarna 24 Jan 2024 BNPL Consumer CNBC Klarna is first BNPL serices with subscription ($7.99/mo)

Product 12
article thumbnail

Tokenised Stocks: What They Are, What They Aren't, and Why They Matter

Finextra

For markets where investors have historically been priced out of blue-chip stocks, tokenisation is a game changer. This fractional ownership isn’t entirely new (some traditional brokerages offer fractional share trading), but blockchain makes it easier and potentially more universal. That said, tokenised stocks today remain a hybrid.