Fintech Review

DECEMBER 3, 2024

Payment systems have undergone significant transformations over the years. We explore the evolution of payment solutions, analysing adoption rates, security challenges, regulatory shifts, and innovative technologies. Traditional Payment Methods: Cash and Checks For centuries, cash reigned supreme as the primary payment method.

Payment Solutions

Clearly Payments

OCTOBER 3, 2024

Total Credit Card Payments Amount in the USA by Year Year Credit Card Purchase Volume in USA (USD Trillions) 2013 $2.5 trillion The adoption of payment terminals in the USA has seen significant growth over the past decade. Payment Terminal vs Online: Payment terminals accounted for 70% of credit card transactions in 2021.

Credit Cards

Clearly Payments

MARCH 28, 2024

These terminals can process traditional card payments, NFC (Near Field Communication) payments like Apple Pay and Google Pay, and even QR code payments. Smart terminals are suitable for businesses looking for a versatile and future-proof payment solution.

Credit Cards

Clearly Payments

DECEMBER 2, 2024

Contactless payments , such as tap-to-pay, grew by 25% year-over-year in 2023 , making up a significant portion of in-store card transactions. Accepts contactless and EMV chip cards , which are more secure than magnetic stripes. This method uses payment gateways integrated with websites to facilitate transactions.

Credit Cards

Stax

NOVEMBER 6, 2023

There are various methods of enforcing data security, such as data masking, encryption, authentication, and data tokenization. In this article, we’ll take a closer look at what data tokenization means, how it works, and the role it plays in payment processing. A token acts as a stand-in for a far more valuable object.

Encryption

PYMNTS

OCTOBER 20, 2016

The single integrated payments solution is already benefiting some of the most recognized brands across industries, including retailers, such as World Duty Free and Monsoon Accessorize, and from PrioTicket to The Whisky Exchange and iconic sports venues, such as Twickenham Stadium. 2014 for its largest U.K.

PCI DSS

Stax

MARCH 15, 2024

The primary security standards that payment systems typically adhere to include: Payment Card Industry Data Security Standard (PCI DSS): PCI DSS sets forth requirements for securing payment card data, including encryption, access control, network monitoring, and regular security testing.

Process

PYMNTS

APRIL 15, 2016

The EMV certification process is a confusing one to say the least – with merchants having to decide between a myriad of choices and certification methods to figure out the type(s) of certification(s) needed to actually accept EMV-enabled chip cards and to then face the long lines of other merchants doing the same.

EMV

Clearly Payments

MARCH 22, 2024

The Technology Behind Mobile Payments Mobile payments rely on a sophisticated blend of technologies to facilitate seamless, secure, and convenient transactions. At the heart of mobile payment systems are Near Field Communication (NFC), Quick Response (QR) codes, and secure elements such as encryption and tokenization.

Contactless Payments

Stax

NOVEMBER 13, 2023

Since the first plastic credit card was issued by American Express in 1959 , payment tech progress has been growing exponentially. Magnetic stripe payments enjoyed a 30-year reign between the ’70s and ’90s. EMV chip card technology had a good two decades or so, beginning in the mid-’90s.

Contactless Payments

Stax

NOVEMBER 6, 2023

By using near-field communication (NFC), Apple Pay, and Samsung Pay services turned each company’s mobile devices into highly secure digital payment wallets. Instead, they can tap their mobile devices against supporting POS terminals to process their payments securely and efficiently by way of a digital wallet.

Mobile Payments

Stax

APRIL 18, 2024

This technology enables merchants to conduct transactions on the go, typically with both mobile wallet solutions like iOS’ Apple Pay, as well as tap-to-pay, magstripe, and chip cards like American Express, Visa, and Mastercard. Popular mobile payment solutions include Square, PayPal Here, and Shopify POS.

Credit Cards

PYMNTS

JUNE 4, 2018

Instead, the fingerprint populates a template that is hashed and encrypted on Touché’s database, and card information is tokenized. The device also only talks to their server, changing the encryption key each time the function is used. Touché is far from the only one working on payment methods like this. Mastercard.

Encryption

EBizCharge

OCTOBER 17, 2023

While Salesforce is an effective customer relationship management (CRM) platform, there’s an alternative payment software that can further streamline your sales process to help your business close deals faster. EMV terminals: EMV terminals allow companies to accept in-person payments on a physical terminal.

CRM

EBizCharge

JULY 2, 2024

In the modern business landscape, collecting payments efficiently is essential for maintaining a smooth operation and fostering customer loyalty. As technology advances, businesses have access to a variety of innovative payment solutions that can make the process quicker, more secure, and more convenient for all parties.

Contactless Payments

Clearly Payments

DECEMBER 5, 2023

Secure Socket Layer (SSL) encryption became a standard, ensuring the confidentiality of sensitive information during online transactions. The 2000s witnessed the rise of mobile technology, introducing mobile credit card processing solutions.

Processors

PYMNTS

JANUARY 2, 2017

He pointed out that encryption and tokenization solutions have been among the most effective approaches to keeping data safe in the world of IoT. Even if there is a data breach and someone is able to penetrate the network, they’re not going to be able to extract data that could then be used to commit payment fraud,” said Vanderhoof.

ACH

CB Insights

MAY 8, 2018

The encrypted messaging service raised $1.7B The company was first a bitcoin miner, then a chip manufacturer, and finally a social network where users got paid (in cryptocurrency) to answer emails. Ripple has received $94M in venture financing to build a cross-border payments solution.

Blockchain

EBizCharge

MAY 12, 2025

With cyber threats on the rise and consumer security expectations at an all-time high, implementing a secure payment processing system has become a foundational business requirement not just a best practice. Encryption converts sensitive customer and payment data into a coded format during online transactions.

Process