Financial information about customers has typically been stored by banks in their own closed systems. With open banking, however, banks and third-party service providers can exchange financial data through application programming interfaces (APIs). Open banking gives consumers the power to control what information can and cannot be shared with apps and third parties. Despite having…
Jed Danbury
You may have heard of 3D Secure (3DS) when it comes to digital payments. 3DS is an additional layer of card holder security and authentication for online card transactions. To validate cardholder identification and lessen fraud, 3DS links the three parties engaged in a transaction (the card issuer, the acquirer, and the payment system). For example,…
As readers of this article likely know, customers can use the buy now pay later (BNPL) option to make purchases — both in-person and online — without having to pay the entire price of the goods at the time of purchase. Like the layaway plans from the past, BNPL allows customers to spread out their payments if…
People are now becoming more comfortable shopping in stores. However, what will help to keep them coming back, especially as they've realized the ease and benefits of shopping online throughout the pandemic? One way is to merge both the online and offline shopping experiences successfully and seamlessly. One area in which this can be particularly…
With the rapid increase in e-commerce given the pandemic, you may be considering expanding your online business beyond our U.S. borders. However, to successfully do that, you'll need to take a close look at the mindset and expectations of future customers. Even the biggest corporations have made expensive mistakes by missing the mark — e.g.,…
Contactless payments have been experiencing a steep rise outside of the U.S., particularly as a result of the COVID-19 outbreak. In the U.K., where almost 50 percent of payments are contactless, the spending limit for contactless payments was increased in April from £30 to £45 so that even more transactions could be paid via this…
