E-Wallets: Will They Replace Physical Wallets?

E-Wallets: Will They Replace Physical Wallets?

E-Wallets, sometimes referred to as digital wallets, are making the items found in a physical wallet – cash and credit cards – disappear. An e-wallet is an application on a smartphone or personal computer that stores virtual versions of those items and allow for monetary transactions. Digital wallets store cash, credit cards and banking information, among…

Consumers Need to Be Proactive With EMV Chip Technology

Consumers Need to Be Proactive With EMV Chip Technology

Within the next 18 months, the four U.S. credit card giants will introduce EMV chip technology within their credit and debit cards. EMV chip technology , which stands for Europay, MasterCard and Visa, will replace the magnetic stripe (magstripe) with EMV chip technology on the reverse of credit cards. The conversion marks the long-awaited migration…

Credit Card Processing for Marijuana Merchants Could Be Near

Credit Card Processing for Marijuana Merchants Could Be Near

Credit card processing for marijuana merchants may be near after U.S. Attorney General Eric Holder publicly supported banking access for such. In a speech at the University of Virginia last week, Holder also said that the U.S. Department of Justice would “soon unveil proposed regulations” regarding the buying and selling of medicinal marijuana in the…

MasterCard Advocates Credit Card Security in US with EMV Chip Cards

MasterCard Advocates Credit Card Security in US with EMV Chip Cards

MasterCard announced last week that U.S. banks and merchants need to transition to the EMV chip system to enhance credit card security. The announcement came in an open letter from Chris McWilton, President of MasterCard’s North American Markets on Jan. 8, released this week to financial institutions, merchants and other partners in response to the…

E-Commerce Surge the Reason for Fed Ex, UPS Shortcoming

E-Commerce Surge the Reason for Fed Ex, UPS Shortcoming

Package shipping giants Fed Ex and United Parcel Service were simply not prepared for the e-commerce surge that accompanied the 2013 holiday season. From Dec. 24-26, virtually every news medium in the U.S. reported how FedEx and United Parcel Service (UPS) experienced significant delays which drew the ire of thousands without presents on Christmas morning.…