Top 5 Payment Card Types used by Customers
In an era where consumer expectations and environmental consciousness are reshaping industries, payment cards are also undergoing a transformation. With an increasing shift toward sustainability, financial institutions and card issuers are rethinking the materials and designs of their cards. From recyclable options to customized designs that reflect consumers’ values, this trend not only minimizes environmental […]
BIS Pilots Automated Compliance Process for Cross-Border Payments
The Bank for International Settlements has said that Project Mandala, an initiative to create an automated regulatory compliance system for cross-border payments, has reached the proof-of-concept stage. Cross-border payments are in high demand, but issues like slow settlement and currency conversions have hindered widespread adoption. It is also difficult for financial institutions to navigate the […]
Hallmark and InComm Combine Gift and Greeting Cards in One Package
Want to give the people on your nice list a greeting card and a gift card this holiday season? Now you can do so with a single purchase. Hallmark’s newly announced line of Gift Card Greetings provides a QR code for a prepaid gift card contained within a greeting card. The offering is a collaboration […]
Pennsylvania Passes Bipartisan Bill to Establish Crypto Framework
The Pennsylvania House of Representatives has passed a bill designed to establish a framework for transactions involving crypto and digital assets. The crypto bill received overwhelming support from both parties in Pennsylvania, one of the battleground states likely to decide the upcoming U.S. presidential election. House Bill 2481, which has also been called the Bitcoin […]
Reaching for More Cross-Border Payments, China Looks to Hong Kong
In its push to further internationalize the yuan, the Chinese government has enlisted HSBC’s Hong Kong unit to join its worldwide interbank payment system as a direct offshore participant. It’s the next step in China’s promotion of its Cross-Border Interbank Payment System (CIPS), which it has touted as an alternative to the globally dominant Swift […]
Tap-to-Phone Technology Unlocks the Full Potential of Contactless Payments
Tap-to-pay transactions have become an integral part of the payments landscape, but they represent only half of the mobile payments equation. The same contactless payment chip that smartphones use to transmit payment data can also receive payments through tap-to-phone technology. That functionality turns any mobile device into a payment terminal, and there are a multitude […]