Last April, Visa launched its Visa+ service to connect different peer-to-peer (P2P) payment apps, enabling instant transfers to participating digital wallets. Initially, Visa+ aimed to be accessible to Venmo and PayPal users across the US by mid-2024. Building on that foundation, the recent launch officially introduces the service to its first partners: PayPal, Venmo, and DailyPay. Throughout 2024, Visa+ will …
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I’m thrilled to share that, through the Paid for Grades program, freshmen from Lakewood, Boca Ciega, and Hollins high schools have earned a total of $164,000 for themselves, their mentors, and their schools this week! This amazing achievement comes after their hard work and dedication in completing the 11th Annual Paid for Grades program. This is a literacy initiative, supported …
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There’s a boom underway in digital banking options that cater specifically to small- to medium-sized businesses. SMBs are progressively opting for more digital-first banking solutions. They’re driven by a desire for increased flexibility, time-saving processes, and enhanced transparency in their banking engagements. This pivot towards digital-first strategies marks a significant departure from traditional, physical banking. But, running counter to this …
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Recognizing each customer’s unique journey is not just a nicety; it’s a necessity. Gone are the days when simple demographic snapshots could predict a person’s banking needs. The concept of behavioral banking hints at a future where banks see customers as more than just numbers. It’s time to start seeing banking customers as individuals with distinct stories. From my perspective …
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As a business owner, I can say that understanding and adapting to the preferences and behaviors of different generations is necessary for long-term success. Currently, one of the most pressing challenges we face on this front is integrating Gen-Z into the credit economy. Unlike their predecessors, Gen-Z shows a noticeable reluctance to engage with traditional credit systems. To effectively bring …
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In our day and age, everyone is racing towards creating the smoothest, most hassle-free customer experiences. Banks are no exception to this rule. The idea of introducing hurdles into the customer experience might sound a bit backward. It’s easy to think of friction as something to avoid at all costs, especially when providing that quick and easy experience is the …
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The revised payment services directive, or PSD2, has played a big part in fraud management rules since its introduction in 2018. With PSD3, however, payment service providers (PSPs) can use personal data to prevent fraud without asking each customer for permission, as long as it’s for stopping fraud. Now, more people and businesses involved in making and receiving payments, not …
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Is crypto dead? This is a question I seed asked fairly regularly now that the cryptocurrency shine seems to have dulled a bit. The 2024 Cardholder Dispute Index asked 4,000 people in the US who shop online about how they like to pay. Fewer than 1% of respondents said they prefer to use cryptocurrency, like Bitcoin, for buying things online. …
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2024 is just around the corner. Now’s a good time to reflect on the current state of the eCommerce space, and gauge how you might prepare for what’s ahead. That applies to every facet of your business; today, though, let’s focus on fraud and chargebacks. In some ways, the self-management of fraud threats has become more feasible in recent years. …
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I can’t help but marvel at the transformative potential of Generative AI within the banking sector in 2024 and beyond. This cutting-edge technology promises to reshape our industry. But, it’s important to respect the cautious approach taken by financial institutions as they navigate this uncharted territory. Promise aside, the looming threat of scammers exploiting Gen AI underscores the need for …
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