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Author: Awepay New Month is coming, the geese are getting fat, please put some money on my mobile app... OK, we may not be ready to ditch the traditional Christmas rhyme just yet but we’re certainly getting ready to ditch our more traditional ways of paying for Christmas. For the past couple of decades, the arrival of the holiday season has meant that we all hit the shops, with plastic cards in our hands, waiting for the inevitable come-down when the bills hit in January. But are things changing? More people are using their mobiles to make payments – particularly young people - and what will that mean for shopping habits? According to a recent survey from Visa, the way that this younger generation are using their mobiles is an indication of things to come.  The research found that nearly two-thirds of millennials have used their phones to send money to a friend or member of their family. That figure ties in with Visa’s figures for mobile banking:  the card company fou

Author: Awepay Our nation is controlled by opaque, amoral artificial intelligences -- and so are we. When I wrote yesterday how I feel trapped by Facebook, I was just scratching the surface of the way that big-data AIs analyze, taunt and manipulate us. Facebook is the worst of them, because most AIs are really only interested in selling you things. Facebook is interested in keeping you engaged with Facebook, and as I said yesterday, that often means filling you with anger and fear. Facebook has shown that a big data AI can control our opinions and manipulate our emotions. But it's far from the only AI of its kind, and this is just the beginning. The big data AI cat is out of the bag, and it knows everything about you. Facebook is particularly powerful because it has convinced people to log the contents of their lives within its walls. Most big data systems need several different data sources, collected from different theaters of activities, to create their profile of

Author: Awepay Have you ever purchased something using your mobile phone or tablet? If not, you will surely do so in the near future. Mobile Payment is about to reach its tipping point of rapid growth, just like what mobile internet usage had a little while back. For merchants who run online platforms and e-commerce shops, allowing customers to pay from the mobile is no longer a “nice to have” but has now become an essential part of the business. Regardless whether you run an e-commerce shop or any other online platform, it is very clear that your customers expect to have a reasonable and pleasant user experience on their mobile platforms (smartphones, tablets etc). However, today more than ever, customers also expect to maximize its use and be able to complete payment transactions via their mobile devices; and this is where Mobile Payment kicks in. We gathered the top things you need to know about Mobile Payment. You might as well consider this as your “Mobile Payment for

Author: Awepay Limit on your Credit Card The credit limit on your credit card is the maximum balance given to you by the issuer. By setting a credit limit, the bank controls your purchasing power with the card. At the same time, the set credit limit helps you maintain a good credit score. The credit utilization ratio, which is the ratio of your credit card balance to the credit limit allowed, plays a very important role in determining your credit score. Higher the credit utilization, lower will be your credit score. So, how is this credit limit decided by the banks? Different credit card issuers have different criteria of calculating the credit limit to be granted to an individual applicant. But there are a few common elements that help the banks decide the credit limit. Let us discuss these elements in some detail. Credit History This is the first thing that banks and other credit card issuers check before approving your application. Your credit score also helps th

Author: Awepay Cryptocurrency created quite the buzz this past year. Although the technology has been around for a few years, 2017 was the year it really took off. Bitcoin, the first application of cryptocurrency technology, hit $20,000 a coin, while coins like Ethereum also saw their prices increase. However, the technology behind these tokens, blockchain, has far more applications than just cryptocurrencies. Through a network of smart contracts that operate utilizing decentralized information on a ledger, blockchain is able to provide unmatched security and speed for data transfers. This means that blockchain technology has an application in nearly every industry where value is exchanged. For this reason, many startups have started to explore how this technology can change the way the world works. Here are twelve of those startups, each of which are utilizing blockchain technology in new ways. Related: 10 Reasons Why Good Customer Service Is Your Most Important Metric

Author : Awepay Will you literally be paying for goods with a smile in the future? The idea of paying on a mobile device once seemed like a scene straight out of “Back to the Future,” but more Americans now own mobile devices than do not. Using a mobile device to pay from anywhere in a store or at an offsite location is no longer reserved only for the tech-savvy early adopters, it’s the new normal for both merchants and customers. While conversations about mobile payments once focused on functionality, security and cost, there’s only one question to be asked: What’s next? Here’s a look into what the future may hold for mobile payment processing. Cards will become irrelevant. Consumers haven’t ditched the role of physical cards as readily as some mobile industry experts originally predicted, despite the massive launch of mobile wallets by major mobile manufacturers and tech providers. Though 15 percent of consumers reportedly used mobile wallets as of 2015, CIO Magazine says t

Author: Awepay Mobile wallets provide many benefits to consumers, and payment experts believe mobile payments will hold a significant position in the payments ecosystem once the dust settles from the EMV shift. Integration of loyalty programs One of the big draws of mobile wallets is the number of secondary features available for integration. Some major retailers have already launched their own payment apps with other features such as store locators and rewards programs. These apps use existing customer accounts (often from store websites) for sign-in, payment, and account information purposes. Loyalty feature integration allows the consumer to check his or her progress toward customer rewards and to claim those rewards wirelessly. Integration of commerce features As mentioned above, store locators are making their way into payment apps. Centralizing commerce features such as store locators, price comparison options, shopping lists, and wishlists can give mobile wallets con

Author: Awepay The concept of mobile payment has increased over the past couple of years, and with it has the need for decent levels of security. Last month the PCI council announced the development of a new standard for software-based PIN entry on commercial off the shelf (COTS) devices. The concept behind this was one of permitting secure PIN-based applications and card readers to work with a mobile device, utilizing a back-end system for transaction monitoring and processing. This week Infosecurity attended a presentation by MyPinPad featuring speakers from across payment security and retail technology. The theme was based around the fact that its been 12 years since the roll-out of Chip and PIN, and how the development of mobile-enabled payments have enabled more merchants to offer payments in instances where cash or cheques would only have been accepted in the past. Jeremy King, international director of the Payment Card Industry Security Standards Council (PCI SSC), s

Author: Awepay Technologies associated with IoT are inexpensive, low powered and frequently based on common software platforms. Recent rapid development in the automotive/haulage industries allows the integration of this tech into cars/trucks. These developments have coincided with the simultaneous rise in fintech with the use of technology supporting financial services such as payments, fostering a commonality of innovative development across these domains. There are innovative opportunities created by merging one industry with another and also driven by the IoT trend. For example, this can be illustrated by the implementation of an autonomous "pay at pump" use case showing how the integration of IoT and payments technology into car IVI systems and fuel pumps will allow the financial transaction associated with buying fuel to be handled completely autonomously. The deployment of computer vision technology for authentication, and connectivity for communication with

Author: Awepay When customers come to the register to pay for their meal or purchases, many can now simply hold up their mobile phones instead of handing over dollar bills or pulling out a credit card. Since mobile payment programs are relatively inexpensive and don’t require sophisticated technical knowledge to implement, many small businesses have been quick to adopt the new technology. “Mobile has really taken away the requirement that you have to build big systems and be a large company to be successful with technology,” says Gene Signorini, the vice president of mobile insights at Mobiquity. “In many ways, it is easier for small businesses to adopt mobile payment programs because they don’t have a large infrastructure to work through so small businesses can jump right in.” Here are five ways offering a mobile payment to your customers will help you increase sales: Integrate and increase incentive programs. One of the biggest benefits of using a mobile payment option i

Author : Awepay The online payments topic is treated dismissively even though it is very important. Merchant services are not exclusively responsible for quality mediation and safe money transactions, this is precisely why when choosing a provider the type, size and future perspectives of a business should be taken into consideration. Therefore, it's worth our time to get to know the characteristics of different types of payment providers so that our decision would be made fully aware of the facts and figures aiding our business. E-Wallet E-Wallet, or in layman's terms "electronic wallet", serves as one of the easiest payment solutions and frankly one of the most popular payment method. The idea behind it is that service providers create virtual accounts that can be loaded as pleased (like a pre-paid cell phone). Finally, a customer can use this e-wallet's virtual money to pay in every online store that accepts such a payment method. Our service provid

( #Awepay #PaymentGateway ) The best part of business is getting paid, but getting paid isn’t always as easy or simple as it should be. In addition to figuring out the logistics of how to get paid, you may have to pay multiple vendors different payment processing fees. Those fees can add up fast. But you have options that can help keep things simple while lowering your fees. Read on to learn more. Integrated vs. non-integrated payment processors Both online and offline card payments require a series of important steps to complete. The ability to accept cards online requires both a merchant account and a payment gateway. A merchant account is kind of like a bank account used to aggregate payments from credit cards, debit cards and sometimes ACH payments. A payment gateway is a system used to process payments, generally online, that feeds into the merchant account. Thanks to the magic of online business, you can sign up for a two-in-one package to accept payments online. For a

It’s anticipated that there will be more than 4.8 billion individuals using a mobile phone by the end of 2016. A recent report noted that 39 percent of all mobile users in the U.S. had made a mobile payment in 2015. This is up from 14 percent in 2014 and by my estimations will in the 70 percent range by 2017. Because of this enormous growth — and potential growth that mobile devices present — we can expect to see the mobile payments industry and startups in the space evolve to meet the growing demands of users. To understand how big this industry is going to be, you need to understand the history of mobile payments and their evolution over time. Brief history of mobile payments Throughout history, human beings have relied on some sort of payment system to purchase the goods or services we wanted or needed. Starting with the bartering system, humans began to use livestock, grain, shells, metal coins, pieces of white deerskin, the wampum, gold, the gold-backed dollar, charge ca

Today, however, there’s a lot of confusion surrounding digital wallets and mobile payments since these terms are interchanged so frequently. To be clear, a digital wallet is simply tokenization of data. While digital wallets are often associated with payments, they can be used to issue digital rewards, tickets or boarding passes, room keys, or identification. Mobile wallets are basically the mobile version of a digital wallet with five types of mobile payments: The mobile wallet.  This is arguably the most hyped-up type of mobile payment, aka the “tap and go” method where your smartphone’s built-in NFC (Near Field Communication wireless technology or Bluetooth Low Energy (BLE) is used to make a payment using your smartphone. Mobile as the point of sale.  This is when a merchant uses their mobile device to process payments. Square is one the most well-known examples of this. The mobile payment platform.  In a nutshell, these are the companies like PayPal that allow you to make

With the entire focus of this new year to be able to digitize India, following are the few foundation stones that the operation rests upon. Government joins the digital wallet revolution In the Indian digital wallet scenario, private players have always been the disruptors of the segment. Their approach has been to completely revolutionize and kick-start a system. As the government enjoys the benefit of being the system itself, the new BHIM app will unleash mobile phone revolution. The government will introduce two schemes to promote BHIM App – referral bonus for the users and cash back for the traders which are imperative for the “less cash” economy as BHIM has surpassed all other UPI apps with around 1.25 cr downloads. Hard war against hard cash There have also been stringent control measures on the volume of cash transactions. With the Income Tax Act being amended to ensure that no cash transaction above Rs 3 lakh is permitted, a limit on donations to campaigns, a

The digital wallet revolution has not have lived up to its expectations -- yet. According to Gallup, just 13 percent of smartphone owners have a digital wallet app, while the majority of those who do have an app (76 percent), rarely use it. That may be disheartening for those of us involved in the industry, but there’s always a silver lining. Business Insider is forecasting that in the U.S. alone mobile payments volume will increase to $503 billion by 2020 and will be used by 56 percent of the consumer population during that year. Meanwhile, Sweden, Singapore, the Netherlands, France, Canada, Belgium and the U.K. are already on their way to becoming cashless societies - with Australia, Brazil, India and much of Africa following suit. #awepay #awepayawesome #payment #paymentgateway #transactions #android #samsung #s8 #mobilepayments #desktop #computer #accepting #rentit #creditcard #cash #deposit #paypal #cashapp #requirements #moneyorder #notincluded #payquicker #security #t

Mobile devices, high-speed data communication, and online commerce are creating expectations that convenient, secure, real-time payment and banking capabilities should be available whenever and wherever they are needed. -Jerome Powell # payment   # paymentondeliverywithinlagos   # onlineshopping   # abuja # lekki   # worldwidedelivery   # fashion   # style   # lagos   # nationwidedelivery # paymentbeforedeliveryoutsidelagos   # paymentbeforedelivery   # nigeria # ghana   # quality   # store   # meets   # phc   # doorstepdelivery   # kano # lazalamensclothing   # fintech   # paymentvalidateorder   # digitalpayment # lifestyle   # paymentsystem   # accra   # paymentviapulsa   # PaymentGateway # awepay  @awepay_