As you may be aware, PSD2 is now a regulation for banks and payment services providers across the UK and the EU. Compliance with PSD2 has been one of the most important challenges for financial institutions and the time has come to be fully compliant. Payment Services Directive Two (PSD2) is a piece of legislation …
WIZZIT Tap-On-Phone offers a world of new eCommerce Opportunities Read More »
For those that are involved in the payments industry it is so easy to get lost in the technicalities of the solution that we forget some very basic principles: Customers do not jump out of bed in the morning saying “goodie, goodie, I am going to make payments today!” What they want is …
Some (mis)perceptions – and the reality of Tap-on-Phone Read More »
According to Expert Market, the latest chargeback fraud statistics are as follows: A customer who is successful in filing – and winning – a chargeback dispute is nine times as likely to initiate another one. 40% of consumers who file a chargeback will do it again within 60 days. 81% of customers admit to ‘convenience’ …
We have recently heard the news about Apple entering the Tap-On-Phone market. As more and more merchants and SME’s move away from cash, the use case of utilising your phone as a POS (Point of sale) device becomes extremely relevant and valuable for these businesses. We have been asked on many occasions, what do we …
According to Payments Cards and Mobile (1 Feb 2022), the digital payments industry will soon be worth a staggering $476,1 trillion. They further predict that 74% of this will be handled by non Financial Service Institutions (FSI). Despite the fact that traditional FSI’s will double their spending on payments technology to $80,3 billion by 2030, …
Who will dominate the $476 trillion payments market? Read More »
According to a 2021 study by Juniper Research, the global number of smartphones being used for Soft POS payments will increase from 3.2 million in 2021 to almost 24 million in 2026. Soft POS represents an incredible opportunity to connect increasing consumer demand for new payment choices with a growing number of merchants seeking a …
As a small business looking to accept card payments, it is crucial to understand what a merchant account is, why it is needed and how it works. A merchant account is an account that holds the trader’s money from their card sales before it transfers to their business bank account. The movement of these funds …
Over the past 2 years, we have seen an enormous amount of development in the payment sector. This has granted a strong boost to e-commerce payments but also new innovative ways to enhance customer checkouts on the ground. Buy Now Pay Later (BNPL) has grown in popularity across the US and is making headway into …
What may have seemed like technological fantasist’s dreams just a few years ago, contactless payments have become a norm to many people globally and continue to gain traction across the globe. In the UK, more than a quarter of all payments are now made using contactless payments. Contactless payments offer the consumer the ultimate experience …