Bitcoin Liberation: Reject the Plastic Card and Embrace Innovation
Consumers do not want to use plastic money, and are enthusiastic about innovation. Technology and globalization are propelling a huge shift in consumer behavior. Consumers demand more digitalization in all areas of their life while protecting security and privacy, a Mastercard study found. Coincidentally, this phenomenon converges with the increasing use....
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Plastic cards are often considered to be the next evolutionary step in the world of payments. More and more countries are moving away from cash transactions whenever possible, and it only seems to make sense for plastic cards to take their place. However, there are still a fair few drawbacks to plastic cards, and the PNC issue highlights what happens when cards are not working. Imagine standing in line at the counter, waiting to pay with your PNC Bank Card, and getting the message how your card can not be used at this time. That is the feeling many PNC Bank customers are experiencing....
Bringing additional security to the payment sector is a tough battle as there are so many hurdles to overcome, especially when it comes to plastic cards. The introduction of EMV chips to plastic cards seemed to be a major step in the right direction, but as it turns out, EMV transactions can be disabled, forcing merchants to swipe the card. The....
It is no secret how consumers are looking for more convenient and mobile payment solutions these days. Alternative methods – such as digital wallets – are slowly overtaking plastic cards as a popular way to buy goods and services online. A recent study conducted by WorldPay shows how more than half of the global e-commerce transactions are coming from non-traditional card payments. Over the course of the next few years, more and more customers will start paying with alternative payment methods rather than using plastic cards. WorldPay statistics expect the number of card payments to fill....
“We can hold on to the way it’s always been done, or we can drive innovation. We have to be willing to embrace the future.”
Offline CBDC functionality will help bring financial services to Ghanans who lack access to bank accounts or an internet connection. Ghana is working to develop offline capabilities for its forthcoming central bank digital currency (CBDC) in a bid to promote its use across all segments of Ghanan society.According to a Oct. 18 report from Bloomberg, Kwame Oppong, head of fintech and innovation at the Bank of Ghana (BoG), revealed that the country's digital currency “e-cedi” will support offline transactions during the Ghana Economic Forum on Monday.Oppong emphasized that offline....