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Posted: Jul 26, 2016
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Author: Bill Lehman
Walmart Pay has joined the burgeoning list of “Pays” – mobile payment apps – and has quietly made its way from its launch in 2015 to now be accepted in every Walmart store (over 4,600 locations) in the U.S. And early reports show that 88% of transactions processed through Walmart Pay are from users who previously used the app, meaning high satisfaction. Contrast this with Apple Pay’s low repeat usage rate – one-third of all Apple Pay users don’t use it a second time. Walmart Pay, which is actually a component of the Walmart mobile app, works with any credit, debit, prepaid (and of course) Walmart card, and allows payment at checkout by opening the app and scanning a QR code.
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Posted: May 31, 2016
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Author: Bill Lehman

There was a time when a bank or credit union did not talk about fraud to their cardholders. They did not want to give the impression that their financial institution might be susceptible. The only mention was when describing the benefits of using the Visa or MasterCard brand which carries zero liability to the cardholder in case of fraud. But those days of silence on the subject are long in the past. Consumers are leery of identity theft, have started to look closely at their statements and, have learned the need to keep their social security numbers private.

 


 

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Posted: May 24, 2016
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Author: Tom Davis

Not a day goes by where you don’t read or hear news about bitcoin and/or blockchain.  One expert in the payments world likens bitcoin to the Kardashians, the reality show stars who manage to keep themselves in the headlines even if there is nothing new to report.  Without question, bitcoin and blockchain are the darlings of the financial and business media. What follows in this article is background and insight on bitcoin, the cryptocurrency, its relationship to the blockchain, and reasons why credit unions won't need to spend too much time (if any) worrying about bitcoin.

In our second article, to be published on The Payments Review at a later date, we will take a much deeper look into the intriguing and complex world of the blockchain distributed ledger technology and why credit unions will want to keep an eye on it.

 


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Posted: May 17, 2016
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Author: Tom Davis

CurrentC, the much publicized merchant-owned mobile payment system announced in August 2012 by Merchant Customer Exchange (MCX), is closing up shop, according to a company statement released on May 16. An MCX spokesperson said the decision was a result of feedback from the CurrentC pilot program and the need to focus their resources on “other priorities,” including Chase Pay. 

To get more insights and details on the decision to pull the plug on CurrentC development, click here to read the PYMNTS.com article, “Say Bye-Bye To MCX CurrentC.”

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Posted: May 11, 2016
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Author: Paul Castner

Last week we posted an article on The Payments Review (TPR) about the evolution of Apple Pay that cited statistics showing that the number of users who try Apple Pay at the point of sale (POS) is increasing, but that as a POS payment alternative to cash or a card swipe, it has been slow to catch on.  However, in app purchases, according to the TPR article, is where the action is for Apple Pay and it is seeing the biggest gains in usage and transactions. 

 

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