CentsChat

05/02/2022

Contactless payments make approximately 51% of American adults that are now using at least one form of contactless payment. This figure includes both mobile wallets and tap-and-go credit cards.⁠
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Direct deposit is on the rise, especially with the vast majority of people working from home. ⁠
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507 million users⁠
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Apple Pay's user base grew by 66 million in 2020.⁠
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However, the figures have increased to a massive 507 million users in 2020. If we compare 2019 and 2020 data, we can see that the use of Apple Pay has grown by almost 15%, from 441 to 507 million users worldwide.⁠
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podcast

04/25/2022

How can banks better prepare for critical vendors being offline for an extended period of time?

1️⃣ Ask tough questions: If you're evaluating a vendor you need to dig deeper.

It needs to be than just once a year you get their updated documentation. Have conversations with them on, what their business continuity plan and disaster recovery strategies look like. How are they going to ensure continued operations in a time of crisis?

2️⃣ There has to be process redundancy: There has to be a ready-to-go process so that in the event that the unimaginable happens your company doesn't suffer and you can continue to provide the services to your customers.

You have to really analyze the impact of your business when those worst-case scenarios could happen. This way you don't leave gaps in your strategy and set yourself up for success, not failure.

Critical vendors are critical to the operation of your business and just like any critical relationship in your personal life, that relationship is usually high touch.

You should constantly be discussing data security with your vendors in order to better your business for any future unknowns. Keep your collective organizations synchronized so that there is an expectation of transparency in the event that something happens you're able to adequately respond.

03/16/2022

What topics would you like to see us discuss in our upcoming season?

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09/17/2020

With big data comes big power and big innovation, so how will Visa use this to make the payments eco-system more stable?

With CNP transactions on the rise due to the global pandemic, what can FI's leverage to drop the estimated $1BB in estimated chargeback losses in just 1 year?

What is Square Inc. deploying in order to get employees and employers on the same page when it comes to real-time payroll?

With big data comes big power and big innovation, so how will Visa use this to make the payments eco-system more stable?With CNP transactions on the rise due to the global pandemic, what can FI's leverage to drop the estimated $1BB in estimated ch...

09/03/2020

CFPB was deemed useless, and financial enforcement is down 80% from 2015, but California thinks they have the cure.

What Nigerian hacker ring claimed the unemployment benefits of thousands of Americans, and how do we protect ourselves when the government can't even protect itself?

COVID has crushed e-commerce authorization rates, is EMV 3DS the answer?

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CFPB was deemed useless, and financial enforcement is down 80% from 2015, but California thinks they have the cure.What Nigerian hacker ring claimed the unemployment benefits of thousands of Americans, and how do we protect ourselves when the gove...

08/07/2020

With online retail doubling in volume from last year you need to know the new ways to keep your data secure.

Apple makes it easier to say goodbye to your traditional terminal. Change is here.

How has Wirecard gotten away with fraud for so many years? And what do we need to do to make sure there isn’t another debacle like wirecard.

With online retail doubling in volume from last year you need to know the new ways to keep your data secure.Apple makes it easier to say goodbye to your traditional terminal. Change is here.How has Wirecard gotten away with fraud for so many years...

07/15/2020

Are paper checks past their prime? And what keeps consumers from completely dropping them?

Public transportation is down 90% in some cities, but how can we make it safer, and more efficient during, and following Covid-19?

Financial Institution Imposter Issues continue to skyrocket amidst the global pandemic, but what model hasn’t been greatly affected?

Are paper checks past their prime? And what keeps consumers from completely dropping them?Public transportation is down 90% in some cities, but how can we make it safer, and more efficient during, and following Covid-19?Financial Institution Impos...

07/06/2020

Wirecard received the green light to resume its banking operations but what is new with Wirecard since Ex-CEO was arrested earlier last week?

What is open banking? And why standards are critical for innovation.

Say goodbye to Uber financial leader, who has stepped down due to Uber CEO putting a halt on their financial services projects.

Wirecard received the green light to resume its banking operations but what is new with Wirecard since Ex-CEO was arrested earlier last week?What is open banking? And why standards are critical for innovation.Say goodbye to Uber financial leader, ...

06/24/2020

Former WireCard CEO was arrested for over missing $2.1 Billion, how did it happen?

Will we finally see one of the only cash only industries shift to contactless payments? And what does this mean for hungry FinTechs?

The Fed kicked off their FedNow community, and we have the insights.

Former WireCard CEO was arrested for over missing $2.1 Billion, how did it happen?Will we finally see one of the only cash only industries shift to contactless payments? And what does this mean for hungry FinTechs?The Fed kicked off their FedNow c...

06/17/2020

The FBI is warning consumers to be safe when using mobile banking platforms due to fake sites with malicious intent.

Why are Square and other processors holding excessive funds for from their merchants, and why will we see this trend continue?

Why are Visa's new interchange programs up 85 basis points, and how TPPP's can prevent the downgrading of transactions?

The FBI is warning consumers to be safe when using mobile banking platforms due to fake sites with malicious intent.Why are Square and other processors holding excessive funds for from their merchants, and why will we see this trend continue?Why a...