In a big reversal from previous policy, Chinese authorities have announced that they will open China’s market for clearing domestic bank card transactions, Reuters reported Wednesday (April 22). This will allow players like Visa and MasterCard direct access to a $6.84 trillion market (as of last year) that they have heretofore been almost entirely locked out of. As of June 1, foreign firms will be able to set up clearing companies within China and apply … Read More
The latest news and information about the companies, products and services that are shaping the payment industry. From PCI Compliance to the latest trends in mobile payment processing, VeriProcess has all the latest news and information to keep you informed on the payment industry.
At VeriProcess, we help organizations that accept credit card payments reduce their payment processing expenses by identifying and correcting areas of overspend. We function as merchant advocates and our expense reduction services do not require you to change your existing merchant service provider. Our experience and expertise in the payment industry puts the knowledge in your corner when navigating the complexity of payment processing, and our results-based fee model incents us to deliver maximum savings.
One of our goals at VeriProcess is to create transparency in this space; by creating awareness and educating merchants on industry related topics and key phrases used, we believe you will be able to drive your business toward greater efficiency and financial success.
While Chinese eCommerce giant Alibaba recently made moves to encourage businesses to run their operations entirely on smartphones, the rise of B2B mobile apps suggests that businesses may be shifting in this direction anyway. The latest app to emerge onto the enterprise scene is Dash, developed by Karmic Labs. Karmic announced Wednesday (April 22) that Dash has emerged from beta phase and will now be launched to serve more business customers with its cash flow … Read More
All eyes are on alternative lending as the market grabs headlines with massive IPOs and high-tech solutions to cash flow management. Industry players are seen as the alternative to big banks, which turned many small business loan applicants away or hit them with high interest rates in the wake of the 2008 financial crisis. But as the economic recovery progresses in the U.S., banks have often maintained their edge over alternative lenders for SME financing. … Read More
International payments provider Currency Cloud has made its way to the United States. The company, whose API facilitates cross-border payments for businesses, announced yesterday (April 21) that it has opened its first U.S. office, located in New York City. The company’s API — called its Payment Engine — currently provides over 100 FinTech firms with the ability to fully automate and manage all aspects of their international payments. Currency Cloud, which first launched in London … Read More
The volume of Automatic Clearing House payments spiked to nearly 23 billion electronic payments in 2014, and B2B payments played a major role in that growth, according to new data released Thursday (April 16). NACHA – The Electronic Payments Association released the figures of its latest survey of ACH, revealing that more than $40 trillion worth of funds were transferred over the ACH Network. That number represents a three percent increase from 2013, reports said. … Read More
Negotiations with Apple and Canadian banks to launch Apple Pay north of the U.S. border could have the mobile payment service up and running in Canada as early as November, The Wall Street Journal reported. This move would be the first step in Apple Pay going international, and comes at a time when Apple is having difficulties making progress in China and the U.K. to bring Apple Pay to those regions. The WSJ’s report indicated … Read More
“Dorsey is the only guy in the industry who’s thinking about payments in a deep way, and Square is the only payments company that’s innovating on hardware, software, and price. Now, as we approach the launch of the Starbucks collaboration, I think we’ll see this approach pay off. This will be Square’s moment: Millions of people will see its magical payment system in action for the first time. Once they get hooked on it, they … Read More
Google Wallet just made its digital wallet a little more secure. According to a Yahoo Finance report, Google has taken the necessary steps to making its mobile payments service FDIC-insured — giving its users a safer way to store their money. While the FDIC insures banking funds up to $250,000, when it comes to money being stored in mobile wallets, it’s a bit less secure because of how they are categorized under financial regulations. Similar to prepaid … Read More
Late payments are costly. Extending payments beyond invoice terms increases both the financing and administrative costs associated with trade debt. Finding a way to manage these rising costs is the top challenge to profitability for Western Europe’s businesses over the next year. About one-quarter of respondents consider cost-containment their number one issue. According to the report, titled “Atradius Payment Practices Barometer,” invoices across Western Europe are paid 21 days after the due date; an increase … Read More
For Japan’s retailers wanting to offer customers robust rewards programs, the hurdles are high. According to reports, advertisers in the nation can only offer these services for their digital shoppers. But a new partnership between MasterCard and ValueCommerce will break down some of these barriers and allow advertisers to offer rewards programs and other loyalty tools for consumers visiting brick-and-mortar locations. The companies announced their collaboration on Thursday (April 16), revealing plans to launch a … Read More