Month: October 2020

According to a recent report by The Financial Times, Apple is increasing its efforts in developing its own search engine for iPhones. This could be a viable alternative to Google’s search engine. 

The report noted that users with iOS 14 on their iPhones get shown Apple’s own search results as opposed to Google’s own. The new software update also includes suggestions for users who wish to auto-complete their queries. This indicates that the technology is learning the most common searches from its users. 

Such a new search capability also calls attention to advances to Apple in terms of in-house development, according to the report. The report then noted that approximately two and half years ago, the Silicon Valley company poached John Giannandrea, who was the head of search at Google. 

As for in-house search capability, the report noted that urgency was added to the initiative due to a case that was launched in October 2020 by the U.S. Department of Justice. 

The case pertained to Google’s payments to Apple in terms of having Google be the default search engine tool for iPhones. The U.S. Department of Justice cited “public estimates” indicating that such payments to Apple were between $8 billion and $12 billion per year. 

Additionally, according to The Financial Times, marketing experts noticed increased activity from Applebot. Applebot is a web crawler that is used to create search engines via a database of online material. 

In recent years, the Silicon Valley company has hired numerous search experts. In addition to Giannandrea, advertisements for Apple positions have been posted frequently. 

Technology is always helping companies gain advantages over their competitors. The same philosophy applies to merchants who wish to take their businesses to the future. PayFrame is here to provide that support through the best payment processing rates and solutions. For more information, contact a representative at either 1-888-668-0733 or info[at]merchantbroker.com.

Google and Skipify have teamed up to allow users to shop and make purchases inside of the emails. The Shoppable Email program enables Gmail account owners to use a shopping cart inside their digital messages. Real-time information about different products can also be seen by consumers.

According to the announcement, merchants who are participating in the new Shoppable Email program experienced a 30+% increase in revenue via email. This is in tandem with decreasing the rate of unsubscribers by 50%. 

The program arrives amid the worldwide coronavirus (COVID-19) pandemic, which has caused online revenue to skyrocket. The announcement also noted that emails have historically been the highest return on investment (ROI) marketing channel and now it has never been more crucial for brand strategies. 

Merchants who wish to participate in the Shoppable Email program can head on over to the official Skipify email page. The website requires interested business owners to fill out a form that encompasses their full name, website, email address, phone number, and company name. 

In most cases, merchants can join the new program without the need to change their email provider. Moreover, there is no email coding required of them. Skipify would work with participants to allow access to the email program while maintaining the shopping feature of their messages within Gmail. 

Ryth Martin, the CEO and founder of Skipify, said the company is thrilled to be working with the Gmail team in order to bring shopping into consumer inboxes for the first time ever. “We are in the very early stages of a shift to unlock commerce and payments within and across channels. Skipify is here to help brands drive and capitalize on that shift,” Martin added.

Both Skipify and Google hosted a free-of-charge event on Oct. 26 where attendees had the opportunity to learn more about the new program. Those who were unable to attend the event received a recording of it via email. 

As technology continues to change the way consumers make their purchases, merchants must stay up-to-date with new innovations that will bring their businesses to the future. With the help of cutting-edge technology and a team of professionals who are experts at payment processing solutions, business leaders can take their companies to the next level. 
PayFrame is here to help pave the way for both innovation and success through effective payment processing solutions that yield tangible results. To receive more information, contact a representative at either 1-888-668-0733 or info[at]merchantbroker.com.

The worldwide coronavirus (COVID-19) pandemic has encouraged consumers to look for contactless payment options. According to a PYMNTS report, along with this trend arrives an increase in donations to charities and an uptick in comfort in terms of peer-to-peer (P2P) payment platforms. 

Silvana Hernandez, who is the senior vice president of digital payments at Mastercard, also informed PYMNTS that although there wasn’t a way to prepare for the pandemic, there were nonetheless existing payments infrastructure in place to support consumers. 

“Since the beginning of COVID-19, we have been seeing P2P services and platforms growing in terms of adoption and usage, and I think it’s mainly because of two factors,” she added.

Hernandez also noted the significance of how consumers have been viewing payments being made in cash. The transmissions of COVID-19, in the mind of some consumers, can be attributed to the handling of cash.  

Another reason for the decrease in cash payments is the fact that consumers are simply not leaving their homes due to social distancing measures and to protect themselves from COVID-19. Of course, this led to a lack of face-to-face interactions. Hernandez added how many individuals now shop, work, and attend school through digital means as well. 

“Everything is moving to digital, including the way we interact with each other — and also the way we pay each other,” she said.

In terms of charitable contributions, they also play a role in increasing the uses of P2P services, according to Hernandez. Participating in either donations or support initiatives among individuals who may be facing challenging times themselves contribute to the use of P2P. 

Alongside this trend is the transition to technological innovations. It is expected that individuals will always find ways to support, interact, and connect with each other through new ways of utilizing P2P services. 

PayFrame is here to provide support to businesses through innovative payment processing solutions amid the COVID-19 pandemic and beyond. Finding the best-suited solutions may be a challenge; especially in a shifting payments ecosystem, however, experts at PayFrame are ready to work closely with stakeholders in order to help them meet their revenue goals, increase their profit margins, and improve customer retention rates. 
For more information, call 1-888-668-0733. PayFrame may also be reached via email at info[at]merchantbroker.com.

The worldwide coronavirus (COVID-19) pandemic has brought upon unprecedented disruptions across various industries. The effects pertain to how businesses now operate, how technological innovations are becoming more and more crucial to public health and safety, as well as how executives in finance are driving more value than even in terms of strategies for sustainable growth. 

According to a recently published report by Accenture, it was found that chief financial officers (CFOs) within companies have been reinventing themselves to reach these goals. The study also uncovered different trends and challenges related to the new norm, as well as provided what some of the best practices would be moving forward. 

In terms of how the financial duties of CFOs evolved, it encompassed three main themes. The first theme pertained to the digitization of finance along with harnessing the power of data. An increasing focus on value creation through digital means have allowed CFOs to improve upon their strategies. Additionally, valuable insights can be gathered via data analysis. 

Another theme pertained to becoming leaders of digitization efforts. The findings noted that CFOs play an important role in terms of moving businesses to the future. By developing data capabilities, these individuals can then make informed decisions in terms of investing in technology based on economic value. The study also said that this, in turn, would empower CFOs to gain access to even more useful information. 

As for the third theme, it was noted that CFOs must make changes in terms of their talent development and hiring criteria in order for the next generation of leaders to update and expand upon the current requirements of the role. Skill gaps, for example, should be properly addressed in order for future CFOs to gain the expertise required in order to help support business functions at an optimal level. 

The report also addressed a significant shift towards automation as such an innovation not only reduces costs, but also improves productivity levels and allows workers to drive profits through critical thinking skills. 

Christopher Weber, the EVP and CFO at Halliburton, for example, created a plan to use automation for transactional activities that get pushed into his business’ service centres. “This will free up time for our people to be more focused on higher value work such as analysis and trendspotting,” he said. 

Additionally, the report found that 81% of CFOs saw that looking into areas of new value across companies as a main responsibility. Meanwhile, 77% of those surveyed said contributing to business-wide transformation is also part of their duty. With such findings and statistics in mind, businesses of all sizes, along with their CFOs, should consider investing time in areas that will drive transformation and long-term value. Strategic planning, analytics, and technological innovations are must-haves for companies that wish to continue succeeding in the future.

PayFrame is here to provide support in terms of innovative payment processing solutions that not only improve profit margins, but ensures that customer needs are met with a high level of satisfaction. To receive more information, contact an expert at either  1-888-668-0733 or info[at]merchantbroker.com.

When running a business, it is important to ensure that one’s customers are not victims of fraud or are in constant demand of chargebacks due to purchases that they may not recall. Negative tension between a merchant and their customers not only hurts a business in the long term, but can also have an effect on profit margins. 

Recently, Karen Webster from PYMNTS conducted an interview with Johan Gerber to shed some more light on the subject of fraud. Gerber is the executive vice president of security and cyber innovation at Mastercard.

In the interview, Gerber said that consumers often deal with businesses they did indeed shop at, however, confusion caused by names within credit card statements may make the transaction not immediately recognizable. The confusion would then lead to a significant amount of chargebacks.

“By 2021, we’re looking already at a cost of $8.6 billion related to chargebacks and disputes for the [United States] alone,” Gerber elaborated. “And of course, if there’s that amount of cost, it has to be absorbed somewhere in this ecosystem — which means it impacts all of us down the line.”

There is still hope in terms of the rate at which digitization continues. However, it should also be noted that the issue can get worse before it improves, according to the PYMNTS report.  

The report then noted the use of Ethoca, which Mastercard uses as its dispute resolution technology. With Ethoca, Mastercard hopes to create an initiate that can help customers better understand their card statements. For instance, the system can put an image of a business’ logo next to transactions. In turn, this would inform and remind customers of their authorization. 

“Ultimately, we hope [this] will actually reduce the confusion and therefore reduce the churn and chargebacks,” Gerber said. 

A step in the right direction would be to have merchants work closely with Mastercard in terms of giving the credit card company the correct logos. With this type of information, transactions can be matched to their respective merchants. Additionally, according to the report, Mastercard plans to attach an image to online receipts that customers can click on to view more details. This would further help eliminate uncertainty. 

Taking one’s business to the future not only requires clear communication strategies, but also trusted payment processing solutions. PayFrame is here to match clients with the best solutions on the market and help increase profit margins through different revenue streams. 

To receive more information, contact a professional at either 1-888-668-0733 or info[at]merchantbroker.com.

Are biometric card payments the future of business?  

According to a recent announcement, Mastercard is set to launch a biometric card in Asia that will use the power of fingerprints. A card owner will get to authorize and complete their purchases at store payment terminals by confirming their identity with this type of new technology. 

Mastercard has teamed up with both MatchMove and IDEMIA. The former company specializes in fintech and are based in Singapore, while the latter is a global leader when it comes to augmented identity. 

“We are excited to partner with IDEMIA and Mastercard to pioneer cutting-edge solutions that empower our customers to make safe and secure payments,” Amar Abrol, the chief commercial officer at MatchMove, said. He added how leverage the new card will allow its clients to create greater utility and value for their customers, partners, suppliers, and employees. 

The name of the card is F.CODE Easy, and it will make transactions more safe, secure, and convenient, according to the announcement. This is because the cardholder will no longer be required to enter a PIN number or give out their signature when making purchases. Additionally, the technology will allow shoppers to reduce the number of touch points when it comes to public locations. 

F.CODE Easy will also require no batteries in order for it to function properly. Instead, the card will harvest energy from the payment terminals in order to power up its sensor that identifies a user’s fingerprint. 

“As people make a permanent move to contactless transactions, the biometric card promises more choice and greater security for consumers,” Matthew Driver, the executive vice president at Mastercard Asia Pacific, said. 

Driver added how Mastercard’s focus on digital commerce goes hand-in-hand with this new solution, which is a testament to the company’s  innovative partnerships. Additionally, the new card aligns with Mastercard’s mission to give users a safe and frictionless payment experience. 

Vincent Mouret, the senior vice president of financial institutions at IDEMIA Asia Pacific, expressed his excitement on shaping the future of biometric payments. “We are delighted to partner with Mastercard and MatchMove to launch F.CODE Easy in Asia and we look forward to continuing to work together to provide end-to-end security for fintechs,” he said. 

According to a study conducted by Mastercard, approximately six in 10 consumers believe that the transition to digital payment methods is likely to last. About 50% of those surveyed also plan to minimize their use of cash even after the worldwide coronavirus (COVID-19) pandemic passes. 

As technology continues to change business practices and they way consumers make their purchases, it is important for merchants to keep up with the times and adapt to the use of innovative solutions. 
PayFrame is here to provide that support to business owners across the globe. For further information and to take your company to the next level and the future, contact one of our experts at either 1-888-668-0733 or info[at]merchantbroker.com.

Recently, sending platform Sendoso announced its partnership with Cameo to bring celebrity experience to B2B buyers. Cameo is a platform that specializes in connecting consumers with their favourite celebrity icons. The announcement arrived alongside Sendoso’s launch of new features on its platform, which would provide consumers with more memorable and personalized experiences. 

By working with Cameo, Sendoso’s customers would be able to better connect with leads via the use of celebrity videos. These videos will be customized to the recipients, and teams working in sales, marketing, or customer experience will be able to use this type of content to gain a unique advantage over competitors. Additionally, the personalized videos can be used to prompt buyers to take action. 

An example of the new integration in action would be sending a unique video message to a prospective customer. The celebrity within the video would then explain why the recipient would be a good fit in terms of a company’s offer. The recipient would then experience an improved buyer’s journey. 

“It’s become harder than ever to cut through digital clutter and make a real impact on customers,” Kris Rudeegraap, the CEO and founder of Sendoso, said in a press release. 

Rudeegraap added how the partnership with Camero would enable customers to deliver experiences that also work to maximize return on investment (ROI). Sales, customer experience, and sales teams would be empowered to successfully close out 2020. 

“It’s unique, creative, fresh, and helps you to stand out from your competition,” he said. 

The year 2020 has been unprecedented due to the novel coronavirus (COVID-19) pandemic. However, businesses that continue to survive and thrive include the ones that have been able to change and evolve their marketing strategies. The “new normal” requires the power of both Sendoso and Cameo, as together, the companies connect teams to deliver high engagement rates, customer acquisition, as well as retention. 

“Cameo’s mission has always been to connect people through meaningful experiences and engagements with their favorite celebrities,” Steven Galanis, the CEO and co-founder of Cameo, noted. Galanis said taking a jump into the B2B world would help with his company’s own growth. Already, the teams are seeing creativity in terms of integration. 

As the B2B landscape changes amid the worldwide pandemic, business teams require innovative solutions in order to keep up with new needs and demands. PayFrame is also here to provide businesses with support pertaining to technological innovations within the payments ecosystem. 

To either get started or receive more information, contact an expert at 1-888-668-0733. An expert from the PayFrame team may also be reached via email at info[at]merchantbroker.com.

The year 2020 has been unprecedented in terms of business changes due to the worldwide coronavirus (COVID-19) pandemic. One of such changes involves the digitization of documents while social distancing measures require office employees to work from home or from other remote locations.  

When it comes to business payments, they have also changed in terms of finding solutions that help mitigate the use of paper cheques. Other pressures related to cash flow have been pushing companies to adapt to digital transformation and online payment solutions. 

According to Katrina King, the executive vice president and treasury management sales manager at Cadence Bank, many firms using manual processes to finalize transactions have been compelled to seek out less paper-reliant treasury services. 

“What we have seen [during] the pandemic is it has really forced more of our clients to move into that automation world while they are working from home, since they no longer have access to the information at their fingertips as if they were in the office,” King said in a PYMNTS interview. 

She added that in order to receive financial management assistance, firms have been looking into web-enabled solutions. 

Bridgit Chayt, the senior vice president and director of commercial payments and treasury management at Fifth Third Bank, also highlighted what firms have been facing amid the pandemic. 

According to Chayt, the B2B world has always been slow in terms of change. This is because individuals are set in their ways when sending out bills, invoices, and disbursements. Additionally, the same can be said for having set ways for accepting payments from either vendors or partners. 

Payments involving the use of paper, such as cheques and invoices, have become so ingrained in terms of business transactions. The COVID-19 situation only showed the significant reliance on such manual processes. 

“I think the COVID-19 pandemic has forced all of the companies that had the luxury of an in-store presence and connection with their clients to rethink that to help replace the revenues,” King added. An example would be businesses that can now accept credit card payments online as opposed to requiring customers to use a card swipe reader. 

As the pandemic continues to change business operations, it is crucial for merchants to be up-to-date with the latest technology integrations. The PayFrame team is here to provide that support by working closely with clients across the globe. As a global leader in brokering merchant accounts and the ultimate resource for payment card acceptance, PayFrame helps clients achieve more while delivering an outstanding customer experience. 

To receive more information, contact a member of the team today at either 1-888-668-0733 or info[at]merchantbroker.com.

The worldwide coronavirus (COVID-19) pandemic has undoubtedly changed consumer shopping habits. As social distancing measures, as well as health and safety measures continue to become more prioritized to ensure the wellness of consumers, merchants have been turning to digital solutions when it comes to payment processing solutions. 

This is in addition to ensuring that ecommerce stores are running optimally to ensure smooth transactions during the digital checkout process. According to an April 2020 Mills Agency survey, it was found that 73% of adults in the United States were more likely to use digital payment methods and online banking while they partake in social distancing. Additionally, respondents who were earning more than $50,000 on an annual basis were even more likely to make digital transactions. 

A survey by J.D. Power had similar findings, according to eMarketer. It was found that more than 33% adults in the United States stated they would use online tools and their mobile devices for banking purposes. Meanwhile, 23% of those surveyed said they planned to do cheque deposits via their smartphones more often. While 20% of Americans said they would decrease their amount of in-person visits to their banks, 18% said they planned to educate themselves more about different types of online banking services. 

Recent news about the Bank of Canada also helps uphold the shift towards online transactions. The financial institution, for example, has begun the exploration of products such as a central bank digital currency (CBDC). However, according to a Reuters report, Deputy Governor Tim Lane noted during a panel that there has not been a specific time frame for its launch. 

“The main point, I think, is this is all looking a lot more urgent because of the speed with which technology is evolving,” Lane said. “With COVID, we’ve seen an acceleration of the shift of activities online and that suggests if we want to be ready to develop any kind of digital central bank product, we need to move faster than we thought was going to be necessary,” he added. 

Transaction could be streamlined with the existence of a digital currency and the avoidance of a payment card for online transactions as well. Reuters additionally noted that Lane once said the  Bank of Canada could launch a CBDC should a private cryptocurrency cause concerns about privacy. 

As financial institutions work on digital currencies to help meet the needs of a world changed by the pandemic, private cryptocurrencies such as Facebook’s Libra stablecoin are also gaining notice as payment options. 

The ever-changing shift towards new technologies for smoother transactions require merchants to adapt and learn more about the best payment processing solutions available. PayFrame is here to guide businesses through such options and work together with stakeholders in order to find the best solution suited for each given situation.

To receive more information and the best payment processing rates and solutions today, contact PayFrame at either 1-888-668-0733 or info@payframe.com.

What is the current state of cash payments amid the worldwide coronavirus (COVID-19) pandemic? According to a recent report by PYMNTS and Visa, the notion that “cash is king” is no longer true. 

In the report, it was found that in the context of the more digital economy, the use of cash is now only a fraction of what it used to be in the past. Using a survey of more than  9,500 American consumers, PYMNTS and Visa found that the pandemic contributed to the acceleration of this trend. The report noted that consumers showed an increasing preference for contactless transactions. 

Additionally, 80% of those surveyed noted that their interest in digital experience was due to their ability to help reduce the exposure to COVID-19. By using contactless payment moths and avoiding the handling of cash, consumers can, therefore, support health and safety procedures. 

It should be noted that the findings also indicated how using cash has dominated commercial activities for a significant amount of time. However, such a share “has all but disappeared.”

However, it should be noted that there was an expedition to the study. Approximately 48% of consumers noted that tipping workers was one of the primary reasons for still having cash around. 

Merchants should always take note when it comes to the latest consumer trends and needs. In fact, according to another study conducted by PYMNTS, it was found that more than 33% of purchasing decisions made by consumers relied on the different payment options offered. As an example, about a third of retail shoppers preferred to use contactless technology for in-store transactions. 

As consumers transitioned from purchases made by cash to more digital options, businesses should consider investing in new technology such as sensors, automated systems, or other payment processing solutions. 
PayFrame is here to provide support to businesses in terms of providing the best payment processing solutions available. To receive more information, contact a professional at 1-888-668-0733. Alternatively, an experienced member of the PayFrame team may be reached through email at info@payframe.com.