Sentences with phrase «traditional payments industry»

«Businesses working in the traditional payments industry are usually excited about getting involved with Bitcoin once all of their skepticism has been addressed,» she said.

The traditional payments industry is headed for an upheaval as more small businesses begin accepting Bitcoin and more payment startups rise to meet the growing demand.

Not exact matches

On top of the risk of federal prosecution, IRS targeting and asset seizure, cannabis entrepreneurs have to cope with the hazards of conducting a business that deals mostly in cash, since a majority of traditional financial institutions — banks, credit card issuers, and payment transaction companies — won't provide services to the industry.

In the payment industry right now, we have traditional competitors, but we also have new competitors like Apple, PayPal and Google.

They were founded at a time when the efficiency of the traditional industries was low: e-commerce gained massive user number because classical retail was underdeveloped; delivery companies expanded because of the unreliability of China Post; healthcare apps gained momentum because of the inefficiencies of the healthcare system; mobile payments took the population by storm because plastic never had time to gain traction.

Alibaba's interest in WeLab isn't surprising because of its focus on using technology to disrupt the traditional banking industry in China through Ant Financial, its financial services arm, and online payment system Alipay.

Using PRIME's proprietary social media analytics methods and technology, the research firm identified 13 million relevant social media posts from March 2013 to December 2013 on the subject of mobile payment innovation in the context of MasterCard and its industry peers; sentiment analysis shows the majority of posts were driven by news - story sharing 92 % positive / factual, only 8 % negative tone overall which is a reflection of the original content as it appeared in traditional news outlets.

The traditional payment and money transfer industry have remained practically stagnant in the last century because traditional financial institutions are inherently averse to change.

Through this referral partnership we hope to reach a number of merchants that are largely new to bitcoin, bridging the gap between the traditional and modern payments industry.

«As the payment industry expands, efforts by fintechs should be directed at innovative financial products that provide efficiency gains and cost savings compared with the traditional payment methods.

Added to that is the threat of «disrupters» to the financial industry such as mobile payment and digital wallet services such as Apple Pay — which is taking bites out of bits and pieces of the more lucrative areas of traditional banking business.

From flat fee payment arrangements to approaching legal matters from a project management perspective, traditional hourly billing models no longer define the legal industry.

Industry sources say Apple believes its iPhone payments system will be at least as secure as traditional payment cards.

«Where we work directly with a large number of small scale growers and producers around the world, many of whom are underserved by the traditional banking industry, cryptocurrencies offer opportunities to speed up payments directly to our suppliers and reduce the costs associated with these transactions.»

The chief executive of the startup pointed out that the company is being put under extreme pressure to operate in sync with traditional legacy payment systems pertaining to banking industry which process repayments received from borrowers before forwarding the same to the contract's token holders.

Certain industries were even able to use Bitcoin to replace traditional payment methods altogether.

Traditional payments giant First Data sent a ripple through the bitcoin community last month when the company announced it had acquired mobile gift card provider and long - time bitcoin industry advocate Gyft as part of a deal with undisclosed terms.

Small to medium - sized business owners, especially in traditional industries, require certainty and security of payment methods.