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    Chase introduced a convenient feature to their iPhone app almost two years ago: photo check deposits. Instead of going to a bank, users can now deposit checks by simply snapping pictures of the front and back using the Chase Mobile App. This update streamlined the deposit process for Chase customers.
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    Amazon, the leading online retailer, is expanding its reach by offering e-commerce technology to other businesses with the new Amazon WebStore. This platform allows retailers to utilize Amazon’s services and benefit from the company's strong reputation in online shopping. Experts believe this offering is compelling, enabling businesses to leverage Amazon's technology and consumer trust.
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    Credit card tokenization is gaining traction as a solution for merchants navigating strict payment card industry rules on data storage. This process replaces actual credit card numbers with secure tokens, making stolen data useless to hackers and simplifying storage for businesses. Tokenization offers benefits like easier PCI compliance, simplified recurring billing, and cost savings, and is often a free service from payment providers.
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    In 2009, the ACH Network saw a 2.6% increase in transaction volume, reaching 18.76 billion transactions, driven by growth in direct deposit, B2B payments, and consumer internet transactions. Notably, unauthorized debits decreased by 9.6%, demonstrating improved security and risk management within the network. The adoption of new transaction types like Back Office Conversion and International ACH Transactions further contributed to the network's expansion and efficiency.
  • Published on
    Credit card tokenization is gaining traction as a security measure, converting sensitive credit card numbers into non-sensitive tokens to protect cardholder data. This process allows merchants to securely store tokens for re-billing purposes without exposing actual credit card numbers, reducing PCI compliance burdens. Merchants should inquire with their service providers about tokenization services to enhance data security and streamline payment processes.