Latest news with #merchants
FF News
18 hours ago
- Business
- FF News
Adopting Crypto Payments: How Cryptocurrency is Transforming Businesses
The adoption of cryptocurrency payments is revolutionizing the business landscape, offering companies a competitive edge, expanding market reach, boosting revenue, and fostering innovation. As digital currencies continue to gain global traction, businesses that embrace crypto payments position themselves to tap into new customer segments, improve financial efficiency, and future-proof their operations. At the forefront of this transformation is DigiBlox—a next-generation crypto payment gateway that empowers merchants to accept, manage, and convert crypto payments through a secure, intuitive platform. This article explores the growing impact of cryptocurrency on various industries and how businesses can benefit from this digital shift with the right tools and partners. E-Commerce: Expanding Global Reach and Sales Cryptocurrency payments are reshaping the e-commerce industry by enabling faster, lower-cost, and more secure transactions. Traditional payment methods often come with high processing fees, long settlement delays, and geographic limitations, particularly when dealing with cross-border sales. By integrating crypto payments, merchants can attract a global audience of tech-savvy shoppers and digital-native consumers, reduce dependence on banks, and eliminate fees typically associated with credit card networks. DigiBlox addresses these needs by offering real-time crypto-to-fiat conversions, multi-currency support, and instant settlement—features that mitigate volatility and improve liquidity. E-commerce businesses can also benefit from the platform's fraud-resistant design, which eliminates chargebacks and provides greater transparency. This seamless, cost-effective alternative improves customer satisfaction and opens doors to new revenue streams. Retail: Attracting a Broader Customer Base Retailers that adopt cryptocurrency payments gain a strategic advantage by appealing to a growing demographic of crypto users who value privacy, speed, and decentralization. Accepting digital assets not only helps reduce transaction costs but also positions retailers as innovative, tech-forward brands in an increasingly competitive marketplace. DigiBlox enhances this opportunity with features like customizable fee structures, allowing merchants to decide whether they or the customer will cover transaction fees. Additionally, retailers benefit from DigiBlox's flexible currency preferences, enabling them to receive payments in their preferred fiat or stable coin regardless of the cryptocurrency used at checkout. These tools streamline point-of-sale integration while deepening consumer trust and loyalty. Travel and Hospitality: Simplifying Bookings and Payments In the travel and hospitality sector, cryptocurrency adoption streamlines international transactions by reducing reliance on traditional banking systems and costly currency exchanges. Booking hotels, flights, and tours through conventional channels often incurs conversion fees, delayed payments, and a higher risk of fraud—especially for international guests. DigiBlox eliminates these pain points with its enterprise-grade security, real-time analytics, and cross-border readiness. Travel operators can accept a wide range of digital currencies and receive instant conversions into their local currency, improving operational efficiency and cash flow. The platform's unified dashboard also offers insights into traveler behavior and payment trends, making it easier to tailor services and marketing strategies to a global audience. For travelers who prioritize convenience, security, and transparency, crypto payments represent a welcome upgrade. Conclusion: The Future of Crypto Payments in Business The adoption of cryptocurrency payments is more than a passing trend—it represents a foundational shift in how businesses operate in the digital economy. From e-commerce to hospitality, crypto payment solutions are driving innovation, reducing operational burdens, and enabling companies to connect with a broader, more digitally fluent audience. DigiBlox plays a key role in this evolution, offering an all-in-one platform designed to simplify and scale crypto adoption for merchants and enterprises alike. With features like instant settlements, fraud prevention, global compliance, and user-friendly integration, DigiBlox is helping businesses reimagine the future of payments. As digital currencies continue to gain mainstream acceptance, companies that embrace this transformation today will be best positioned for sustainable growth and long-term success. For forward-thinking businesses, the time to unlock the potential of crypto payments is now.
Zawya
6 days ago
- Business
- Zawya
Tap‘N'Go from Bank Muscat: Enhanced payment experience
Muscat: As the Khareef season now underway, attracting thousands of visitors to Dhofar, Bank Muscat, the leading financial service provider in the Sultanate of Oman, continues to provide the latest digital solutions to facilitate payment processes. The Bank offers the Tap'N'Go payment service which is a contactless payment service, enabling merchants and business owners, to accept card payments directly via their smartphones. This service is an ideal option for small businesses such as food trucks and stalls, allowing them to receive payments from international visitors quickly and easily, without the need for point-of-sale devices or cash handling. Any Android smart device can accept payments using the Tap'N'Go application, which supports all major cards that comply with Near Field Communication (NFC) technology. The service targets home-based business owners, small retail shop owners, food truck and cafe owners, delivery companies, taxi drivers, startups and other business owners. Customers who are holding a merchant account with Bank Muscat can enjoy a seamless and secure payment experience through Tap'N'Go payment service, especially during the Khareef season. The Tap'N'Go payment service is an important addition to the digital payment options offered by Bank Muscat. This service enhances customer experience, especially during the summer and travel season when visitors need fast and efficient payment solutions. This service will enable merchants to receive payments more efficiently, contributing to the economic activity in Dhofar. The Tap'N'Go payment service is part of a broader range of digital solutions launched by Bank Muscat, including Samsung Pay, Apple Pay and QR code payments, enhancing customer experiences and facilitating daily financial transactions. Bank Muscat is keen to adopt top-notch banking services, enabling customers to complete their transactions safely in no time. The innovative digital solutions are designed to meet customers' needs and fulfill their changing requirements. © Muscat Media Group Provided by SyndiGate Media Inc. (
Yahoo
6 days ago
- Business
- Yahoo
Can a merchant store my credit card details without permission?
Key takeaways Storing your credit card information makes it easier for merchants to facilitate future and recurring transactions. For data security or consumer privacy purposes, however, you may not want merchants to retain your credit card details. State laws, card industry security standards, FTC guidance and other regulations all influence how and when merchants are allowed to store your card details. If you shop frequently at particular merchants with your top credit cards, you might find that allowing them to store your card information can streamline your transactions at checkout. And if you have recurring charges — like those for streaming or subscriptions — allowing for the storing of your card details helps merchants to automatically bill you each month without asking for your card information each time. That's well and good — especially when you've consented to storing your data. But can a retailer store your credit card details without permission? Can companies keep your credit card details on file without permission? The short answer is no. While there is no rule that governs how or when issuers can store your card information, many states have laws on the books to deal with credit card fraud, which fall under the umbrella of financial transaction card fraud. Laws like one passed in Georgia explicitly bar merchants from using your card without your permission or authorization. This means companies can only keep your credit card details on file and use it for transactions with your consent. Security standards for merchants The type of credit card information that merchants are allowed to store after consent is given is dictated by the Payment Care Industry Security Standards Council (PCI SSC), an organization founded the by credit card issuers and networks American Express, Discover, JCB International, Mastercard and Visa. The PCI SSC sets security standards for merchants that transmit, process or store payment card account information and provides best practices that merchants are required to comply with. Its purpose, as noted on page 8 of its Quick Reference Guide, is to 'encourage and enhance payment account data security and facilitate the broad adoption of consistent data security measures globally.' Some of its best practices for storing and transmitting card data include: Pin transaction security Software security Point-to-point encryption Mobile security standards Compliance with the PCI Data Security Standard (PCI DSS) requires merchants to limit storing and retaining customer names, card account numbers and expiration dates only for the time required for business or legal purposes. And it explicitly frowns on merchants storing, for example, a card verification value (CVV) or personal identification number (PIN). By following these standards after you've given consent to store or use your credit card information, merchants protect your privacy and can help combat identity theft and fraud. You can opt out of automatic online card storing As you shop online, you've likely received a prompt from the site asking if you would like to save your card information to make it easier to shop in the future. It's one way for merchants to lure you back for future purchases. However, you shouldn't need to allow the retailer to store your card information to continue your purchase. Rather, most retailers allow you to check out as a guest, completing the transaction without allowing the site to retain your card details. If that isn't an option, a workaround is to provide your card information to complete the transaction and then edit your payment options after it's complete to remove that information. Learn more: Is it safe to give an app my credit card information? Federal Trade Commission weighs in The Federal Trade Commission (FTC) agrees that merchants shouldn't collect information they don't need, further advising that, if a merchant does collect card information, it's in their interest to hold on to it only as long as there is a real business need to do so. This means that, while a retailer needs your card information to process a transaction, it shouldn't store it if the merchant doesn't anticipate future transactions. And once a business decides that it must store your card details, the FTC requires it to safeguard this sensitive information adequately, including from employees that don't have any business with your information. The bottom line Merchants will typically ask you for permission before storing your card information to avoid running afoul of laws, and it's common for online sites to ask to store your information to facilitate future transactions or to enable recurring charges. But if there's no legitimate business need, stringent industry data storage laws advise there's no incentive for a merchant to store your card information.
Finextra
7 days ago
- Business
- Finextra
Worldline launches AI-powered routing tech
Worldline [Euronext: WLN], a global leader in payment services, today announces the launch of its AI-powered routing solution, changing how businesses route payments globally. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Following successful pilots, the solution has delivered increased authorisation rates by more than 2% in addition to the 3% improvement achieved with its rule-based routing. Payments are routed through acquirers, and choosing the most suitable one leads to increased authorisation and optimised costs. Worldline's enhanced routing solution now leverages artificial intelligence (AI) to analyse transaction data and select optimal payment routes in real time to further uplift conversion rates. Some of the pilot merchants experiencing an uplift of over 2% in authorisation rates (on top of 3% with rule-based routing). The existing rules-based solution routes transactions to the acquirer with low interchange fee, with one customer witnessing a €1.63M boost in revenue. By boosting authorisation rates and reducing cost, Worldline helps customers to maximise profit margins with no extra effort. The solution offers a unique dual-layered routing strategy, combining the reliability of predefined rules with the adaptability of machine learning. This allows businesses to adjust their payment processes to fit specific operational needs. Key features of the full solution include: • Omnichannel capability: the rules-based service can be used from multiple touchpoints for both online and in store transactions. • Global reach: supports multi-currency, multi-acquirer environments with intelligent cross border payment handling. • AI-powered routing: this feature used global online businesses selects the most favourable acquirers, increasing conversion rates. Khalil Kammoun, Head of shared services at Worldline, commented: 'With AI-driven routing, we're enhancing authorisation rates through smarter decision-making and unlocking new revenue for our customers. At Worldline, we view payments as a growth driver for businesses and through this solution, we are delivering on that promise. Our aim is to enable businesses to achieve new levels of efficiency, cost savings, and payment optimisation.' Worldline's AI-based solution is already being used by global e-commerce customers and will soon be available for other Worldline payment platforms. The solution positions Worldline as a trusted innovator and leader in the global payments industry, setting a new benchmark for intelligent transaction management.
Times of Oman
7 days ago
- Business
- Times of Oman
Tap‘N'Go from Bank Muscat: Enhanced Payment Experience During Khareef Season
Muscat: As the Khareef season now underway, attracting thousands of visitors to Dhofar, Bank Muscat, the leading financial service provider in the Sultanate of Oman, continues to provide the latest digital solutions to facilitate payment processes. The Bank offers the Tap'N'Go payment service which is a contactless payment service, enabling merchants and business owners, to accept card payments directly via their smartphones. This service is an ideal option for small businesses such as food trucks and stalls, allowing them to receive payments from international visitors quickly and easily, without the need for point-of-sale devices or cash handling. Any Android smart device can accept payments using the Tap'N'Go application, which supports all major cards that comply with Near Field Communication (NFC) technology. The service targets home-based business owners, small retail shop owners, food truck and cafe owners, delivery companies, taxi drivers, startups and other business owners. Customers who are holding a merchant account with Bank Muscat can enjoy a seamless and secure payment experience through Tap'N'Go payment service, especially during the Khareef season. The Tap'N'Go payment service is an important addition to the digital payment options offered by Bank Muscat. This service enhances customer experience, especially during the summer and travel season when visitors need fast and efficient payment solutions. This service will enable merchants to receive payments more efficiently, contributing to the economic activity in Dhofar. The Tap'N'Go payment service is part of a broader range of digital solutions launched by Bank Muscat, including Samsung Pay, Apple Pay and QR code payments, enhancing customer experiences and facilitating daily financial transactions. Bank Muscat is keen to adopt top-notch banking services, enabling customers to complete their transactions safely in no time. The innovative digital solutions are designed to meet customers' needs and fulfill their changing requirements.
