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Showing posts with the label Payments Industry

2015 Payments Industry Trends

The credit card sector is a large, growing, and profitable segment of financial services, but it must soon address four emerging challenges.    Who would have thought that the payments sector would be so prominent in 2014? Once a quiet corner of the financial world, the industry has been on a roller-coaster ride lately. Data breaches involving more than 100 million credit and debit cards at big retailers, such as Target and Home Depot, have grabbed headlines. But there have also been unexpectedly exciting and innovative developments. In October 2014, for example, Starbucks said that about 15 percent of purchases in its U.S. stores were paid through its mobile app and that by the end of 2015 the company will launch a Mobile Order program across the United States so customers can preorder — avoiding long queues and wait times. In September 2014, Apple announced that its new iPhone 6 came equipped with an e-wallet called Apple Pay that would store payment information and l