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CrossCheck’s Multiple Check Is Better Than Instant Financing: Here’s Why

Posted by Joe Gargiulo on Mon, Aug 20, 2018 @ 10:45 AM

The story you are about to read is true; the names have been changed to protect the innocent. On one side are the numerous instant financing options for consumers to use for virtual and in-person purchases. On the other is CrossCheck’s Multiple Check service that accomplishes everything the “other guys” do and then some. As the saying goes, “seeing is believing,” so stick around for closing arguments.

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Tags: Payments

PAYMENTS 2018: the 2nd Installment for Payments Professionals

Posted by Joe Gargiulo on Tue, Apr 17, 2018 @ 09:31 AM

The PAYMENTS 2018 conference takes place April 29 to May 2 at the San Diego Convention Center, featuring educational workshops, meetings, keynote sessions and a variety of networking events for payments professionals. Produced by The Electronic Payments Association (NACHA), this year’s event is focused on faster payments and will be attended by payments professionals from all macro environments including mobile, retail and technology as well as payment processors such as CrossCheck. Read More

Tags: Payments

PAYMENTS 2018: Installment One for Payments Professionals

Posted by Joe Gargiulo on Mon, Mar 19, 2018 @ 08:00 AM

Produced by The Electronic Payments Association (NACHA), the PAYMENTS 2018 conference for payments professionals is all about speed. The event takes place April 29 to May 2 at the San Diego Convention Center, and will feature a strong educational presence that is underlined by workshops, meetings, keynote sessions and a variety of networking events.

NACHA says attendees are a specialized group of professionals: “PAYMENTS 2018 unites thousands of payments system stakeholders from business end-user and financial and technology services organizations to debate and explore pressing issues and opportunities.”

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Tags: Payments

What You Should Know About Mobile Wallets

Posted by Brandes Elitch on Tue, Jan 09, 2018 @ 10:00 AM

Americans are addicted to their smartphones. Just look around when you go down the street. Almost everyone is looking at their device as they are walking. Nobody is paying attention to the sidewalk, cross streets or what is going on around them. Data from Apple shows that the average user pulls out their phone 80 times a day! The characteristics of the device — portability, always on, responsiveness, unlimited access to information and a multitude of apps  — make it a compelling and trusted partner. The smartphone has profoundly impacted our societal habits in just a few years, and it will not reverse itself.

A psychology professor at Washington University in St. Louis, Tim Bono, has conducted an experiment for the last few years: see if you can sit quietly for six minutes with no phone, television or radio, occupying yourself only with the thoughts in your head. The results: only 67 percent of the surveyed group was able to remain seated and stay awake for six minutes. More than 30 percent of the group had to check their phones at least once. The conclusion was that humans are “wired for distraction” and find it too difficult to just sit and think.

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Tags: Payments

Paper Checks: The Rumors of My Demise Are Greatly Exaggerated

Posted by Joe Gargiulo on Fri, Sep 08, 2017 @ 09:04 AM

One third of Americans believe “traditional paper checks will die within five years,” state the results from the July 2017 Viewpost survey about the future of payments. Nevertheless, there is compelling evidence to the contrary as aptly framed by Mark Twain in a letter from 1897: “The report of my death was an exaggeration.”

Sources refuting consumer guestimations include the preliminary edition of the 2016 Federal Reserve Payments Study, the most prestigious report among the four profiled here.

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Tags: Payments, Checks

Increase Profits with Returned Check Protection

Posted by Joe Gargiulo on Fri, Jun 23, 2017 @ 09:45 AM

Operating small-and-medium enterprises in the United States is expensive — no great revelation there.

The plethora of general business expenses may be common knowledge, but industry and vertical-specific costs may surprise more than a few business people. Nevertheless, most merchants would agree that “the cost of doing business” is a necessary evil in a competitive marketplace. Overhead may be broken down into anticipated and hidden costs.

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Tags: Payments

CyberSecurity in the Payments Industry

Posted by Brandes Elitch on Wed, Feb 08, 2017 @ 01:00 PM

When it comes to headlines in the payments industry space, data breaches have dominated the news in the last few years. My favorite example is a 2015 event: two “forums” — where gamers illegally trade free (bootlegged) copies of Microsoft’s Xbox360 games and Sony’s PlayStation games — were attacked by fraudsters. The thieves who stole from their fellow thieves took 2 ½ million e-mail addresses, passwords and IP addresses. It seems that there is no honor among thieves!

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Tags: Payments

Inside the 2016 Federal Reserve Payments Study

Posted by Joe Gargiulo on Thu, Jan 19, 2017 @ 04:00 PM

The long awaited, much anticipated preliminary report of the 2016 Federal Reserve Payments Study was released December 22, 2016. This 12-page edition is the sixth in a series of triennial studies conducted by the Federal Reserve since 2001, and will be followed by the full version during the second quarter of 2017.

The work aggregates statistics in US non-cash payments and reveals anticipated trends, but some of the data opens the door for garnering greater insight into specific facets of the payments industry.

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Tags: Payments

The Life of a Check in Payment Processing

Posted by Joe Gargiulo on Thu, Oct 13, 2016 @ 04:00 PM

Beginning as inconspicuous sheets of blank paper, checks undergo dramatic transformations during their time on Earth. After printing, binding and perforation, checks are designated for assignment inside checkbooks where some never see the light of day, only to be shredded at some point in time when deemed expendable or when checking accounts are closed. Others live high off the hog, helping to purchase anything from a quart of milk to a new Mercedes Benz. This is their story.

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Tags: Payments

Demographics, Distribution of Wealth and Payment Solutions

Posted by Brandes Elitch on Fri, Aug 26, 2016 @ 07:00 AM

CrossCheck is a 33-year-old payment processing company with tens of thousands of merchants using our services every day. This year, we will clear billions of dollars in check payments, yet we are not a well-known brand outside of our core business clients.

When people ask me about our business model, I tell them that it is all about demographics. This is not what they are expecting to hear, but it usually piques their interest enough to keep listening. By demographics, I mean the distribution of wealth in American society. This is an important topic, but one not typically understood by most Americans, so let me try to explain.

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Tags: Payments

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