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Digital wallets are the product of the latest technology, and they are rapidly growing because of their versatility and ease of payment options. A report by FIS Global shows that by 2024, digital wallets will control 33.4% of point of sale (POS) spending, while cash will only make up 12.7%. What is a Digital Wallet … Continued
Have you noticed the nine-digit code at the bottom of the checks? You may have misunderstood it as an account number, but this is an ABA routing number, also known as a bank routing number. This signifies the financial institution that pays the check. What is an ABA number? An ABA number, a nine-digit code … Continued
Financial forecasting helps small businesses check their financial health and predict what’s ahead. By looking at past data from income statements and balance sheets, businesses can see how they might perform in the future and understand their assets, debts, and profits. This allows them to make intelligent decisions like gaining or handling capital. Knowing how … Continued
Contactless payment is one of the buzzwords that’s important to understand. Contactless payment technology has the potential to significantly speed up and simplify transactions since it operates through your mobile device. Unlike EMV payments, contactless payments offer higher security than card payments. Magstripe cards are quite outdated, as they store static information linked to your … Continued
Electronic payment for purchases has become the standard. Nearly nine out of ten Americans use a digital payment method, with 62% using more than two forms of digital payment, according to a 2022 McKinsey report. Tasks that were previously done on paper, such as sending and receiving money, are now primarily completed digitally. Small business … Continued
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Never miss any payment or leave your company without an opportunity to keep rolling.