Digital Wallets: A Comprehensive Guide for Beginners on How They Work

by Cheqly team | | Digital Wallets

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

ABA Number: Definitions, How It’s Used & How to Find It?

by Cheqly team | | ABA Number , Bank Routing Number

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

How to Forecast Balance Sheets and Income Statements in Financial Planning?

by Cheqly team | | Financial Forecasting

Financial forecasting is a process used by small businesses to project their future financial performance by evaluating historical data. One of the key financial statements for small business accounting is a balance sheet, sometimes known as the statement of financial position. Businesses need a balance sheet forecast because it shows them what assets and liabilities … Continued

What Is a Contactless Payment? How Does It Work?

by Cheqly team | | Contactless Payments

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 Magstripe cards are quite outdated, as they store static information linked to your … Continued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 Systems: Your Comprehensive Guide

by Cheqly team | | Electronic Payment Systems

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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