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Posts tagged with “financial”

“Digital Wallets” change how payments are made and consumer information is protected

Friday, 24 February, 2012

EVOCANADA_evo_canada_merchant_service_accountAs major credit card companies Visa and MasterCard continue to develop and deploy mobile payment applications for smartphones equipped with NFC technology, payment processing between merchants and consumers will continue to evolve.

Many traditional brick and mortar retailers may not necessarily see the need to update their current POS terminals to accept mobile payments, as this emerging technology seems more suited to e-commerce. That said, the idea behind the “digital wallet” as a payment method may dramatically shift how sensitive client information is handled during a transaction.

Consumers are increasingly concerned with identity theft and likewise merchants worry about being sued for information leaks in their POS systems. Mobile payment applications change this very dynamic by giving the ability to consumers to keep all important payment information contained in their “digital wallet,” linking only to their respective banking institutions and cloud data management service, the two safest places to store this information.

Digital wallets will effectively turn the mobile payment enabled smartphone into a Personal Point of Sale (PPoS) device, which includes all the current features and capabilities of a standard retail POS terminal but with added levels of information security and less transfer of info between payment terminals.

Initially set-up for online shopping cart transactions, these new mobile payment applications will no longer require consumers to give out sensitive payment information during the checkout process, rather a transaction number will be pasted into the PPoS. This new PPoS system gives consumers the added ability to keep control over sensitive payment information and merchants no longer need to handle sensitive information and keep it secure.

Online merchants will also benefit from the added element of the mobile payment transaction being considered a “card-present” sale, reducing discount rates, limiting charge-back incidents and decreasing opportunities for fraudulent payment activity.

Jumio simplifies payment and secures heavyweight financing

Tuesday, 21 February, 2012

Start-up company Jumio, specializing in mobile and online payments, has secured $25.5 million USD in a recent funding round. Investment firms have yet to be disclosed but this is a huge statement for the upstart company who in March 2011, secured $6.5 million USD in Series-A financing led by Facebook co-founder Eduardo Savarin.

As current CEO and founder Daniel Mattes’ second successful start-up, Jumio aims to simplify online and mobile payments. Daniel is no stranger to the world of venture capital finance as he was behind the VoIP success Jajah, selling in 2009 for $207 million USD to Telefonica in an all cash deal.

Jumio’s lead product is Netswipe, with many options from basic processing to a mobile application and even a wordpress blog payment plug-in. For more information on Jumio, please visit www.jumio.com.

By Evo Canada Merchant Services 

Visa’s V.me mobile wallet to launch in 2012

Tuesday, 14 February, 2012

A hot topic heading into 2012 is the emerging technology coined the “mobile wallet” which Visa intends to capitalize on. Expected to launch sometime in late 2012, V.me is the official brand name for their proprietary mobile wallet.

Mobile wallets refer to applications on smart devices that allow users to store debit, credit and prepaid card information to be used for POS or online payment processing. Visa’s hedging on a similar strategy they currently employ with the various banks using the standard credit card service, the V.me mobile wallet will also be made available to companies such as PayPal, ISIS and Google Checkout along with an open beta development platform.

The advantages of a mobile wallet are that they allow customers to shop and purchase without transferring sensitive payment information over to merchants via a standard debit or credit card terminal. This added level of security, combined with the convenience and flexibility of standard payment processing and the ability to shop easily using a mobile smart device, all add up to why mobile wallets are an emerging trend and gaining momentum.

Visa is hoping this trend will continue to develop and take their existing credit and debit card business in new directions. For more info on this platform by Visa, visit www.v.me.

By Evo Canada Merchant Services

Got creative? Get funding!

Thursday, 29 December, 2011

Merchant service account evo canada payment processing For most creative people, professional or amateur, it’s not about the money, but all about the process. That said, we are all part of a bigger wheel and unfortunately have no choice but to contribute financially to society…in other words: get a job, get paid and pay bills.

An often-daunting task for most creative people is securing financing for their idea or project. Kickstarter.com is here to help and hosts a revolutionary approach to funding projects. Not to be mistaken with a venture capital firm, business bank or investment fund, Kickstarter is an online community built around the encouragement and cultivation of new ideas and exciting projects. The online platform allows for everyday people to contribute financially or “pledge” to projects of their choosing and see them come to life. Projects vary in size and scope with a focus on the constructive spheres of music, film, art, technology, design, food and publishing.

Not being about lending money or investing, creators keep 100% ownership and in turn offer special promotions, gifts, rewards or experiences to “pledgers” depending on amount pledged and project type. Ranging from 3D printers to recording artists, product developers and theatre groups, a donor can pledge almost any amount to any project with a specific reward given back as a result.

Taking an “all or nothing” approach, each project must reach its funding goal in order for money to exchange hands. In other words, “sponsors” will not get charged until the project is successfully funded. By doing this, Kickstarter provides protection to its participants and creators.

New ideas are introduced through a project highlight page where creators post videos, documents, images and anything pertinent to explain the idea and encourage potential donors to pledge money. There are limits though and not every idea or project is accepted on the Kickstarter platform.

Gone are the days of hefty interest rates on a business loan or giving up your heart and soul to an investor who wants more equity, Kickstarter allows the idea and creators to take centre stage, changes the game for raising funds and helps keep creativity at the heart of a growing online community.

EVO Canada Cares – where innovation and community come together

Wednesday, 16 February, 2011

We all dream of philanthropic pursuits, but often lack of time and resources get in the way of giving back to the community. Current challenging economic times have also put pressure on financial resources available to fund local projects, community outreach programs and special causes. At EVO Canada, we understand these limitations and like you, always look for ways to do more, which is why we launched the EVO Cares program.

Since it’s inception we have seamlessly helped our customers give back to their communities in a low cost, hassle free, streamlined way. Through a simple referral program, EVO Canada will donate a minimum of $500 to your charity.
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Over the last year we have been fortunate enough to donate to organizations of all shapes and sizes, from the Canadian Red Cross to the MS Society of Canada and even less known community based organizations such as the L’Association Pour un Maroc Meilleur and Troupe Crème Brulee musical comedy. No charity or cause is too big or small as EVO Canada strives to proactively give back to our communities each year.

Contact EVO Canada Cares’ Josh Sorensen at 1-877-355-2082, extension 2964, and find out how your business can take a few small steps to make a difference in your community today!