BluePay Blog

Welcome back to the next installment in our ongoing series on National Cybersecurity Awareness Month (recognized every October). In previous articles, we covered: Cybersecurity habits to incorporate in your life right away. Cybersecurity careers worth exploring today and tomorrow. In this post, we’ll discuss one of the biggest threats affecting mobile banking — Trojan malware that cybercriminals use to steal financial data.

Topics: Financial Institutions, Mobile Payments, PCI Compliance and Fraud Prevention, Awareness, Consumer Education

ATMs have been a go-to convenience for consumers and business owners for decades. Found all over the world on the main streets of cities, in shopping centers, gas stations, and restaurants, ATMs have been the life-saver for getting quick cash, as well as avoiding standing in line at the bank just to do a quick deposit.  As such a relied-on device, it’s hard to even imagine that recent predictions estimate that the ATM is set for extinction in less than 25 years.

Topics: Due.com Partner Posts, Financial Institutions, Payment Technology, Payment Trends

We’ve written extensively about the sharing economy and how consumers increasingly prefer renting items instead of buying them outright.                   Uber is a prime example.  A close cousin of the sharing economy is the “experience economy” — a growing trend that also de-emphasizes “ownership.”  Instead, the focus is on experiences.  Just think about all the holiday gifts you’ve received over the years — from ugly sweaters to socks to hot new gadgets. Even the best “physical” presents in the world lose their luster over time.

Topics: Financial Institutions, Small Business Tips

Logging into websites is a time-honored ritual with which we’re all familiar:  You enter your username (or email)  You type in your password (or PIN)  And you’re in.  However, it’s fairly easy for criminals to hack this process. This is especially true if you use weak passwords such as “1234” or “password.”  For this reason, many websites now require that you use a combination of the following when generating secure passwords:

Topics: Financial Institutions, E-Commerce and Online Payments, Payment Technology, PCI Compliance and Fraud Prevention

Banks safeguard our collective wealth, and they provide a range of services and products that all of us need. However, these roles are not exclusive to banks. For example, credit unions provide many of the same services.

Topics: Financial Institutions

According to Hollywood, bad things happen when society hands over decision-making power to machines. From the Terminator to the Matrix to I, Robot, the big screen is filled with dystopian tales about artificial intelligence (AI) wiping out the human race.  In truth, we’re already surrounded by AI. To wit:  Satellites can position themselves without human intervention. Traffic lights rely on sophisticated, real-time algorithms to keep us safe. Self-driving cars can navigate crowded roads with fewer accidents. 

Topics: Financial Institutions, Payment Technology, Payment Trends

If you’re like most people, you’ve probably never heard of a blockchain. Yet, this relatively new technology could radically change how we interact and do business. First, a little context.  Trust is an essential component of modern life. When conducting business with unknown parties, for example, you need a way to ensure that money paid results in goods received. 

Topics: Financial Institutions, Payment Technology, Payment Trends

If you launch a business of any kind, you’ll need to establish an ongoing relationship with some type of bank. But with nearly 5,000 financial institutions to choose from, where do you start?  You could set up an account with the closest bank in your neighborhood. In fact, many budding entrepreneurs do exactly that. 

Topics: Financial Institutions

For decades, traditional banks have helped finance a range of disruptive technologies and businesses, from Skype to Amazon to solar panels.  Yet, despite making few improvements to their own business models, these banks have largely avoided disruption themselves. Paul Volcker, former Federal Reserve Chairman, even wrote an op-ed in 2009 titled, “The only thing useful [that] banks have invented in 20 years is the ATM.” 

Topics: Financial Institutions, Payment Technology, ISV/VAR

As the name implies, an electronic funds transfer (EFT) describes the process by which parties send and receive money (i.e., “funds”) through electronic channels. Although the term is often used interchangeably with Automated Clearing House (ACH) payments, EFTs encompass a much broader range of payment options, including wire transfers, e-checks and even PayPal. 

Topics: ACH/eCheck Payments, Financial Institutions, Consideration