Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
Is Your Business PCI Compliant?
Payment Card Industry (PCI) Compliance is a group of practices that govern data security across credit and debit card payments. Businesses must comply with the requirements outlined by the PCI Security Standards Council in order for their merchant account to stay in good standing.
Every business that accepts credit/debit cards must abide by these PCI standards, no matter what processing method they use. BluePay has compiled a simple guide answering some frequently asked questions as well as debunking a couple myths about PCI compliance.