Jason Solis’ Post

Binance loses yet another payment processor, Checkout.com Payment processor Checkout.com has terminated its relationship with troubled crypto exchange Binance, citing “reports of regulators actions and orders in relevant jurisdictions,” according to Forbes. This comes shortly after Binance ended its Binance Connect service, a product that made it easier for businesses to buy and sell cryptocurrency. The service was operated in partnership with Checkout.com. Binance was a very important client for the payment processor. Forbes cited someone familiar who said that in one month in 2021, Binance made up $2 billion worth of Checkout.com’s transactions. At one point, Visa warned about a flurry of fraudulent transactions related to Binance, apparently the result of organized crime taking advantage of Binance’s decision to avoid additional security measures on the transactions. Checkout.com told Forbes that the size of the alleged transactions wasn’t accurate. This separation comes as Binance faces regulatory pressure in the US, including from the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The crypto exchange has also faced pressure around the world, including raids in Australia and France. After leaving custodian Prime Trust, Binance US had to discontinue fiat services when its alternative, Wyre, shut down. Binance customers and clients have found their options for fiat severely limited since February, when Binance suspended US dollar-based withdrawals and deposits. #crypto #cryptonews

👨💻 Digital wallets have emerged as a pivotal component of modern financial ecosystems, offering users convenience, security, and versatility in managing their financial transactions. The article adeptly navigates through the various facets of the digital wallet landscape, shedding light on the diverse functionalities and features that define this burgeoning sector. #iBANLY #Payments #Wallet #digitalwallets #FinTech #Finance #digitalpayments #digitalmoney

Understanding the Power of Tokenization in Card Payments : In the ever-evolving world of digital transactions, security remains a top priority. Tokenization in card payments is a game-changer, revolutionizing how we safeguard sensitive financial information. 🛡️ What is tokenization? Tokenization replaces sensitive data like credit card numbers with a unique, randomized token. This token, while functionally similar to the original data, holds no exploitable value, significantly reducing the risk of theft or fraud. Why does it matter? ✔️ Enhanced Security: Tokens are useless to cybercriminals even if intercepted. ✔️ Seamless Transactions: Enables swift, secure payments across various platforms. ✔️ Customer Trust: Builds confidence by ensuring data protection and privacy. 🚀 Industry Impact: From retail to fintech, tokenization is reshaping the payments landscape. Its integration into payment gateways, mobile wallets, and subscription services bolsters security while maintaining user convenience. Let's discuss how tokenization is transforming the payment ecosystem. 💬💼 #Tokenization #PaymentSecurity #FintechInnovation #DigitalPayments

Are you #token to me? Had Travis Bickler been into #fintech, we could imagine a commercial featuring Robert De Niro, illustrating the importance of tokenization in #digitalpayments .🪙 Now let’s go back from the alternate reality to our day-to-day operations and our blog post on tokens: https://lnkd.in/dYJ4EqbT You’ll learn: 1) How payment tokens work.🧾 2) Who generates them.🏦 3) What cybersec pros tokens bring.🛡️ 4) Why customers need them.👨🏻💻 5) Whether Robert De Niro is hidden anywhere in the article.🎭 For anything related to tokenization, encryption, and digital payments in general, here’s ThePayPortal website. #tokenization #creditcardprocessing #encryption

Dive into the Future of Payments! 💳💻 Our latest blog takes you on a journey through the world of digital wallets, exploring their safety, efficiency, and the exciting trends shaping the future of finance. 🚀💰 Read Here: https://lnkd.in/dTuJCQgf #DigitalWallets #FutureOfPayments #FinancialInnovation

This primer fills in the gaps on how digital wallets work, what companies compete to provide such payment tools and what to expect from them in the future. https://lnkd.in/exbnnXzV #payments #digitalwallet #fintech

Tired of the inefficiencies that come with accepting credit cards? The ever-increasing fees, chargeback nightmares, and slow settlement on top of it all. While this is a recurring theme, it's unfortunate to see Mastercard and Visa increasing their fees with businesses and consumers already struggling. “Increases in the fees merchants pay to card issuers are typically passed on to consumers.” With any problem though, there are usually better options available.   Enter #Bitcoin and Lightning Network payments. While a Bitcoin ETF is exciting, there are additional use cases that this technology provides. Accepting Bitcoin and Lightning payments over credit cards offers distinct advantages for businesses. Here’s how 🔽: 💸 Lower Fees: Say goodbye to hefty credit card transaction charges. Bitcoin fees are wallet-friendly, and Lightning payments are near ZERO! 🌎 Global Reach: Open your doors to the world! Bitcoin knows no borders, making international transactions a breeze. 🛡️ Reduced Fraud: Bitcoin's irreversible nature means no more worrying about chargebacks. ⏰ Faster Settlement: No more waiting around for funds. Confirmation for Bitcoin transactions is between 10-60 minutes, and Lightning invoices settle instantly. 🙌 Financial Control: Take charge of your finances without relying on traditional institutions. ❌ Cut Out Intermediaries: Transact directly, boosting privacy and security for you and your customers. 📢 Marketing Boost: Embracing Bitcoin can provide positive buzz for your company and can help to attract millions of new customers that all HODL Bitcoin. 📈 Investment Potential: Holding some Bitcoin on the company’s balance sheet can help preserve the purchasing power of the company’s finances.   If you want these advantages, check out companies like BTCPay Server and Zaprite. If you already use services like Shopify and Square, these payment solutions can be implemented quickly.   It's time to supercharge your business by embracing the future. #LearnBitcoin and unlock new possibilities 🌐🚀. https://lnkd.in/edXm9rhK

Dive into the Future of Payments! 💳💻 Our latest blog takes you on a journey through the world of digital wallets, exploring their safety, efficiency, and the exciting trends shaping the future of finance. 🚀💰 Read Here: https://lnkd.in/dTuJCQgf #DigitalWallets #FutureOfPayments #FinancialInnovation

Dive into the world of digital wallets! Transforming transactions with security and convenience. Embrace the #DigitalWalletRevolution and stay secure in the cashless age. https://lnkd.in/g7RpQgb4 #Fintech #MobilePayments

🌟 Newsroom Highlight Ever wondered how digital wallets work and what key features they offer? Digital wallets are transforming the way we handle money, making transactions faster, safer, and more efficient by providing multiple benefits to the users📱 Check out our new glossary article here: https://lnkd.in/dvaQjpxg #OKTO #digitalwallet #onlinepayments #onlinewallet #fintech