Old Payments Problems, New Solutions

While the digital age has supplied any number of new solutions to problems, many of those problems still persist. Thieves target retailers, moving objects from point A to point B is complex and expensive, the fees in every transaction are too high and the little retailer finds the big retailer doesn’t fight fair. The solutions – from AI and machine learning to blockchain – are brand-new and technologically optimized. But will they be any more effective against the problems that have passed the test of time?

Data:

1 billion: Number of irregular data activities spotted by Mastercard’s NuData tool during holiday 2018

$500 million: Amount Mastercard’s NuData toll saved businesses in fraud losses during holiday 2018

500K: Number of orders Indian wearable firm GOQii claims to have lost to predatory pricing on Flipkart

$3K-$10K: Average annual cost range of insuring a commercial vehicle

1%: Flat fee BitPay charges on all transactions