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Advantages and Disadvantages of using Mobile In-App Payments

pf article 5 reasons to use mobile pay 1552569143

Online payments are advertised as convenient, secure, and fast. With a few clicks on your mobile device to the payment terminal, money is sent from your credit card to the receiver’s account. It’s almost like magic!

However, mobile payments are a lot more complicated than they seem. Making a payment with your mobile device is convenient and easy, no doubt, yet they can be quite expensive and subject to technological glitches. For instance, if there’s a problem with the host device, mobile payment will not work. Besides, the digital payment industry continues to engage in “format wars.”

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Fed Chair Jerome H. Powell outlines the Federal Reserve’s response to technological advances in the global payment systems

Fed Chairman Jerome Powell2

the staff of the Ridgewood blog

Washington DC, Technological advances are driving rapid change in the global payments landscape. The Federal Reserve is studying these developments and exploring ways that it might refine its role as a core payment services provider and as the issuing authority for U.S. currency.

Continue reading Fed Chair Jerome H. Powell outlines the Federal Reserve’s response to technological advances in the global payment systems

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Scammers mailing fake arrest warrants to scare victims into payments

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file photo by Boyd Loving 

MAY 15, 2015, 8:04 AM
BY MARY DIDUCH
STAFF WRITER |
THE RECORD

The state Division of Consumer Affairs is warning the public about a scam in which con artists are mailing fake arrest warrants issued by the state Attorney General’s Office to intimidate victims into sending money.

In one “arrest warrant” that was sent to a victim, the letterhead states it was issued by the U.S. District Court and that the victim has been charged with criminal violations like “collateral check fraud” and “theft by deception,” the division said in a statement on Thursday.

The letter says the victim faces “a maximum sentence of 3 years in prison and a fine of up to $24,000” and calls on the victim to pay an “outstanding balance” of $1,876.48. The warrant gives a number with a 609 area code for victims to call to arrange a payment, the division said.

Last month, the division warned that scammers purporting to be representatives of the state Attorney General’s Office were calling victims to demand the payment of nonexistent debts.

https://www.northjersey.com/news/nj-state-news/scammers-mailing-fake-arrest-warrants-to-scare-victims-into-payments-1.1335585