Tapping to pay is about to be even easier for U.S. consumers

first_imgMillions of Chase customers in the U.S. will soon be able to speed through checkout with a tap of a contactless Visa card. While contactless payment technology has been widely used in places like Canada, the U.K. and Australia, it’s new for most American consumers. What do they need to know to take advantage of this convenient and secure way to pay?1. It’s fast and easy A single, simple tap with a contactless-enabled Visa card, mobile phone, smart watch or other wearable device is all it takes to make a payment. All these forms of payment use short-range wireless technology, known as Near Field Communication, to initiate fast, secure transactions between the card or device and the checkout terminal.2. It’s widely accepted in the U.S. Customers can tap their card or device to pay where they see the Contactless Symbol at a checkout terminal. More than 50 percent of all in-person Visa transactions happen at a contactless-enabled merchant in the U.S. The numbers rise at high-transaction volume merchants with low average purchase amounts where the speed and convenience of tapping to pay can save valuable time. According to AT Kearney, 79 percent of quick service restaurants, 77 percent of drug stores and pharmacies and 61 percent of food and grocery stores in the U.S. employ the technology. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

VNU scheme to transfer assets to Aegon in buyout

first_imgThe scheme added that, by joining Aegon, it would also avoid a situation in which it can no longer find capable board members.At Aegon, all participants and pensioners will receive an inflation compensation based on the European consumer index.As the pension fund’s coverage ratio stood at 127.4% at the end of September, the scheme had sufficient assets to also grant part of the indexation in arrears.The pension fund’s active participants continue to accrue new pensions rights with another provider as of 1 January.The scheme nor the employer could be contacted for further details. The €630m Dutch pension fund VNU said it will transfer all its pension assets and accrued pension rights to insurer Aegon in a buyout, adding that it will liquidate subsequently.It said this way it wanted to secure accrued pension rights as well as inflation compensation for its approximately 5,200 workers, deferred participants and pensioners.VNU, the pension fund of publishing company Nielsen, had already placed €440m of its liabilities with Aegon, but still paid inflation compensation from its remaining assets.On its website, it explained that there is a possibility that it will not be able to keep on granting indexation, and that a buyout will eliminate this risk. Since 2009, the scheme could not pay full indexation during a couple of years.last_img read more