Payment Can Be A Pain In The

Here I am, sitting in the French part of the Silicon Valley (Le Vallee, as we call it), and it’s time to moan.

Why is it that something we have to do daily, wherever we go and whoever we deal with can be clustered with unnecessary obstacles and frustrating limitations? All through the day, money changes hands. Clumsy cash transactions, cumbersome bank transfers. I know, it’s all necessary, it’s all good, but I feel there has to be a way to simplify it all.

Stating the obvious now: Jumio is working on such a solution. We’ll let you know the details in due time. But for now, let’s look at facts and misconceptions about how we pay or can’t pay in our daily lives.

As a private person I can’t accept credit cards. This might not be true in some countries, but can be quite an issue in others. No universal solution there yet.

Money transfer requires a bank. Again: True in some cases, false in others. Small payments are usually cash transactions that don’t require the electronic or personal assistance of a bank. But then again, that means that you always have to carry around a bit of cash for that quick hot dog or a can of Coke on the street corner.

Credit card fraud is a major concern. And these days, credit card fraud without the actual credit card is the way to go if you’re a hip card fraudster. Phishing is a phenomenon not just attributed to following a popular band, but a real concern for online credit card users. Credit card not present at transaction fraud is on the rise. That’s a fact.

We are not here to cause paranoia. We are here to create awareness for payment issues. And we’re here to make it better. We’ll tell you more next time and over the coming months.