Digitization has transformed the payments industry profoundly, starting with the electronification of payments and progressing to such developments as mobile and contactless payments, blockchain innovations, and digital wallets. Overall, digitization continues to transform the industry by making payments fast, more secure and more convenient for consumers and businesses alike.
This issue's lead article explores the current state of digital wallets, which have become a leading online payment method in North America, according to recent research. However, gaining market share isn't easy. Remember the demise of the QR code based MCX digital wallet and the unfortunately named ISIS wallet, which was renamed and later folded into Google's wallet?
Digitization has legal implications, too, which one of contributors explains for those operating digital-only businesses. Other topics explored by experts featured herein include why social media is an ideal way to get in front of customers, and how to use it to drive sales; analysis of the Federal Reserve's latest payments study, which contains comprehensive research released every three years; and how coders are using AI as a productivity tool to make the software development process more efficient.
In the news, we've included highlights from several stories: a call from Rohit Chopra, director of the Consumer Financial Protection Bureau, for the Financial Stability Oversight Council to rein in bit tech firms to quash potential threats to economic stability; a report from Paxos in the wake of investment banking and cryptocurrency failures to identify a path forward for fintechs, crypto advocates and the broader financial ecosystem; a complaint filed by the Federal Trade Commission and Florida's attorney general against Chargebacks911 for allegedly "unfairly thwarting consumers" who were trying to use the chargeback process to dispute credit card charges; research indicating consumers are stepping up their credit and debit card usage while also exploring faster payment methods; a one-day event co-hosted by NextTech Communications, CoLab at Bell Works and TechUnited New Jersey featuring female tech-sector leaders and designed to showcase the state's heritage of tech innovation, inclusion and opportunity; and a report sharing highlights from the Electronic Transactions Association's recent Transact 2023 conference.
Also included are product and company profiles, news of upcoming tradeshows, and updates on recent individual and company awards and honors, industry research, partnerships and acquisitions, and appointments. To submit your latest news, please send a press release topress@greensheet.com. We'll also welcome your questions and comments at greensheet@greensheet.com. 
The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.
Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.
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