Payment systems are critically important for overall market stability. On a typical business day, U.S. payment and settlement systems settle transactions valued at over $13 trillion.
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Structured settlements are a common way for people who have been injured to receive an insurance payout. The periodic payments provide ongoing income and reduce the risk of blowing a lump sum through poor financial choices.
The way that customers pay businesses is constantly evolving. Instead of paying with paper, like cash and checks, businesses are expected to accept a variety of payment methods ranging from credit cards to digital payments.
Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?
The monetary policy of the United States has a major impact on global liquidity and capital flows and therefore, the liquidity of the U.S. dollar should be kept at a reasonable and stable level.
Regardless of how it's done, transaction costs will continue to plummet as computers get more powerful. Low transaction costs are a wonderful thing if you're in the transaction business. They're wonderful for consumers too, making it cheaper and easier to buy things and creating new things to buy.
Everyone can get a little sloppy with cash and it's smart to notice. But what's squeezing you is the big stuff you ladle onto your credit cards.
What a sound money system does is to stabilize all the elements in it, and reduces the uncertainty that people confront. And the one thing all human beings do when they are confronted with uncertainty is pull back, withdraw, disengage, and that means economic activity, which is really dealing with people, just goes straight down.
The transaction cost approach maintains that some projects are easy to finance by debt and ought to be financed by debt. These are projects for which physical-asset specificity is low to moderate.
We've had years and years and years of compromises, and that's led to $14 trillion in debt.
While digital wallets are paving the way for the future of payments, you still need to assess whether or not they'll work for your business. If your target audience are less tech-savvy or you're primarily a cash-only business, it may not be worth investing too much into accepting digital payments.
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