Legal Issues (Bryan)

Many companies are now going to paperless payroll across the board.  Depending on the state you're in, an employer could be out of compliance by not providing a pay statement to their employees. 

The following states require that employers provide a paper copy of your check stub:  Arizona, Colorado, Connecticut, Hawaii, Iowa, Maine, Minnesota, New Mexico, North Carolina, Texas and Vermont. 

There are 8 states that do not have a pay statement requirement.  These states are:  Arkansas, Florida, Louisiana, Mississippi, Nebraska, South Dakota, Tennessee and Virginia.  If employers in these states choose to provide a pay statement to their employees, they may do so electronically.  Virginia only requires employers to provide a pay statement if the employee requests it.

There are still other states that require access to a printed statement.  This means that an online statement is acceptable as long as printing the statement is an option.  States that have this requirement include:  Alabama, Alaska, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maryland, Michigan, Missouri, Montana, Nevada ,New Hampshire, New Jersey, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Utah, Washington, and  West Virginia

Square (Chelsea)

Square is the newest technology on the market that allows transactions to be made with one ore two steps. First go to the Square website and sign up and receive your free Square card reader. Secondly register the Square reader on the website and download the App on your IOS, Android smartphones or tablets. Then you are ready to use your Square reader. The Square reader makes it easy to complete transaction with debit and credit card. But remember that for every transaction they(Square) receives 2.75%. More and more small businesses are using this type of new technology instead installing computer systems  plus the credit/debit card machines and the programs that come with it. The Square makes it easy and fast  to make transactions right on the spot. Also I learned from someone I know that uses this device you(the customer) can receive a receipt through your email after completing the transaction.

 

 

Google Wallet (NFC) (Nick)

Google Wallet is a service that  has been around for a little over two years and is making digital payments easier and is very secure.  This is making it very easy for you to no longer carry your wallet around all you need is something that you always carry around with you, your cell phone.  How does it work you might ask?  One of two ways, online Google wallet stores all of your credit card or bank account information so you do not have to enter it in every time.  As for in stores you use your cell phone to pay for items by using NFC(Near Field Communication) which will be later discussed.  It is very secure and it is almost like Pay Pass by Exxon Mobile.  Not all cell phones have it but in the near future all cell phones will be equipped with NFC.  As for NFC(Near Field Communication) it is a radio transmission for communication between two devices in this case your cell phone and the terminal in which you are paying.  This is just one digital payment that we believe over the future will make cash useless.  What do you think?  If you could would you like to only be responsible for you cell phone and not your wallet? Let us know. http://www.google.com/wallet/ for more information or if you would like to set up an account.

Brief Intro of Leading Products and Services (Julius)

Digital payments is an industry that is growing each and everyday.  Products and services in this industry are taking over what we thought of as normal.  Before today, I never thought I would be able to pay my rent online instead of turning a check into a land lord... In today's society we are able to do any sort of transaction digitally never having to see the cash that is being transferred.  PayPal is one of the leading websites in collecting money for purchases.  Luke II Pay Station is multi-space parking pay system that collects money without every having to hand a person money.  The Inuit GoPayment is a product that allows individuals to collect payments with the use of an iPhone.  Credit card technology has come out with innovations like the Master Card Master Pass so you can pay for products with your phone, tablet, or computer.  Technologies like these and others are putting digital payments into a primary front runner for innovations that have surpassed previous standards for payment options around the world.

Brief History of Digital Payments (Julius)

How do you see the future of digital payments for the future? With the vast increase in technological evolution tomorrows innovations are today's hot topics.  Digital payments is the movement from payment using currency and checks to make purchases in person to being able to do any type of transaction over the internet or other digital technologies.  Digital payments allow people to pay bills, buy clothes, Christmas shop, etc. from there home or wherever without having to ever step foot into a building.  The first ATM was put into work in the late 1960's, this article has more details on it: Article about the first ATM.  Digital payments have been a viable technology that has been around for almost 40 years but with the use of the internet and social media boom, the new generations of children are technology driven.