David Heun

International payments will only get more complex as faster payments take hold globally, steering banks and money movers to establish central hubs for handling cross-border transactions.

As the U.S. continues to shape its faster payments options over the next few years, the connections for such systems have to be able to deliver more information and services with every payment.

The Federal Reserve task force and committees planning a faster payments system in the U.S. have had to juggle different viewpoints, philosophies and agendas, but they are laser-focused on a key aspect of the initiative: They don’t want to come back to the drawing board once a system is in place by the targeted year of 2020.

Over time, alternative forms of payment will become more of the norm, according to U.S. consumers' predictions.

Alipay has entered agreements with Nordic trade and tourism institutions to further enable merchants in that region to accept payments from Chinese customers through Alipay's in-app marketing program.

The grocery chain is speeding payments to counter grocery innovations from Amazon and Walmart.

Faster processing can accommodate digital payment options in line with upcoming regulations and advancements in neighboring countries.

An integration with transfer company bux will remove navigation and manual processes for remittances to India.

Consumers and merchants in a digital ecosystem are changing the way people interact with each other and machines, changing payments and requiring an updated approach to security, according to Mastercard.

Menusifu receives a $3 million round to boost a system that integrates with Alipay and WeChat Pay, enabling Chinese travelers to make direct payments with renminbi from Chinese bank accounts and digital wallets.