Merchant

Heritage financial institutions that don’t support emerging embedded payments and banking risk further erosion of younger cohorts and losing material franchise value to fintechs, challenger or neo-banks equipped to originate and service accounts at the edge of partner networks, say payment consultants Richard Crone and Heidi Liebenguth.

Fraudsters tend to be oporptunistic. They’re constantly looking for new ways to abuse businesses and cardholders, making it difficult for security professionals to keep up, says Chargeback 911 and Global Risk Technologies' Monica Eaton-Cardone.

The Amazon effect in financial services will be much bigger than the one experienced by the retail industry—it will have a deeper impact due to the financial services industry being bigger and more vulnerable, and because consumers are now more comfortable with change, says TigerGraph's Todd Blaschka.

Young consumers are demanding for new ways to pay, expecting more features and transactions to happen at a much faster pace, which means that companies need to keep up with the pace to adapt and offer the payment experience that this generation looks for, says EBANX's Henrik Nilsmo.

Mobile financial network provider Rapyd is embedding its open development tools with Brazilian processors to support payments in any local method.

Payment firms and fintechs can use open source and the cloud for a potent innovation combo, says Asset Control's Mark Hermeling.

Credit card issuers caught in the trap of chasing new customers with increasingly costly rewards-point programs are trying something new: letting more users redeem rewards directly with merchants instead of acting as the intermediary.

In the battle for premium cardholders, American Express Co.’s latest weapon is the scent of leather and ear reflexology.

The challenge has been aligning the data-sharing ecosystem in a way that simplifies access and enhances consumer control while ensuring a high level of security, says Finicity's Steve Smith.

In spite of MGM’s quickly notifying hotel guests impacted by the breach in accordance with applicable state laws, it’s a clear concern that many of the contact details were still valid, particularly the phone numbers, says Shared Assessments' Tom Garrabba.

The maturity of "super apps" in China shows how to reach a digital generation, says EBANX's Henrik Nilsmo.

Duplicates can take many different forms and can be difficult to find in a manual review process, says AppZen's Josephine McCann.

Offering the preferred payment method is essential to converting customers in LATAM. But the diversity of each country’s market makes this easier said than done, says PPRO's Steve Villegas.

More work is needed to bring processing up to speed for digital payments, according to Neocova's Sultan Meghji and Kelsey Weaver.

Diverse local economies and a demand for mobile are boosting digital commerce, says PPRO's Steve Villegas.

The technology can quickly sift through and analyze contracts, nondisclosure agreements and other legal documents, says InCloudCounsel's Troy Pospisil.

When we take advantage of new products and services, we frequently offer up our data as a cost to entry. In doing so, we are putting our trust in the organizations behind these innovations, says Interac's Debbie Gamble.

The Payment Card Industry data security standard applies to organizations of all sizes, but has often been seen as an intro to data security for small-business owners who know more about cooking burgers than securing data.

Because of its large U.S. network of about 14,000 fuel stations in the U.S., Royal Dutch Shell often sets the tone for industry movements in technology, including the EMV conversion, which faces an Oct. 1 liability shift.

Cash may be sharing its place on the throne with other payment options, but is certainly not going away soon, says Cashmaster International's Gordon McKie.