Fintech

The payments industry is facing pressure from outside companies that are toppling many preconceptions about how payments should work. But industry veterans are fighting back, and they shared their strategies at SourceMedia's 2013 ATM, Debit & Prepaid Forum.

TAS Group has upgraded its card management software to allow banks to quickly design new EMV chip-based payment products and develop related programs.

Fourty-four percent of American consumers have chosen not to sign the back of their payments cards, instead writing “see ID” or leaving it blank, according to a study sponsored by Jumio and conducted online by Harris Interactive.

As the market for prepaid cards expands and diversifies, many companies are experimenting to see what works — and in the process, they are learning that a product-based mindset could hold them back.

Banks and payments companies are trying to develop new technology for customers' evolving needs, including person-to-person payments. But many of these new innovations must measure themselves against Square and its success. Daniel Wolfe, Editor-in-Chief of PaymentsSource, reports from SourceMedia's ATM, Debit and Prepaid Forum.

Scandinavian Airlines (SAS) wants to drastically boost membership in its loyalty program, a move that will necessitate going well beyond its typical geographic and demographic boundaries.

Financial institutions rely on debit cards to create consumer loyalty and engagement, and the product's business case hasn't been diminished by rising costs and regulatory uncertainty.

With its purchase of NetSpend closed, the processor Total System Services (TSYS) is beginning to use the prepaid card marketer as a lure for financial institutions and merchants.

Diebold Inc., a maker of ATMs and bank security systems, agreed to pay more than $48 million to settle allegations by the U.S. that it bribed officials in Russia, China and Indonesia.

The migration to EMV cards in the United States remains complicated by the unresolved legal issues surrounding the Durbin Amendment's implementation.