Merchant

Digital payment brands like Venmo are achieving scale quickly by recognizing that no one wakes up thinking they need to make a transaction. They really focus more on what they have to pay for, according to CO-OP Financial Services' Shazia Manus.

Omni Air International recently completed a test of technology from Infinite Peripherals that aims to modernize the sales of in-flight meals, drinks and retail products. The system is an airline edition of Infinite's omni-channel InfineaRetail software.

Neither the acquirer processing the payment, nor relevant regulatory bodies ever know that these payments are actually for illicit goods, making transaction laundering particularly dangerous and far-reaching, writes Ron Teicher, CEO of EverCompliant.

With the holiday shopping season, there is an inevitable dark side — an increase in transactions means an increase in fraud. This is to some extent the cost of doing business; fraud will always be a percentage of overall transaction volume.

Along with crowdfunding and peer-to-peer lending, cryptocurrency can improve access to payments, credit and other financial services for SMEs, writes Eugene Green, CEO and founder of WishFinance.

With the wide-scale adoption of mobile phones, and the use of NFC and QR codes for payments, the card brands most likely see a threat to their business model and, in a defensive move against potential disruptors, are wisely embracing the spirit of mobile, writes Jeremy Gumbley, CTO at Creditcall.

On his last day at the agency, Keith Noreika called for scaling back the Bank Holding Company Act, arguing that it burdens banks with duplicative regulation and restricts their economic potential.

The pilot could help the agency improve its image after past criticism of slow responses to catastrophes.

Kiwibank says it is providing its small-business customers in New Zealand with a mobile payments app and card reader.

The trade group wants Equifax to reimburse community banks for costs tied to the massive data breach at the credit bureau this year. The ICBA also wants a court to order Equifax to improve its security measures.