Technology

The move toward a cashless economy in China reveals a boom in actionable data, says Azoya USA's Franklin Chu.

The federal banking and credit union agencies want input about how financial institutions use artificial intelligence for credit underwriting and other purposes, and about whether additional regulatory guidance is needed.

Large U.S. banks are directing their venture capital dollars to fintechs in capital markets, wealth management and "future-proofing."

The minor league team is opening a new stadium and year-round market with checkout-free concessions, part of a broader trend at sports facilities to dump paper, plastic and lines.

Like their counterparts in the U.K., U.S. regulators should be working closely with the private sector to establish principles and guardrails to direct and focus tech advancements in ways that will protect consumers and financial stability.

Visa Inc. said its payments network will use a stablecoin backed by the U.S. dollar to settle transactions, as blockchain technology gains more acceptance in the established financial system.

With this sudden and swift shift that is generating thousands more digital payment transactions per day than even just a few months ago, the opportunities for fraud are rising exponentially, says the FIDO Alliance's Andrew Shikiar.

Payments technology has advanced quickly in the past decade because newcomers in the industry have operated fully, or at least partially, in the cloud.

Bradley Riss is chief commercial officer at Checkout.com, a firm that acts as a payment gateway, acquirer and processor through a single channel, covering cards, passthrough wallets, stored value wallets and alternative payment options such as point of sale credit. It charges a fee based on processing and card payment costs rather than the percentage+ model that most payment API companies charge. The model is designed to make the service customized to different merchants and serve as a base to offer other merchant products.

Fiserv has agreed to acquire processor Pineapple Payments in a move that will expand its current distributor partner relationship to help its Clover platform while also picking up the payment processing for Pineapple's current customer base.