Technology

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.

China’s central bank said its planned digital currency will coexist with technology platforms like Ant Group’s Alipay, Tencent and WeChat Pay, which currently dominate the online payments market.

The country has lots of smartphones, few plastic cards, and it's just starting to get rid of cash.

The abrupt shutdown of retail a year ago led to a rise of digital shopping — and fraud. And the most tech-savvy consumers may be the most vulnerable, according to TransUnion data.

Visibility, compliance and processing can differ widely in different regions, says Payslip's Fidelma McGuirk.