Technology

Over the past 10 months the payment industry has seen several products and services of bygone eras that have been reconstituted, repackaged and positioned to help customers and small businesses to manage their finances and cash flow, says Avenue B Consulting's Maria Arminio.

This is in stark contrast to perceptions that cash can spread pathogens, a concern that has caused many consumers and merchants to downplay its usage.

Moves to protect competition will help fintechs and push innovation, says AppBrilliance's C. Eric Smith.

The central bank aims to roll out FedNow sometime in 2023, which is more optimistic than its previous timetable. The official leading the project noted progress in developing the infrastructure and its compatibility with private-sector solutions.

The innovation recognizes inventory levels and uses machine learning and sales history to identify the ideal price point to incentivize a consumer to select the product with a limited shelf life, says Quicklizard's Pini Mandel.

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.

As merchants navigate a rapidly evolving market, invisible payments are becoming a crucial means of offering customers the seamless, simple, and streamlined experiences they crave, says Credorax's Igal Rotem.

Call centers have long had issues around the security of accepting card payments verbally; companies like Semafone and DataDivider are working to keep those centers PCI-compliant as the pandemic compounds the problem.

Olaf Carlson-Wee, founder and CEO of the cryptocurrency hedge fund Polychain Capital, discusses which digital currencies and blockchain technologies are reshaping payments and which are “nonsense projects.”