Technology

Visa is readying its platform for major disruptions by adding artificial intelligence to its neural network so legitimate card transactions will be processed normally in case of a system outage.

If the mega payments deals of 2019 left the acquiring landscape somewhat scorched, the COVID-19 pandemic planted new seeds to allow ISOs to grow by quickly converting merchants to electronic payments.

Florida and West Virginia recently joined four other states in setting up regulatory sandboxes that allow startups to test products with consumers without obtaining a license.

Digital remittance provider WorldRemit has agreed to acquire Sendwave, a mobile app-based remittance company focused on servicing the African money transfer corridors.

The OCC’s efforts to bring the technology into the financial mainstream could help people in underserved communities execute payments more securely.

"It's on-demand capital for us," Optus Bank's CEO says of the payment company's deposit. The funds are part of PayPal's broader effort to confront race and income inequality.

Remitly has added 11 new mobile wallets to its network, almost doubling its reach to 300 million consumers, to meet demands for cash alternatives amid the COVID-19 pandemic.

"It's on-demand capital for us," Optus Bank's CEO says of the payment company's deposit. The funds are part of PayPal's broader effort to confront race and income inequality.

If suppliers don’t get paid in a way that works well in their processes and systems, it causes many nightmares for their accounts receivable team. Those nightmares can spread throughout the organization, causing stress and frustration, says Nvoicepay's Josh Cyphers.

Various efforts to limit cash were in motion well before the global health crisis, but merchant and consumer digital money habits being built during the pandemic will carry on for many years, thus leaving cash sidelined in many purchasing scenarios.