Technology

As merchants are challenged to adapt their business just to survive, and consumers push for greater control over where and how they spend, the payments industry is in a position to align the various needs, says Splitit's Brad Paterson.

The agency sought industry feedback on a host of potential changes to ensure that rules are “sufficiently flexible and clear in light of the technological advances that have transformed the financial industry over the past two decades."

Grab Holdings Inc., Southeast Asia’s ride-hailing giant, is expanding delivery services from convenience stores and supermarkets across 50 cities in the region.

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

The coronavirus pandemic has changed the way many industries conduct business — and that's especially true of the legal cannabis industry, which was already struggling in the U.S. to find the best way to handle noncash payments.

Merchants will need to adopt practices to curtail the surge in chargeback activity and protect their businesses, even after the worst of the coronavirus outbreak is over, says Chargeback 911's Monica Eaton-Cardone.

Walt Disney Co. has at least temporarily cut several reservation and incentive features tied to its closed loop payment system, revealing the complexities of mixing health guidance with tourism.

Landesbank Berlin, a major issuer of co-branded cards in Germany, has launched a contactless card with German Automobile Club ADAC as its first project with European payments services provider SIA.

Innovating is tough even in ordinary times, but during the coronavirus pandemic many payments startups had to dig into deeper reserves of creativity and resilience to meet expectations.

The challenges may seem daunting, financial institutions and fintechs must focus on identifying meaningful opportunities based on the financial priorities of consumers and businesses to help them weather these difficult times.