Technology

Payment fintech Tribe Payments says it has implemented its new software platform at Telleroo to provide the company direct access to payment rails and other banking services for its accounting and bookkeeper clients.

Conflict continues to mount between the card brands and merchants. Merchants say they deserve more input and actual decision-making power and that payments should operate through completely open standards in which all involved parties have had a say.

Comerica will continue to handle the U.S. Treasury’s Direct Express prepaid card program, beating out other banks for the third time since the program launched in 2008, despite a high-profile glitch in 2018 that drew lawmakers’ scrutiny.

Most banks already have the means to communicate directly with customers, in the form of a mobile banking app or email. It’s just a matter of putting those channels to good use. Targeted discounts and perks reduce shopping costs, and therefore customers’ stress, says Flybits' Justine Melman.

Goldman Sachs plans to offer details into its workings to boost its stock value; while challenger banks are prospering, traditional banks still rule the roost.

Akin to the democratization of computing power through personal computers, the growing use of AI will continue to fuel new products and services in payments and have a significant impact on society. But AI will also introduce tremendous challenges due to its potential use by threat actors, says Visa's Paul Fabara.

The economic outlook for the next year has been a moving target, but business payment companies fear that certain organizations are losing patience with the speed of transactions.

Amazon is starting the new year with a major payment technology deployment at more than 11,500 gas stations, providing the e-commerce giant with an added leg to its rapidly expanding payments network ranging from checkout-free stores to Whole Foods to its own planned grocery chain.

More groups said they submitted bids for digital banking licenses in Singapore as companies, ranging from a property giant to Chinese fintech firms, joined forces to go for the sought-after permits.

The term “Amazon effect” is a term increasingly used to represent a digital-first business model where interactions with partners and customers centers on web-based application programming interfaces.