PayThink Conference

The Merchant Customer Exchange may not have succeeded, but there is still value to the concept that drove the retailer-driven wallet, according to Brian Crist, chief payments counsel at Uber.

Many companies no longer rely on static passwords alone, and use two-factor authentication to protect consumer accounts. The problem is they're using the same second factor: text messages sent to mobile devices.

Acorns is about investments, but its debit card is about something else: instilling pride in the act of making a payment

With Google facing scrutiny of its data collecting practices, one exec sets the record straight: Yes we know you took an Uber, no we don't know where you went.

Wells Fargo exec Michelle Ziolkowski was fed up with writing checks, but her piano teacher didn't want to go digital. So Ziolkowski started tracking her check-cashing behavior.

As the major banks grapple with the slow and steady implementation of The Clearing House’s Real Time Payments (RTP) system, one organization, Ingo Money, is forging ahead in delivering faster payments for its clients and their customers using the card networks’ push payments rail.

Zelle doesn't require a bank or credit union to participate in its network to allow it to receive funds; so even Zelle holdouts will see some activity on their accounts. This allows credit unions to compare members' demand to usage, and to determine whether signing up with Zelle is worth the trade-offs.

After Equifax disclosed a devastating data breach, much of the attention focused on whether the company did everything it could in response. But the scary truth may be that this is the sort of incident that goes beyond a single company's ability to fix.

SourceMedia's PayThink conference is an annual gathering of key decision-makers in the financial services and payments industries. This year's event, which took place in Phoenix this September, brought several key ideas to light.

The slow and difficult EMV migration has slowed major adoption of contactless cards, but there are signs that momentum may be turning around.

Data breaches and payment hacks require not only tech measures, but crisis management. Had Equifax gotten out in front of the story, particularly during the slow news period of August, it would have earned kudos and perhaps mitigated some of the public scrutiny.

With the explosion of data, and rapid advances in technology, we’re reaching a point where any company can take down the barriers to frictionless payments, writes Jason Tan, CEO of Sift Science.

Historically, the industry has placed much greater emphasis on preventing fraud at the point of transaction without doing enough to stop fraudulent account openings, writes Melissa Townsley, co-founder and CEO of GIACT systems.

The third-party wallets don't market interoperability or share much data, frustrating the process of adding new riders.

Data breaches and payment hacks require not only tech measures, but crisis management. Had Equifax gotten out in front of the story, particularly during the slow news period of August, it would have earned kudos and perhaps mitigated some of the public scrutiny, writes David E. Johnson, CEO of Strategic Vision.

Alipay has worked with First Data, Verifone, Ingenico and others to connect with merchants in North America, but more as a service for Chinese travelers than a direct competitor to existing payment providers.

Same-day and real-time payment products are designed for basic transfers that don't meet the more complex needs of Lyft's ride-sharing service, contends Ashwin Raj, Lyft's vice president of payments.

Seeing the successful “private label” debit programs at Target and Cumberland Farms has inspired more merchants to launch their own initiatives, writes Adam Frisch, CEO of Buy It Mobility Networks.

Providers leave out a majority of lower-volume companies that would happily accept an electronic payment or card, writes Sue Ellen Hodnot, vice president of sales for the west region at Nvoicepay.

With more vendors issuing EMV cards, cybercriminals are turning to cart-not-present fraud as a way to defraud consumers. A mix of weapons is necessary to counter it, writes Robert Capps, authentication strategist and vice president at NuData Security.