APIs

The European regulation will make data sharing more complex, creating an opportunity for stakeholders to collaborate to build new tools.

Giving merchants direct access to third-party software isn’t new—First Data’s Clover unit introduced the concept three years ago—but Vantiv is giving its approach a custom-development spin with an app marketplace.

PayPal is strengthening its services for e-commerce marketplaces and crowdfunding money-raising projects through PayPal for Marketplaces, while also adding Pay with Google for its Braintree merchants accepting Android Pay.

The Consumer Financial Protection Bureau made it clear that consumers own their financial data and can share it with apps of their choice. Now it’s up to the industry to resolve thorny issues on liability and accountability.

The biggest innovators in payments aren't necessarily banks, and that's a problem for JPMorgan Chase, which has such a large client base that every startup sees it as a target.

The move creates more room for developers to work on new payment types and build additional use cases.

The nonbinding guidance, which followed a nearly yearlong inquiry about industry practices, said consumers should have greater ability to obtain information about their financial data, among other principles.

Bank of America Merrill Lynch has injected artificial intelligence and predictive analytic capabilities into its core CashPro tool for corporate users, using a set of application programming interfaces (APIs) to produce CashPro Assistant.

Bank services provider FIS has connected its Trax corporate payments platform to Citigroup via a series of application programming interfaces (APIs), enabling treasury payments to flow in real time and improving cash management for corporate customers.

Bottomline Technologies is introducing a set of APIs for its corporate customers in accordance with the U.K.’s new Open Banking policy and Europe’s Payment Services Directive (PSD2).