APIs

Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.

A shift to online payments and digital technology across the globe occurred at warp speed during the coronavirus pandemic, but that trend doesn't magically solve payments challenges in various markets, nor does it render the fundamentals of customer service less meaningful.

The ongoing pandemic and economic crisis should accelerate the adoption of payments as a service, APIs and open banking, says AFEX Americas' Christian Spaltenstein.

There’s no PSD2-style law requiring banks in the U.S. to share data with third-party payment apps, but the market is progressing as if there will be one, leaving some smaller banks at a disadvantage.

The company's new agreement with Envestnet Yodlee to share customers' account data over secure pipes is its 17th pact with aggregators and other fintech firms.

Credit and debit cards, merchant apps and loyalty programs are being linked through a platform from U.K-based Fidel to provide real-time rewards, business expense management, digital receipts, and charity donations.

Payments platform APEXX Global is working with PayPal to expand payment methods to e-commerce merchants using APEXX, including the addition of the Venmo P2P digital wallet.

ACH network steward Nacha says Visa has been added to its list of partners for a payment information exchange it is creating to help credentialed service providers share and manage electronic payments information for faster and more secure processing.

Home-service providers using Jobber software to manage their businesses now have access to Stripe Capital to obtain funds.

One of the many fraud risks coronavirus triggered is criminals leveraging stolen personal data to open bogus accounts, along with siphoning off credit card rewards, loyalty points and miles from consumers idled during pandemic-related lockdowns.