Whether they take the form of a mobile wallet or a touch-free credit card, contactless payments are poised to take off as consumers — wary of using terminals and ATMs or handing cards back and forth — change their habits.

A global health crisis. Economic free fall. A reckoning over racism and inequality. We will not be the same after this — and neither will banking.

While it’s inevitable that fraudsters will continue to hone and change their methods, businesses must continually monitor the factors that affect fraud — from changing consumer behaviors to major economic trends — and the actions they can take to safeguard against them.

Wirecard AG’s former chief executive officer was detained by Munich prosecutors after 1.9 billion euros ($2.1 billion) went missing from the digital-payment company, in a scandal that has rattled Germany’s financial industry.

Micro-investing apps that can enable payments, savings management and investment all in one place will gain favorable consideration from investors and consumers alike, says Naples Technology Ventures' Tom Hogan.

With Americans traveling less due to the pandemic, the card, issued by Synchrony, is tailoring rewards to everyday purchases, such as groceries. It also has a contactless feature that could appeal to shoppers fearful of touching terminals.

Decentralizing staff makes strong internal controls even more important, Josh Cyphers and Derek Halpern of Nvoicepay write.

James Freis took charge of Wirecard AG on Friday and the question he faces on Monday is what, if anything, he will be able to salvage of the payment company.

China has a huge market and entrenched payment firms, but a record of digital adoption that makes it a prime market, says PPRO's Steve Villegas.

The Biblical narrative of the Tower of Babel was meant to explain why people throughout the world speak different languages, but in the modern-day payments version it apparently applies to the complex and problem-ridden transaction chargeback process.