The rapid move online boosts false positives, false negatives and actual fraud, says Adara's Nguyen Nguyen.

It was an attention-grabbing decision when Facebook hired PayPal's president, David Marcus, in 2014. At the time, Facebook didn't have much of a dedicated payments business to speak of; when people thought of spending money on Facebook, they typically thought of in-app purchases in Farmville.

Thanks to the growing implementation of open banking, the same type of collaboration can be reached between bigtechs and fintechs.

For ‘big tech’ bundling is the new battle — and a driving factor for Facebook, which is corralling several of its commerce divisions to show its substantial network of users how much they can do without leaving the social network.

As the global economy continues to unlock more opportunities for cross border transactions and payments, the ability for businesses to communicate with global consumers in their language (or currency) of choice is vital, says Fiserv's Brian Frey.

It took years for NFC payments to gather momentum in the U.S., with merchants initially dragging their heels to enable contactless technology at payment terminals and banks waiting until 2018 to begin the slow rollout of NFC-enabled cards.

The shift to electronic payments during the coronavirus has led to a notable increase in in-app debit card payments—particularly via Apple Pay—along with higher levels of direct debit and P2P debit card transfers.

Facing Wall Street analysts for the first time after the murder of George Floyd, CEOs of major payment companies joined other financial services firms in promising to improve fairness and opportunities for Black people and other underrepresented groups.

Facebook Inc. unveiled a new group to pursue payments and commerce opportunities and put David Marcus, co-creator of its Libra cryptocurrency project, in charge of the initiative.

The coronavirus has slammed merchants. For many, providing a better online experience by the holidays is their last chance, says Zycada’s James Brear.