Economic news

The U.S. debit networks have always been strong supporters of open standards created through open, consensus building, says the Secure Remote Payment Council's Paul Tomasofsky.

They're among a handful of companies willing to hold clients' digital assets for safekeeping. Many of their peers balk at the reputational and financial risks.

Ride-sharing apps always seem to be racing to be something else — or at least something more — especially given the coronavirus pandemic's impact on travel. With a banking license in Singapore, Grab can add fuel to the strategy.

The e-commerce expansion borne out of the pandemic heightens the balancing act between security and user experience, a challenge Forter and Nuvei hope to address through a mix of data analysis and an expansive network of merchants.

From brokering insurance contracts to financial settlements, smart contracts could bring immense innovation to CBDCs that otherwise would act as little more than an augmented medium of exchange, says Cypherium's Sky Guo.

Omnichannel models and self-ordering kiosks will be key to linking online ease with the in-store experience, and fundamental to making stores safer and more efficient during the pandemic and beyond, says TouchSuite's Sam Zietz.

Doing business online certainly isn’t new, but the pandemic prompted even businesses that hadn’t fully committed to the e-commerce space to shift some or all of their traditional operations online, says JotForm's Aytekin Tank.

Faster payments haven't always lived up to the hype and promise because of development and adoption stagnation in the U.S., but the idea of speedier transactions is becoming more popular.

Citigroup appointed Elissar Farah Antonios as the first woman to run its Middle East and North Africa operations, among the U.S. bank’s fastest-growing businesses in emerging markets.

It won’t be enough for retailers to have a physical store presence or a solid e-commerce strategy without also incorporating a comprehensive communication plan, says Criteo's Tim Rogers.

By allowing access to public chains, CBDCs could render much greater, and even revolutionary, functionality, says Cypherium's Sky Guo.

Retailers and merchant acquirers need to adjust to new media in the new year, says Zycada's James Brear.

Though there is some optimism about an economic recovery, two-thirds of respondents said they expect revenue to be flat of down next year and just 13% plan to be in hiring mode.

The dramatic shift in consumer buying behavior sparked by the pandemic looks set to change the future of commerce for good, writes Joris Kroese, founder of Hatch.

Viva Wallet is offering London’s 20,000 black taxis a Mastercard-branded business debit card whose cashback is meant to be offset against card acceptance fees at the acquirer’s in-taxi terminals.

By gathering pools of customer data ahead of the shopping surge, retailers can capitalize on the increase in shoppers by identifying the right customers and making every engagement count, says Tealium's Sav Khetan.

Many countries are positioning themselves as a destination for fintechs seeking EU-wide licenses as the U.K. leaves the EU. Following Brexit, U.K. electronic money and payments institution licenses across the EU won’t be passportable across the EU.

It remains unclear how Mark McWatters's departure will impact the credit union regulator, and there is growing evidence that the country could face a "double-dip recession."

The events of 2020 have only helped to intensify a range of potentially disruptive developments in the payment industry. As the central bank's digital currencies advance, how will the government and the private sector work together to bring projects to an effective conclusion?

Tennessee Sen. Lamar Alexander joined Mitt Romney of Utah and Susan Collins of Maine in disapproving of Judy Shelton's nomination to the Federal Reserve Board, adding drama to a confirmation vote that had been targeted for this week.