Mobile payments

Merchants should also monitor fraud by channel, to see how much each channel contributes to total fraud losses, Bernardo Lustosa of ClearSales says.

The modern mobile wallet no longer uses a card as a crutch. Instead, it sees it as an additional product that can add revenue from interchange, lending and loyalty.

Mobile and contactless payments have generated more consumer attention as ways to safely move money during the coronavirus pandemic, but there's also a growing wave of support for The Clearing House's Real Time Payments network for banks.

Ignoring those that came before you, understanding the importance of scope and capacity, and rushing to be the next big thing can help payment startups in good and bad economies, says Leaseweb's Global's Stephane Ngali.

Mastercard and Judopay have teamed up to enable mobile payments through The Pharmacy Centre.

The sessions are interactive, and viewers can purchase products at any time during the session by clicking on a small product window and making a purchase with an app such as Alipay, says Azoya International's Franklin Chu.

As consumers dump cash and traditional point of sale hardware for contactless payments, PayPal has added support for QR codes in 28 countries.

Mobile's already responsible for more than half of online fraud, and that will get worse, says ClearSales's Bernardo Lustosa.

The coronavirus pandemic has had an immediate impact on a wide swath of consumer spending habits and payment choices — some of which may remain in place for some time after the crisis subsides — as certain categories such as travel have fallen to the wayside and others such as grocery stores have risen as more consumers eat meals at home.

Criminals developing EventBot malware built it to take advantage of businesses and humans turning to mobile banking and payments in the current coronavirus crisis — but also to update itself on the fly to become more insidious in the future.

Mastercard is adding to its global network of innovation labs by partnering with Enel X, a mobility and smart-city startup, to open a center in the Israeli fintech hub of Be'er Sheva.

Contactless, mobile and a retreat from cash are just the start. The coronavirus will upend the entire payments process, said Icon Solutions' Simon Wilson.

The agency will allow institutions providing 500 or fewer transfers a year to estimate costs in consumer disclosures rather than quote exact figures.

The failure to bring decades-old processes into the digital era not only continues to cost companies dearly but has become increasingly disruptive in the current COVID-19 environment.

Trends in China such as mobile payments, omnichannel shopping and social commerce show us what a post-coronavirus world could look like for brands and retailers in the U.S., says Azoya International's Franklin Chu.

Consumers like having different payment options, and not just a few, says RS2 North America's Daniela Mielke.

While we all want to go back to the way things were before this pandemic struck, in the payments space, it is more about pivoting to the next normal.

What works for regular commuters may not work for occasional riders, says OSPT's Jean-Philippe Wolyniec.

Payments are slow, fees continue to increase, and merchants are increasingly feeling the pressure from holdbacks being imposed on them by acquirers. In the pandemic crisis, that's unacceptable, argues Nuapay's Nick Raper.

At the start of 2020, the overriding security concern when it came to payments was fraud. After all, before the days of the global coronavirus pandemic, no one had really viewed hygiene as being a particular selling point.