Mobile payments

Ant Financial's Alipay is a big deal in China, and it wants to be a big deal globally. It's got several strategies already in motion, some of which have very big implications for other markets.

Mobile wallets and digital payments apps are erasing the distinction between credit and debit, but many issuers still cling to old practices that treat those audiences differently. SunTrust is working to change that.

Mobile wallets and digital payments apps are erasing the distinction between credit and debit, but many issuers still cling to old practices that treat those audiences differently. SunTrust is working to change that.

Amazon casts a huge shadow over the retail industry, but it can be as much an inspiration as a threat.

The Reserve Bank of India will continue incentivizing merchants and consumers to move away from cash following last year’s demonetization of 80% of bills in circulation, including extending terms of a cash-back promotion for merchants.

Where existing money and payment systems are wanting, mutually consenting adults are resourceful in finding ways to transact, notwithstanding government restrictions.

As payments guru David Birch notes, multiple currencies spur competition and innovation, and can reduce stagnation, writes Eric Grover, a principal at Intrepid Ventures.

Many retailers want to beat Amazon at its own game, providing fast and streamlined checkouts that attack the tedium of waiting in line or staring at a card terminal screen for further instructions.

Prodigy Finance, a London-based graduate student lender, gets $240 million in new funding round; Bitcoin Cash value soars.

Removing friction across channels and payment types not only leads to a transformative digital banking experience, it also helps ensure those positive outcomes translate to business success for financial institutions, writes Mark Little, senior user experience researcher for digital channels at Fiserv.

The simple act of moving money can have a big impact on any political movement, so banks and payment networks are often caught up in issues of national importance. Here are some recent instances where payments and politics came head-to-head.

China's Alipay already has broad global reach—its mobile wallet is accepted at more than 100,000 retail locations in 70 international markets—but in North America it’s just getting started.

The real lag behind fintech started when banks rested on those online and mobile banking laurels and allowed other players in the mobile space to bypass them in working toward mobile point of sale payment services, writes Jack Jania, senior vice president of strategic payment alliances at Gemalto.

Mastercard and Visa have also opened development centers in India, where digital payments are growing quickly.

The European directive is an opportunity for U.S. institutions to update data protection, writes Seth Ruden, senior fraud consultant for ACI Worldwide.

Both merchants and consumers still see the act of making a payment as a barrier and again look to technology to enhance the experience, writes Chris Koide, senior advisor and vice president of financial services for Bambora North America.

With this year's iPhone announcement getting closer, more rumors are spreading about how Apple plans to overhaul the way its phones handle payments. Some of these have already been confirmed by Apple; others are leaking in code the company has released.

Usernames, passwords, device authentication and even biometrics have vulnerabilities. Behavioral identity is much harder for crooks to crack, writes Robert Capps, a vice president at NuData Security.

For issuers, higher online and mobile conversion rates should translate to increased payment volume transacted on their cards, but it opens up a new avenue for intense jockeying over top of wallet status, writes Michael Jabbara, director of digital development markets for Visa.

Even as mobile payments at the point of sale have been slow or even faltering, as most research indicates, use of mobile for making large money transfers is climbing.