Payment processing

While a majority of business payments are still made by checks, faster payments and increased cash flows will pressure a move to digital options, contends UMB's Brian Hutchin.

It’s just one part of one regulation in one region that addresses one business practice, but for Stripe, Strong Customer Authentication is a ticket to unlock markets across multiple business types.

Vocalink, a Mastercard unit, is partnering with Saudi Payments, a subsidiary of the Saudi Arabian Monetary Authority to launch real-time payments in the kingdom.

Apple Card has advantages over most banks at the start, but there are things banks can do to fight back, according to Mehmet Sezgin, CEO and founder of myGini.

The rule requires disclosure of exact fees but institutions can estimate pricing under an exception that will expire in 2020. The CFPB is seeking comment to prepare for that deadline.

Intuit Inc.'s QuickBooks is adding next-day ACH payments to its platform as a faster payments option for small businesses using its business management tools.

Financial institutions lack the puzzle pieces for giving their users a good customer experience within their mobile apps, leaving many dissatisfied and looking for a new solution from payment apps and fintechs, contends James Brown, CEO of Smart Communications.

PayPal has had an on-again, off-again relationship with eBay since the company split off as a unit of the e-commerce marketplace more than four years ago.

Web-based key users can have secure access to an online management application from anywhere in the world and can change key access permissions, profiles, schedules and validity, even revoking their use virtually at the click of a button, writes Pip Courcoux, sales and product manager for CLIQ Systems at Abloy UK.

With Wirecard's value tumbling since a Financial Times report two months ago alleging an accounting scandal in its Asian operations — and a followup Wednesday reporting that half of its revenue comes from "three opaque partner companies" — the German payments processor received a lift from a €900 million ($1 billion U.S.) investment from Japan's SoftBank.

Until significant steps are taken toward creating a seamless and intuitive experience, blockchain will fall short of its goals, as it is unable to communicate its value.

By allowing instant issuance to be executed from the most secure infrastructure available, PCI-CP introduces greater flexibility and protection than older standards, according to Ranjeet Khanna, vice president of financial issuance at Entrust Datacard.

So far, 2019 has been characterized by a series of eye-catching strategic deals within the global payments ecosystem, with new players positioning themselves to rival Visa and Mastercard. The card networks giants have responded by pursuing a strategy to become less reliant on transactional fees.

There are many motivations for implementing faster payments, such as paying gig economy workers after each job, sending funds overseas, or improving insurance payouts. In all of these examples, the demand comes from the payments recipient.

As banks continue to invest heavily in developing mobile and web-based services for personal and business accounts, investments, money transfers, micro loans and peer-to-peer payments to make the customer experience as seamless as possible, they cannot afford to let compliance efforts lag, writes Sam Abadir, vice president of industry solutions for Lockpath.

The reasons for banks to not embrace faster payments schemes are quickly dwindling. But many are still watching from the sidelines.

Readers debate the Federal Reserve's potential entry into real-time payments, consider the Consumer Financial Protection Bureau's guidance for assessing fines, discuss the efficacy of financial education programs and more.

Allied Irish Banks and First Data's joint venture have agreed to a $112 million deal to purchase the consumer payment network and merchant acquirer.

T-Mobile, which announced Thursday that its four-month testing phase for the T-Mobile Money app is complete and that the banking/payments service is available nationwide, said the next step is to establish itself as a mainstream financial services company.

Flywire is partnering with True North to allow Canadian educational institutions to better manage payments from international students by integrating them with application, enrollment and accounts receivable processes.