Payment processing

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.

Stripe’s technology, which enables millions of merchants to easily accept payments online, also provides a window into the broader money-management pain points of the businesses it serves — and it is through this window that Stripe sees a path for growth.

The Accredited Standards Committee X9 is forming a group to study faster and real-time payments activity in the financial industry and eventually recommend new X9 standards and upgrades that would enhance interoperability and adoption.

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

Investors are flocking to point of sale credit firms, which have emerged as a popular option during a time of economic stress. And market dynamics suggest more upside even as traditional payment competitors enter the fray.

After tests with several banks that established Swift's ability to connect its Global Payments Initiative faster payments rail to domestic networks, the financial and messaging standards organization is activating the service in the U.K.

Lenders should be prepared to act quickly and decisively, leveraging the power of technology, innovative lending approaches, low interest rates and renewed commitment to small business funding, says LendingFront's Jorge Sun.

High profile companies like Facebook, Square and PayPal have brought attention to using cryptocurrency for payments — but speed is more important than buzz in getting stores to view crypto as tender, according to a group of developers who are building connections to merchants.

As the pandemic continues to expose vulnerabilities, executives need to alter and reshape their risk management strategies with purchase to pay in mind for future success, says Proactis' Jan van der Pouw.

Organizations need complete control over which network access privileges are assigned to each user or role, says Pulse Secure's Rene Papp.

The number and type of channels for customer support are exploding – with Facebook Messenger, Apple Business Chat, and WhatsApp Business among the most recent additions. And channels are evolving, says Genpact's Jason Osborne.

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.

HSBC for the first time is offering customers a way to send funds instantly across borders to other HSBC customers via a mobile device.

While digital pay innovation was once seen as a “nice-to-have” benefit, it's quickly becoming integral to business survival, says LendingFront's Jorge Sun.

Bankers must identify money launderers and traffickers, and yet although not precluded, the current legal framework actually limits the sharing of data about potential suspicious activity and customers between institutions, says Giant Oak's Gary Schiffman.

Companies like Affirm and Klarna have been a beacon for investors, leading to at least one multibillion-dollar planned IPO in support of a point-of-purchase lending model that could set the stage for use cases well beyond credit.

More lending regulation and interchange restrictions are on tap, says Intrepid Ventures' Eric Grover.

Software developers and ISOs must go into payment partnerships with a full understanding of what capabilities their merchants are seeking, including flexibility and choice, says NMI's Nick Starai.

Within the payments industry, Wirecard as a brand has become almost like Enron — but an exec at Railsbank says the German processor's fall from grace masks talent and innovation that can thrive elsewhere and help forge new paths to financial services.