Payment processing

The U.K.’s major banks are urging regulators to allow for greater flexibility in processing high-risk transactions, in a bid to tackle ever-rising levels of financial crime.

It creates an auditable, distributed ledger of transactions that cannot be altered or removed, enabling transactions that are valid, authentic, trustworthy and immutable, according to David Uhryniak, a blockchain services leader at Crowe LLP, and Brian T. Zygmunt, a partner with Crowe LLP.

German payments company heidelpay has made a series of recent deals to diversify its merchant appeal, including this week's agreement to buy digital point of sale terminal seller Alpha-Cash Payment GmbH.

By taking precautions to protect your mPOS devices, your business can safely sell at more locations for a comparatively low cost while keeping your customer and company data safe, writes Rafael Lourenco, an executive vice president at ClearSale.

Business management software provider Sage will partner with U.K. fintech Modulr to deliver real-time salary and supplier payments to small and medium-size businesses in the country.

The chance of losing money on an integration with a service such as PayPal is extremely low, and you could achieve a double-digit reduction in cart abandonment, writes Chad Reid, a director at JotForm.

E-commerce merchants with just a few employees that sell through Amazon or Walmart often fall through the cracks for traditional bank loans, but for Payoneer they're the sweet spot.

Payment crooks are behaving more like organized crime syndicates, and that's putting merchants, processors and banks on the defensive, argues Yossi Geller, a vice president at Paygilant.

Fuel payment options in the trucking industry have long relied on private-label cards from giants like Comdata and WEX, but a new challenger called Gas Pos is hoping to break in by capitalizing on new payments technology and the looming gas-station EMV migration.

Quadriga Fintech Solutions Corp. is in danger of running out of cash to cover the cost of its restructuring unless the Vancouver-based crypto exchange can retrieve money from banks and payments processors, according to the firm overseeing the process.

By using the dark web as a cybersecurity tool, instead of an ungovernable threat, financial institutions can intercede and interdict compromised card data post-breach, pre-fraud, writes Ted Kirk, vice president of strategic partnerships for Advanced Fraud Solutions.

Lloyds is paying small merchants to offer cash back, but consumer groups are already casting the move as inadequate to address the decline of branches and ATMs in the U.K.

The Electronic Transactions Association has appointed one of its executives, Amy Zirkle, to serve as interim CEO while the organization begins its search to replace Jason Oxman.

Immigration restrictions are a threat to London’s status as a fintech hub, enough for Revolut CEO Nikolay Storonsky to demand the U.K.’s government take special steps to prevent the technology talent from going elsewhere.

Modern, global merchants need comprehensive, integrated frameworks that reduce costs, manage risk and exposure, provide direct connectivity and redundancy to optimize reliability and keep control over the customer experience closer to the merchant, according to Eric Rosenthal, managing director of the Americas at Rapyd.

The all-in-one card market has been a dead end for many years, with products like Coin, Swyp, Stratos and Plastc doomed to be mere footnotes in the history of fintech. Curve is determined to avoid the same fate, and it says PSD2 is its ticket to success.

While most early GDPR fines have been relatively low, a larger more recent fine at Google is a sign of larger levies to come, according to Karen Neuman and Federica De Santis from the privacy and cyber security practice at Goodwin.

Bill.com is eliminating wire-transfer fees for businesses making electronic payments in local currencies in key global markets, as competition in the small- to midsize B2B payments sector heats up.

Through a partnership with Adyen, Dutch airline KLM is one of the first large merchants to adopt an online payments approach that bypasses payment cards, powered by PSD2's open banking framework.

Payments Canada, which provides clearing and settlements, has hired payments infrastructure firm SIA as the application provider for Lynx, its new high-value payments system.