Payment processing

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.

Whether they process cards, bank accounts, cash, or whatever comes next, digital payment systems must be reliable, flexible and ever-advancing, writes Michael Kaplan, chief revenue officer at PayNearMe.

As blockchain and other emerging innovation pour into the B2B market, Bottomline Technologies believes bank collaborations with smooth deployment and user experience can lure anxious businesses away from checks.

Furniture retailers typically split payment for big-ticket items with a deposit and the balance due upon delivery, but the process is usually fraught with paperwork, security and efficiency gaps.

Crooks are using techniques that move quickly, making AI a good bet when searching through many layers of transaction data, according to Jie Wu, a director at GoodData.

The cross-border B2B payments startup is introducing a rewards program to help drive repeat usage and expand its network.

With real-time payments advancing, processors need to shore up security, according to David Worthington, vice president of payments at Rambus.

With retailers seeking to discourage cash use and billers increasingly going digital, PayNearMe stands in the middle seeking to further enable the very people who depend on being able to use cash: the underbanked and unbanked.

Virtual cards are showing potential to streamline business transactions, attracting a business payment collaboration between Barclaycard and SAP.

Unauthorized exposure of any type of customer data, for any period of time, is a serious issue, writes Carl Wright, chief commercial officer of AttackIQ.

Alipay is a force to be reckoned with outside of China, but it has taken a strategic approach to foreign markets that downplays its potential as a threat to local payment systems.