Payment processing

Under GDPR, nothing can happen with the European consumer's data unless they explicitly opt in. American consumers tend to ignore the fine print on company statements regarding the potential uses of their data, leading to an environment where companies expect them to opt in by default.

The IATA said it's investigating how to apply faster payments to passengers, whether directly from the airline or indirectly via travel agents. Globally, airlines absorb more than $8 billion in costs for merchant fees and fraud.

The technology company's major projects over the past couple of years have included a diversification to serve merchants' cross-channel shopping and payment needs, adding advanced ATM technology in Europe and upgrading hardware to compete with rivals such as Square.

For the U.S., being late to the real-time payments game has some tactical advantages, namely the ability to learn from other countries' successes and failures.

China's declaration on Wednesday that its payments market is now open to foreign companies gives Chinese payments processors an opportunity to grow globally — but it's made similar moves before, with little effect.

The breach at Expedia's Orbitz not only jeopardized nearly 880,000 payment cards — it cast a spotlight on the weaknesses all companies expose themselves to when they partner with another brand.

Visa has appointed Marcello Baricordi as general manager for Middle East and North Africa, replacing Ihab Ayoub, who has left the company for personal reasons.

Payment data can also reveal insights for companies to foster better relationships with customers and vendors or suppliers, writes Matt Clark, president and COO of Corcentric.

The Clearing House expected to take some time to introduce its new network to financial institutions and play up its benefits.

Alipay has partnered with FreedomPay and expanded an existing deal with First Data to deepen U.S. merchant acceptance at key destinations for Chinese tourists.