Payment processing

Sweden's Klarna made its mark with a pay-later model for e-commerce shopping that’s spread to other European countries and the U.S., and now it’s piloting the same concept for in-store purchases.

Tablet point of sale solutions provide mobile pay benefits while helping merchants provide new experiences for their customers, create additional touchpoints, and accept all forms of electronic payment, including magstripe, EMV and NFC/contactless writes Ben Wagner, director of solutions at Ingenico Group, North America.

Square Inc. reported earnings that exceeded analysts’ expectations and raised its full-year forecast, bolstered by larger merchants that are increasingly using its platform for payment transactions and buying business software services.

When Karim Ahmad arrived at TSYS last year as the new head of global product and innovation, he found a stolid company that still housed its data on the mainframe and was woefully out of step with the new era of digital payments.

New payments systems will allow everyday financial tasks such as paying bills, issuing invoices, making payroll, or settling insurance claims to be easier, faster, safer, and more efficient, writes Jim Aramanda, president and CEO of The Clearing House Association and Payments Company.

Revolut, the London-based financial technology startup that’s raised more than $86 million in venture capital, said it’s applying for a European banking license to broaden the portfolio of services it offers customers.

In the U.S., Visa Direct has emerged as one of the few go-to tools for fast payments in a market that is overdue for such options. The product's true test begins now, as Visa launches it in Europe, where faster payments options are far more plentiful.

While the Consumer Financial Protection Bureau was careful to note that the principles were not binding, the industry should still adopt the guidelines going forward.

The bank consortium is going directly after the business of its former partner Ripple in the middle of their legal battle over an option for digital currency worth $1 billion.

It’s vital to work with a payment processor that fully discloses its pricing approach on its merchant statements, writes Jeff Zimmerman, COO of Clearent.