Payment processing

As the U.S. continues to shape its faster payments options over the next few years, the connections for such systems have to be able to deliver more information and services with every payment.

Payments’ gradual shift from physical to digital channels is translating into fewer feet on the ground for Bank of America Merchant Services, which recently cut 10% of its workforce, citing changes in its marketing strategy.

International sourcing is stressing businesses that are already too reliant on paper-based payment methods, argues Hyperwallet's Tomas Likar.

The Federal Reserve task force and committees planning a faster payments system in the U.S. have had to juggle different viewpoints, philosophies and agendas, but they are laser-focused on a key aspect of the initiative: They don’t want to come back to the drawing board once a system is in place by the targeted year of 2020.

TSYS has announced the resignation of Pam Joseph, less than 17 months after she joined the company as president and chief operating officer.

SourceMedia's PayThink conference is an annual gathering of key decision-makers in the financial services and payments industries. This year's event, which took place in Phoenix this September, brought several key ideas to light.

Faster processing can accommodate digital payment options in line with upcoming regulations and advancements in neighboring countries.

The Cincinnati bank says its investment unit is taking an equity stake in NRT Sightline to provide a wide range of banking and payments services to casino operators.

Same-day and real-time payment products are designed for basic transfers that don't meet the more complex needs of Lyft's ride-sharing service, contends Ashwin Raj, Lyft's vice president of payments.

TSYS has expanded its relationships with ISOs or entered into joint ventures with companies such as super ISO Central Payment. TSYS has been gradually increasing its stakeholder share in Central Payment as part of the collaboration.