Payment processing

The central bank aims to roll out FedNow sometime in 2023, which is more optimistic than its previous timetable. The official leading the project noted progress in developing the infrastructure and its compatibility with private-sector solutions.

The innovation recognizes inventory levels and uses machine learning and sales history to identify the ideal price point to incentivize a consumer to select the product with a limited shelf life, says Quicklizard's Pini Mandel.

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.

Sending money should be simple, but fintechs can’t do it alone. By leveraging cutting-edge technology like blockchain, we can solve real problems in payments that impact everyone, everywhere, says RippleNet's Vidya Mani.

Continuity and speed are just two benefits of payment automation, says VPay's Elisa Logan.

The pandemic has accelerated the card brand's shift toward providing ancillary services including analytics and dispute resolution.

Compliance is expensive and complicated, though there are some emerging solutions, says Adflex CEO Pat Bermingham.

Opening up universal payments and authentication methods that feel familiar, for both online and face-to-face transactions, could unlock a world of possibilities when it comes to redefining how businesses engage with consumers, says MYPINPAD's Justin Pike.

The card brand is betting on homebound consumers' eagerness to get out, but restrictions will need to ease. And corporate spending will take much longer to come back.