Payment processing

As coronavirus puts parameters on how we interact with each other, instant issuance is more important than ever, says Matica's Paul Schwerdtfeger.

There is no doubt that many restaurants and merchants are struggling right now. But it makes no sense to hurt consumers and financial institutions by expanding failed policies like the Durbin Amendment, argues Jeff Tassey, chairman of the board for the Electronic Payments Coalition.

The $2 trillion coronavirus rescue package and other government moves are designed to provide a lifeline for small businesses, but they also create complications as businesses must quickly accumulate payment records and other information to apply for the loans.

WEX has retooled its corporate payments solution team, hiring former Mastercard exec Mark Aquilina as senior vice president of product and strategy of a new unit.

The coronavirus e-commerce push is likely to be permanent as consumers get used to digital payments, but that also gives rise to new fraud threats.

With the EMV liability shift date for automated fuel dispensers (AFD) looming, subject to any last-minute changes, we are seeing major changes at fuel sites across the USA. With close to 150,000 active fuel sites in the U.S. alone, there are a huge number of individual pumps that will need to be upgraded to accept chip and PIN cards.

Upgrade's hybrid loan-card product can now be used without swiping as consumers and retail workers seek to minimize spread of novel coronavirus.

Fintechs, startups and bank-led projects were already working to excise generations of inefficiencies out of supply chains. The coronavirus has heightened the need for smooth payments.

The coronavirus has caused millions of people to self isolate, leading Starling Bank to offer a connected debit card for people shopping on behalf of a family member or friend.

For decades, automated check reconciliation stood out as the lone sanctuary for AR professionals. However, the advent of payment automation indicates that electronic payment reconciliation is more than capable of taking up the baton, says Nvoicepay's Kim Lockett.