Payment processing

Traditional acquirers are under severe pressure from the digital payments revolution, challenged to hold onto clients by stitching together legacy systems, existing hardware, mobile, cloud and apps. Those that can harness innovation and find the right startup partners can not only stave off elimination, but drive the next generation of multi-channel shopping and transaction revenue.

Smaller enterprises don't have the resources of larger firms, but open source technology may be helpful, says Pimcore's Shashin Shah.

Payments messaging standards provider Swift has opened its global Know Your Customer registry to all the corporations it connects to following a successful test.

WEX will begin managing the fuel card portfolio of Valero Energy Corp. next year, covering 5,000 U.S. fuel stations, as an extension of the partners’ existing card acceptance agreement.

French marketplace payment processor Lemon Way has raised €25 million from Toscafund Asset Management to help banks compete with the likes of Adyen, Paysafe, and Stripe in the fast-growing marketplace sector.

Payments application provider Ixaris is partnering with global travel marketplace provider Sabre to expand into new markets across Europe.

The United States could be the point-of-sale lender's largest market within two years, its CEO says. The firm's investors include BlackRock, Sequoia Capital and the rapper Snoop Dogg.

Whether data leaks come from internal mistakes and exposures or from direct hacking, the outcome is the same. Data is exposed and cybercriminals are using it for fraud today, next year or several years from now, says NuData's Rosemary O'Neill.

If the intention is for FedNow to give the market a choice, particularly to smaller, local banks then interoperability between the TCH and FedNow is a must, says FIS' Elena Whisler.

In many ways, the payments industry resembles the health care business — pulled into the future by rapid digitization and conflict over the role of government.