Payment processing

For invisible payments to gain mass consumer adoption, there are several cultural and logistical barriers that retailers and the payment industry must consider first, says PPRO's Matt Jackson.

As the coronavirus pandemic has driven more people to work from home and shop online, the demands on digital, faster payment systems have been heightened — as have the opportunities for fraudsters to exploit them.

As the pandemic has stretched on further into 2020, with more lockdowns and economic disruption predicted heading into the fall and winter, continuing to offer fee waivers has not always proved financially viable.

A cloud-based system makes it easier to communicate with staff on matters outside of payroll, says OnPay's Katelyn Sullivan.

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.

This “audience of one” approach gives customers offers that are personalized to them, enhancing the relationship with your brand and building trust, says Mobiquity's Sree Singaraju.

Mastercard is making the much-admired Apple Card-like experience—nearly instant access to a payment card issued on the spot through a mobile device—available through mainstream and digital card processors.

By taking action today, you can begin to have peace of mind that your previously existing fraud vectors have been sealed off, says PaymentWorks' Thayer Stewart.

As the Federal Reserve's FedNow instant payments and settlement system enters into testing and use-case development phases, an emphasis on speed to market, ubiquity and compatibility with other systems remains in the forefront.

Speed stands at the forefront of any real-time payments deployment, but the real staying power in new payments innovation rides on the development philosophy of the platform itself.