Payment processing

Similar to a sports team landing a major free agent, the Faster IDentity Online Alliance has scored a major victory for its identity modernization cause in revealing Apple has joined the organization.

The connection of an advanced loyalty program can woo consumers, even in a case where the merchant's products may cost more, says Clarus Commerce's Tom Caparaso.

Ken Montgomery, who is heading up the Federal Reserve's faster payments network, says the agency is taking an incremental approach to launching the service.

To address immediate market demand but allow time for the project to be done right, the official leading implementation of FedNow says the central bank envisions an initial release in 2023 or 2024 followed by subsequent updates.

Point of sale credit is a popular option, and Visa has followed its investment in Klarna by financially backing ChargeAfter.

BitPay has integrated bitcoin and cryptocurrency payments into Poynt’s Smart Terminal point-of-sale devices, reaching an addressable market of more than 100,000 retailers.

The advancement of mobile wallets has never quite aligned with U.S. dining habits, where patrons are accustomed to handing off their credit cards to wait staff — something they are less likely to do with their phones.

Relying on a "community-based" fraud approach can reduce friction and abandonment, increase sales and revenue, delight your customers, and help protect your brand and reputation, says Accertify's Jeff Wixted.

While many consumers and large businesses are keen to adopt digital, real-time payments, there are still some groups of users that tend towards longer-established payment methods that are inconsistent with the digital economy, according to Standard Chartered's Tarek Elyafi and Shantanu Vijaykumar Bhosale.

Square is adding to its menu of services just as long-established competitors embed expanding payments technology into their own product mix.