Payment processing

Fraudsters can attack multiple individuals with the same scam, knowing that the details won’t be shared. Sharing the details of a scam takes that advantage away, says The ai Corporation's James Crawshaw.

China’s slow courting of U.S. payment companies made a tiny step forward this week, shortly after a similar gesture from the U.S. government that teases progress in the broader trade dispute.

So far this year, Lloyds and Clydesdale and Yorkshire Banks have had payment failures in the U.K. And in the U.S., a software glitch at parking technology vendor Parkeon halted digital payments at meters in New York and other cities.

Businesses have to ensure they're not losing money on the currency exchange, and volatility in the local market could upset their earnings or pricing structures in those areas, says Rapyd's Joel Yarbrough.

The thinking has been that additional POS complexity is the only way to give customers what they want and streamline business operations. Yet a typical merchant uses less than 20% of the capability of their POS solution—and not often very well, says Revel Systems' Chris Lybeer.

Payment fintech Tribe Payments says it has implemented its new software platform at Telleroo to provide the company direct access to payment rails and other banking services for its accounting and bookkeeper clients.

Most banks already have the means to communicate directly with customers, in the form of a mobile banking app or email. It’s just a matter of putting those channels to good use. Targeted discounts and perks reduce shopping costs, and therefore customers’ stress, says Flybits' Justine Melman.

Akin to the democratization of computing power through personal computers, the growing use of AI will continue to fuel new products and services in payments and have a significant impact on society. But AI will also introduce tremendous challenges due to its potential use by threat actors, says Visa's Paul Fabara.

The economic outlook for the next year has been a moving target, but business payment companies fear that certain organizations are losing patience with the speed of transactions.

In seeking a more secure way for consumers to use payment cards when shopping online, Deutsche Bank, Mastercard and Idemia say they have launched the first motion code card in Spain.