Payment processing

When the European Union began developing the Single Euro Payments Area more than a decade ago, it didn't include a vision for real-time payments and the potential for a third European payments scheme.

New, risk-based technologies powered by AI and machine learning (ML) enable financial institutions to analyze transaction, device, geographical and behavioral data to make real-time security decisions, detecting and preventing fraud as it happens, says OneSpan's Michael Crichton.

Royal Bank of Scotland and Mastercard are targeting value-added merchant services with a £60 million investment in London-based Pollinate Networks.

As 2020 dawns, a new decade will soon bring new levels of friction for contactless customers as a result of Strong Customer Authentication (SCA), a key part of the European Union’s drive to reduce card fraud across Europe.

The big acquisitions of 2019 have created an environment for more deals to come, says FICO's Tim VanTassel.

Innovation is showing little sign of slowing, creating both myriad benefits and risks moving ahead, says Visa's Paul Fabara.

In the same manner as customer-interaction tools can integrate into a point-of-sale terminal, NCR Corp. is ready to turn the POS screen into a virtual business office.

Consumers face significant risk if this highly personal information is exposed, says Mitek's Stephen Ritter.

With the cost of processing business transactions remaining stubbornly high, a number of U.K. fintechs are working to facilitate open banking payments, a method which could soon enable consumers and businesses to make faster payments at a lower cost.

The first line of defense is to not pay the ransom. Then a layered approach to security and recovery plan can ward off the crooks, says Nominet's Stuart Reed.