Payment processing

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.

In what’s been named the “fourth Industrial Revolution,” the opportunity for fintech to continue to disrupt the payments landscape and deliver solutions that move money quickly and securely will only continue to grow, says AvidXchange's Dan Drees.

One of the biggest untapped areas of payment innovation is in consumer bill payment, which makes up 30% of U.S. consumer spending, with banks currently playing a shrinking role in the $4 trillion segment.

A recent study from the Federal Reserve outlines consumer habits at the point of sale and offers a preview of how things might trend in the decade ahead.

Automous delivery is a long-term solution, but more creative fulfullment's needed in the meantime, says Roadie's Marc Gorlin.

Billionaire Jack Ma’s Ant Financial has applied for a digital banking license in Singapore, as China’s largest online financial platform steps up efforts to expand outside the mainland.

The social network could achieve many of its goals by working within newer bitcoin protocols, says The Bitcoin Association's Jimmy Nguyen.

Cold, hard currency is still a crucial part of a competitive payments strategy, particularly in massive markets like Indonesia, Korea, Japan and India, says Rapyd's Joel Yarbrough.

A California regulator on Monday denied a lending license to the point-of-sale financier Sezzle in a detailed written decision that could have broader consequences for upstart consumer lenders.

The technology has graduated from early movers and is large enough to make a difference in authentication, argues Findora's Charles Liu.

2019 kicked off with a series of large, multibillion-dollar acquisitions that promised to forever change the landscape of the payments industry. And while those big deals were clustered at the start of the year, many other pivotal deals took place over the course of the year.

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.