Payment processing

Proponents of a plan to get the Postal Service more involved in banking say it would restore profitability. Actually it would lose more money.

Proponents of a plan to get the Postal Service more involved in banking say it would restore profitability. Actually it would lose more money.

Banks are under competitive and regulatory pressure to either compete or partner with fintechs that support services such as mobile payments, and credit unions are in the same boat — though with a very different challenge at the start.

Issuers like Chase and Citi that added installment features to compete with digital lenders will need to think beyond traditional card options.

U.S. firms have been reliant on data aggregators like credit bureaus and other data companies to provide identity verification services, says Entersekt's Jennifer Singh.

Kenneth Montgomery, a top executive at the Federal Reserve Bank of Boston, will head the push to make faster payments available across the industry in the next four to five years.

Gregor Dobbie is taking on the role of CEO of Vocalink as the company looks to expand its B2B payments business in the U.K.

The Electronic Transactions Association has named Jodie L. Kelley as its new CEO to replace Jason Oxman, who left in January.

Were the Fed to develop its own payments platform, it would be expensive, duplicative, inefficient, and curtail development of real-time services, argues the National Taxpayers Union's Thomas Aiello.

Checkout-free technology is very limited in availability and very much a work in progress, but developers and investors are relying on its promise to accelerate payments' broader evolution from streamlining execution to determining intent.

Fintechs can help integrate payments into banking systems while solving the compliance problem, says Joel Sherwin of Weinberg Gonser LLP.

Expense management provider Bento for Business has launched its Bento Pay B2B payment app with partner Dwolla, which has specialized in B2B payments the past few years after initially operating mobile wallet and financial institution faster payment services.

The San Francisco-based fintech is using JPMorgan Chase’s real-time payments service to power the new overdraft prevention tool.

The tougher authentication standards will take time and effort, but will strike a blow against fraud, writes Andrew Mortland, vice president of product at Accertify.

E-commerce's dramatic expansion gives any merchant the opportunity to sell in any market. That leaves payment providers scrambling for an angle in a crowded market.

The difficulty of detecting synthetic fraud has caused it to quickly develop into the primary method of attack for criminals, says Monica Eaton-Cardone, COO of Chargebacks 911 and CIO of its parent company Global Risk Technologies.

The London-based retail foreign exchange firm ChangeGroup has acquired the retail branch arm of the Swedish finance group SVEA Ekonomi to serve consumers who continue to demand cash payments.

India has taken a hard line on cryptocurrency, but other blockchain payments innovation is thriving.

There is no silver bullet when it comes to cybersecurity—and that goes double for the cloud, says Justin Fier, director for cyber intelligence and analysis at Darktrace.

In recent years, the in-aisle payments and checkout-free stores have become increasingly common across the U.K. retail market, especially in the supermarket and grocery sector. Now High Street fashion outlets are coming under pressure to introduce faster and more convenient payment options to keep up with consumer demands.