Payment processing

Younger consumers still like to go to the mall. Keeping them there requires a mix of easy payments, financing and shopping in multiple channels, says Nufar Segal, general manager of consumer financing for at Jifiti.

Under the Illicit Cash Act, anti-money-laundering rules would be clearer — so banks would have no excuses for noncompliance.

Standardizing charge backs would make management easier, and merchants would only have to understand one set of protocols, which could also standardize responses, says Monica Eaton-Cardone, COO of Chargebacks 911 and CIO of its parent company Global Risk Technologies.

“It wouldn't be unusual” for the Federal Reserve to work alongside private-sector operators in the creation of a U.S. real-time payments system, its chairman said.

Two of the three multibillion-dollar payment mergers announced in 2019 closed this week, and these global giants must now fend off the invigorated fintechs eager to nab unhappy merchant and bank clients.

If Bank of America had decided a few years ago to end its joint venture with First Data, it would have been looked upon as just another instance in which a bank was either planning to handle its own payments in-house, or turning those tasks over to a processor.

To address users’ privacy concerns, secure data and avoid litigation or fines while delivering a competitive customer experience, financial institutions must adopt a customer digital identity and access management (CIAM) strategy, says ForgeRock's Ben Goodman.

Community banks shouldn’t wait for the Fed to create a new real-time payments rail when consumers are already flocking to other options.

The Fed's involvement will inject competition into the market and offer merchants choice as they weigh their payments acceptance options, argues John Drechny, CEO of the Merchant Advisory Group.

Long overshadowed by food delivery startups such as Uber Eats and on-demand delivery service players such as Postmates, delivering fuel to a consumer’s vehicle is a convenience service that is growing in the U.S. and other markets.

Bitcoin Hyper is working with a Latin American payment processor to bring acceptance of its high-speed cryptocurrency to multi-channel payment terminals and mobile apps in the U.S. and Latin America.

Two weeks after lawmakers grilled a Facebook exec over its crypto plans, they acknowledged there are benefits from digital currency technology and urged U.S. companies to take the lead.

While traditional payment processors conquered bitcoin in the first battle, the disruptive potential of blockchain technology remains a potent threat and incumbent payment processors should prepare for a healthy new challenge.

Bank of America said it will end a payments joint venture with First Data next June when a contract between the two companies expires.

The time is ripe to move decision-making up the ladder and for organizations to bite the bullet by creating a more inclusive comprehensive strategy for the overall business that considers all the disparate security needs, writes Madeline Aufseeser, an analyst and fintech executive.

The fallout from this spring’s slate of multibillion-dollar payment company acquisitions began swiftly, as Bank of America on Monday announced plans to end its joint venture with First Data just hours after Fiserv’s acquisition of First Data closed.

If the Federal Reserve doesn't maintain an active role, Wall Street megabanks could take over the payments system.

As checkout-free stores dramatically reduce — or even eliminate — the need for point-of-sale devices, terminal makers are turning their focus to multichannel services that can keep younger, digital-savvy customers coming into stores.

House lawmakers go light on BB&T-SunTrust merger; Santander Bank names longtime MUFG Union executive its CEO; the fintechs trying to solve America's retirement problem; and more from this week's most-read stories.

Fiserv expects its $22 billion purchase of First Data Corp. to close on Monday after clearing regulatory requirements.