Payment processing

ZestFinance is bringing its machine learning software ZAML to Brazilian retailer Via Varejo and its digital banking subsidiary Banqi to power the credit underwriting for Varejo’s “carnês” point-of-sale microfinance lending product.

For business payments, financial institutions have the trust advantage over fintechs but are not offering an easier experience, argues Steve Robert, co-founder and CEO of Autobooks.

The company, which announced the conclusion of a three-year-old credit card partnership with TD Bank, is shifting to digital financing of individual consumer purchases.

Swift completed a seven-country trial of its cross-border GPI Instant payment service resulting in the successful integration with Singapore’s domestic instant payment network FAST.

For ISOs, it's hard to watch someone else deliver payment services in their place.

Postmates, which relied solely on Stripe Connect for accepting customer payments for its on-demand delivery service launched in 2011, is adding Adyen as another partner for payments processing.

Optimizing web sites to be able to accommodate more traffic must be a long-term goal, not only the special days, writes Lex Boost, CEO of Leaseweb USA.

Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow.

Artificial intelligence software could even be used to analyze and score credit transactions as is done for banking transactions, writes Monica Eaton-Cardone, COO of Chargebacks 911 and CIO of its parent company Global Risk Technologies.

In immediate, unrestricted availability of funds, the only true providers are those networks operated by banks or other financial institutions, writes Jack Baldwin, CEO of Baldwin Hackett & Meeks.

Finix, a startup offering tools for businesses to develop their own payments technology, has raised $17.5 million in Series A funding from investors that include Bain Capital and Visa.

The bank is taking a concept that has worked for years in the credit card world — artificial-intelligence-based fraud detection — and applying it to corporate customers' transactions.

Indian consumers and businesses would be best served if New Delhi confined itself to discrete interventions to reduce structural barriers to payments competition, rather than imposing price controls, dispensing subsidies and promoting national favorites, says Eric Grover, a principal at Intrepid Ventures.

The argument that only the federal government is up to the task is misguided.

The fintech rush into point of sale financing is partly a play on younger consumers’ migration away from traditional credit cards. This, in turn, has prompted a counterplay from Citizens Bank.

From data rights to common security measures, organizations that provide clarity on how companies handle financial data and access can pave the way to more fruitful relationships, writes Steve Smith, chairman, CEO and co-founder of Fincity.

The SEC is paying close attention to cryptocurrency, though its efforts may be counter to its priority to foster innovation and capital formation in the U.S., contends Bill Martin, a lawyer in the New York office of O'Melveny & Myers.

Often overlooked as prospects by financial services institutions who have increasingly focused on the wealthy, hourly workers represent a massive pool of underserved consumers with distinct financial needs.

Interchange rates on payments in the fuel and energy sectors can be so complicated that energy marketers can lose thousands of dollars a year because of mistakes they make in coding their authorized credit card transactions.

Chief financial officers have to wear many hats to help new payment and fintech companies respond to a fast-evolving market, says Brex's Michael Tannenbaum.