Payment processing

Web-based key users can have secure access to an online management application from anywhere in the world and can change key access permissions, profiles, schedules and validity, even revoking their use virtually at the click of a button, writes Pip Courcoux, sales and product manager for CLIQ Systems at Abloy UK.

With Wirecard's value tumbling since a Financial Times report two months ago alleging an accounting scandal in its Asian operations — and a followup Wednesday reporting that half of its revenue comes from "three opaque partner companies" — the German payments processor received a lift from a €900 million ($1 billion U.S.) investment from Japan's SoftBank.

Until significant steps are taken toward creating a seamless and intuitive experience, blockchain will fall short of its goals, as it is unable to communicate its value.

By allowing instant issuance to be executed from the most secure infrastructure available, PCI-CP introduces greater flexibility and protection than older standards, according to Ranjeet Khanna, vice president of financial issuance at Entrust Datacard.

So far, 2019 has been characterized by a series of eye-catching strategic deals within the global payments ecosystem, with new players positioning themselves to rival Visa and Mastercard. The card networks giants have responded by pursuing a strategy to become less reliant on transactional fees.

There are many motivations for implementing faster payments, such as paying gig economy workers after each job, sending funds overseas, or improving insurance payouts. In all of these examples, the demand comes from the payments recipient.

As banks continue to invest heavily in developing mobile and web-based services for personal and business accounts, investments, money transfers, micro loans and peer-to-peer payments to make the customer experience as seamless as possible, they cannot afford to let compliance efforts lag, writes Sam Abadir, vice president of industry solutions for Lockpath.

The reasons for banks to not embrace faster payments schemes are quickly dwindling. But many are still watching from the sidelines.

Readers debate the Federal Reserve's potential entry into real-time payments, consider the Consumer Financial Protection Bureau's guidance for assessing fines, discuss the efficacy of financial education programs and more.

Allied Irish Banks and First Data's joint venture have agreed to a $112 million deal to purchase the consumer payment network and merchant acquirer.

T-Mobile, which announced Thursday that its four-month testing phase for the T-Mobile Money app is complete and that the banking/payments service is available nationwide, said the next step is to establish itself as a mainstream financial services company.

Flywire is partnering with True North to allow Canadian educational institutions to better manage payments from international students by integrating them with application, enrollment and accounts receivable processes.

Arguments that the central bank should develop its own system for faster payments ignore current market realities, says The Clearing House, which has developed its own network.

If American Express is going to soar in the future, it plans to do so firmly attached to the new 11-year contract it has signed with Delta Airlines.

A Toronto fintech is seeking share for distinct niche — and it thinks a three-year-old technology decision by Visa may be the ticket to its success.

When deploying connected devices, firms much balance the mix of innovation and security, writes Pip Courcoux, sales and product manager for CLIQ Systems at Abloy UK.

Stripe has updated its products and made an acquisition to prep for new security standards it says will impact more than 300 million people, potentially giving Stripe the same kind of influence over European merchant technology that it enjoys in the U.S.

CV Systems’ COO Randy Schmidt, BHMI Chairman Jack Baldwin and Mickey Goldwasser, vice president of Payrailz, discuss challenges and opportunities, for faster payments, back office gaps, and cross-industry cooperation.

The Minneapolis bank reported mid- to high-single-digit improvement in those categories, but total loan growth was curbed by declines in CRE and other credit types.

Payments providers can use this announcement as a chance to evaluate their mobile payment offerings and gain a better understanding of consumers’ evolving expectations in order to better serve their merchants, writes Casey Bullock, general manager of global enterprise e-commerce for North America at Worldpay.