Payment processing

U.K.-based Nuggets is integrating its blockchain technology to existing payment rails, creating a system wherein merchants will no longer have to access or store consumers' personal data.

By adding device, cryptographic keys and behavioral ID, fake biometrics become harder for crooks to use, according to Bimal Gandhi, CEO of Uniken.

Wire transfers have higher fees and fraud risk than other methods, according to Chen Amit, CEO of Tipalti.

As consumers continue to migrate to banking apps, it may be tempting for banks to focus solely on improving that channel experience. But doing so would be making the same mistake as focusing only on cards or cash at the point of sale.

Providing access to accounts in a disorganized or incongruent manner could endanger PSD2’s opportunities for the entire market, according to Shahrokh Moinian, global head of cash products and cash management at Deutsche Bank.

Two trends — competition from challenger banks and the emergence of real-time payments — threaten to eat away at the fees banks collect on overdrafts and bounced checks.

Hungary’s commercial banks have started the initial testing phase of an instant payments scheme, with plans to go live on July 1 for domestic broadscale use.

By adopting faster payments, businesses have more flexibility to make last-minute payments and emergency payrolls, or gain a larger window for early-payment discounts.

Coordinated, shared identity verification and management is certainly attractive, but there is also tremendous risk and potential liability issues, according to Sunil Madhu, founder and chief strategy officer for Socure.

As the federal budget dispute shoves an increasing number of government workers to the sidelines, there’s a window to provide payments relief that’s superior to options such as payday lending and bartering.

With managers able to approve employees spending via an app on their phone, it empowers employees, shows they are a trusted member of the team and gives them confidence that their employer is forward-thinking, investing in the latest technology to give them the tools they need perform, according to Nick Campbell, head of product strategy and innovation at Fraedom.

The rise of contactless cards could eclipse mobile payments adoption, experts predicted, while evolving fraud threats may give rise to increased account controls for consumers.

Despite years of advancements in mobile and online payments, the physical point of sale remains still ripe for disruption.

The year saw anxiety over how banks would respond to record consumer debt, disruptive glitches at TD Bank and SunTrust, ongoing scandal at Wells Fargo, and much, much more.

Even the best technologies take time, making it necessary to rein in expectations about what will happen and won't happen in the coming year.

LifeLock co-founder Robert Maynard is behind a startup called SurchX, which hopes to capitalize on the confusion around swipe fees with technology that generates a surcharge amount customized for each transaction.

Even the best technologies take time, making it necessary to rein in expectations about what will happen and won't happen in the coming year.

The boom in e-commerce—boosted by mobile devices—is spawning a record number of returns and associated shipping and payment hassles.

Online payments technology provider PayFort says its gateway is now accepting payments from Egypt's new national Meeza debit card scheme through the Central Bank of Egypt.

Signature Bank on Jan. 1 will open its Signet Platform to support real-time settlement for commercial payments. The bank is collaborating with trueDigital Holdings, a New York-based blockchain infrastructure, exchange and settlement technology company.