Payment processing

Fragmented and manual AML processes pose a challenge to many institutions, contends Edmund Tribue, risk and regulatory practice leader for NTT.

VC firms Capital 300 and Draper and Associates have made a Series A investment in Authenteq, a identity security firm that uses blockchain, which is gaining steam as a means to support digital ID.

The Chinese government is not formally considering Visa and Mastercard’s year-old application to process payments inside China, another signal of China’s almost constantly changing regulatory posture toward the American card brands.

The U.S. online lender provides credit lines of up to $150,000 to small businesses that shop at Alibaba.com.

Global payments provider Paysafe Group has appointed Mastercard vice chairman Walt Macnee as an independent, nonexecutive director.

Terminal manufacturer and payments technology provider Ingenico Group has completed its acquisition of New Zealand-based payments network Paymark.

TSYS is responding to growing demand for a lighter and more versatile point of sale with a line of payment tools answering many of the newer merchant needs Square, Clover and Poynt typically provide.

U.S. Bancorp’s Elavon has acquired CenPOS, a B2B payments software provider with a heavy focus on large companies in the automotive, travel and entertainment industries.

Global Payout is providing software to the makers of point of sale hardware for the cannabis industry, integrating payment card processing with other business services common for dispensaries.

FIs can free their IT team to focus on more profitable projects, reduce the risk of fines and ease the administrative burden of audits, writes Sean Ventura, chief information security officer at Atmosera.

Thin margins and lengthy payment cycles can make cash flow challenging, but the payment terms of an invoice can ease some of that pain, contends Brandon Spear, president of MSTS.

Whether it's the OCC's special-purpose charter, ILCs or some other option, observers see fintechs being able to obtain banking powers.

Cross River Bank has formed a partnership with Stripe that will handle every debit push payment within its platform in near real time via Mastercard Send and Visa Direct.

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.