Payment processing

As Congress races to fund the government, a criminal justice reform bill could also include the STATES Act, which would provide safe harbor for credit unions serving the legal marijuana industry.

Beyond flashy and visible mobile-driven innovation and transaction options, many executives don’t see the need and opportunity that resides behind the scenes, according to Don Halliwell, director of marketing and communications at Zafin.

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

EMVCo has published the EMV 3-D Secure protocol and core functions specifications v2.2.0 to promote an improved consumer experience while supporting new authentication channels during e-commerce, mail order and telephone order transactions.

Regulatory and demographic shifts have altered the path to credit for younger American consumers. Those shifts have opened up lending opportunities, particularly at the digital point of sale. Merchants, startups and financial institutions are all vying for a share of this (potentially very) lucrative business.

Traditional compliance data handling tools and procedures are mostly not efficient enough to handle the mounting data in the right way, which makes the analysis extremely difficult, writes Srinivasan Pandurangan is senior manager of business consulting at Virtusa.

Cloud-based point of sale company ShopKeep is in a fierce fintech battle to woo tech hungry restaurants, and has closed a $65 million round of equity and debt financing to bulk up technology and broaden its geographic footprint.

Digital funds transfer provider Ingo Money is launching a new software integration with Visa Direct to allow customers to initiate push-to-card payments.

Vocalink, a Mastercard company, signed a contract with Peru’s automated clearinghouse, Cámara de Compensación Electrónica, to modernize the country’s payment infrastructure, including support for real-time payments at all times.

The Fed's faster payments task force is not likely to receive welcoming feedback from current operators who aren't convinced a hands-on role for the Fed is needed.

The Marriott incident will open the door to loyalty program fraud, account takeover and myriad other risks, writes Michael Reitblat, co-founder and CEO of Forter.

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.

Gottfried Leibbrandt will step down next June from Swift, the cross-border payment system, after spending seven years leading a key piece of global economic infrastructure through crises from hacking to sanctions on Iranian banks.

The Bank of England is upgrading the U.K.’s Real-Time Gross Settlement system. Separately, the U.K. payments authority is developing a New Payments Architecture that will upgrade Britain’s Faster Payments real-time retail system.

KKR, which has a substantial financial services portfolio, has made a $75 million equity investment in Cross River Bank, part of an overall $100 million capital raise. Cross River will use the funds to expand the technology and compliance infrastructure that it provides to fintech organizations.

Credit card fraud is on the rise in the U.K. with more than $2 billion being stolen from credit and debit cards over the past twelve months, an increase of 38% on the previous year. But while large scale data breaches have been heavily blamed for this surge in crime, ex-fraudster Tony Sales says one of the most pertinent reasons is a persistent lack of understanding within the financial industry of how criminals operate.

Airports would provide a way to bring Amazon Go to spaces beyond the relatively small storefronts at Go’s early locations in Seattle, San Francisco, Chicago and New York.

Mainstream payment companies are quickly siding with fintechs to dilute the weight of paper on accounts payable and supply chains. American Express is pushing change by making it less of an ordeal.

By giving options, business can ensure that when users are in a hurry and suddenly faced with an elaborate setup for a new logon procedure, they won’t leave for a different provider, writes Marco Lafrentz, a vice president at tyntec.

The advent of this is particularly unwelcome, coming, as it does, at a time when many people not only question the role of a bank after the recent financial crisis and gradual digitization of banking services, but also when their relationship with technology has changed, writes Martijn Moerbeek, director of group digital strategy and innovation at Legal & General.