Payment processing

Millennium bcp, Portugal’s largest private bank, will be the first bank in Europe to issue cards with China’s UnionPay brand.

Walmart is already a retail heavyweight, and it has never shied from innovative projects to change the way people pay.

The regulations for legal cannabis are slowly loosening, but whether they have loosened enough to support a “normal” online shopping experience in the U.S. is being put to the test by a new mashup of digital ordering and payment tools.

Creditors, governmental bodies, health care providers and third-party debt collectors alike need to embrace the consumer disclosure requirements of E-Sign if they want to save on postage expenses and satisfy the growing needs of consumers to manage their business using electronic communication methods, writes Rozanne Andersen, vice president and chief compliance officer at Ontario Systems.

While equity prices drop an average 5% at big banks, bosses express confidence in the U.S. economy; the bank appoints new managers in payments, consumer banking and marketing.

A shopping experience so easy that you feel like you’re shoplifting may be appealing, but it also raises privacy concerns, writes Peter Zaborszky, founder of BestVPN.com

Whatever the central bank decides, it is sure to ruffle a lot of feathers in the industry.

Banks are generally reluctant to let industry entrants run their infrastructure, and few fintechs dare try. Enfuce, which was founded by local industry veterans, bucks the trend.

Premium loyalty is about brands and customers committing to each other from the start. It’s about brands aligning with their customers and giving upfront, according to Tom Caporaso, CEO of Clarus Commerce.

As consumers adopt mobile wallets or in-app payments, it leaves some acquirers and merchants struggling to keep up — especially if their current point-of-sale systems struggle to handle multiple software programs and apps.

Walmart, Tractor Supply and Home Depot are among the retailers using cashierless checkout ad local sourcing to tailor services for specific communities, according to Marc Gorlin, CEO and founder of Roadie.

The Amazon effect and rules such as PSD2 and GDPR are threatening technology laggards in traditional financial services, contends Stephen Menon, vice president of product at Finn AI.

Installment plans have helped shoppers afford large purchases since the late 19th century and are still available for pricey items like cars and smartphones. But to delay payment for a T-shirt and a couple pairs of jeans, you needed a credit card. Now several fintech startups are putting smaller purchases on installment, too.

Phishing is a serious and growing problem in the financial services and payments industries, creating pressure to come up with advanced detection techniques, according to Adrien Gendre, chief solutions architect for Vade Secure.

Proponents of real-time payments systems say banks must embrace them given consumer demand for more immediacy and transparency, even if criminals will try to exploit them.

Blockchain may have received its most exposure as the distributed ledger technology at the foundation of cryptocurrency exchanges, but its use cases are advancing into other data-driven or supply-chain industries pursuing the Internet of Things.

Traditional screening solutions are not able to process such a huge influx of records quickly enough, creating a queue that the system has to work through, slowing down the customer experience, writes Vincent Gaudel, a compliance expert at Accuity.

Atlanta-based Global Payments is working with startup InVision, a design company that works with companies like Google and Netflix, to design a portal that will allow merchants to quickly work with banks or customers to reconcile and troubleshoot transactions, including addressing disputes and chargebacks.

As U.S. banks move toward faster payments, they should heed the lessons U.K. banks learned about criminals after launching their real-time transaction system, says Varo Money's fraud strategy leader.

The continued trend of “spear phishing” and “catfishing” only serves to highlight the complex work required to identify genuine from fraudulent, writes Steven Goddard, product manager for risk at The ai Corporation (ai).