Payment processing

Payday lenders scored a victory when the bureau committed to proposing changes next year, but they expressed disappointment that the revamp will not address a key payment-processing provision.

In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality.

KBC Bank, a unit of Belgian banking and insurance conglomerate KBC Group N.V., launched a new spare change investing program that rounds up a customer’s daily spend and payment transactions to the next full Euro and invests the difference.

Before the rule was issued, banks and money transfer companies acknowledged that better disclosures and other steps were necessary in light of higher costs for international money transfers.

It is important that all parties involved in construction projects not only be aware of these regulation updates and how they will impact their projects, but also what they can do to prepare for when the legislation inevitably reaches them, writes Matt Johnner, president and co-founder of BankLabs.

There are scenarios that complicate the B2B pricing process, before the customer even requests a quote. These issues vary across industries, growing even more complex once you bring subscription-based software solutions buyers into the picture, according to Mark Bartlett, chief experience officer of FPX.

RPA changes the game, enabling the automated transfer of data between different systems, and bringing significant levels of improved efficiency to the organization, writes Christine Parker, vice president and financial services industry market lead for Pegasystems.

NCR has turned to the acquisition market to shore up its defenses against fintech challengers, a further signal that longtime retail industry staples such as payment hardware and ISOs are going by the wayside as dedicated business models.

Fintechs usually focus on niches rather than trying to be a one-stop shop for every type of merchant. But for Nvoicepay, bigger clients mean bigger opportunities.

Emphasizing its work with various partners in the payments industry as its key to success, Pivotal Payments says it has changed its brand name to Nuvei.

New York's new AML rules clarify how institutions should monitor transactions and screen sanctions lists issued by the US Office of Foreign Assets Control (OFAC). But critically, it goes a lot further, writes Sophie Lagouanelle, Head of Solutions at Accuity.

With VC favorites such as Square and Stripe nipping at its heels, ATM and terminal manufacturer NCR plans to shell out $184 million for JetPay to add remote software to its acquiring menu.

Payment and banking apps are deploying passwordless experiences for convenience and some degree of improved security ahead of a goal to eliminate passwords from the authentication process altogether. We should not, however, conflate passwordless experiences with system architecture where there is no password in use, writes George Avetisov, CEO of HYPR.

Today, you can sell anywhere in the world successfully with just a single payment gateway integration, writes Ralph Dangelmaier, CEO of BlueSnap.

The European data sharing regulation, PSD2, is often seen as a compliance burden for banks — but if used correctly, the rules provide a path to boosting digital payments revenue.

Customer furor stemmed from troubles FIS had processing payments for MetaBank, the issuer of Netspend and other prepaid debit cards.

This week marks the official start of Canada’s legalized recreational cannabis industry — and American Express, Visa and Mastercard are ready to handle the new market's payments, in a stark contrast to their stance in the U.S.

Visa is expanding its Visa Token Service commercially with 20 acquirer/gateway partners it feels can immediately add scale for using interoperable Visa tokens in addition to the partners' own as credential-on-file token requestors.

Blockchain can power faster, cheaper and much more secure transactions, independent from governments, banks and national borders, writes Ali Hashem, an account manager at Dentacoin.

Transaction Network Services has agreed to acquire Australia-based Advam in a move to strengthen the company's services, especially in the unattended payments and e-commerce fields.