Payment processing

Because the legal cannabis industry is typically considered too high-risk for most banks and payment processors to work with, most technology solutions are designed to duplicate the familiar process of paying by card.

Thanks to the downstream nature of technology, what was once the domain for large organizations is now accessible to organizations of all sizes, writes Ralph Perdomo, a research analyst at Nvoicepay.

Even as the payments landscape has become increasingly complicated and convoluted over the past several years, many industry players have not kept pace with their payments testing methods or tools, writes Steve Gilde, director of global product marketing for Paragon Application Systems.

To date, payments companies have feared common biometric methods such as fingerprint or iris scanning are unreliable and susceptible to hacking. However, there’s growing evidence that finger vein ID could prove more palatable.

Installing a modern payment gateway, for example, makes the checkout process more convenient, speeding up order processing while offering alternative payment methods, saved customer information and location-specific options, writes Amit Bhaiya, co-founder and CEO of DotcomWeavers.

One expert says the U.S. lags behind other countries, but changes are coming soon – and fast.

Legacy card issuers are facing a huge problem that threatens their relevance. Most of them are trying to launch a spaceship with a steam engine, and many of the solutions to that quandary are expensive, risky — and temporary.

Credit unions are working to turn a distributed ledger-based identity project into a platform for payments and financial services.

In blockchain, a dispersed network of stakeholders takes over the previous owners of such services. These providers and users not only own but maintain the services that are powered by the blockchain. They also get to share the profits that are produced by the services, contends Donika Kraeva, communications manager at Dentacoin.

Processing.com has 25 acquiring banks lined up as its transaction network, creating a safety net for dealing with high-risk merchants.

Proximity to the client is crucial. Only by understanding your client’s perspective on AI can you deliver a project that is truly worthwhile, writes Naomi Bowman, managing director at Berkeley Research Group.

For NCR and Diebold Nixdorf's leadership, spotting the fintechs nipping at its heels is the easy part. Charting a path as a half-century old market changes into something entirely new will be much harder.

As part of the modernization of the U.K.’s payments systems, the new Image Clearing System is now being phased in. All banks and building societies across the U.K. are connecting their deposit channels into the central infrastructure, a process that will be completed by the end of 2018.

In partnering with Ingo Money, Safelite Solutions will be able to provide a service for their customers that's designed to make the processing of minor auto physical damage claims easier than manual processes.

B2B payments have long lagged consumer transactions in adopting new technology, but fintechs have recently increased automation in an attempt to reduce manual and paper-based processing.

Consumers generally approve of GDPR’s goals of tightening data-protection and consumer privacy, and more than half would consider fleeing to another provider if they suspected corporations were unclear in their communications or intentions about gathering data.

Companies have tried for years to build a market for interactive cards, with little success. Dynamics is taking a different tack by approaching banks to issue the cards, rather than selling directly to consumers.

Health care's a vertical that keeps coming up over and over as a laggard that sticks to paper, manual forms and other legacy payment methods, mostly because of the number of documents that would need to be digitized for even one part of the process to enter the modern age.

While using a cryptocurrency as a means of payment instead of an investment may not be unique, most are challenged in environments that require speed, security and the need to work around cash or payment cards. Dash attempts to differentiate from competitive cryptocurrencies, including bitcoin, by addressing those concerns.

The logistics company said it intends to use the funds to invest in supply chain technology and serve merchants on its platform, which connects scooter-riding drivers in about 400 cities with about 1.2 million online merchants and delivers everything from packages to groceries.