Payment processing

Payments technology provider FIS is expanding its processing services into the growing markets of Malaysia, South Africa and Nigeria.

It is the largest global treasury bank so far to implement Mastercard’s direct debit service.

The pandemic has caused dramatic changes in all industries, which adds extra stress on payment companies, says PXP Financial's John Bell.

Banks face increasing competition from fintechs, third-party lenders and large technology companies as customer demands evolve, says Mastercard's Fabrizio Burlando.

Comdata has launched Fintwist OnDemand to provide instant earned wage access services to working adults amid an increasingly crowded market for faster payroll payments.

Modern payment processors using AI to interpret and analyze trends and point-of-spend data can detect fraud across ecommerce in real time and provide that knowledge onwards to the bank just as quickly, says Paymentology's Abe Smith.

Wells Fargo wants to use the real-time payments network being developed by the Federal Reserve for 24/7 liquidity management. The online-only First Internet Bank aims to use it to help customers manage their bills and cash flow.

The time has come for the payments industry to take a long, hard look at how we market and sell enhanced pricing programs, says Clearent's Phil Ricci.

We’ve seen many companies embrace faster and easier payments systems, says Citizens' Matt Richardson.

Financial crime isn’t going away, and it’s growing worse all the time. That’s why institutions need to move at the speed of fraud, says Quantexa's Clark Frogley.

The surge in digital and cloud-based payments technology hasn’t killed off point-of-sale terminals; their role is simply changing, as cloud-based payment providers like Podium roll out their first hardware.

While accounts payable systems are adjusting to decentralized work, it's unrealistic to expect a complete migration overnight, says Proactis' Michael Ereli.

The company’s payments services business has struggled during the pandemic, but executives are counting on commercial clients’ embrace of real-time payments to help fuel the unit’s growth in 2021.

The single-use element of virtual cards deters hacking, says Nvoicepay's Kristin Cardinali.

The fintechs Nymbus and Segmint teamed up to translate the gibberish on bank statements into actionable data.

The fintechs Nymbus and Segmint teamed up to translate the gibberish on bank statements into actionable data.

The unfortunate reality for merchants and their customers is that swipe fees have continued to increase because the payment card market is broken, says payments consultant Mark Horwedel.

Federal Reserve Chair Jerome Powell said the central bank is involved in a large-scale research and development project on the digital dollar, and that questions of whether adopting such a currency would provide a public benefit have yet to be resolved.

Lending options at the physical point of sale are going to play a significant role in how consumers take part in a post-pandemic economic recovery. But as with many payment methods, they risk leaving out the underbanked.

The industry’s most effective relationships come when providers serve as collaborators and an extension of their clients to serve customers and work in tandem to address a range of challenges and grow their businesses together, says Paya's Chris Scappa.