Payment processing

Citizens Financial Group has branded its point of sale lending software as Citizens Pay, saying it wants to more clearly define it as a merchant tool for "budget-friendly payment options" for customers who want a transparent and predictable way to finance purchases.

Careful due diligence is required when picking technology to expedite accounts payable automation, says Kofax's Michelle Trapani.

While instant payments and open banking have been gaining momentum across the globe, payments providers have established digitally backed services that not only facilitate seamless financial operations but also help generate revenue, says AFEX Americas' Christian Spaltenstein.

Organizations that put the customer experience front of mind will be the winners, but they must nonetheless expect additional pressure from regulators, new competition, ever more digitally demanding consumers, and no slowdown in technological innovation, says Entersekt's Gerhard Oosthuizen.

As the transport ticketing market evolves in the wake of the pandemic, further intensifying the challenges caused by the dominance of proprietary systems, it’s time to see a more open, collaborative public transport ecosystem, says Calypso Networks Association's Philippe Vappereau.

With people shopping online more than ever before, and a new group of consumers joining the online retail space, it’s become increasingly important for brands to connect their sales channels and embrace e-commerce, says Hatch founder and CEO Joris Kroese.

Even early in the pandemic, it was apparent that acquirers needed digital onboarding, electronic payments and automated chargeback solutions to keep their footing in an acquiring landscape already facing disruption.

The pandemic may have served as a catalyst for rapid growth in contactless payments through wearable devices. It’s the combination of form and function, however, that will push wearable payments into further growth in 2021 and beyond, says Zeta's Bhavin Turakhia.

The events of 2020 fueled new customer expectations, accelerated digital transformation and allowed B2B companies to react and deliver. But customers’ changing expectations are not going to disappear, says MSTS' Brandon Spear.

Card payments can't always cut it in different countries, says PPRO's Steve Villegas.

Finance teams can cut down their workload significantly and free up time to analyze data and make more strategic decisions towards improving customer experience and business growth, says RecVue's Amit Chaudhry.

With many impacted businesses still not ready to comply with the now enforceable CCPA, CPRA affected payment processors should start preparing for this new piece of legislation, says Abine CEO Rob Shavell.

Familiar with personalized offers and options from other industries, patients are tired of a one-size-fits-all payment model, says Visitpay's Kent Ivanoff.

The year 2020 was disruptive and chaotic. And while it derailed or delayed some companies' plans for growth, it also created opportunities for new combinations — or, at the very least, didn't slow them down.

It's important to consider difference uses and types of blockchains based on need and project management strategy for financial and payment technology, says Worldline's Hubert Marteau.

With Microsoft, Equifax and others acknowledging that the SolarWinds hack of U.S. government entities had affected their holdings, security teams and vendors have put the holiday aside while continuing around-the-clock surveillance to ensure no financial services or payments networks have been hacked.

As risk rises and budgets tighten post-pandemic, training all employees about security risks and conducting quarterly penetration tests helps to offset threats and potential losses.

By upgrading permissions and defining access, firms can get ahead of the new threat, says vArmour's Marc Woolword.

In the early days of the pandemic, when consumers seemed loath to touch cash or a PIN pad, it seemed that PIN authentication might have had few days left. But that hasn't been the case.

As business flocks online, voice tech and social are just two of many innovations that will become stable stakes for merchants, says Hatch's Joris Kroese.