Payment processing

As futuristic as real-time digital payments can be, the concept is almost like a blast from the past for FIS’ Raja Gopalakrishnan.

With time running out, industry actors are looking for ways to maintain the integrity of the infrastructure while recognizing a new banking framework following a no-deal Brexit, says GlobalSign's Arvid Vermote.

Replacing the traditional POS model will be a cloud-focused and software-defined model that gives shoppers their choice of checkout and reimagines the store experience, says Zynstra's Brian Buggy.

Our collective work on the real-time payments front is not for naught. That is because the consumer and business needs are evolving, says Bottomline's Jessica Cheney.

Real-time payments carry a trove of valuable data for supply chains, and a way for card networks to grow beyond card-dependent revenue. The collaboration between Payments Canada and Mastercard’s Vocalink will go a long way toward both ends.

Concerns over cash and checks are permanent and will make contactless mainstream, says Global Market Insights' Vinisha Joshi.

Inflationary and macroeconomic pressures will position bitcoin as a new asset that acts as a recognized store of value against inflation, says FiCAS' Ali Mizani Oskui.

Brazil aims to move beyond the era of cash payments on Monday, when the Banco Central do Brasil launches the Brazil Instant Payment System.

For the 2020 holidays, retailers that enable payment flexibility by catering to global shoppers will prepare themselves for lasting success, ensuring they are on the right side of this industry transformation.

The Interac debit network is expanding online and in-store options for Walmart customers throughout Canada, looking to have new technology in place by spring of 2021.

In today’s changing work environment, a one-size-fits-all policy does not make sense. An AI-based system means organizations rely less on an auditor’s luck in catching expenses abuses, and more on a systematic, evidence-based, and consistently fair approach, says AppZen's Andrew Foster.

The everyday occurrence of patients leaving medical appointments or hospital stays with no idea what their insurance will cover, what they owe or what payment options exist would change dramatically if health care facilities turn to technology that delivers accurate billing at checkout.

While we can’t know what the post COVID-19 landscape will look like, we do know that business expenses will ramp back up, and with them, higher expectations for digital payments from both suppliers and vendors, says Wex's Jay Dearborn.

But with the deadline fast approaching and no further extensions on the horizon, focusing squarely on accelerating EMV compliance is now the optimal decision for gas station owners, says Paysafe's Lori Griboski.

Contactless payments, staging and early wage access have built a permanent following and should be part of any alternative financial services mix, says DigitaMint's Marc Grens.

The uncertainty from the pandemic has made costs unpredictable, says Ally Lending's Hans Zandhuis.

One area of certainty in the 2020 election is the momentum for legalizing cannabis, as a string of ballot box victories makes it harder for banks to avoid working with dispensaries and other legal marijuana businesses.

Consumers will still prefer minimizing physical contact, while relying on digital payments and looking forward to adopting smarter methods that are secure, convenient, and less time-consuming, says Global Market Insights' Vinisha Joshi.

It is a frustrating reality during a time of national crisis that emergency payment options for vulnerable populations remain such a complex and inefficient landscape, says Flourish Ventures' Sarah Morgenstern.

Michael Moeser, Senior Analyst at PaymentsSource, talks to Alex Fisher, Vice President of Retail at Afterpay, an Australian company, about the factors behind the growth of the global 'buy now, pay later' market.