Payment processing

With the realities brought on by COVID-19, going digital is no longer optional—it’s necessary.

Nano Banc's president, Mark Troncale sits down with PaymentsSource's senior editor Kate Fitzgerald to discuss how the fintech decided to be amongst the first wave of small-to-midsize banks adopting The Clearing House's real-time payments solution. So how did it go?

Drive-thru is almost synonymous with fast food, but for some quick-serve chains — like Subway — a past emphasis on in-store dining meant a much sharper pivot when the coronavirus pandemic struck.

The European Payments Initiative sets up a unified and harmonized pan-European payment solution, providing major benefits to both consumers and merchants, says FIME's Arnaud Crouzet.

The buy-in from Apple proves contactless payments are on the rise, but should also act as a warning sign for banks to promptly restrategize if they want to uphold their position in the industry, says Tealium's Heidi Bullock.

Riding a technology wave that helps attract more customers and generate more revenue sounds appealing enough — but with contactless payments, there isn't always a clear upgrade path for stores that have relied on older terminals.

Swedish point of sale credit company Klarna put itself in the awkward position of apologizing and trying to explain marketing emails to surprised and angry consumers, a misstep for a firm whose credit card alternative has found major traction during 2020’s crises.

With accelerated demand for digital payments since the outbreak of COVID-19, merchants must adapt fast, says Stone's Augusto Lins.

In the two months since earned wage access (EWA) provider Immediate launched Visa Direct as a payment option, the near real-time method is already accounting for 50% of its payments.

The combination can address the different threats posed by money muling, which is on the rise with more people at home, says FICO's TJ Horan.

It's a perplexing problem for those developing and instituting Payment Card Industry data security standards: Even as threats rise, the number of organizations that fully comply continues to drop.

During this time of economic disruption that has deep implications for the corporate sector, financial institutions need to make AI a core part of their efforts to adjust to the new normal and take advantage of the enabling technologies that can propel adoption quickly, says Canonical's Kris Sharma.

Paytm’s decision to open its own app store after Google forced developers to use its billing system was a predictable move, as is the potential for fintechs to steal payment volume from the technology giants.

While validating the card itself can protect merchants from accepting fraudulent cards at the point of sale, it does not protect the actual data on the card itself from being intercepted in the POS device, says Bluefin's Rustin Miles.

The threat has been exacerbated during the pandemic, as shelter in place orders forced consumers inside and businesses to close their physical doors, while simultaneously opening online ones, says Sift's Kevin Lee.

Retailers that provide customers with their preferred way to pay — visible or invisible — will be the ones who prosper in today’s competitive marketplace, says PPRO's Matt Jackson.

Control of the U.S. Senate hangs in the balance in the upcoming election, with the outcome determining the direction of laws and regulations that can have a profound impact on financial services, technology, fintech and payments innovation.

For suppliers, getting paid by card is the fastest way to get their money in the bank. On the buyer’s side, virtual cards are the most secure payment method, and they can also generate rebates, says Nvoicepay's Kristin Cardinali.

The ongoing pandemic and economic crisis should accelerate the adoption of payments as a service, APIs and open banking, says AFEX Americas' Christian Spaltenstein.

Swift is working with more than 20 banks in its network to test a service designed to help consumers and small and medium-size companies send low-value cross-border payments with the same speed and transparency benefits larger banks enjoy on Swift rails.