Payment processing

As the Federal Reserve's FedNow instant payments and settlement system enters into testing and use-case development phases, an emphasis on speed to market, ubiquity and compatibility with other systems remains in the forefront.

Speed stands at the forefront of any real-time payments deployment, but the real staying power in new payments innovation rides on the development philosophy of the platform itself.

To take on these other forms of contactless payment, the POS must offer the same functionality as stationary cash registers, including card payments, digital receipts, coupon redemption, mobile payment and CRM integration, says GK Software USA's Todd Barstow.

Michael Moeser, Senior Analyst at PaymentsSource, talks to Jess Turner, EVP of consumer and small business solutions at Mastercard, about how consumers are making payments when they're no longer on lockdown but not quite back to the way things used to be.

If the processor does not understand the particular needs of high-risk businesses, merchants working with them could face sudden financial disaster if accounts are terminated without warning, says T1 Payments’ Donald Kasdon.

COVID-19 has accelerated changes in payments behavior that would otherwise have taken years to occur, laying the foundation for global expansion post-pandemic. But for different parts of the world, this digital transformation had very different outcomes.

Implementing real-time documentation and reporting workflows enabled by AI-powered speech recognition cuts time, says Nuance Communications' Ed McGuiggan.

After two years of helping banks connect globally to domestic faster payments rails, Swift is planning to expand on that concept.

As more consumers look for alternatives to credit cards, investors are flocking to point of sale credit firms, with Affirm raising a fresh $500 million.

After two years of helping banks connect globally to domestic faster payments rails, Swift is planning to expand on that concept.

In the face of the current pandemic, what was a growing trend became a necessity for many businesses as shelter-in-place orders changed how they operate day to day, says OnPay's Katelyn Sullivan.

Besides providing a safe, sanitary no-touch payment option for consumers, there are other advantages to contactless payments, such as line-busting, says Todd Barstow, vice president of payment solutions for GK Software USA.

The fintech, which spent most of the last decade touting various alternative ACH-powered faster payments approaches, is adding the more mainstream option of debit push payments in its latest iteration.

The pandemic has upended many business tasks, creating a rush among processors to expand the digital experience without complicating it.

PaymentsSource Senior Analyst Michael Moeser talks to Tyler Beuerlein, chief revenue officer of Hypur, about the challenges of handling payments in the legalized cannabis industry.

Credit and debit cards, merchant apps and loyalty programs are being linked through a platform from U.K-based Fidel to provide real-time rewards, business expense management, digital receipts, and charity donations.

The controversial TikTok U.S. divestiture is inching toward a conclusion, but the battle over how and where data is collected has become a geopolitical barrier to international e-commerce growth that goes far beyond the Chinese video-sharing app.

When the pandemic shut classrooms across the U.S. this year, the federal government looked for a quick solution to prevent millions of needy students who typically receive meals at school from going hungry.

Alternative payment methods such as bank transfers, e-wallets, cash-based payments and other payment types are currently the vast majority of e-commerce transactions globally, says PPRO's James Booth.

Blockchain's cross-border power eliminates the intermediary and solves the problem of rendering the traditional processing system redundant, and processes the payment on a chain with no middleman intervention, says ForumPay's Joshua Tate.