Payment processing

Now is the best time for SMBs to adapt before the major influx of traffic that will come when businesses are allowed to fully reopen, says Fattmerchant's Suneera Madhani.

The COVID-19-induced shock to the world’s largest economy has created a rush of interest in the subscription industry, as millions of captive consumers with almost nowhere to go and plenty of time — and for those employed, plenty of unspent money — on their hands.

See this crisis not as a nail in your corporate coffin but as an opportunity to move your team and members forward, said OBI Creative CEO Mary Ann O'Brien.

Eric Grover, principal at Intrepid Ventures, talks to PaymentsSource senior editor Kate Fitzgerald about how the high-flying German fintech fell to scandal — and whether it could happen again.

Payment technology provider Patientco has agreed to provide billing communication and payment tools to nonprofit health care organization network BJC Healthcare.

The coronavirus pandemic has cast a shadow over the use of cash, which is often perceived as dirty because it frequently changes hands and is almost never washed.

By boosting digital payments and mobile experience, issuers can turn routine transactions into meaningful interactions, says Entersekt's Simon Rodway.

Old scoring and algorithms don't consider a rapidly changing economy and risks, according to consultants Maria Arminio and Bo Berg.

Merchants finally have a range of alternatives to accepting payment cards in Europe, thanks to open banking initiatives. But switching to instant payments is no easy decision, even if it's cheaper on paper.

The coronavirus pandemic has cast a shadow over the use of cash, which is often perceived as dirty because it frequently changes hands and is almost never washed.

A staged implementation rolling up national systems offers EPI its best prospects. Still, it’s a long shot, says Intrepid Ventures’ Eric Grover.

The Australian firm, best known for financing online purchases, is rolling out interest-free, point-of-sale loans at cash registers that it says could help U.S. merchants boost flagging sales.

Afterpay has launched a version of its online installment payment method for in-store use in the U.S. by leveraging Apple Pay and Google Pay.

Payment fraud remains a credible threat and unfortunate reality for the majority of businesses, something that is unlikely to go away as fraud methods continue to evolve, says JPMorgan Chase's Alec Grant.

Suppliers that still need to receive physical checks should still be able to do so. Even if they do, the process remains electronic on the accounts payable side, says AP side so that customers can issue check payments in the same batch as other electronic payments, says Nvoicepay's Angela Anastasakis.

It’s no surprise that the first step in the modernization of the payment industry was the issuance of virtual cards. These new payment instruments abstracted debit cards, credit cards, and prepaid gift and incentive cards down to their essence, says Marqeta's Vidya Peters.

To ensure safe, secure transactions that are protected against fraud, retailers moving to EMV have been encouraged by their POS partners to replace or upgrade the network infrastructure, says TNS' Brian DuCharme.

Viewing it as a way to help businesses emerge from the COVID-19 pandemic, Ingenico is targeting digital merchants with expanded services addressing cross border, recurring and subscription payments.

As the age of clocking in and out of the office gives way to the gig economy and remote employment opportunities, workers have new expectations around the way they will be paid.

For the past several years, the concept of sharing transaction data between merchants, processors and issuers has been considered a good security measure to curb fraud. But someone has to compile and compare that data in such a way to not only stop fraud, but assure legitimate transactions are not declined.