Payment processing

In a sign of the rapid shift to digital transactions, MoneyGram reported that its digital transactions grew by 100% in May, compared to the same time last year.

Manual work is time-intensive and resource-draining, especially when it involves high volumes of data across disparate systems. When it comes to payments, this can get really complicated with all the moving pieces, says Global Payments Integrated's Ashley Jones.

Mondial Bony has partnered with Credorax to launch the MondialPOS merchant acquiring solution in Italy to address the country’s shift to e-commerce amid coronavirus.

Meeting customers where and how they want to pay is critical for completing transactions, and while retailers want to offer as healthy and safe of a solution as possible, but that can be expensive and complex, says Merchant Advisory Group's John Drechny.

As treasury departments modernize, new ways to serve consumers also arise, says Icon Solutions Lauren Jones.

B2B space will have a permanent shift towards digitization, a desire for contactless experiences, and a greater need for efficient and reliable cash flow, according to Billtrust's Nick Babinsky.

Cryptocurrency and blockchain technology embodies a unique set of properties that enable a rapid response toolkit for governments in times of crisis, says CoinFlip's Daniel Polotsky.

As merchants are challenged to adapt their business just to survive, and consumers push for greater control over where and how they spend, the payments industry is in a position to align the various needs, says Splitit's Brad Paterson.

Merchants will need to adopt practices to curtail the surge in chargeback activity and protect their businesses, even after the worst of the coronavirus outbreak is over, says Chargeback 911's Monica Eaton-Cardone.

The challenges may seem daunting, financial institutions and fintechs must focus on identifying meaningful opportunities based on the financial priorities of consumers and businesses to help them weather these difficult times.

Automation and technology allow lenders to handle an evolving situation that changes by the day: adjustments are easily made to terms, timing and required data for loan forgiveness, says PayNet’s William Phelan.

DBS Bank India is offering a real-time digital payment service for truck drivers and supply chain companies that generally have round-the-clock operations and large transaction volume to cover employee expenses.

The global coronavirus outbreak has up-ended daily life for many consumers, including where they shop and how they pay for things. The U.K. is no exception, as issues of health and hygiene have now been introduced as important factors when it comes to both planned and impulse shopping.

U.K. fintech Rapyd is offering clients the ability to accept all payment methods through one application interface, a digital service it says eliminates the need for companies to develop complicated payments infrastructures.

Minimizing outsourcing is one way to minimize uncertainty, making sure you’re the one in the driver’s seat of your plans.

There are several ways the coronavirus has shown that traditional manual, paper-based AP processes are not up to the task in 2020 and beyond.

The lines of white cooling trailers that silently announce the scale of the tragedy are what lockbox employees at JPMorgan Chase see on their way to work.

Mobile and contactless payments have generated more consumer attention as ways to safely move money during the coronavirus pandemic, but there's also a growing wave of support for The Clearing House's Real Time Payments network for banks.

Faster processing is not normal, and payment companies need to add more value to capture business, says Icon Solutions' Lauren Jones.

Venture capital and technology marketing veteran Allison Johnson has departed PayPal, where she was chief marketing officer for the past 16 months.