Payment processing

The COVID-19 pandemic has already given rise to false marketing of test kits and criminals impersonating the FDIC. Consumer advocates say the bureau could issue alerts as well as empower banks to help safeguard their customers’ funds.

Over the past year, buy now, pay later schemes have risen to become the trendiest method of retail payments in the U.K.

The processes and standards in place to ensure our payment cards are robust, secure and work in harmony with the rest of the ecosystem are given little spotlight, but they’re invaluable to the payments world’s smooth operation, says Fingerprints' Lina Andolf-Orup.

Payments technology provider Fiserv is acquiring independent software vendor Bypass Mobile to boost its multi-channel capabilities for sports, entertainment and restaurant verticals.

Heritage financial institutions that don’t support emerging embedded payments and banking risk further erosion of younger cohorts and losing material franchise value to fintechs, challenger or neo-banks equipped to originate and service accounts at the edge of partner networks, say payment consultants Richard Crone and Heidi Liebenguth.

RTP Global and HV Holtzbrinck Ventures led an €18.5 million ($20.3) Series B round in Penta, a Berlin-based small business bank.

In a scenario where employees regularly and accurately track and report their business expenses, this continuously updated data helps businesses make intelligent decisions quickly, says Fyle's Yash Madhusudan.

The Australian firm agreed to pay around $1 million in connection with allegations that it broke the law by operating without a license in the nation's largest state.

Governments are directly advancing real-time digital payments — a welcome move for Ripple, which is applying its relationship with MoneyGram and a growing base of eager partners to expand its network.

Hungary’s domestic debit network GIRO has launched instant payments through Nets’ RealTime24/7 platform after months of testing.

A managed services approach can help payment firms and fintechs pick the best open source projects, says Asset Control's Mark Hermeling.

Taking the time to consider which technology to adopt for the new, expanded organization can be a critical success factor in the long run, says Bottomline Technologies' Jessica Cheney.

Fraudsters tend to be oporptunistic. They’re constantly looking for new ways to abuse businesses and cardholders, making it difficult for security professionals to keep up, says Chargeback 911 and Global Risk Technologies' Monica Eaton-Cardone.

Bankers cannot say that real-time doesn’t matter or that the status quo is fine, according to Neocova's Sultan Meghji and Kelsey Weaver.

Firms such as Afterpay that offer financing to shoppers have been enjoying rapid growth. But their model is under scrutiny from regulators, being mimicked by credit card lenders and faces heightened risks in a downturn.

Digital financial technology provider Wirecard AG is partnering with Grab to process transactions from the GrabPay e-wallet in Malaysia, the Philippines and Singapore.

Payments software company SpotOn Transact has completed a $50 million funding round that included investments from 01 Advisors, a firm founded by former Twitter executives.

The Fed can take steps now to speed up existing networks.

As we launch into a new decade, today’s new workforce wants, expects and demands easy-to-use apps in the vein of what they’re used to in their day-to-day lives, says Fyle's Yash Madhusudan.

Brendan Coughlin, head of consumer banking, explains how Citizens established its relationships with Apple and Microsoft for point of sale financing and how they've evolved.