Payments

A recent report from the CUSO shows an increase in spending, in line with recent predictions from the National Retail Federation

It can be a painful process for a bank to go digital, but there are ways to ease the transition.

The U.S. District Court in New York has issued final approval of an estimated $6.2 billion settlement in the merchants' class-action lawsuit over swipe fees, a 15-year-long case against Visa and Mastercard. But the struggle between merchants and the card brands doesn't end here.

Targeting about 1.5 million Canadians who routinely visit the U.S. for extended periods — especially during the winter — TD Bank is collaborating with Visa to enable debit push payments for easier cross-border funds movement.

Rather than jump headlong into a crowded P2P market, the team at startup ATCE Holdings instead saw a need to address the high costs of B2B payments — and singled out the agricultural industry as a good place to start.

To compete and remain relevant in 2020 and beyond, organizations must rapidly develop, test and deploy innovative new products and services in increasingly larger amounts, says Paragon Application Systems' Steve Gilde.

PNC Bank has made it more difficult for its customers to use Venmo, and although competition plays a role, the bigger issue is the expanding risks financial institutions face when sharing data with third parties.

U.K. all-in-one card firm Curve has launched an international no-fee transfer service called Curve Send that supports account-to-account remittances through its mobile app.

Tokyo-based credit card brand JCB faces a domestic battle to automate Japanese B2B payments that remain mired in old-school cash and paper, while it also tries to grow an international e-commerce network. It's a diverse set of challenges that have led the company to bring on a pair of technology partners.

The San Francisco-based Ripple, which launched in 2012, will use the funding to add personnel to its global organization and enrich its services that power payments using blockchain technology with its XRP platform.

Ant Financial, the online finance giant that operates Alipay, said veteran Simon Hu, 49, would become CEO. He will take over the role from Eric Jing, 47, who will remain executive chairman.

Facebook acquired a small video-shopping startup earlier this year to help build a live shopping feature inside the company’s Marketplace product, according to a person familiar with the plans.

Given the financial health and outlook for many retailers, their ability to get the digital experience right could be the difference between operating in 2021, or joining the growing list of retail bankruptcies, says Applause's Kristin Simonini.

The Federal Reserve is investigating the second significant disruption in 2019 of a payments service administered by the U.S. central bank.

The Federal Reserve is investigating what may have caused delays in the processing of ACH transactions that began late Wednesday and continued into Thursday morning.

Customers will be able to use the service by clicking on the QR transactions option and using their camera to scan the code that appears on the app screen.

For most companies, no role within accounts payable focuses solely on handling errors, enablement, fielding phone calls, or escheatment, says Nvoicepay's Kristin Cardinali.

Drones and autonomous vehicles are making progress, but there's still expense and logistical hurdles to work out, says Roadie's Marc Gorlin.

Payrailz, a payments startup launched that leverages AI to streamline bill payments and money transfers, will integrate its platform with Mastercard Bill Pay Exchange to explore ways to enhance the consumer bill payment experience.

The Federal Reserve’s Lael Brainard this week tossed fresh regulatory pressure on Facebook’s Libra cryptocurrency project, comments that come as central banks around the world work on digital currencies to counter the social network’s cryptocurrency project.