Payments

In a major break from the Payment Card Industry security standards playbook, merchants and service providers using newer technologies would have the opportunity to rewrite network operation and testing procedures when achieving compliance.

Reflecting the rapid transition to digital payments, PayPal has reported its strongest growth in total payment volume and revenue in its history, coupled with strong growth for Venmo, its P2P app.

The person-to-person network is being used more often for purchasing, with consumer payments to small businesses up sharply.

Businesses are looking for banks to help them shed paper and automate transactions, says FISPAN's Clayton Weir.

Mastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants.

MoneyGram's digital offerings are attracting different types of consumers into the company fold, CEO Alex Holmes said during the third-quarter earnings call.

Though the COVID-19 pandemic continues to stifle economic growth globally, Western Union again pointed to its fast-growing digital services as key to keeping the company on a positive trend.

The challenger bank now offers small businesses checking, lending and payments services on one platform and can link them through Plaid to external bank accounts.

Renaud Laplanche's fintech will give borrowers cash back when they lower their loan balances.

After selling the rights to its Ethereum-based technology, the bank is rebranding a venture related to cross-border payments and creating a new umbrella group to oversee all blockchain-related efforts.