Payments

The mobile point of sale market has grown far beyond its roots as an off-the-shelf dongle for smartphones. The category is now driving major acquisitions, collaborations and international deployments.

Payconiq has built an omnichannel, multicountry payment platform that uses a mobile payment app to leverage existing bank infrastructure in order to make payments in-store and online payments as well as to send P2P payments.

Banks and third parties must work together to safeguard data being shared when a customer uses mobile apps.

The number of transactions to send money across borders has risen for 36 consecutive months, but this could eventually slow.

The P2P service, based on the time its users spend with it, has the capability of luring users into other services attached to Venmo.

The brokerage expects customers will use conversational tech to check accounts and perform other financial transactions while stuck in traffic.

Accounts that offer high interest rates can bolster fee income and lower noninterest expenses, though credit unions have to carefully watch these products to ensure they actually make money.

Calling it the largest B2B trading platform in the world, Alibaba Group has opened Alibaba.com to small and medium-size U.S. businesses to reach an addressable market of $23.9 trillion.

Starbucks is looking to reclaim its role as the global leader in streamlined, intuitive order-and-pay systems through machine learning technology it’s developing in-house and through a deal with restaurant-tech startup Brightloom, its new equity investment partner.

Russia and its BRICS partners are developing cross-border alternatives to U.S.-dominated payments systems such as Swift, driven by the rise in cross-border trade and a desire to find non-dollar alternatives to international payments systems vulnerable to sanctions by the U.S. government.