Payments

After two years of helping banks connect globally to domestic faster payments rails, Swift is planning to expand on that concept.

The Trump administration has barred the use of TikTok and WeChat inside the U.S., including a direct ban on WeChat Pay, setting up potential retaliation against U.S. companies that could interrupt international payment flows.

The humble QR code — invented for automobile manufacturing in 1994 — had been on the rise as a payment method for many years, but the pandemic expanded its use in the U.S. in some unforeseen ways.

In countries where the use of cards is less prevalent, other digital payment methods, particularly mobile wallets, are proliferating, changing the payments landscape rapidly and radically, says Standard Chartered's Tarek Elyafi.

Ant Group was dealt another blow by more regulations to contain risks in the country’s burgeoning online lending industry as Jack Ma’s financial technology giant prepares for its initial public offering.

After two years of helping banks connect globally to domestic faster payments rails, Swift is planning to expand on that concept.

In the face of the current pandemic, what was a growing trend became a necessity for many businesses as shelter-in-place orders changed how they operate day to day, says OnPay's Katelyn Sullivan.

Even before the COVID-19 pandemic forced retailers and consumers alike to consider the benefits of shopping via a mobile app, providers of shopping and loyalty apps were seeking partnerships with security vendors to deploy fraud prevention technology.

Apple's legal dispute with Epic Games, the publisher of Fortnite, has exposed a potential nuclear option that the Cupertino, Calif.-based tech giant can use against any company that sells online.

Besides providing a safe, sanitary no-touch payment option for consumers, there are other advantages to contactless payments, such as line-busting, says Todd Barstow, vice president of payment solutions for GK Software USA.