Payments

There are important considerations for financial institutions to bear in mind as they build relationships with the likes of Apple and Google.

Apple Card's advantages are mostly available elsewhere, but Apple's marketing prowess will make it a formidable competitor, according to Jonathan Ebinger, a general partner at Blue Run Ventures.

Payments platform BizPayO is launching an online cash flow tool it says will help small and medium-size business owners tackle what amounts to a $3 trillion late-payment problem annually that undermines operations.

The venture capital firm New Enterprise Associates has led a $200 million funding round in Divvy, a business payments and expense management platform provider.

While a majority of business payments are still made by checks, faster payments and increased cash flows will pressure a move to digital options, contends UMB's Brian Hutchin.

Digital payments can make payroll for workers in industries like cruise ships less costly, and less dangerous than traditional cash-based methods, writes Hal Ramakers, vice president of global solutions for Brightwell.

Banks need to ensure those building new business are driven to look for evidence of illegal activity.

Paytronix has spent the last few years developing a streamlined enrollment process for restaurants’ loyalty programs, but it relies on something relatively few consumers use: Apple Pay and Google Pay at the point of sale.

Visa Inc. and Mastercard Inc. ended nearly two decades of European Union antitrust scrutiny with a pact that requires them to reduce fees for foreigners shopping in the region.

Because the cost of cross-border payments can substantially bite into profit margins for travel agencies, payments technology provider Ixaris and financial service infrastructure developers Banking Circle are partnering to eliminate that expense with virtual bank account numbers.