Payments

Decentralizing staff makes strong internal controls even more important, Josh Cyphers and Derek Halpern of Nvoicepay write.

James Freis took charge of Wirecard AG on Friday and the question he faces on Monday is what, if anything, he will be able to salvage of the payment company.

Big banks will need to show how well they can withstand three different scenarios before they can pay dividends; the German payments company is still looking for $2 billion of missing funds.

Consumers are parking their funds at financial institutions as lending slows and interest rates remain near zero, making it difficult for credit unions to deploy these deposits.

China has a huge market and entrenched payment firms, but a record of digital adoption that makes it a prime market, says PPRO's Steve Villegas.

The Biblical narrative of the Tower of Babel was meant to explain why people throughout the world speak different languages, but in the modern-day payments version it apparently applies to the complex and problem-ridden transaction chargeback process.

The coronavirus has spawned a fear over handling cash, creating a problem for the common practice at restaurants of using a card to pay while leaving cash for the tip. Given the challenges and restrictions tied to reopening, it's a conundrum eateries can ill afford.

Though mobile payments adoption hasn’t surged like contactless cards as consumers look for ways to minimize coronavirus spread, U.S. Bank is ditching plastic completely with its newest corporate card.

Loan forbearances are wreaking havoc with firms that normally clean up during recessions; the Fed’s latest rescue plan is off to a rocky start as few banks show interest in making the loans.

The move to digital providers could mean cheaper cash transfers for a demographic that has been hard hit by this pandemic, with both senders and receivers being financially affected.

Fully decentralized digital currencies have far greater protection against total mismanagement and corruption of capital. Blockchain technology makes it practical for even state-controlled blockchains to make inflationary measures fair, says Nash's Fabio Canesin.

By adding direct debit from bank accounts as a payment option, YayPay feels it is in a far better position to help the accounts receivable departments of U.S. businesses expand international growth.

Firms won’t have to repay their loans even if they don’t rehire all their laid off workers; Fed chair confirms the shortage is due to the coronavirus but is easing as the economy reopen.

E-commerce sales boomed during the height of the coronavirus when consumers were stuck at home, and merchants had no choice but to accommodate the surge. But some retail industry observers are concerned about potential long-term costs from the pandemic.

Through employee education and deploying tools that allow you to rapidly thwart threats internally and externally, you can reduce the risk of payments fraud and gain greater peace of mind, says Fleetcor's Scott duFour.

At a congressional hearing, Fed Chairman Jerome Powell discussed steps to get the flow of coins to financial institutions back to pre-pandemic levels, as well as ways to ease other industry burdens.

Remitly and TransferWise are benefiting from consumers' shift to digital payments and a turn toward banking services as global remittance volumes drop.

Traditional U.K. businesses found innovative ways to serve their customers under coronavirus restrictions. Iconic London black taxi cabs, independent local community pharmacies, old-fashioned pubs, and QSRs have turned to in-app mobile payments to enable their businesses to carry on.

India’s antitrust watchdog is reviewing Facebook Inc.’s purchase of a 10% stake in Reliance Industries Ltd.’s digital assets, a deal that would give the U.S. giant another foothold in one of the world’s fastest growing internet markets.

Merchants prevailed in a long-running legal battle with Visa and Mastercard in the U.K. over whether interchange fees the payment card networks charged for years in Britain were anticompetitive, which could increase scrutiny on U.S. card interchange rates.