Payments

PayPal, Square and other companies are building multipurpose apps that can access traditional bank accounts — or make them obsolete.

Railsbank and Plaid have formed a strategic partnership enabling any company in the U.K. to directly embed open banking-style payments into digital flows.

“If I see something that needs to be fixed, I tend to just gravitate toward it,” said Ratliff, U.S. Bank's head of disputes and prepaid operations.

PayPal saw account openings and payment volumes soar as the world shifted away from cash. And as economies reopen, PayPal must determine whether consumers will continue their aggressive use of digital payments — or return to their old habits.

The Federal Reserve said its regional banks should consider whether nontraditional financial companies meet the requirements of certain federal statutes and present “undue” risk to the financial system before granting access.

Western Union, the world’s largest money-transfer provider, will soon test banking products for its customers.

The digital transformation of payments has reached its next phase — with banks and fintechs leading the way. Avoiding the one-size-fits-all approach to deliver the experience customers want is key.

The pandemic spurred millions of merchants to add contactless payments within a year, pushing the number of global stores accepting contactless to 90%, according to new data from Mastercard.

First-quarter transaction volume rose 61% from a year earlier as merchants began using the bank-backed network to accept and make more payments.

First-quarter transaction volume rose 61% from a year earlier as merchants began using the bank-backed network to accept and make more payments.

More than a year into the pandemic, with the U.S. economy improving and consumers having paid down debt, bankers are finally loosening the reins in auto lending and credit cards.

The company hopes to someday return to 2019 levels of in-person money transfer activity, and its recent pact with Walmart is a big part of that strategy.

There is no doubt 2020 was a year of contactless transactions. But what implications do contactless payments present when it comes to security?

Payment facilitators give the power back to field service companies and allow them to run their business their own way, says WorkWave's Rick Agajanian.

The retailer's mobile app didn't allow sales staff to earn commissions. An arbitrator's ruling requires Macy's to update its app — and signals another complication in the shift to all-digital payments.

On Dec. 31, 2020. Dollars in thousands.

The debate over whether NFC or QR codes is the best technology to adopt persists. So far, there has been plenty of room for both.

While German consumers prefer using cash in stores and are accustomed to paying for products after delivery, the global nature of e-commerce is sparking a change in payment habits.

As businesses accept automation, more innovation is flowing into the market, says Billtrust's Flint Lane.

The debate over whether NFC or QR codes is the best technology to adopt still persists today. So far, there has been plenty of room for both.