Payments

FIS has added Walgreens as a rewards partner in Premium Payback, its payment card loyalty program for financial institutions using its banking services platform.

With face-to-face service altered, banks need to improve their data game to build new payment services, says Tealium's Heidi Bullock.

As merchants and consumers increasingly favor contactless payments over the course of the COVID-19 pandemic, Visa is removing obstacles to contactless acceptance.

Some U.S. states are opening new payments channels to cover the cost of coronavirus-induced remote learning programs.

The new policy will allow the company to close some work sites and reduce the size of others. It’s part of a broader effort to cut expenses to help offset revenue declines brought on by the coronavirus pandemic.

Mexican payments startup Klar has raised $15 million in a Series A round in an effort to challenge traditional banks by expanding access to debit cards and credit lines.

At a time when contactless payments via QR codes are on the rise, Incognia is launching a fraud protection solution for payments providers, retailers and restaurants.

Most organizations simply can’t afford slow processes that are riddled with bottlenecks, says Kofax's Michelle Trapani.

Daniel Wolfe, Editor-in-Chief of PaymentsSource, talks with Jay Klauminzer, CEO of Raise, to talk about how the company adapted to abrupt, long-term change in consumer payments.

Payments technology entrepreneur Will Graylin is launching OV Valet Superkey, a payment card and digital wallet that can initiate touchless payments at more than 90% of all payment terminals. It pairs with an app that supports messaging and live chat functions.

Alipay’s assembling a portfolio to stitch together a multinational financial services ecosystem. The mobile payments titan’s IPO will provide an enormous war chest to develop new services, turbocharge international expansion, and fund acquisitions, says Intrepid Ventures' Eric Grover.

MagicCube’s i-Accept is a hardware-free option for accepting card and electronic payments that could appeal to cost-conscious small businesses and open up a new market for banks that provide them payments services.

Visa on Monday made an investment in Global Processing Services, which powers the payment rails for several challenger banks and fintechs. It's similar to a January investment Mastercard made in Marqeta, an open API card issuing and processing platform.

Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.

Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.

Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.

Synthetic data represents a direct one-to-one transformation of the original data that reveals true insights into consumer spending, says Facteus' Lorn Davis.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

In too many places, identity verification and other vetting is still done manually, says Signicat's John Erik Setsaas.