Payments

Analytical technology will be key for firms looking to appeal to the next generation of customers. Having come of age in the midst of the 2008 financial crisis, secure personal finance is extremely important to this generation, says Axis Communications' Stephen Joseph.

Amid the worldwide coronavirus crisis, making cross-border payments to emerging markets has been akin to putting together a jigsaw puzzle without many of its pieces.

Admitting it "may be professional suicide" to take the reins in the midst of a global health crisis, Brady Harris says his role atop Dwolla's management chain will be "a real test of my leadership abilities."

ISO 20022 allows banks to generate greater amounts of standardized data to provide targeted insight, says Icon Solutions' Lauren Jones.

A coronavirus-spurred slowdown in travel and restaurant spending has credit card issuers reworking their offerings.

Payments infrastructure integrations create the backbone for front-of-house retail, back-of-house inventory, supply chain, and warehousing, says Global Payments' Frank T. Young.

Interchange fees are a major part of the costs merchants pay to accept payment cards. While merchants seek relief from fees during a time in which their businesses face serious damage from stay-at-home edicts because of coronavirus, the credit card companies and banks quickly began to dig in their heels.

While the $2 trillion stimulus package just signed into law provides enhanced unemployment benefits, it is little solace to those out of work with dim prospects of their jobs returning to normal anytime soon.

While much of the world is sheltering at home to deter the spread of coronavirus, there's still a need for essential workers to travel — and an opportunity for the development of in-car payments technology, which could allow consumers to pay for gas or food without handling cash or other potentially infected surfaces.

With access to comprehensive and accurate financial data delivered through advanced APIs, financial services providers no longer have to develop personalized experiences themselves, argues Envestnet's Brandon Rembe.

Japanese digital wallet provider Kyash has raised $45 million in a fundraiser to expand its mobile offerings to help Japan convert to a cashless society during the coronavirus outbreak.

Siam Commercial Bank is partnering with Ripple to provide instant cross-border payments for small and medium size enterprises (SMEs).

The trend toward cashless is inevitable, and could be accelerated by current events. But a gradual transition is key to avoid alienating those people who depend on cash as their primary payment method.

With coronavirus driving more merchants to promote electronic payments over cash — and contactless payments over cards — many are still asking their customers to share a potentially virus-laden pen to sign a receipt or screen at the point of sale.

The newly minted Transact Bank will provide payment processing and card issuing services to a wide range of clients.

New features and improvements often take a back seat to security, says Entersekt's Claudius van der Meulen.

The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship.

The company once again lowered its outlook for quarterly revenue growth, saying the coronavirus pandemic has led to a sharp decline in cardholders’ overseas spending.

With coronavirus presenting significant challenges for retailers and the technical challenges of imposing interchange fee changes in the networks, Visa, Mastercard, American Express and Discover are holding off on the updates.

Just more than a month since its founder and CEO Ben Milne announced he was stepping down, payments technology provider Dwolla has named industry veteran Brady Harris as its new CEO.