Payments

Susan French, head of product at BBVA Open Platform, discussed the bank's vetting of fintech partners and how it deals with the competitive threat that their products present.

Banks and merchants can already access solutions that can provide a real-time experience and process payments on the best set of rails for any particular use case, says BillGo's Kelly Seidl.

Canada is often at the forefront of payments innovation, with active fintech hubs and a national initiative to restructure the country’s transaction system for e-commerce. Yet outdated attitudes about identity risk linger, showing how hard it will be to achieve global digital ID at scale.

Facebook's Libra cryptocurrency project has lost its first major ally. PayPal — where the head of Facebook's Libra project once served as president — has cut its ties. As a founding member, PayPal was expected to drive the payment-specific part of the cryptocurrency initiative.

PayPal’s cross-border remittance unit Xoom is hoping to build a faster payments market in South Korea by enabling direct delivery into bank accounts, a channel that tends to be more expensive than other options.

German payments processor and technology provider Wirecard is launching new money transfer capabilities for users of the Viber instant messaging application.

Demand for a user-friendly way to shop and pay for tailored products requires action from those that want to stay ahead of the digital curve, says KBMax's Kris Goldhair.

Frustrated after being overlooked by mainstream financial institutions, organizers of the proposed Pagan Federal Credit Union are hoping to be chartered by the end of the year.

Transit systems want to use contactless and open payment systems to address ridership declines, an innovative strategy that nonetheless is riddled with pain points due to how transit has traditionally modernized.

Instagram understands it’s not just about giving users what they want, but also when they want to see it.

Samsung Pay users can use the app to send funds across borders to recipients with a bank account through a new service powered by Travelex.

The card networks are taking blockchain seriously as a means of streamlining cross-border B2B payments. But while they share a vision, they are taking different paths to this goal. Visa has opted for a closed network that it controls, while Mastercard envisages a wider, more open ecosystem.

Payoneer found its niche providing technology for Amazon, Google and Facebook to deliver mass payouts to independent contractors, but the company has added options for small U.S. businesses to send payments to vendors and suppliers globally.

Good customer service, layered with new technology, gives community banks an advantage over big banks.

The key is that FedNow will provide speed, equal access and an infrastructure that enables the private sector to build cross-platform solutions, says BillGo's Kelly Seidl.

Facebook is not the only global megabrand tied to the Libra cryptocurrency project, and with a steady drip of rumors about the partners bailing, pressure on Facebook is rising while partners weigh missing out on the initiative’s addressable market.

Rep. Denver Riggleman, R-Va., explains why he’s introduced legislation requiring greater transparency over the Federal Reserve’s incoming payment system.

Recent reports that counterfeit card fraud is markedly down in the U.S. since the introduction of EMV chip cards in 2015 is fantastic news, except for retailers that also sell goods sells online. In that case fraud has merely moved from an in-store payment attempt to a card not present (CNP) one. For e-commerce only stores the rise in payments fraud attempts has been a deluge.

Some bank customers would consider switching banks for the status of having a metal card in their wallet. Others are willing to compromise by converting their cards to metal on their own.

Governments use varying methods for tracking the flow of money in and out of the country in order to deter fraud and money laundering, writes Nvoicepay's Alyssa Callahan.