Payments

For many banks, especially midtier institutions, payments isn’t a core business — and their batch processing-based legacy systems weren’t designed to deliver real-time payments.

The bank is considering eliminating as many as 20,000 jobs; BIS doesn’t want central banks to fall behind private cybercurrency efforts.

By turning compatibility into a nonissue, APIs help enable open banking, which has the potential to offer core banking services such as payment initiation or account balances through APIs, writes JPMorgan Chase's Stephen Markwell.

Most large banks have declared their strategies for adopting contactless cards, but the rank and file of FIS’ midsize and smaller issuers are still weighing their options about when to flip the switch.

From regulatory reform to natural disasters and more, here's a look at Credit Union Journal's special report on what to expect for the second half of the year.

Wirecard’s platform for delivering corporate disbursements is expanding to the Philippines.

Naval Group, an international technology company specializing in naval defense systems, is among the first to complete a cross-border payment through Swift's global payments innovation early adopter program.

CEO David Solomon said that Goldman is “absolutely’’ looking at digital currencies and conducting “extensive research’’ on tokenization.

A court decision brings much needed clarity to the complex world of money transmitter licensing by holding that the transmission of information alone is not engaging in the business of money transmission under Pennsylvania law, writes Anita Boomstein, a partner with Manatt, Phelps & Phillips, LLP.

The millions of people displaced by war, famine and other hardships face distinct challenges and dangers when accessing and using money, and these pain points are being addressed by a blockchain-powered payment app that is part of Western Union's accelerator program.

H&M will enable Klarna as a payment option in its 580 U.S. stores beginning this fall, building on a partnership the two Swedish companies established last year.

As blockchain use cases grow, retailers are seeing more reasons to use the distributed ledger technology for payments.

Visa’s chief economist recently warned that fintechs are disintermediating banks’ credit card businesses with instant access to installment loans. Now Visa is looking to disrupt the fintechs by giving issuers a way to do the same.

Many businesses mistakenly see alternative payment methods as only for consumers, but there are use cases for B2B, argues Pat Bermingham, CEO of Adflex.

By creating a close tie between digital debit cards and the major third-party mobile wallets, Bank of America is doing something few banks are — and expecting a payoff in broader use of digital financial services and “top of wallet” spending.

Denmark-based payments technology developer Nets will develop new solutions for Vipps, Norway’s leading mobile payment app, under a new agreement.

Apple Card's user experience will pressure contactless and digital wallet innovation, an area where banks have already fallen behind, contends MyGini's Mehmet Sezgin.

Offering secured credit cards can help a credit union build loyalty with members but this product line can be difficult to successfully manage.

As the global gig economy expands, more workers moving between the U.S. and other countries for jobs or school need ways to handle funds in different currencies.

The pressure on banks, financial institutions and payment service providers to act as effective gatekeepers in the fight against financial crime is intense. Real-time payments considerably complicates that challenge, writes Sophie Lagouanelle, head of solutions at Accuity.