Payments

Speculation has been in the air about whether TSYS—one of the last large legacy processors—may be next in a big M&A deal after the pairings of FIS-Worldpay and Fiserv-First Data were announced this year.

Among his many responsibilities in the newly created role, Brian Doubles will be in charge of expanding Synchrony's direct-to-consumer banking business.

British bank NatWest will launch a merchant acquiring service to attract small and midsize businesses in the U.K. and other countries.

Apple is addressing consumer demands and pain points head-on, with the overall goal of making consumers’ lives easier, argues Jeff Bender, vice president of digital solutions for Diebold Nixdorf.

Transferrable dynamic authentication is something almost everyone wants but still seems just out of reach. Experian says there are a couple of places where that problem can be solved, adding it’s time to realize that even digital-age ID rules no longer work.

Visa and Mastercard are driving digital transactions by financially empowering women in emerging markets who are unbanked but manage their families’ spending. The card networks are particularly targeting women in gig economy jobs and women-owned businesses.

By using one anonymous, streamlined platform, it is easy to conduct B2B commerce anywhere while keeping transactions digital, allowing both parties to connect without leading to fragmentation within the market, writes Derek Wall, founder, CEO and CTO of HUBX.

Here are seven startups that received multimillion-dollar venture capital investments in recent weeks to accelerate the development of banking products and services.

In the wake of Zelle, Venmo and Apple Cash getting more active users and potential revenue, Square is relying on its Square Cash App and Cash Card as key drivers for its own growth.

To fuel growth, Apple's mobile wallet needs to go beyond its core use cases of NFC and in-app payments. Apple Pay's latest project leans more heavily on NFC to do work typically handled by apps.

Martin Chavez, global co-head of the securities division at Goldman, suggested the bank is unlikely to fully support crypto until such currencies have the backing of the U.S. government.

E-money provider Prepaid Financial Services has partnered with Garmin International for its digital prepaid cards to operate in the U.K. on compatible Garmin Pay smartwatches.

There are important considerations for financial institutions to bear in mind as they build relationships with the likes of Apple and Google.

While the payment volume from smart wearable devices may not have achieved the initial euphoric predictions, things are about to change for the better as several market dynamics have shifted.

Apple Card's advantages are mostly available elsewhere, but Apple's marketing prowess will make it a formidable competitor, according to Jonathan Ebinger, a general partner at Blue Run Ventures.

Payments platform BizPayO is launching an online cash flow tool it says will help small and medium-size business owners tackle what amounts to a $3 trillion late-payment problem annually that undermines operations.

Apple is relying on transportation systems across the globe to drive Apple Pay's usage.

The venture capital firm New Enterprise Associates has led a $200 million funding round in Divvy, a business payments and expense management platform provider.

While a majority of business payments are still made by checks, faster payments and increased cash flows will pressure a move to digital options, contends UMB's Brian Hutchin.

Digital payments can make payroll for workers in industries like cruise ships less costly, and less dangerous than traditional cash-based methods, writes Hal Ramakers, vice president of global solutions for Brightwell.