Payments

The large core banking software vendors are already criticized as large and slow-moving. Consolidations like these are only likely to make them more so.

As the e-commerce payments ecosystem rapidly changes, banks have to find a way to be part of that landscape. This is especially valuable to banks whose customers shop online and could benefit from a loan.

The large core banking software vendors are already criticized as large and slow-moving. Consolidations like these are only likely to make them more so.

The numbers behind Fiserv's deal to acquire First Data are huge, particularly considering each company's existing tonnage still makes consolidation the best play when faced with nimble fintechs and mobile startups.

Some in the industry worry the Fed may balk at allowing OCC charter recipients into the payments system, but Otting downplayed those concerns.

The company owning brands such as Kay Jewelers and Jared the Galleria of Jewelry will pay $11 million under a settlement with the consumer bureau and New York's attorney general.

Local payment methods cater to the technology and user-experience needs of specific regions, says Steve Villegas, vice president of partner management at PPRO.

To stay ahead of the rapid development of payment applications, the Payment Card Industry Security Standards Council is making new software security standards and a validation program for vendors available later this year.

The Federal Reserve has suggested it could join the market for instant interbank payments, but private-sector entrants would be better.

Credit unions and smaller banks can differentiate themselves by returning to the passion for personal service that first anchored their success, and payments are central to this strategy, according to Deborah Matthews Phillips, managing director of payment strategy at Jack Henry.

Just a few years ago, tech companies imagined a world where Bluetooth beacons would push alerts to consumers' smartphones as they walked by a store or navigated its aisles. The tech isn't gone, but it's become more subtle in how it's being used.

Caper is expanding its AI-powered shopping cart nationally as Amazon looks to build a network of up to 3,000 cashierless Amazon Go stores.

Although most consumer-facing financial institutions now offer mobile applications, that doesn’t mean that they are ready for a world where smartphones are the primary point of contact with their customers, writes Rune Sorensen, a product manager at Nets.

Its mobile banking app comes with bank accounts, merchant accounts, and instant credit on invoices. Behind it is a network of community banks that will gather the deposits the app brings in.

CEO Michael Corbat will need to lean heavily on credit cards and other consumer business lines, and keep driving down costs, to offset weaknesses in capital markets.

One of the few bright spots in Ingenico’s sagging revenue performance last year was double-digit growth within its global e-commerce unit, where it’s been experimenting with chatbots.

India’s ICICI Bank is rolling out a loyalty program for consumers who regularly send remittances to India via the bank’s Money2India online platform and app.

A tool used by technical analysts called the GTI VERA Convergence Divergence Indicator that detects trend reversals is flashing a sell signal for ether, with the longest buying trend since October ending for the third-biggest digital currency. The shift could foreshadow a negative turn for bitcoin, which is close to a trend reversal as well.

The U.S. online lender provides credit lines of up to $150,000 to small businesses that shop at Alibaba.com.

As the payment industry continues to innovate and expand across borders, it increasingly will need to be mindful of data regulations requiring data localization that multiply the complexities and cost of creating a seamless data flow and user experience, Alston & Bird’s Richard Willis and Laura K. Song write.