Payments

Fortunately, banks and financial institutions can take action to protect their apps in untrusted, potentially hostile environments, writes Samuel Bakken, senior product marketing manager for OneSpan.

Latin America’s fast-growing e-commerce industry is providing opportunities to provide payments gateways for cross-border transactions originating in countries that don't favor digital or credit card payments.

TransferMate, a cross-border B2B payments provider based in Ireland, has announced plans to buy Devisenwerk, a Swiss foreign exchange firm, to expand its capabilities and geographic reach.

The Global Payments Innovation service now moves 55 percent of Swift's cross-border transactions as it nears its second anniversary.

The bank’s efforts to show its ethical side may be “undone” by Malaysian scandal; airlines co-branded cards helping profits … for now.

Neither Amazon nor Starbucks could be described as a traditional retailer. But they both use their shared headquarters city as a playground for developing digital and in-store innovations that all merchants and payment companies will have to respond to the years ahead.

Lawrence Weinbach will replace David Nelms, who had already stepped down as CEO. The transition will take place Jan. 1.

The tech giants, along with Apple, PayPal and others, are calling on the Federal Reserve to build a backbone for real-time payments, rejecting large banks’ claims that the task is best left to the private sector.

PayPay, a mobile payments company backed by SoftBank Group Corp., Yahoo Japan Corp. and India’s largest digital-payments company Paytm, said it’s updating its app to strengthen security after multiple complaints from users of wrongful charges.

Beyond flashy and visible mobile-driven innovation and transaction options, many executives don’t see the need and opportunity that resides behind the scenes, according to Don Halliwell, director of marketing and communications at Zafin.

Gifting is becoming more international and diverse, leading to a role for a a distributed ledger to streamline the user experience and bolster incentive marketing.

If they don't have them in place already, financial services firms need to provide digital budgeting tools, mobile payment and banking services before young consumers flee to other providers, says Chris Koeneman, senior vice president of strategic solutions for MOBI.

Cross-border payment startups like TransferWise and Xoom achieved rapid market growth by enabling consumers in emerging markets to receive funds via mobile wallets, cutting out intermediaries. Now legacy remittance giants Western Union and MoneyGram are improving their own resources to send funds directly to recipients' mobile wallets.

Many banks and government officials are dubious about crypto, but Ohio Treasurer Josh Mandel lets businesses pay their taxes with it and has put all the state government’s expenses on a public ledger.

The video game industry serves a decidedly digital, tech-savvy audience with a propensity toward digital payments, but has been plagued by inconsistencies in payments to developers and a lack of a consistent rewards program for loyal players.

The financial industry is not expecting movement on a lot of legislation given a divided Congress, but one measure is beginning to attract widespread attention.

TransferGo will use the funding to fuel international expansion and increase market share particularly across Turkey, India, Ukraine and Russia.

Regulatory and demographic shifts have altered the path to credit for younger American consumers. Those shifts have opened up lending opportunities, particularly at the digital point of sale. Merchants, startups and financial institutions are all vying for a share of this (potentially very) lucrative business.

Mobile payments technology has fallen short of expectations in major markets, particularly the U.S., where less than 10 percent of consumers routinely use devices to pay in stores — despite more than four years of aggressive development from large technology companies and banks.

As the U.S. plays catch-up in contactless card adoption and biometric cards gain momentum, Mastercard senses an opportunity in the convergence.