Payments

Entry of Alipay and WeChat Pay into the U.S. market will spur banks to innovate, according to Sarabjit "Ruby" Walia, executive vice president and head of digital retail banking and wealth management at HSBC

China’s e-commerce giant Alibaba Group is partnering with Saxo Payments Banking Circle, a European B2B payments platform specializing in online cross-border transfers.

Contactless payments are a big success story in most countries around the world—including developing markets—but not in the U.S.

With increased scalability, more and more consumer products can be verified and monitored every second, writes Vlad Trifa, chief product officer at Ambrosus.

John Thomas, head of U.S. payments and data strategy at TD Bank, says banks are approaching innovation the wrong way.

Even among the experts in the payments industry, people still use cash. Banks can't ignore this, according to Paul Amisano, senior vice president for enterprise digital and payments strategy at BB&T.

The Merchant Customer Exchange may not have succeeded, but there is still value to the concept that drove the retailer-driven wallet, according to Brian Crist, chief payments counsel at Uber.

Stripe has just closed a $245 million funding round that ups its value from $9 billion to $20 billion, said co-founder and Chief Executive Officer Patrick Collison. Several large new customers have also been listed on Stripe's website this week, including Alphabet Inc.’s Google and Uber Technologies Inc.

Western Union plans to begin soliciting potential suitors within weeks. No decision has been made and Western Union may decide to keep the business.

Employees are typically a company’s first line of defense when it comes to most threats. As such, it is important to train them on how to identify cloud cryptojacking attacks, according to Anurag Kahol, CTO of Bitglass.

New York- and Tel Aviv-based Behalf provides point-of-sale financing for SMEs making e-commerce purchases from large merchants. Visa will offer Behalf’s SME clients reusable, tokenized Visa virtual cards which give businesses instant loans for their purchases and flexible repayment schedules.

Wells Fargo exec Michelle Ziolkowski was fed up with writing checks, but her piano teacher didn't want to go digital. So Ziolkowski started tracking her check-cashing behavior.

Merchants increasingly fall short of security standards as digital commerce innovation pressures risk management.

As the major banks grapple with the slow and steady implementation of The Clearing House’s Real Time Payments (RTP) system, one organization, Ingo Money, is forging ahead in delivering faster payments for its clients and their customers using the card networks’ push payments rail.

Large retailers want the right to reject rewards cards at the point of sale to avoid higher swipe fees; Germany's financial regulator appoints an auditor to monitor the Deutsche Bank's progress.

Zelle doesn't require a bank or credit union to participate in its network to allow it to receive funds; so even Zelle holdouts will see some activity on their accounts. This allows credit unions to compare members' demand to usage, and to determine whether signing up with Zelle is worth the trade-offs.

An examination of industry sales tactics conducted after the Wells Fargo scandal found that credit card accounts (not checking or savings) were the largest source of account openings without customer permission.

European banks are testing rings, watches and bracelets that are linked to credit and debit accounts; European regulators appear keener on increasing competition than U.S. counterparts.

Leslie Godridge is pushing U.S. Bancorp to the cutting edge in corporate payments, including helping lead the roll out of a real-time payments platform.

Avid Modjtabai is drawing on a quarter-century of experience leading a broad range of business lines to accelerate innovation at Wells Fargo.