Payments

Earlier this week, the e-commerce payments giant announced a $400 million deal to acquire Hyperwallet and its payment distribution technology. The deal for Palo Alto-based Simility takes aim at a different need: applying machine learning to its data collection to prevent various types of fraud.

The quest for fast payments is advancing on the consumer side, but most banks are said to be undecided about a host of issues tied to speeding up transactions between businesses.

Malware operators are joining forces, installing each others’ tools on compromised computers to target a wider range of victims, and possibly also sharing the work of harvesting funds using stolen account details.

In the evolution of mobile wallets, many companies have toyed with the idea that rewards would be a key driver for adoption. Others insist the improvements in speed and convenience are compelling enough on their own. Apple has parlayed both concepts into its promotions.

CRM solutions have proved useful in providing a technological infrastructure for gathering data on a customer, but they are just that—an infrastructure. The larger difficulty is often managing the content and messaging that goes through the CRM pipeline, according to Patrick Kehoe, executive vice president of Messagepoint.

U.K.-based fintech Revolut has entered the Russian payments market through a partnership with Russian payments firm Qiwi, and announced plans to apply for a U.S. banking license.

The Australian state of Queensland has selected Cubic Corp. of San Diego to develop a mass-transit ticketing system that will support contactless payments and real-time rider account information for public transportation in the region surrounding Brisbane.

PayPal is spending billions on M&A to throttle the heightened competition it faces from the likes of Square and Stripe.

The online lender wants to provide instant payments and securitizations alongside instant loans, according to CEO Anthony Noto.

Mobile and digital technology are expanding use cases for reloadable prepaid cards beyond their heritage as a tool primarily for the unbanked consumers. Furthermore, mobile commerce is driving broader acceptance of digital versions of both prepaid and retail gift cards.

The move from standard to real-time transactions adds another layer of complexity and creates further opportunities for fraudsters. Quicker transaction times increase the chances of fraudulent transactions going undetected, writes David Worthington, vice president of payments at Rambus.

Paysafe Group has introduced a cash-based online payment mechanism for people who don’t have bank accounts or don’t use cards online due to security concerns. The U.K.-based payments services provider is also expanding its presence in the U.S.

PayPal can combine its payment service, Braintree and Hyperwallet for a variety of use cases for online marketplaces and gig economy workers.

Nets will bring its payments technology reach into Poland through its $85 million acquisition of Dotpay/eCard.

Rather than focus on credit history, San Francisco-based Brex Inc. looks at funding raised in order to issue cards to companies and employees to cover startup expenses.

Payment processors have increasingly become full-service providers from equipment to security measures and, most recently, some mobile and omnichannel options.

Scan-and-go payments and other mobile technology can redirect store resources toward more personal service to keep consumers in stores, according to Julian Wallis, retail director at Rambus.

London-based TransferWise's business model has been to undercut traditional banks’ foreign transfer fees, and the company's marketing has long emphasized its role as a plucky rival to banks — going so far as to invoke a comparison to Robin Hood. But the company's offering can also benefit the banks that see value in making peace with an upstart.

Paytm, one of India’s most widely used mobile wallets, has added TV and games in an effort to keep users' eyes on its app as long as possible.

Western companies desperately want a chunk of China's vast domestic consumer payments market, though they may find themselves feeling lucky to be left out.