Payments

Subscribing to simplification at the expense of nuance is hugely counter-productive, and will alienate both existing and potential customers, writes Elina Mattila, executive director at Mobey Forum.

The bank's $17 billion investment in growth businesses is not seen as a game changer; Synchrony working with retail partners to make credit decisions on the fly.

Royal Bank of Canada is one of three Canadian banks with a presence in the Caribbean, and is deploying contactless card readers throughout the region to ride a wave of digital payment adoption.

Cross-border payments firm Payoneer is seeing growth in Asia from local marketplaces, digital platforms, and merchants selling internationally. It is also benefiting from a rise in payments from India to foreign marketplaces and contractors.

Merchants that want to use technology to boost sales can establish in-house systems labs to test new payment technology and apps, or find an external lab to do so.

New Jersey’s commuter rail and bus system is joining the movement to add contactless payment options for commuters, which observers say could spark broader adoption of mobile payments across the U.S.

Wells Fargo & Co. customers hoping to use their credit cards to buy Bitcoin will have to look elsewhere.

Since addresses are recorded in the blockchain, it is possible to trace each transaction where the address was used, which aids in AML, according to Ron Teicher, CEO of EverCompliant.

Mastercard's Cardless ATM service, developed with Diebold Nixdorf, resembles the technology many banks have adopted in the last few years — but Mastercard's offering sheds the limitation of being tied to a specific bank's ATMs.

The deal could be harmful to their bottom line because it will provide Amazon with more visibility into an even wider percentage of their e-commerce data, writes Ralph Dangelmaier, CEO of BlueSnap.

Two factions that have taken on the card networks on separate fronts are combining their might in the latest effort to pressure Visa and Mastercard. Even so, there is not a lot of reason for the credit card brands to change their methods.

Payroll needs can be tricky — especially on the open seas, where cruise staffers often have to go through several expensive steps to cash out their paychecks.

Facebook, Apple, Amazon, Netflix and Google garner so much attention that they have their own collective shorthand, FAANG. But it was a mostly different set of companies, including Starbucks and Acorns, that were top of mind this week for their financial services moves.

The cashierless Amazon Go store is barely more than an experiment — it's live in only one location in Seattle, with plans for a handful of stores to follow this year — but it has already sparked a race to put similar models in place.

Redwood CU's home-grown pay-by-text solution won a prestigious award recently, but the credit union is already looking at ways to build even more functionality into it.

With increasing numbers of alternative providers gaining licenses to provide payment services aimed specifically at businesses, Beck predicts the pressure on the banks to offer faster and cheaper services is going to substantially increase.

While the 'buy button' is designed to benefit merchants, issuers and the card networks alike, merchants may not be willing to risk any tradeoff in their access to customer data.

Consumers using Paysafe's prepaid cards can now make online purchases in the Google Play store as part of a partnership with Google.

Comdata has been processing corporate payments for almost 50 years, paying truck drivers through a proprietary fuel card network. But its next chapter could be its toughest.

The Patriot Act, for example, requires all U.S. businesses to comply with regulations issued by the Office of Foreign Assets Control. Those that fail to comply, knowingly or inadvertently, are susceptible to significant fines and even legal action, writes Peter Shore, general manager of Transpay.