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New EU Card Rules Could Confuse Customers

PYMNTS

The European Union has issued new rules for contactless payments, which has caused confusion and forced one digital bank to issue new cards, according to a report in the Telegraph. The Strong Customer Authentication (SCA) regulations say a bank has to verify a person’s identity whenever they make a payment that totals 100 euros ($109.45).

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OCC Considers Artificial Intelligence an Emerging Risk in Banking

Perficient

This mitigates the risk of customer service representatives providing incorrect information and ensures compliance with regulatory disclosures, ultimately enhancing the overall customer experience while reducing costs.

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Payroll Cards Find Opportunity In Corporates’ Digitization Push

PYMNTS

With the pandemic nudging businesses further into the digital payments realm, commercial card innovation is heating up to capitalize on the opportunity for adoption. Boost Bolsters BMO Harris Bank’s Biz Cards. Global Cash Card’s Legal Saga Ends. ADP Eyes Payroll Card Adoption Jump.

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How Cannabis Can Become A B2B Payments Innovation Influencer

PYMNTS

The legal cannabis market’s financial services challenges are, by now, well-known. For several years, while state-level legalization has expanded, access to traditional banks remains an issue thanks to their status as federally regulated entities. Today, however, the banking challenge has largely been solved.

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Analysts Press For Corporate Payers, Banks And FinTechs To Collaborate

PYMNTS

From shifting use of various payment rails like ACH and cards, to deployment of FinTech technologies, to changing supplier payment habits, the report offers a glimpse at the current state of B2B payments – and where the industry may be headed. But how businesses reshape their payment practices varies. Payments Rails.

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The Corporate Card Faces New Hurdles In AP Departments

PYMNTS

Although commercial cards are evolving to gain traction in more B2B payment scenarios — particularly, accounts payable (AP) — new challenges emerge that can slow down the rate of adoption. Billtrust, REPAY Drive Virtual Card Adoption. Tat Capital Debuts Value-Add For Corporate Cards.

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Open banking APIs are open for business

Insights on Business

Open banking is a term that is associated with a broad set of initiatives that align to one of these three principles: Banking customers are empowered as the owners of their financial data. . Regulations, such as Payment Services Directive (PSD2), are forcing banks to “open up”, enabling customers to easily share data with third parties.

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