PYMNTS

JANUARY 14, 2021

The process of B2B procurement between diamond vendors and jewelry retailers is often stuck on legacy processes like phone calls, emails and paper check payments, creating the same kinds of bottlenecks and inefficiencies that plague other markets. B2B eCommerce operations, dubbed Jewel Fleet.

Industry 204

Industry Strategy Retail Trends 204

PYMNTS

AUGUST 9, 2019

Yet this was compliance-ready, not operationally ready. Additionally, they see potentially 25 to 30 percent of transactions being declined in the short term unless a compliance timeline is agreed upon. . Retailers were excluded from PSD2 completely,” Robinson said. 14 deadline. What Are the Issues?

Compliance 152

Compliance Regulation User Experience Retail 152

PYMNTS

JANUARY 28, 2019

Will the ban on the credit card surcharge automatically lead to significantly higher prices when consumers opt for the plastic (via card or digital wallets) at the pump, at the counter … or pretty much anywhere? In New York this month, credit card surcharges got the okay. Maybe, maybe not. As Webster recounted Monday (Jan.

Cards 125

Cards New York Oklahoma Connecticut 125

PYMNTS

NOVEMBER 13, 2020

Managing inventory, B2B payments and a plethora of food and beverage vendors can be a headache for any kind of restaurant, bar or retailer. Retailers that sell alcohol must be able to understand exactly which products they have in stock, and which products are generating the most revenue for the business.

Industry 219

Industry Payments Retail Regulation 219

PYMNTS

OCTOBER 1, 2019

It’s not hard to find experts who predict that, even with the new date, gas stations will fail to comply with the deadline, which is set by card networks. Before getting into that, though, it pays to understand what’s going on with the EMV deadline in this specific area of retail to get a good sense of context.

Innovation 167

Innovation Customer Experience Retail Operations 167

PYMNTS

MAY 2, 2017

Credit card fraud is a fact that will likely continue to plague retailers for the foreseeable future. It’s on the rise in the eCommerce arena, according to data released from omnichannel commerce technology and operations company Radial’s eCommerce Fraud Technology Lab. What happened was exactly what was expected.

Fraud 150

Fraud Data Cards Retail 150

FICO

FEBRUARY 12, 2018

For all the talk in the UK about disruptors and fintechs and new entrants to the credit market, and about how banks and card issuers need to manage customers in arrears, there’s one group that seems strangely absent from this focus: retailers. It is estimated over £200 billion of UK household debt is in unsecured retail credit.

Retail 63

Retail Management Analytics Compliance 63

PYMNTS

NOVEMBER 11, 2019

System integration provider NEC XON is also looking into biometric KYC for mobile network operators and financial institutions (FIs). Retail brokerage company Exness recently adopted such solutions from provider Sum&Substance to help the former manage compliance for its two entities.

Video 161

Video Fraud Compliance Security 161

PYMNTS

APRIL 16, 2018

According to the publication, Flowhub will provide compliance, regulatory and reporting support for cannabis companies. Flowhub’s compliance software will be integrated into that system. Our retail solutions are widely available and used by all sorts of customers as they see fit to meet their business need.”.

Software 102

Software Marketing Washington Compliance 102

Abrigo

MAY 8, 2024

They can more easily consider how to harness genAI's power to enhance their operations, compliance, risk management, and member or customer experience. That’s equivalent to 9% to 15% of operating profits, the report notes.

Examples 221

Examples Fraud Resources Risk Management 221

PYMNTS

JULY 15, 2020

Among the biggest challenges has been compliance, as so many organizations have had to have call centers , back-end operations and fraud teams work from home. . And for some retailers, it can seem as if every day is Black Friday — not just for larger, well-established players, but also for small to medium-sized businesses (SMBs). “And

Fraud 250

Fraud Course Online Data 250

Bobsguide

JUNE 22, 2022

Interswitch, Africa’s leading integrated payments and digital commerce company, and Compass Plus Technologies, an international provider of retail banking and electronic payments software, have announced a partnership to further strengthen Interswitch’s payment card processing capacity in Africa.

Technology 78

Technology Payments Regional Cards 78

FICO

NOVEMBER 24, 2020

As many of us who have long been in the industry know, fraud remains a top challenge for debit cards. billion in gross (attempted) debit card fraud and ultimately incurred losses of over $1 billion on debit and ATM transactions; the need for an effective solution to this problem has never been greater. In 2019 issuers faced $4.2

Fraud 52

Fraud Cards ATM Case Study 52

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. These APIs handle everything from acceptance and processing to settlement and reconciliation, while ensuring compliance and security. Virtual card issuance.

Online 98

Online Company Retail Payments 98

PYMNTS

OCTOBER 8, 2019

When considering the financial services (FinServ) challenges of the legal cannabis sector, the biggest point of friction that almost always comes to mind first is the point of sale (POS): enabling marijuana businesses to accept electronic payments from their retail customers. A Shifting Regulatory Landscape.

Compliance 114

Compliance Guidelines Industry Taxes 114

PYMNTS

JUNE 18, 2020

Credit cards typically contain a chip or require a PIN. Meanwhile, the Financial Conduct Authority , an independent financial regulatory body in the United Kingdom, has moved its SCA compliance date to September of next year, in part, due to the mayhem caused by COVID-19. . But this has not been true for online transactions.

Groups 131

Groups Regulation Fraud Security 131

PYMNTS

JULY 29, 2019

Mastercard is expected to report strong revenue growth in its second-quarter earnings, thanks to a continued increase in retail spending and digital transactions, according to analysts. The company introduced a new open banking platform in June that supports connectivity, security and compliance, dispute resolution and consulting services.

Payments 117

Payments Portland Oregon United States 117

PYMNTS

NOVEMBER 7, 2019

SCA awareness is thankfully high among the payment service providers (PSPs) tasked with executing and communicating the mandates to businesses and consumers, and these PSPs are working with regulators and other trade groups to develop compliant solutions for retailers. Frictionless Transactions and the SCA Compliance Challenge .

Compliance 100

Compliance Regulation Payments Retail 100

South State Correspondent

JANUARY 4, 2023

In addition, they may consider focusing on these five critical areas: Improve Operating Leverage. To improve the quality of their earnings, banks need their number one focus to be on making their operations more efficient. To the extent projects improve operating leverage and the total experience, so much the better.

Community Bank 195

Community Bank Capital Lending Training 195

PYMNTS

JULY 26, 2017

As outlined in the report, however, the OCC again identifies issues related to strategic, credit, operational and compliance risks as top concerns.”. Many banks have increasingly leveraged and become dependent on third-party service providers to support key operations within their banks,” the report stated. Compliance.

Compliance 115

Compliance System Fintech Report 115

Abrigo

JANUARY 24, 2024

A second fraud management and prevention consideration for credit unions is that FedNow will operate around the clock every day of the year. For example, an ATM scheme that operated through July 2023 targeted credit unions in six states, stealing nearly $6 million. Careful product design is vital.

Fraud 221

Fraud Payments Software Policies 221

PYMNTS

JANUARY 30, 2020

This week’s roundup of the latest open banking initiatives finds new use-cases in business payments, procurement, corporate cards and more. Mastercard Taps FinTech for Biz Card Boost. Mastercard wants to expand Europe’s commercial card adoption, and is turning to a FinTech partner to help. Bankin’ Steps Into Payments APIs.

Data 161

Data Fintech Cards Software 161

PYMNTS

NOVEMBER 22, 2018

Chalk it up to “unviability of operations” in the wake of new regulatory guidelines, mandating upgrades that focus on the actual management of the physical cash at those machines. New rules mean new compliance activities, which, of course, mean additional compliance costs for these stakeholders — as much as $489 million.

ATM 187

ATM Payments Compliance Google 187

South State Correspondent

OCTOBER 25, 2023

The rise of card-not-present transactions for phone and then e-commerce, starting in 1994, cannibalized check volume, as did Paypal, retail ACH for phone and internet transactions in 1998. The debit card started to rise in popularity in 2004, as did an explosion of ATMs in 2005, affording the general population more access to cash.

Fraud 195

Fraud ATM Payments Management 195

PYMNTS

MARCH 14, 2019

The release of a new Google app development tool is among the latest steps to try to bring more mobile accessibility to people with disabilities — a push that’s been going on in the background of digital retail and associated areas almost since the beginning. ADA Compliance.

Google 161

Google Tools Mobile Retail 161

PYMNTS

OCTOBER 17, 2018

A few weeks before the CCC issued its final licenses, GFA Federal Credit Union of Gardner, Massachusetts, announced it would be willing to work with legalized marijuana businesses, extending financial services to the industry and providing marijuana retailers with the same financial benefits used by traditional businesses.

Colorado 126

Colorado Massachusetts US Industry 126

PYMNTS

FEBRUARY 19, 2019

Retail figures will vary as new stores continue to come online and the marketplace continues to evolve,” the report said. As well, Canadian financial institutions still worry that dealing with cannabis operations — even though they are legal — could lead to anti-money laundering compliance issues, as is the case in the U.S.

Payments 177

Payments Cards Operations Online 177

PYMNTS

AUGUST 25, 2016

On Wednesday, September 21, 2016 at 1:00 PM (EST) , join Rich Stuppy, Chief Operating Officer of Kount , and Karen Webster, CEO of MPD, for a live digital discussion about the vulnerability of larger groups, like the Pokémon GO user base, and why they are a prime target for fraudsters and scammers. COO, Kount.

Compliance 100

Compliance Fraud Big Data Innovation 100

PYMNTS

OCTOBER 22, 2018

Fraudsters have found a new favored method for the holidays, the Sears’ bankruptcy filing finally came in and the major card networks found themselves on the wrong side of India’s emerging data privacy efforts. Gift Cards’ New Unfavorable Fans. As of September 2018, losses from gift-card fraud have hit $53 million.

Data 134

Data Fraud Cards Regulation 134

PYMNTS

DECEMBER 23, 2020

According to Evans, “instead of needing to have payments expertise in house — and having to build that expertise — payments orchestration allows businesses to outsource” that expertise to another firm, while avoiding the operational challenge of having to work with and integrate several payment and fraud prevention providers.

Company 274

Company Payments Fraud Online 274

Independent Banker

JULY 29, 2016

ICBA Services Network oversees five ICBA subsidiaries operated by community bankers for community banks. Each subsidiary delivers best-in-class programs, support and pricing for member community banks seeking operational efficiency and return on their membership investment. CPI Card Group — instant-issue and plastic card manufacturing.

Community Bank 70

Community Bank Community Compliance Lending 70

PYMNTS

SEPTEMBER 27, 2019

Global consensus over how such tax policies should be enacted has yet to materialize, however, and disagreements among laws create confusion and greater compliance work for businesses. These companies are requiring banks to remit taxes for online purchases customers make with cards that the FIs have issued. marketplace PuroTrader.

Taxes 109

Taxes Trends Policies Compliance 109

Insights on Business

OCTOBER 18, 2017

We helped banks go online, becoming always-on for their commercial and retail customers. With petabytes of data now generated daily, we’ve gone well beyond the limits of human understanding or capacity and a new operating model is necessary. Nothing else is empowering compliance departments this way.

Compliance 101

Compliance Fraud Regulation Technology 101

PYMNTS

OCTOBER 30, 2020

The “whose customer is it” question is now at the core of a number of the platform dynamics at play today and experiences that shoppers and retailers have with those platforms. PYMNTS explores how cloud infrastructure and automated systems have improved Western Union’s operating efficiencies. Trackers And Reports .

Technology 161

Technology Apple Payments Capital 161

PYMNTS

OCTOBER 21, 2019

Furthermore, according to the latest edition of PYMNTS’ PSD2 Tracker , only 40 percent of merchants operating in the European Union that are aware of SCA reported being ready by that date. The new SCA Impact Playbook explores how subscription-based merchants can prepare for SCA and manage conversion, churn and card-based risk.

Strategy 100

Strategy Compliance Fraud Payments 100

PYMNTS

AUGUST 9, 2017

Some question whether the card-payment network operator will be able to overcome the struggle to “remain relevant” in a market that is quickly changing — and where consumers may soon be leaving card-based payments behind entirely. The Global Card Networks that Want in. But looks can be deceiving. The JD.Com Pair-Up.

Payments 116

Payments Apple Cards Mobile 116

PYMNTS

SEPTEMBER 10, 2018

That includes tokenization, too — specifically, Multi-Variant Tokenization, a new proprietary technology from TokenEx that was designed to enhance how businesses operate and interact with sensitive data. As a result, these companies can generate higher returns while cutting costs and reducing compliance burdens at the same time.

Compliance 101

Compliance Data Security Payments 101