PYMNTS

SEPTEMBER 3, 2019

Two hundred and seventy-four years later, those words are the perfect framework for understanding what will define the next decade of innovation in payments and any ecosystem that touches it. Sometimes those innovations disrupted old models and players; other times they made them better and more efficient. The Invisible Innovators .

Innovation 223

Innovation Payments Branding Cards 223

PYMNTS

JUNE 9, 2020

The two years since have led governments around the world to launch initiatives exploring innovative digital connection strategies for financial institutions (FIs) and merchants as well as their customers. Mobile and online payments are also on the rise for this same reason. COVID-19 Exposes Online Payment Concerns. and the EU.

Regulation 132

Regulation Online California Regional 132

PYMNTS

JUNE 12, 2019

Online universities have become common as more students seek convenient, flexible ways to earn degrees. Western Governors University (WGU), a nonprofit online university based in Salt Lake City, was founded in 1997 by 19 governors of western U.S. Stress-Free Studies. states to create a skilled workforce.

Online 145

Online Fraud Analysis Study 145

PYMNTS

SEPTEMBER 8, 2020

Gauthier said studies show that consumers have what’s called a “decision-making budget” — how much energy they can put toward making decisions — but COVID-19 is pushing that to the limit. “We Should I leverage the online capabilities?’ — taxes that budget,” Gauthier said. Should I buy this car?’” Should I send my kids to school or not?

Innovation 223

Innovation Retail Millennials Tools 223

Bank Innovation

OCTOBER 19, 2018

outpaced growth in noncash payments overall between 2012 and 2015, according to a Federal Reserve Payments Study released this week. The study’s survey of depository institutions found noncash payments fraud increased 37%, from $6.1 Noncash payments fraud in the U.S. billion in 2012 to $8.3 billion, in 2015.

Study 150

Study Fraud Payments Survey 150

PYMNTS

JUNE 8, 2017

The more connected devices consumers have, the more concerned they are about the security of their financial information. But half had also purchased something online in that same time, showing that the way people shop is shifting. Nearly 80 percent of respondents had made a purchase in a physical store within the last week.

Security 151

Security social media Study Google 151

PYMNTS

SEPTEMBER 28, 2020

Saudi Arabia and the United Arab Emirates are attempting to square away increasing consumer use of online channels with their privacy and banking standards. Why Pandemic-Driven Online Payment Spikes Are Pushing Middle Eastern Regulators To Confront Privacy Questions.

Online 151

Online Report Payments Regulation 151

PYMNTS

MARCH 13, 2019

A vast majority of firms in that sector surveyed by Forrester (and commissioned by TransUnion) – 99 percent of them, in fact – view open banking as beneficial to financial services, as reported by Enterprise Innovation. Additionally, as many as 46 percent expect to see better customer experiences.

Study 155

Study Customer Experience Fintech Survey 155

PYMNTS

NOVEMBER 8, 2019

Thanks to smartphones equipped with facial and fingerprint recognition for security, many consumers now have up close and personal experience with newer forms of digital ID. Innovations — some more fantastical than others — keep emerging, though. Biometrics isn’t as sci-fi as it once was. Vein recognition? Voice patterns?

Innovation 120

Innovation Fraud Security Data 120

PYMNTS

MAY 29, 2020

Allowing customers uninterrupted access to their online financial accounts and processing digital payments quickly is critical during this time as brick-and-mortar branches are either closed or on limited hours. Why Cloud Computing Is Critical To Banking Innovation. Developments Around The Cloud Banking World.

Digital Banking 230

Digital Banking Innovation Online Technology 230

PYMNTS

SEPTEMBER 20, 2019

Sales of counterfeit goods, particularly on third-party sites that facilitate transactions between individual buyers and sellers, have skyrocketed with the advent of online shopping. Online Luxury and the Importance of Authentication. trillion by 2020.

Online 118

Online Millennials Community Fraud 118

PYMNTS

FEBRUARY 4, 2020

GDPR and PSD2 have significantly shifted how EU banks and businesses exchange online funds and consumer data. These questions and concerns caused certain European markets to temper their financial and privacy innovations, which could hamper Open Banking’s worldwide growth. SCA Questions Stall Innovation. France, the U.K.

Fraud 144

Fraud Regulation Compliance Innovation 144

PYMNTS

JUNE 10, 2020

This has increased the need for FIs to develop convenient mobile onboarding experiences, but those that lack confidence in their ability to secure such channels appear to be reluctant to offer them. A 2018 study found that more than 50 percent of U.K. These users had to restart the process from the beginning if they switched channels.

Mobile 130

Mobile Security Examples Study 130

PYMNTS

DECEMBER 29, 2020

A recent study even estimates that shoppers could ultimately shift $100 billion worth of annual spending from credit cards to debit cards. Getting security right also means balancing customers’ security and privacy concerns. Around The Next-Gen Debit World. About The Tracker.

Fraud 303

Fraud Cards Analysis Tools 303

PYMNTS

MAY 28, 2020

In the May Digital-First Banking Tracker® , PYMNTS explores the latest in the world of digital-first banking, including the challenges facing deployment of APIs amid the COVID-19 pandemic, new online initiatives from nationwide FI chains and community banks and the security challenges that are plaguing digital banking programs.

Community Bank 176

Community Bank Community Security Digital Banking 176

PYMNTS

SEPTEMBER 22, 2020

Many financial institutions (FIs), especially online-only entities, moved their digital banking infrastructure to the cloud years ago to prepare for a rising crop of digital users, but the pandemic’s impact goes deeper. Banks are continuing their ongoing movement to the cloud even as data and security questions continue to grow.

Compliance 191

Compliance Digital Banking Security Online 191

PYMNTS

JULY 13, 2020

Many customers have grown accustomed to virtual tours and online onboarding processes and may not wish to return to paper-based or manual methods. One study showed that 44 percent of individuals in 2018 began their house-hunting journeys by looking up potential properties online before contacting real estate professionals.

Data 198

Data New York City New York Fraud 198

PYMNTS

JANUARY 19, 2021

Studies showed that many consumers in the United States have begun tapping their debit cards more often for payments, for example, with one report finding that debit use rose about 6 percent year over year. Another study found that 55 percent of U.S. Another study indicated that debit-related fraud is on the rise across the U.S.

Fraud 155

Fraud Tools Mobile North Carolina 155

PYMNTS

OCTOBER 16, 2020

Going straight to the heart of the matter, PYMNTS’ October Digital Identity Tracker® , done in collaboration with Jumio , states that “consumers’ growing digital habits are prompting many digital identity solution providers to view verification as part of the consumer engagement process as well as a means to ensure security and privacy.”.

Security 189

Security Knowledge Base Customer Experience Retail 189

PYMNTS

JANUARY 22, 2021

PYMNTS January 2021 Next-Gen Debit Tracker® done in collaboration with PULSE , A Discover Company, notes, “Banks, government agencies and retailers have scrambled to adjust to consumers’ digital spending and payment shifts during the pandemic, but doing so swiftly has presented security challenges. Sensible Debit Needs To Be More Secure .

Fraud 130

Fraud Study Cards Security 130

PYMNTS

DECEMBER 21, 2020

You can see it in how investors are putting money to work in both consumer-facing and B2B startups, and how startups and incumbents are forging new partnerships to move innovation faster to market. Source: PYMNTS.com longitudinal study of over 40,000 consumers (data from the most recent panel on Nov. consumers — 47.2

Apple 227

Apple Study Innovation Survey 227

PYMNTS

APRIL 27, 2020

Banks do not always have the budgets or resources to craft cutting-edge online and mobile experiences, although they can no longer afford to put off digital transformations. The number of online banking customers is growing worldwide, and FIs’ consumers are coming to expect seamless digital experiences as a result.

Digital Banking 248

Digital Banking Tools social media Mobile 248

PYMNTS

NOVEMBER 2, 2020

In years to come, it’ll be hard to find anything as studied and surveyed as COVID-19’s effects on commerce. As PYMNTS noted in the Pandenomics report in early October, “the biggest change of all will likely be the share of consumers shopping for groceries online. Payments Innovation Leads the Way . Our research shows that 85.3

Study 205

Study Cards Payments Innovation 205

PYMNTS

AUGUST 21, 2020

This popularity is not expected to decline once the virus wanes, with the number of online and mobile banking users expected to hit at least 3.6 Windows developer Microsoft has released security patches to fix this security gap, but as many ATMs are in remote areas, their operators do not often upgrade their systems.

Analytics 266

Analytics Fraud ATM Report 266

PYMNTS

SEPTEMBER 18, 2018

And in lending, with the financial crisis in the rearview mirror, a decade on, invention – okay, innovation – has become a hallmark, at least in some corners. Much has been said about the wealth effect of those who held and hold stock market securities, and much has been written about income disparity. Invention can become necessity.

Lending 148

Lending Innovation Fintech Cards 148

PYMNTS

JANUARY 22, 2020

Digital disbursement innovation is picking up speed in certain states, luckily, as digital payment technology becomes more readily available and less costly. In the State And Local Disbursements Report , PYMNTS examines the current state of disbursement innovation and reform for U.S. government departments. Government Agencies.

Idaho 130

Idaho Illinois Innovation Tennessee 130

Bank Innovation

SEPTEMBER 6, 2017

This is according to the second part of the Global Consumer Survey: Consumer Trust and Security Perceptions report conducted by ACI Worldwide and the Aite Group. The study of 6,035 consumers around the […].

Mobile 339

Mobile Study Survey Cards 339

PYMNTS

MARCH 1, 2019

While the benefits were great, the innovation came with its share of risks, too. The value of online banking fraud loss nearly tripled from 2007 to 2009 after the U.K. Security strategies. Consumers no longer had to carry hard currencies, and they could make purchases using money they expected to earn. Before the U.K.

Security 134

Security Payments Fraud Cards 134

PYMNTS

NOVEMBER 16, 2020

This development is fitting, considering the degree to which commerce has shifted online since the pandemic. The share of total retail sales transacted online has surged since the start of this year, and this trend appears likely to hold in the months and years ahead amid continued anxieties about in-store shopping.”. told PYMNTS.

Cards 239

Cards Payments Innovation Customer Experience 239

PYMNTS

SEPTEMBER 24, 2020

These considerations are especially important during the ongoing coronavirus pandemic as the wave of legitimate customers now doing their banking online has prompted a corresponding spike in fraud. Companies are reexamining how they can use cloud technologies to comply with changing security standards as digital banking volumes expand.

Compliance 151

Compliance Fraud Regulation Security 151

PYMNTS

OCTOBER 10, 2019

Many want more options and control when it comes to their security. In fact, one recent study found that 71.2 percent of customers agreed that mobile transactions would be more secure if the consumers themselves had more control over their authentication options. Banks Are Innovating AML To Keep Out Launderers.

Fraud 126

Fraud Digital Banking Strategy Security 126

PYMNTS

OCTOBER 6, 2020

A study found that the industry expanded by 20 percent over the past five years, with online food delivery revenue expected to hit $24 billion by 2023. Customers’ expectations of QSRs were changing long before the pandemic’s onset, with consumers demanding quicker services, more convenient ordering and ironclad security measures.

Report 237

Report Innovation Boston Chicago 237

PYMNTS

MAY 18, 2020

What might be surprising is the number of consumers who will continue their new online habits. Thus the tipping point, as we detail in the study “ The Great Re-Opening: Tracking Digital’s Quantum Leap ” where behavioral change is firmly entrenched. But of those who do, more than half — at 22.9 Even more remarkable is that 5.1

Online 183

Online Retail Millennials Study 183

PYMNTS

AUGUST 13, 2020

By comparison, the first 3-D Secure (3DS) technology provides consumers with a user experience marked by lengthy times for processing and verification. A 2019 LexisNexis study found that overall retail fraud attempts increased by two times year over year and three times since 2017. Merchants pay $3.13

Technology 248

Technology User Experience Fraud Comparison 248

PYMNTS

FEBRUARY 27, 2020

Businesses of all kinds suffer from the pervasiveness of fraud, with a recent study finding that 40 percent of retailers, restaurants and insurance companies had their online expansions impeded by cybercrime. Many of these companies are turning to new and innovative techniques, such as machine learning, to counter this threat.

Fraud 150

Fraud Examples Online Data 150

PYMNTS

OCTOBER 2, 2020

According to the recent PYMNTS study The Great Reopening, The Road To A Digital Normal , the transition to digital is becoming a much more routine way of doing business. More and more consumers are shopping online or having groceries or meals delivered — and look set to continue to do so even post-COVID, the study found.

Study 150

Study Online Examples Report 150

PYMNTS

JANUARY 15, 2018

It also explains why some innovations in payments have been met with open arms by consumers and others given the cold shoulder. Their study concluded that routines are shaped by how the brain’s neurons process information about the cost and benefit of switching things up – or not, and sticking with the status quo.

Innovation 109

Innovation Payments Google Training 109