Payments Providers Are Lukewarm on Blockchain Technology

Bank Innovation

The ways businesses, consumers, and even banks make payments are changing, as technologies like realtime payments and APIs make it easier to send money across the globe. But one technology seems curiously absent from recent payment innovation, and that’s blockchain. “We

Amazon Eyes P2P Payments with Alexa

Bank Innovation

E-commerce company Amazon is debating a P2P payments feature that would allow users to make payments via its Alexa virtual assistant, a move that would push Amazon into competition with providers like PayPal and Mastercard.

Rent Payments With Benefits?

PYMNTS

Checks are a dying payment method, according to the Federal Reserve, except when it comes to rent payments. But full-service payments have yet to be largely embraced when it comes to the rental industry, which still relies on antiquated methods of payment, such as checks.

Mint Shutters Bill Payment Feature

Bank Innovation

One of the first standalone money management services, Mint, is shutting down its bill payment feature, though users will still be able to track bills on the platform, the company stated this week on its blog.

BBVA to Test Invisible Payments at ‘Ciudad BBVA’

Bank Innovation

Spanish bank BBVA will be testing its invisible payment strategy in-house, allowing employees and staff to use an app to pay for purchases without taking out their wallets, the bank announced today. Exclusive Mobile Payments BBVA invisible payments Mobile Payments payments Spanish fintech

How Much Can Technology Improve Healthcare Payments?

PYMNTS

Among the latest hopes for healthcare payments is blockchain. Touted by observers and industry players as one of the top trends that could impact medical billing and data management for 2018, the technology is increasingly being viewed as part of the path to better efficiency in payments. But that’s not stopping payment and commerce players from trying to use technology to bring more efficiency to the system.

HSBC Partners With PayPal for Corporate Payments

Bank Innovation

Add HSBC to list of major banks that have partnered with payments company PayPal. Today, HSBC announced that as a result of its partnership PayPal, the bank will now let its global corporate customers make payments to beneficiaries using their PayPal accounts.

Payment Provider Flywire Acquires OnPlan for ‘More Flexible’ International Payments

Bank Innovation

EXCLUSIVE—International payments provider Flywire will acquire OnPlan Holdings, the parent company for OnPlanU and OnPlan Health, for faster and more flexible payment solutions, the companies announced today.

FSS Instant Payments

Mobile Payments Today

New Payment Rails for Real-Time Transfers

HSBC Enables PayPal For Supplier Payments

PYMNTS

HSBC is introducing PayPal support for corporate payments across borders. An announcement Thursday (March 29) said HSBC now lets its corporate customers use PayPal for supplier payments via a partnership between the two entities. PayPal and HSBC share a common vision of making payments simpler, secure and more convenient for merchants and consumers who want to manage and move their money digitally around the globe.”.

Amex Files Blockchain Faster Payment Patent

PYMNTS

American Express has reportedly filed a patent related to faster payments and blockchain technology, reports in CoinDesk said. Patent and Trademark Office released the patent application filed by American Express Travel Related Services Company, the payment technology firm’s travel unit, which outlines the use of blockchain technology to accelerate payments between two parties.

Payment Rails Latest To Roll Out API-Enabled Global Business Payments Platform

PYMNTS

Payment Rails is making its official step into the cross-border payments market through the launch of its application program interface (API) and payment platform, the company said Thursday (Dec. In a press release , Payment Rails said its white label platform supports business payments sent to more than 220 countries in more than 135 currencies.

Mastercard’s First Foray in the Canadian Insurance Payments Space

Bank Innovation

EXCLUSIVE – Mastercard has teamed up with cloud-based payment processor Dream Payments to provide Canadian insurance group FairFax Financial digital disbursements capabilities.

GoDaddy: Integrated Payments Are Key Differentiator

PYMNTS

As more and more commerce moves from in-person to online, integration of payments into online platforms is unlocking new life-changing possibilities. Payments powering platforms today support use cases beyond eCommerce and retail. Around the Payments Powering Platforms World .

Will the ‘Bank of Amazon’ Make Mobile Payments Mainstream?

Bank Innovation

EXCLUSIVE— Most consumers in the United States stubbornly cling to their plastic payments, even as customers in other countries — see China — increasingly embrace at a steady rate mobile and other digital forms of payment.

Payments chatter invades CES

Mobile Payments Today

A CES panel explored the challenges of payments technology, including the difficulty with online payments, glitches in online payment systems, the lack of retail locations that accept mobile payments and problems specific to cross-border payments

Chinese Payments Service LianLian Joins Ripple Network

Bank Innovation

Chinese payments provider LianLian is joining Ripple’s payment network, RippleNet, to use its blockchain technology for faster cross-border payments, the companies announced today.

Tradeshift Launches Blockchain-Powered B2B Payments

PYMNTS

Supply chain management company Tradeshift is heightening its presence in the B2B payments space through the launch of Tradeshift Pay and is introducing a blockchain-powered early payments service as part of the new offering. A press release on Monday (May 21) said the company is rolling out its cloud-based supply chain payments, supply chain finance and early payments offering into an integrated solution.

Payments^5

Accenture

Five themes are driving change in payments today. Combined, these effects are amplified, creating a powerful force on the payments landscape, which, if you like, we can call Payments^5. As the payments API economy grows in 2018, these APIs can be rebuilt quickly, and often, to meet market demand and opportunity. Secondly, the new PSD2 requirements for strong authentication will impact every customer payment interaction. This is Payments^5.

Bank Of England Consolidates Bacs, Faster Payments

PYMNTS

payment systems have been merged into one by the Bank of England in an effort to boost competition in the financial services space, according to City A.M. Bacs and Faster Payments are now consolidated under the New Payment System Operator (NPSO), the publication reported, as Britain aims to make payments processing easier and more affordable for companies. Both Bacs and Faster Payments are popular systems businesses use for B2B supplier payments. Two U.K.

No More Bitcoin Payments on Stripe

Bank Innovation

Payment processor Stripe will no longer support bitcoin payments on its platform, citing the cryptocurrency’s price volatility as a factor making it an unsuitable form of payment. Cryptocurrency Exclusive Open Fintech Payments Bitcoin cryptocurrency payment processing Stripe

Sage Adds Stripe For Faster SMB Payments

PYMNTS

Small business accounting company Sage announced an integration with payments software platform Stripe in the hope of accelerating payments to small and medium-sized businesses (SMBs). This means businesses can send electronic invoices to their customers and receive faster payment via credit and debit cards in the U.K. Last December, Sage released a report that found 17 percent of all payments in the U.K.

Instagram Rolls Out Native Payments

PYMNTS

Expanding upon its in-app commerce efforts, Instagram has quietly introduced a native payments feature. With the new functionality, users can register a credit or debit card and make payments within the social media platform after setting up a security PIN, TechCrunch reported. A spokesperson for Instagram told TechCrunch that users can now make payments to a limited number of businesses, such as restaurants and salons. However, the company had not mentioned native payments.

Standardizing Digital Payments Standardization

PYMNTS

The age-old question is: How do you create a standard that works for every digital payments innovator – and the consumers and businesses they serve – when the starting points for those innovations reflect their very different origins and digital strengths? It’s a question that’s very top of mind across the payments and commerce ecosystem, and particularly relevant in mobile and desktop commerce.

Banks as Everyday Payment Providers

Accenture

Payments are experiencing a significant wave of change across multiple dimensions, including speed, transaction volumes and new ways of paying. At the same time, the opportunity to generate revenue from payments is decreasing.

The Multibillion-Dollar Problem Of B2B Payments Friction

PYMNTS

B2B payments is at the center of efforts to innovate by FinTechs, banks and others, but corporates’ business-to-business payment processes remain complex, erroneous and a deterrent to growth. While the small sample size prevented analysts from making broader conclusions about the B2B payments space overall, the report found evidence that companies with more than 1,000 employees were struggling to upgrade and improve their B2B payments operations.

Payments Competition Heats Up as Adyen Confirms IPO

Bank Innovation

The payments technology space just keeps getting hotter. payments business PayPal bought iZettle, while today Dutch payments platform Adyen confirmed its plans to go public. Last week, U.S.

When Payments Go North

PYMNTS

As PYMNTS.com’s Karen Webster noted in 2016, use of contactless and other forms of mobile payments in Canada are skyrocketing. So far, Kadakia said, the company has been pleased with the initial adoption rates for the new payments program.

Zelle Processes $25B in Payments After Reports of Fraud

Bank Innovation

P2P payment provider Zelle processed $25 billion in payments during the first quarter of 2018, the service reported yesterday, a more than 15% increase from last quarter. Exclusive Mobile Online Payments Security fraud Mobile banking Mobile Payments online banking P2P payments Zelle

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GoDaddy Turns To Integrated Payments To Power SMBs

PYMNTS

While SMB owners may be masters of their crafts, few are experts in efficiently resolving their payments pain points. Adding payments to online stores, calendars and more . A robust online presence means it is critical for SMBs to be able to seamlessly accept payments online.

WhatsApp To Support Payments Via QR Code

PYMNTS

WhatsApp , the messaging app that has a payments component, is expanding the payments types it supports by rolling out the ability to support QR codes for payments. With the feature, users can send money with QR codes as long as they have WhatsApp Payments. By enabling payments, WhatsApp will be competing against Tez from Google, which already supports peer-to-peer payments, and Hike, which has the backing of China’s Tencent.

Payment Platforms Evolving As Faster Payments Take Root

PYMNTS

In payments, there are revolutions marked by sweeping changes in very short periods of time — online shopping, anyone? For payment platforms, the conduits that keep commerce’s wheels greased are similarly transformed by change, and with constant evolution in the cards. The discussion took place as NACHA unveiled Phase Two of its Same Day ACH initiative, debuting same-day debits with an eye on settling bill payments with speed and security.

Nordea Bank Offers Payments Through Fitbit Pay and Garmin Pay

Bank Innovation

Nordea Bank today announced it is rolling out contactless payment options for its customers in Sweden, Denmark and Finland, thus becoming the first major Nordic bank to offer payments on both major wearables players Garmin and Fitbit.

The Data Behind B2B Payments’ API Excitement

PYMNTS

and EU like Open Banking and PSD2 that require such cooperation, APIs are emerging as an essential piece of the equation for payments innovation. That rings especially true in the areas of B2B payments and cross-border payments, which are complex, require the movement of data along with funds, and often involve multiple parties that have to all be on the same page about a transaction. 145 billion: the value of cross-border B2B payments as of December 2017.

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Visa and Mastercard Will Combine E-Commerce Payment Buttons

Bank Innovation

Payment providers Mastercard and Visa will combine their online checkout experiences into one, in an attempt to make e-commerce payments as simple as PayPal or Amazon. Cards Commerce Exclusive Mobile Online Payments

Cambridge Global Payments Launches Early Payments

PYMNTS

Cambridge Global Payments , a unit of FLEETCOR and a provider of international payments and foreign exchange transactions, announced news on Tuesday (March 6) that it is aligning with Qwil to provide customers with advance payment capabilities. In a press release, Cambridge Global Payments said offering Qwil will enable independent contractors, freelancers and vendors to receive early payments so cash flow isn’t impacted.

Faster Payments Finds Its Future

PYMNTS

Less than two months after its implementation, Same Day ACH, the ubiquitous faster payments initiative for the payments industry in the United States, is showing a significant impact on the market, but it still has plenty to learn from those across the pond.

Comdata Opens Up Digital Payment Tool To Trucking Businesses

PYMNTS

Comdata, the payment services arm of FLEETCOR , on Thursday (May 24) announced that businesses within the trucking industry can now register for Comchek Mobile. The service enables those operations to “instantly digitize payments for settlement, driver advances, lumpers, repairs and other common over-the-road needs,” Comdata said in a statement. Comchek Mobile launched in 2017 and serves to digitize “Comdata’s paper Comchek and Express Code payment offering,” the company said.

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Around The World With Payment Methods

PYMNTS

Today In Data canada Cash credit cards digitization hospitality hotels Innovation internet News Nigeria Payment Methods Retail Technology Today in Data

Payments 2016, The Year Of …

PYMNTS

From open APIs to omnichannel, from EMV chip cards to faster payments, it’s hard to put a finger on exactly which happenings in the payments space had the biggest impact in 2016.

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