Corporate payments firm Centtrip announced news on Thursday (July 5) that it has added a Batch Payments functionality, allowing businesses to make multiple payments at once. Gone are the days of making frequent payments, such as payroll or expenses, one by one and re-entering the same information every time,” Centtrip said in an announcement on its website, adding that individual transactions can waste time and expose a business to inaccurate payments. MORE

banks are awaking to the idea that supporting realtime payments (RTP) could add value not just to their customers, but to their revenues. DataBank Innovations Mobile Online Open Fintech Payments PFM Uncategorized APIs APIs open banking dwolla Finastra Fiserv Jack Henry realtime payment MORE

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.”. MORE

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 MORE

Blockchain technology has allowed businesses to eliminate unnecessary, not to mention costly, intermediaries and significantly reduce international cross-border payment processing time from weeks to a day. Recent developments from across the faster payments world. MORE

has some competition when it comes to late payments. Late payments are everywhere, it seems – a fact of life in the B2B realm. Headed into a shortened holiday week, the spotlight has been trained a bit on the United States, where late supplier payments are gaining traction. Overall, across North America, roughly 50 percent of invoices are past their payment date thus far in 2018, compared to less than 49 percent last year. Gig Economy: Hurt by Payment Issues, Too. MORE

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. MORE

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. MORE

continues to consolidate its payments industry, with its New Payment System Operator (NPSO) announcing the latest step in the initiative. Payments Administration and has taken control of the nation’s check and credit clearing operations. “This is our opportunity to create the future of retail payments in the U.K., We will be the leading payments authority that will create a best-in-class payment infrastructure and standards in the U.K. MORE

Payments and financial services? No surprise, then, that innovation in the payments space is getting ever-more truncated in terms of time to market. Not to mention push payments , which use existing rails to get gig workers paid as projects are completed. MORE

Industries of all types are embracing the potential of embedded payments to not only sell products, but to help plan and purchase experiences as well, and are rolling out new solutions in hopes of securing their slice of the pie. Around the Payments Powering Platforms World. MORE

ACH, wire, virtual and physical cards, and other rails all come into the mix, particularly as each vie for a chance to take B2B payment market share away from paper. For vendors, this means managing acceptance of multiple payment rails, often based on what their corporate customers prefer. A difficulty that arises from using multiple payment mechanisms is the complexity of tracking these payments, especially non-electronic forms such as check and cash,” the report stated. MORE

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. MORE

The need for faster payments is transcending borders, with FIs in several major global regions making efforts to expand local access to speedier payments. Around the Faster Payments World. banks are putting their payment tools into overdrive. s payment systems. MORE

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. MORE

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. MORE

A decade ago, when Britain first launched its Faster Payments Scheme , buzz had barely begun on the topic. billion payments later, the world is catching up and catching on, and faster payments are part of almost everyone’s plans. s Faster Payments Scheme made its first debut. $65 MORE

But when it comes to payments technology, that can be easier said than done. That makes payments integration a tall order because it isn’t a static, one-time decision; it needs to be open for changes tomorrow.”. Mobile payments encompass many different scenarios, Zimmerman said. MORE

Even in the digital payments world (and as more people travel more often, sometimes working freelance gigs along their journeys), the concept of home remains strong. Peter Shore, general manager of payments services firm Transpay , and Guillermo Bracciaforte, co-founder of online freelance marketplace Workana , recently spoke with PYMNTS about the payment preferences of gig workers and making gig economy payments more efficient. MORE

B2B eCommerce software provider OroCommerce is integrating payments capabilities into its platform through a new collaboration with Limonetik. A press release issued Monday (June 11) revealed OroCommerce is turning to the cross-border payments FinTech to provide payment services for its corporate customers via API. The solution links businesses on the OroCommerce platform to more than 125 international payment methods to pay for the goods they purchase online. MORE

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 MORE

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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. MORE

s Faster Payments system, that period of contemplation and consideration has arrived. Faster Payments has been busy over the past decade, processing more than 9.1 billion payments since first going live. billion payments valued at more than £1 trillion ($1.32 MORE

That includes corporates, too, as firms like PayPal press into the B2B payments and small business finance market – but they’re not always doing it alone. When Sage announced the collaboration late last month, the company also highlighted its own research, which found small businesses can waste up to 120 days on administrative tasks and up to 15 days on chasing late payments. ” Sage isn’t PayPal’s first foray into B2B payments. MORE

Citi announced Monday (July 16) the launch of Citi Payment Insights, a new service that gives institutional clients access to real-time payment information and the ability to action payments on demand via the CitiDirect BE electronic banking platform. According to Citi, the institutional payments industry has historically suffered from an inability to fully trace payments throughout the global financial system. MORE

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. MORE

Payments done digitally or with cards, through watches and kiosks, and … well, name it. Processing those payments, however, is no easy task, with security in the headlines, on Capitol Hill and top of mind for companies and consumers alike. Amid all this lies the debate over integrated payments. When it comes to integrated and semi-integrated payment solutions, the tools and techniques vary greatly. To paraphrase an old maxim: There is nothing new under the sun. MORE

Barclays has announced Rob Cameron as its CEO, global head of Payments Acceptance. Cameron will lead the firm’s Barclaycard Payment Solutions business and report to Barry Rodrigues, CEO of Cards & Payments at the company. Rodrigues said in a statement that he is confident Cameron will help the company as it looks to expand its Barclaycard Payment Solutions business, which includes the purchase of The Logic Group. MORE

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. MORE

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. MORE

Say hello to the payments industry’s 83-year-old startup. That would be UATP (Universal Air Travel Plan), the oldest payment scheme in the world, founded by American Airlines in 1936. That’s by design, Kaiser noted, because UATP is an entirely B2B-based payments network that very few consumers ever have direct reason to touch. Airlines, he noted, are a unique world in and of themselves when it comes to payments. Improving The Wider World Of Payments. MORE

To verify payment cards at the point of sale (POS), Mastercard is looking into blockchain technology. Patent and Trademark Office (USPTO), the company said it has devised a process to send and retrieve payment credentials through a “publicly accessible blockchain,” CoinDesk reported. Through a two-way method, the system encodes an encrypted payment card image that is stored on the blockchain with a private and public key. MORE

And why should payments be any different? Facilitating international payments is no easy task, especially in the corporate realm, where the market is slated to reach about $23 trillion in 2020. Perhaps apropos of the travel season (c’mon, you’re dreading the airports this weekend, too) via the Global Payments Architecture Report, Rebecca Kilby, CEO of corporate travel solutions provider AirPlus International Inc., When Payment Absolutely, Positively Needs to Be There Now. MORE

New Payment Rails for Real-Time Transfers MORE

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. MORE

Even if a payment service hasn’t experienced a breach that exposed users’ personal information, those at social networking or online shopping platforms can reveal usernames, email addresses and passwords consumers use with more than one platform. MORE

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. MORE

The payments landscape is changing fast due to new disruptive technologies such as open APIs, distributed ledger technology, cloud, Apple/Samsung/…Pay, and customers’ expectations are changing for seamless and faster payments. MORE

Uber and Venmo , the payment app owned by PayPal, announced on Thursday (July 12) that they’re partnering to deliver a new payment experience available with Uber and Uber Eats. In a press release , PayPal said that more than six million payments on Venmo mentioned Uber in their description during the past year, making integration between the two apps a natural fit. Any merchant that accepts Mastercard payments will accept the Venmo cards. MORE

The pace of payments is getting faster — because the demand and expectations are on the rise. percent : Share of consumers living paycheck to paycheck interested in real-time payments. 35 : Total number of countries with faster payment systems. MORE

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 . MORE

When organizations take in and pay out purchase orders and invoices, what does the perfect payment look like? Bob Sneed, vice president of corporate payments for the payment processing and information management service company WEX , said in a recent interview with Karen Webster that the profile will be different for every organization. Sneed said that efforts to manage corporate payments strategically will fall short until organizations can answer this question. MORE