It’s the oldest payments network in the world that you might not be familiar with. United Air Travel Plan (UATP) is the oldest payments network in the world — 83 years and counting — and handles an estimated 15 percent of the global air travel market, with 80 percent of its business coming from outside the United States, mainly from Europe and, increasingly, China. The sky is the limit, it seems, for B2B travel payments. MORE

Around the globe, new payment schemes are on the rise. In the Eurozone, the Eurosystem’s new process for settling instant payments is slated to go live this November. The bank signed a deal with a payments and transactional services company to help make that happen. MORE

based B2B FinTech is making its debut on the market, with late supplier payments at the center of its initiatives. 13) introducing Solna’s strategy to address cash flow management struggles resulting from late supplier payments. Further, the Solna platform will bridge SMBs to financial services they can use to further address late payment issues based on their individual needs, and pre-approving them for financing from third parties. A new U.K.-based 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

Consumers are almost unanimously voting for the former, at least, metaphorically, when it comes to payments. For those who keep a close eye on the latest news in the world of payments (we are a wild bunch indeed!), this has been a banner year for real-time payments. MORE

However, blockchain is also gaining ground, and currency is offering a boost to the payments infrastructure. To that end, IBM said it launched its Blockchain World Wire , billed as a cross-border payment system that is powered by the Stellar blockchain network. The tech giant also said that the blockchain-enabled conduit is more cost-efficient than seen with traditional payment methods, and can support any number of asset types, across destinations and sizes. MORE

Business growth in Africa requires better payments infrastructure, and that effort received a significant boost this week when Stripe, Visa and other firms invested $8 million in Paystack. The Nigerian company enables developers to create payment tools via its APIs, and connects multiple payment processors by handling transactions for merchants and consumers. There is a lot of (payments) volume happening” in Nigeria, Akinlade said during the interview. MORE

One might assume every business that wants to innovate around payments is doing so – but actually, in some verticals , those innovations are harder than others. trillion: The projected value of payments done in cash in the Middle East by 2021. 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

Business software company Intuit has secured a patent for bitcoin payment processing, according to Coindesk reports on Thursday (Aug. Patent and Trademark Office published the patent , which describes a method to process bitcoin payments sent via text message that includes payment amount and validation based on a virtual payer account maintained by the payment service. The company has also focused on payments via collaboration. MORE

Lately, though, Google has looked to bring greater transparency to the travel payments market. American Airlines , for instance, has used rewards and promotions in an effort to boost credit card payments on flights. A new platform enabling rewards and card acceptance has allowed American to end cash payments for in-flight purchases. Still, other players are looking to simplify travel payments by utilizing customer data to save travelers’ time, if not necessarily money. 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

Airlines and hotels are not payments companies — and they don’t want to be. But, like it or not, payments are not only a part of the travel business — they are a big, important and increasingly complex part in the mobile era. Travel payments often come in through multiple touch points, feature frequent adjustments and often involve a host of cross-border transactions. billion) of global travel sales are going toward payment services providers. MORE

Starting today, TD Bank launched a payments solution enabling its small business customers to make and customize electronic B2B payments. The service, unveiled today, will be provided through payments company Bottomline Technologies' Paymode-X with Visa Payables Solutions. 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

A few years later, this innovator expanded by licensing its tech to other banks across the country and created a business model that provided incentives for merchants, banks and consumers to accept, issue and use this new payment innovation. Sheedy explained that in 1993, the year he joined Visa, payments were more or less a secondary business for banks that were more interested in the credit part of the credit card proposition than anything else. Sixty years ago today (Sept. MORE

A new survey released from TD Bank suggests that real-time payments technology is beginning to capture the attention of the corporate payments world. The finding suggests a shift in the market, with corporates unsure or unconvinced of how faster payments capabilities might affect their operations. Still, the research suggests the commercial payments industry is certainly paying attention to real-time payments. MORE

The payments world could very well be living in the Upside Down. Over the last couple of weeks, there have been a few developments that suggest there could be some stranger things lurking in our own upside down, payments parallel universe. Even Overstock — among the first, if not the first, to accept bitcoin as a payments currency on its site — reports that a measly 0.25 percent of its sales were attributed to that payment method. MORE

Late invoice payments aren’t an issue isolated to the U.S., In 2011, the European Commission (EC) introduced a new directive to combat late payments, citing that “thousands of small and medium-sized enterprises (SMEs) go bankrupt waiting for their invoices to be paid.” ” Late invoice payments cause lost jobs, stifle entrepreneurship and land heavy financial burdens on businesses of all sizes, the EC declared. Online payment is a must.” MORE

financial players are still exploring the best practices to offer faster payments to corporate clients. A recent survey of 20 of the nation’s top-60 banks found that there’s a lack of consensus among banks when it comes to managing and charging businesses for real-time payments. MORE

Travel companies know that payments innovation is mission-critical when it comes to acquiring and retaining consumers all over the world. It’s a clear fact in the data — 81 percent of travel firms indicated that payments innovation is on the menu for the next three years, according to the PYMNTS/ Amadeus IT Group Travel Payments Study. billion) of global travel sales are going toward payment services providers. They don’t have to “do” payments at an upper level. MORE

Consumers are almost unanimously voting for the former, at least, metaphorically, when it comes to payments. For those who keep a close eye on the latest news in the world of payments (we are a wild bunch indeed!), this has been a banner year for real-time payments. MORE

The summer, now drawing to a close, brought significant payments and commerce activity outside the Western world. The opportunity in eCommerce in Africa lies in the fact that Africa is lacking logistics, infrastructure and payment systems,” Ma said at a conference in Johannesburg, according to Bloomberg. Digital payments, FinTech and eCommerce are expanding slowly, but surely, in Africa. 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

NACHA — The Electronic Payments Association said the value of the payments was $4.5 The ACH Network is thriving, and has achieved a milestone of more than 2 billion payments in one month,” said Jane Larimer, chief operating officer of NACHA. This impressive growth demonstrates that businesses and consumers are choosing to use ACH payments.”. These numbers mean that the ACH Network is on track to add more than 1 billion new payments for the fourth consecutive year. MORE

Property management software provider Yardi is enhancing its payments capabilities through a new partnership with Fifth Third Bank. 4) that its Yardi Payment Processing solution will now enable its corporate customers to pay vendors using a virtual card, with the services provided by Fifth Third. The solution enables property management companies to avoid fees linked to ACH and check payments, while virtual cards provide payment security and transaction visibility. MORE

Global Payments, the worldwide provider of payment technology and software solutions, announced on Thursday (Aug. I would like to thank David for his significant contributions to the growth of Global Payments over the past decade,” said Jeff Sloan, chief executive officer. “In Additionally, Global Payments announced that Sloan and Cameron Bready, senior executive vice president and chief financial officer, have extended their employment agreements through August 2021. MORE

The handwritten invoice he left with my cushions included his name, his mobile phone number and the payment methods he accepted: cash or check. So, I called and asked whether he would accept payment via my bank app and his mobile phone number. He said when he went to his bank — a small one — to ask for help, he was told the bank didn’t support this type of payment and to return the next day when the manager was back. Ubiquity, of course, is payments nirvana. MORE

So it is with travel, and for corporate travel and payments related to those trips. Complexity reigns when payments are sent across currencies and borders. Bill Crowley, Hyperwallet ‘s managing director for Europe , noted that the growth of online marketplaces brings with it new options for travelers, but also new challenges of tracking payments across the expanding and changing corporate travel landscape. MORE

Let's take a look at the what blockchain is, and how it can help transform the mobile payments industry MORE

The enterprise is still unsure about faster and real-time payments. With companies paying suppliers on strategic schedules, real-time transactions aren’t always necessary — or beneficial — for the B2B payments space. Yet there is some adoption of faster payment technologies among corporates. NACHA found B2B payments made up 6 percent of the nearly 2 million same-day ACH transactions that occurred in the first 11 days the service went live. MORE

However, as demonstrated this summer, the country is not only embracing digital payments, but increasingly attracting competition from some of the biggest players in the industry. That certainly presents a challenge for anyone bent on moving consumers to digital payments, but that doesn’t mean the effort is slowing. The country is expected to have a digital payment market worth $1 trillion by 2023, a figure that represents “fivefold” growth from now, according to an estimate. 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

trillion in 2017, and that could nearly double by 2021 — online billing platforms are rushing to incorporate payment processing capabilities into their offerings. That’s according to the new “ Payments Powering Platforms Tracker ” from PYMNTS. MORE

’s Big Four auditing firms, PwC, is teaming up with a small tech firm to make it easier for small businesses to make payments. Its small business mobile app, dubbed My Returns Reminder, provides small businesses with notifications about their HMRC payment deadlines, including corporation tax, confirmation statements and VAT payments. While the platform cannot facilitate payments themselves, the solution intends to help small businesses prevent late fees. MORE

Stripe, the payments company, announced on Monday (Sept. 17) the launch of Stripe Terminal, a product that will enable online businesses and platforms to accept in-person payments with Stripe. In a press release, Stripe said Stripe Terminal extends its infrastructure to the physical world, enabling developers to build custom payment experiences for in-person transactions in the same way they have been doing it for online merchants. MORE

But it’s only a prototype — one invented by high school seniors in the San Francisco Bay area — that could one day change how blind consumers handle payments and commerce, along with other daily tasks. Payment Features. The payment features are supported by APIs from Visa. MORE

NACHA has tapped AeroPay Express as its newest Preferred Partner for B2B Electronic Payment Enablement, the organization said Thursday (Sept. As a Preferred Partner, AeroPay Express is part of a larger group that supports NACHA’s efforts to promote payments innovation. The group is focused on addressing issues like payments friction and access to cash flow, as well as security and risk management of ACH payments. MORE

What does the future hold for the plastic payment card? Such questions are addressed in a new PYMNTS story that features an interview with Sebastien Clamagirand, general manager of secure payment and identity at NXP Semiconductors. The payment card has “a long life ahead of it,” he told Karen Webster. Even if you consider technologies like mobile, you can see that the consumer is still paying with payment cards.”. MORE