PaymentsJournal.com
@paymentsjournal
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PaymentsJournal is a free, comprehensive online information portal designed to keep payments and banking industry professionals informed -
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J.P. Morgan Chase Axes Popular Debit Card Feature
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15
In case you missed it. We sat down with
@michel_roig
@fingerprintcard
to talk about
#Biometric
#SmartCards
. In our latest PaymentsJournal
#podcast
episode.
0
5
15
Two weeks ago, we wrote about the firm’s solid performance, with double-digit growth in the retail card business, and 7% growth in the CareCredit business unit.
@synchrony
#credit
#creditcard
#payments
0
6
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Consumers trust their banks. It is something we all know very well and
@Mastercard
looks to leverage this trust with bill payment. LISTEN TO THE FULL EPISODE HERE - Ronald Shultz Sarah Grotta
#payments
#billpay
#customerexperience
#security
#trust
1
3
12
Both
@IBM
and
@Microsoft
are all in on
#digitalID
and have already made commitments to specific open implementations, including the Hyperledger Indy project and the Sovrin Foundation.
@Mastercard
#payments
#ID
#identity
#security
0
5
11
Underserved U.S. immigrant populations will soon be able to sign up for a
#PrepaidCard
program offered by
@vivaentgroup
and
@alternasavings
. Mercator's Jordan Hirschfield shares the details.
2
3
11
This referenced posting in
@AmerBanker
discusses The Clearing House's (
@TCHtweets
) intent to increase
#singletransactionlimits
for
#RTP
to $100,000 from the current $25,000, to take effect on Feb. 1, 2020.
#fasterpayments
#realtimepayments
0
5
8
A new
@Fiserv
survey found that 75% of
#FinancialInstitutions
agree that the
#pandemic
has accelerated their prioritization of
#payment
transformation projects. Here's what they're looking for in an
#IntegratedPlatform
to stay competitive:
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10
0
6
9
1
4
8
Jagdeep Singh Sahota of
@BancOfCal
, Tanvi Patel of
@PwC
, Deepak Gupta of
@volantetech
and Albert Bodine of
@JavelinStrategy
explore
#cloud
#payments
, use cases, and how
#banks
can migrate to cloud without disrupting daily operations.
Read more:
#PaaS
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"The perception is ACH and checks are free and card acceptance cost a lot of money." - Dean M. Leavitt. But is that the reality of payment acceptance for businesses? LISTEN TO THE FULL EPISODE HERE -
#payments
#b2b
#paymentacceptance
@boostb2b
0
4
7
A Summary from
#Singapore
: Takeaways from the First
@money2020
Asia
#Mobilepayments
#biometrics
@fingerprintcards
0
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7
#Biometriccards
revolutionize
#paymentauthentication
౼ boosting
#security
in the customer
#payment
journey. Discover how these cards, with an embedded fingerprint sensor, are transforming transactions. Read more from Jesper Domargard of
@IdemiaGroup
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2
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This piece announces a new
#CrossBorder
capability as part of an MoU between Western Union and NIPL, the international arm of India’s NPCI.
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In 2020 the fintech industry witnessed ground-breaking changes and achieved goals that could have taken years. While the pandemic might be subsiding, the
#Fintech
industry isn’t showing any signs of slowing down.
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4
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More interesting insights come out about
#cash
from
@dieboldnixdorf
. You can view all the insights in a recent PaymentsJournal article published here -
#smb
#paymens
#cashless
#banking
#banklocal
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3
7
The
#metaverse
market size is estimated to be worth $1.5t by 2029. This means there may be $300b in crime-related transactions. The anonymity of transactions makes it more crime-friendly.
Read more from Matthew Leaney of
@_SilentEight
:
#cybercrime
#fraud
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3
6
Small business is BIG business! According to Ginger Siegel from
@Mastercard
in the U.S. alone, there are over 30 million small businesses that employ over 58 million people. Listen to the full podcast episode here
#smallbusiness
#GDP
#businesswomen
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3
7
The
#LightningNetwork
can handle potentially infinite transactions per second cheaply and efficiently while avoiding overburdening the
#blockchain
. It is still fairly new but it is also key to the success of the future of
#CryptoPayments
.
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"When people make a payment, they’re not thinking about the payment itself, they’re thinking about what they’re paying for what they’re buying or the experience that the payment will enable."
@Fiserv
#payments
#RTP
#fasterpayments
#podcast
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#P2P
and other
#digitalpayment
capabilities, like those offered in
@Zelle
, will become even more important for financial institutions looking to serve
#consumers
in during and after
#COVID19
. Here's more on why this is the case:
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1
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@Blackhawk
Thresa McEndree's recent contribution to PaymentJournal. They’d Rather Have a Gift Card. Here’s Why.
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#Fraud
management is not a one-and-done effort. It requires industry participants to add layers of protection. Do this to protect against fraudulent applications. Do that to shield against
#cardholder
fraud. Try this to counteract skimming, & on & on.
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In the long term,
#merchants
should update their
#payment
application to allow the option of not printing or displaying a signature line on receipts.
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Checkout our latest
#podcast
with
@wirecard
Kevin Brown. Were we discuss things like - Fifty-six percent of U.S. consumers are forecasted to transact something like $505 billion in
#mobilepayments
by 2020.
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There are a lot of myths about real time payments. Luckily we sat down with Colleen Taylor from
@Mastercard
to help dispell them on a recent episode of the PaymentsJournal
#podcasts
.
#payments
#realtimepayments
LISTEN TO THE FULL EPISODE HERE -
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Due to open banking, the payments industry is in the midst of its third major
#digital
transformation.
@Equinix
breaks down the 3 transformations and explains more about
#openbanking
in a
@paymentsjournal
podcast. Listen here ==>
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While historically competitive with one another,
#fintechs
and
#banks
can work together in a way that benefits both parties.
@AvidiaBank
's Cliff Thompson explains how:
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6
In case you missed it. We had a great conversation with George Coutros from
@ExperianClarity
and Brian Riley from
@MercatorAdvisor
about
#alternativedata
for
#lending
. You can listen to the full conversation here -
#podcast
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Check out a recent PaymentsJournal
#podcast
with Colleen Taylor, Sarah Grotta, and Steven Murphy discussing modernizing the payment system with real time payments. LISTEN TO THE FULL EPISODE HERE -
#payments
#realtimepayments
@MastercardNews
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What’s causing so many Americans to reject bank
#BillPay
? Simply put, consumers across every generation perceive it as cumbersome and lacking both visibility and
#payment
options. Learn from
@BillGOPayments
how modern bill pay drives
#revenue
for
#banks
:
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82% of
#consumers
agree that “
#banks
,
#retailers
, and other organizations involved in the
#credit
/
#debit
card industry need to do more to protect their personal card
#data
.”
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Change in the payments industry won't happen overnight but, for change to happen everyone in the value chain needs to participate. Colleen Taylor from
@Mastercard
discusses more on the PaymentsJournal podcast. LISTEN HERE -
#payments
#realtimepayments
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Check out our recent
#podcast
episode with
@BlueSnapInc
and
@MercatorAdvisor
as they talk about the global and mobile nature of the payments industry.
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People that have forecasted that
#India
could be a trillion dollar
#digital
transaction economy by 2025.
@ACI_Worldwide
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Since the
#pandemic
emerged, there has been about a decade’s worth of growth in
#eCommerce
. This means that
#merchants
failing to capture
#OnlineSpending
are not part of the game. Learn more from
@ondotsys
about how
#banks
can become
#TopofWallet
==>
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Listen now as Jareau Wadé of
@finix
; David Dew of
@DiscoverGlobal
; and Don Apgar of
@MercatorAdvisor
discuss the growing trend of
#ISVs
implementing
#PayFac
platforms to bundle
#paymentacceptance
into their software.
Listen to the full podcast:
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Rewards are a must have. 93% of credit union members receive some type of reward when using a card for payment. LISTEN TO THE FULL EPISODE -
@PSCUForward
#payments
#rewards
#creditunions
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66 percent of small business owners report that the time it takes money to process after receiving payment has the largest impact on their company’s cash flow.
#payments
#smallBusiness
@Intuit
#lending
#cashflow
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5
FULL PODCAST:
#ISO20022
was created to provide a common platform for sending and receiving payment data. Andrew Foulds of
@Fiserv
and Steve Murphy of
@JavelinStrategy
discuss the importance of ISO 20022, benefits, and the future of
#payments
.
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1
5
@BHMIsoftware
's CEO Jack Baldwin sees Concourse as being the
#gateway
into the
#realtimepayment
network.
#payments
@Zelle
#paymentrails
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Alternative
#data
allows
#lenders
to better assess
#risk
. We sat down with George Coutros from
@ExperianClarity
and Brian Riley from
@MercatorAdvisor
to discuss on a recent episode of our
#podcast
You can listen to the full episode here -
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#Fintech
companies see the value in making payments accessible through technological innovations. Mark Smith of
@awscloud
, John Anderson of
@Plaid
and Tim Sloane of
@MercatorAdvisor
, discuss how AWS and Plaid work to democratize
#payments
.
Listen Now:
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3D Secure 2.0 is going to be a HUGE improvement for merchants and customers. On this recent PaymentsJournal podcast episode I talk with
@TAS_Group
about the friction points of 3D Secure 1.0. LISTEN TO THE FULL EPISODE HERE -
#payments
#3dsecure
#psd2
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5
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With all the
#payment
related mergers lately they all boil down to organizations wanting to find better ways to service their clients. We spoke more about this with Bill Nichols from
@aevidomore
and
@RaymondLex
from
@MercatorAdvisor
LISTEN HERE -
#podcast
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Customer loyalty programs have been a staple of merchant marketing efforts for quite a while. But now merchants are finding that they need to go beyond simply offering a plain vanilla version
0
0
5
New surveys released by
@FICO
studying
#consumerbehavior
found that in the
#UK
, 71% of people were happy to provide
#biometrics
to their
#bank
, compared to 60% of Americans and 43% of
#Canadians
indicaing being comfortable with a biometric.
0
2
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Did you get your complimentary
@MercatorAdvisor
whitepaper sponsored by
@volantetech
focusing on payment hubs? Get your copy here-
#payments
#pyamenthub
#digitalecosystem
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5
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#Prepaid
has become the platform for
#payments
innovation. We sat down with Jennifer Tramontana and Sue Brown to talk
#innovation
, prepaid in Canada and more. Listen to the full episode here -
@CanadianPrepaid
@MercatorAdvisor
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Financial economic system in world has been growing rapidly since the past two decades. It has had a catalytic effect since the Government’s introduction and encouragement towards digitization of monetary assets & services.
#payments
#fintech
#blockchain
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2
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The growth of mobile and now
#IoT
payments means that banks need a back-end infrastructure that can flex to accommodate new payment-enabled form factors, including mobile devices,
#wearables
, smart fridges and soon,
#connectedcars
.
@netsgroup
#payments
0
2
5
When
@PSCUForward
's CEO is famous for not turning down a security project you know 3D Secure 2.0 is going to be a priority. We recently sat down with David H Ver Eecke to discuss. LISTEN TO THE FULL EPISODE HERE -
#3dsecure
#payments
#creditunion
#security
0
4
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What is the future of Payment Hubs?
@MercatorAdvisor
explains in a COMPLIMENTARY WHITE PAPER sponsored by
@volantetech
Read more here -
0
4
5
#PayFac
is becoming table stakes for
#merchants
. Merchants are clamoring for streamlined
#paymentacceptance
functionality. PaymentsJournal sat down with Jareau Wadé of
@finix
; David Dew of
@DiscoverGlobal
; and Don Apgar of
@MercatorAdvisor
.
Listen Now:
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1
5
At every step along the way,
#consumers
,
#billers
, and
#FIs
expect the
#BillPay
ecosystem to meet their individual needs. But–with each passing year–those needs grow increasingly complex and the already overtaxed ecosystem struggles to keep pace.
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4
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#ESG
, or Environmental, Social and Corporate Governance, is a set of values that is becoming a benchmark for companies across industries.
#SustainableFinance
has changed in perception from “nice to have” to “must-have.”
0
0
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“Freedom and choice are a core part of the American way of life,” says Brian Bailey from
@Cardtronics
, “and choice of payments is, in fact, no different.” LISTEN TO THE FULL EPISODE -
#payments
#cash
#consumerbehavior
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1
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#Consumers
are increasingly looking for fast and
#contactless
ways to
#pay
during their daily routines. Stopping for
#gas
checks this box, and now
@Stuzo
has partnered with
@Chevron
and
@Texaco
with an integrated
#MobileCommerce
solution. ⛽️
0
3
5
@FISGlobal
, known as one of the large core
#bankingsoftware
providers, has made major changes to its system to become a software-as-a service (
#SaaS
) provider. It is now as nimble as many
#communitybanks
, but with proven core
#banking
services.
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As faster and real-time payments start to evolve, I suspect this trend will only grow. This is a great trend for consumers and businesses on the receiving end. Let’s hope it doesn’t extend to “Daily Deducts”.
#payments
#fasterpayments
#gigeconomy
0
3
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There has been a decline of paper
#payments
and increase of
#contactlesspayments
, either through
#mobile
payment or tap to pay, even in formerly
#cash
and coin heavy
#vendingmachines
.
Read more from Jordan Hirschfield of
@MercatorAdvisor
0
1
4
#Mobile
and
#contactless
#payments
are only possible if
#merchants
have the infrastructure in place to support them. However, many merchants have legacy solutions that aren’t able to accept these methods due to the way they’re set up.
@ingenico
1
4
5
Mobile phones have some great unique capabilities that banking applications should take advantage of. The question is, is your financial institution taking advantage of these opportunities? Learn more from this episode with
@ondotsys
@MercatorAdvisor
0
3
5
A major Same Day
#ACH
rule change is taking effect today.
@NachaOnline
has raised the per-transaction dollar limit on Same Day ACH payments to $100,000. Read more here ==>
0
5
5
What is more painful than paying bills? Setting up
#bank
#billpay
. We sat down with Ron Shultz and Sarah Grotta to talk about how that is going to change. LISTEN TO THE FULL EPISODE HERE -
#payment
#banking
#customerexperience
@Mastercard
@MercatorAdvisor
0
5
5
#Contactless
payments are on the rise. In a recent PaymentsJournal
#podcast
,
@InComm
's Kia Lee explores
#QR
code adoption in the United States and what benefits this touch-free
#payment
method offers. Learn more:
0
1
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One example for
#blockchain
is the utility of smart contracts, where centrally accessed documents can be interwoven with logistics events to initiate a transcation, such as an interim
#payment
.
#supplychain
#IoT
#AI
#wearables
0
2
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Now that
@NachaOnline
has increased the per-transaction dollar limit on Same Day ACH payments, the organization is setting its sights on bringing more innovation to the
#ACH
Network. Learn what the future has in store here ==>
0
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4
0
2
4
0
1
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Looking to create a new
#digital
#platform
?
@D3Banking
lays out 3 best-practice companies should consider. Read the full article here -
0
2
4
#Banking
has not changed on a fundamental level, but products have become more
#commoditized
. Hear
@Finacle
's Sanat Rao explain why this matters and what
#commercialbanks
need to know about the growing trend of
#digitization
in the industry. ==> <==
0
1
4
Last friday,
@NachaOnline
increased its per-transaction dollar limit on Same Day ACH payments.
@NachaOnline
's
@michaelherd
sat down with
@paymentsjournal
to discuss the rationale behind the changes and what this means for the industry. Listen here ==>
0
2
4
"
#ArtificialIntelligence
should be used beyond fraud detection to improve operational efficiency and better engage customers it will almost certainly need to scramble to catch up." Tim Sloane
@MercatorAdvisor
#AI
#fraud
#machinelearning
0
3
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What are the top 3 things on Chief Data Officer's minds? We sat down with Randy Koch from ARM Insight Inc. and Tim Sloane from Mercator Advisory Group to find out. Listen to the full PaymentsJournal
#podcast
here -
0
1
4
Amazon was initially planning to launch its
#NFT
marketplace last year. However, the collapse of FTX delayed the launch. The launch is set for April 2023. Consumers can purchase NFTs via a
#creditcard
or
#debitcard
using their
@amazon
account.
Read more:
0
0
4
Is the bill payment market ripe for disruption?
@Mastercard
thinks so. Read the full PaymentsJournal article here -
#payments
#financiaiinstitutions
#disruption
0
1
4
The global
#payments
industry has experienced stratospheric growth, with businesses shifting to
#ecommerce
as consumers’
#shopping
behavior has increased. We sat down with Brian Riley of
@MercatorAdvisor
to get his take on global payments.
Read more:
0
2
4
It’s the
#gamification
of these programs that get loyal customers to stop by more often and spend more. Let the games begin.
#payments
#QSR
0
2
4
Check out our recent
#podcast
episode with
@Fiserv
and
@MercatorAdvisor
as we discuss the ripple effect of fraud on the payments industry.
#fraud
#payments
#databreach
#security
0
2
4
Federal authorities are investigating compliance allegations against Block. A former employee claims it processed cryptocurrency transactions for terrorist groups, and that Square performed unreported transactions in countries under sanctions.
Read more:
0
1
2
Mike Kresse of
@FISGlobal
and Brian Riley of
@JavelinStrategy
discuss how
#realtimepayments
will play out in the
#B2B
sector and how the U.S. rollout will differ from how it played in other countries.
Read more:
#payments
#RTP
#FedNow
0
1
4
Several big banks are developing a
#digitalwallet
using
@EarlyWarningLLC
’s platform. It will launch later this year and aims to “address longstanding payment problems in
#ecommerce
.” Roughly 150m
@Visa
and
@Mastercard
cards will be connected.
Read more:
0
1
4