PaymentsSource

FedNow Will Have a Hard Time Stopping Fraud

FedNow Will Have a Hard Time Stopping Fraud

The way in which we process payments here in the U.S. market has undergone significant change over the years. That said, the Automated Clearinghouse (ACH) process itself has remained fairly static, at least up until now. That’s all set to change, with the Federal Reserve’s recent announcement of its FedNow service.

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What Google’s Fitbit Deal Means for Wearable Payments

What Google’s Fitbit Deal Means for Wearable Payments

Bloomberg News The smartwatch market is expected to more than double over the next five years as use cases expand for fitness, health care, payments and controlling other devices, according to ResearchandMarkets.

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Static Authentication Stands in the Way of Contactless Progress

Static Authentication Stands in the Way of Contactless Progress

When it comes to new payment technologies, it’s often difficult to know what consumers are thinking, and banks have a lot on their plates. Aligning a transformation strategy with the desires of consumers is an interesting chart to plot. One thing that’s clear is both banks and consumers have embraced contactless.

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Big Tech Is Turning Banks Into Dinosaurs

Big Tech Is Turning Banks Into Dinosaurs

People still need banking services. But banks? How sustainable are they in 2019? That’s another matter. A traditional piece of banking business business model is going away. Namely, they will no longer make money off of money. Doing so is no longer profitable. High interest rates are gone and they are never coming back.

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How Retailers Benefited From the MCX Mobile Wallet’s Failure

How Retailers Benefited From the MCX Mobile Wallet’s Failure

CHICAGO — If the retail giants’ Merchant Customer Exchange payments venture collapsed under the weight of trying to create a one-size-fits-all mobile wallet to bypass card networks, then the implosion of that joint venture was the best thing that could have happened.

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Banks and Payment Startups Will Sink Without Alliances

Banks and Payment Startups Will Sink Without Alliances

More in There’s been talk for years of fintechs disrupting banks. But the reality is that banks and fintechs depend on one another more than they compete. Fintechs rely on banks for the foundation of their offerings, and banks rely on fintechs to provide their customers more modern capabilities and experiences.

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China’s ‘Pays’ Could Lead a Crypto Market, but the Government Won’t Let Them

China’s ‘Pays’ Could Lead a Crypto Market, but the Government Won’t Let Them

China appears to have a lot of the advantages to pull off a move similar to Facebook Libra, but there are plenty of factors working against it.

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The U.S. Needs to Counter Libra With Government Backed Crypto

The U.S. Needs to Counter Libra With Government Backed Crypto

Never did the expression “beat them at their own game” have more importance than with the Congressional hearings regarding cryptocurrencies. Now is the time for the U.S. government to act by issuing a government-backed cryptocurrency regulated by the Federal Reserve Bank.

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How Fiserv’s Purchase of First Data Helps It Tackle False Declines

How Fiserv’s Purchase of First Data Helps It Tackle False Declines

An acquisition as large as Fiserv’s deal to buy First Data has lots of moving parts, but one big piece may be a new First Data product that’s designed to improve the vexing problem of payment approvals.

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PayThink 3-D Secure Takes the Security/friction Balance Out of the Dark Ages

PayThink 3-D Secure Takes the Security/friction Balance Out of the Dark Ages

As card-not-present (CNP) transactions across e-commerce, m-commerce and remote commerce rise, so does fraud. Adding security without simply creating more points of friction is a real challenge, but one that the EMV 3-D Secure protocol – EMV 3DS for short – is trying to combat.

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Why Uber, Grab Are Taking Bigger Steps Into Fintech

Why Uber, Grab Are Taking Bigger Steps Into Fintech

More in Ride-sharing heavyweights Uber and Grab built their markets by making payments seamless, and their expansion plans are similarly hooked into improving payments and other financial services.

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BofA to Reissue 4 Million Cards in Rapid Contactless Push

BofA to Reissue 4 Million Cards in Rapid Contactless Push

While major card issuers such as Chase and Wells Fargo roll out NFC-enabled credit and debit cards incrementally, Bank of America is taking much more aggressive approach. In New York, Boston and San Francisco, BofA will force a mass NFC upgrade by mailing new contactless credit and debit cards to all of its consumer card […]

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