Payments Processing

Travel Companies Struggle With Processing Costs

The global travel industry generates approximately $1.4 trillion in revenue annually and, in doing so, spends 5.4 percent of its revenue processing payments. In fact, worldwide airlines, travel agencies and hotels spend some $75 billion per year to pay their payment service providers.

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Why Banks Fear Core Systems Change

I was listening to a group of CIOs talking about legacy systems change the other day. One said that it doesnt matter how old the systems are; its all about whether they are maintainable and fit-for purpose.

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Banks Unlikely to Process Payments With Distributed Ledgers for Now, Says Ripple

Banks are unlikely to use distributed ledgers to process cross-border payments for now because of scalability and privacy issues, according to Ripple, one of the most prominent startups developing the technology. I will concede, we haven’t gotten there yet, Ripple’s chief cryptographer David Schwartz said in an interview.

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PayPal’s Power Play to Capture Payment Processing Industry

PayPal went to market…and made another merchant-related acquisition. That’s right, within weeks of acquiring iZettle, the European-based payment processing company that caters to small merchants, PayPal made another acquisition that augments the overall package it can offer merchants looking for its services.

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Intuit Stops Processing Payments on Gun Sales

Several gun-related businesses were suddenly and without warning disrupted in recent weeks when Intuit stopped processing credit card payments because sales were gun-related, The Post has learned.

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New Payments Architecture: The Next Big Innovation in Payments

The future of payments in the UK was outlined in a strategy paper published in November 2016 by the Payment Strategy Forum, and work on delivering the recommendations from the report – namely designing and implementing NPA – has been passed to a dedicated body, the New Payment System Operator (NPSO).

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Westpac Moves All Core Banking to Cloud as It Plans Total Transfer

Cloud transformation projects have proved cheaper and faster Westpac made the jump and moved all its core banking applicationsinto its brand new private cloud environment, which will allegedly make its development ten times faster and three times cheaper.

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Visa Card Payments System Returns to Full Capacity After Crash

Visa’s payment system is operating at full capacity after a hardware failure affected customers in the UK and the rest of Europe on Friday.

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Banking Playing Catch Up in Technology – Conceding Battle for Payments

According to the 2018 Global Retail Banking Report from The Economist Intelligence Unit and Temenos, global banking organizations are focusing on advanced technologies, customer experience and security of data in their efforts to keep pace with consumer expectations.

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More Than 70% of Retailers Run on Outdated Paytech

Research from Barclaycard has revealed that more than seven in ten retailers haven’t introduced any new payment technology to their website in the last two years.

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AmEx Is Likely to Become the Second Largest U.S. Card Processing Company This Year

The U.S. card processing industry is likely to see a shakeup among the four incumbents for the first time in decades, as American Express looks poised to nudge ahead of MasterCard to become the second largest processor of credit card purchases in the country later this year.

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Choosing the Right Payment Processing Partner

When a software solution is paired with value-added services such as integrated payment processing, it enhances the merchant’s ability to streamline daily operations.

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