Open Banking Excellence

JANUARY 9, 2024

Consumer expectations are rising as regulators push for increased competition and innovation to meet evolving consumer demands. All payers need to do is authenticate the payments via (desktop or mobile) online banking and funds are sent directly to the insurance merchant.

Payment APIs and Integration 130

Payment APIs and Integration Payer Online and Mobile Banking Authentication 130

PYMNTS

SEPTEMBER 26, 2019

That consideration includes assessing the potential benefits and risks that come with the two fundamental types of bank payments: push and pull transactions. This month’s Deep Dive explores how push payments speed transactions, as well as the benefits and potential challenges of their use in real-time payment systems.

Payer 67

Payer Push-to-Card Real Time Payments Payee 67

PYMNTS

SEPTEMBER 24, 2019

Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits. Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits. Around the Faster Payments World.

P2P 98

P2P Faster Payments Push-to-Card Point-of-Sale (POS) 98

PYMNTS

SEPTEMBER 23, 2020

Payment innovators are migrating toward making payments nearly invisible to the payer, with the goal of enabling the movement of funds so seamless and friction-free that the user is less able to identify that a transaction is even taking place. FinTechs have had to take on a leadership role to embracing an imbedded payments experience.

Non-Bank 126

Non-Bank Payment APIs and Integration Debit Card Push-to-Card 126

PYMNTS

NOVEMBER 3, 2020

The new guide further notes that “consumers and larger businesses are not the only ones that want speedy transactions, with a PYMNTS survey finding that many microbusinesses are more likely to partner with payers that offer instant payment experiences. To paraphrase the movie “Top Gun” … “We feel the need … the need for speed.”

Real Time Payments 109

Real Time Payments RTP Same Day ACH Payer 109

The Payments Association

OCTOBER 14, 2024

To rethink the assumptions behind CBDC proposals and push for more privacy-oriented innovative solutions Many central banks and financial authorities worldwide are experimenting with central bank digital currency (CBDC), including the European Central Bank, the US Federal Reserve, and the Bank of England, among others. Why is it important?

Privacy 88

Privacy Addressing CBDC Payer 88

PYMNTS

SEPTEMBER 28, 2016

Corporate payments firm WEX is pushing virtual card technology within Latin America and has announced a new partner to help the cause. Argo will integrate WEX’s virtual card number (VCN) technology as an additional payment option for its corporate and travel agency clients.

Payer 64

Payer Push-to-Card B2B Reconciliation 64

PYMNTS

OCTOBER 10, 2019

That includes the discussion of push payments (in which the account holder sends the money) and pull payments (in which the recipient is authorized to take money from the account). With push payments, the consumer is always in control of a transaction,” LaFleche said. That’s a huge benefit.”. Pull Payment Trends.

Real Time Payments 80

Real Time Payments Push-to-Card Payments Debit Card 80

PYMNTS

APRIL 21, 2020

Today’s unprecedented market environment has businesses finally taking the plunge to migrate away from checks as payers seek digitization and payees seek transaction visibility. Visa Enables Commercial Push Payments For KyckGlobal. Just which payment rail they will migrate to, however, remains unclear.

NACHA 82

NACHA Correspondent Bank Real Time Payments Push-to-Card 82

PYMNTS

DECEMBER 11, 2020

In a podcast with PYMNTS, Todd Tracey , executive director at MPX , Deluxe Corporation said online platforms can bring providers and payers together in a way that improves transparency and cash flow — especially when providers are paid for one-off or out of network services. The problem is they just can’t get rid of that check.”. he said.

Payer 67

Payer Checks Push-to-Card Commercial Card 67

PYMNTS

OCTOBER 5, 2016

Today, accounts payable firm MineralTree announced a collaboration with Visa with a goal of helping corporates pay their suppliers by virtual card. But the commercial card is hardly the most preferred method of payment for suppliers, and that fact could mean adoption challenges for MineralTree and Visa’s new tool. Buyer Control.

Accounts 73

Accounts Commercial Card Push-to-Card ACH 73

PYMNTS

MARCH 30, 2020

DadeSystems CMO Tom Berdan told PYMNTS in an interview, “We basically woke up to a new world relatively quickly.” Now, more than ever, he says, cash and cash collection are vitally important to organizations. Corporates have fixed and variable expenses, and, now, they are trying to manage them with renewed concerns.

Lockbox 60

Lockbox FinTech Payer Push-to-Card 60

PYMNTS

JANUARY 13, 2021

Michael Shields , business line executive at FIS , told PYMNTS in a recent interview that artificial intelligence (AI) can streamline and modernize the order-to-cash process and improve collections on outstanding invoices, freeing up resources for innovation and improving relationships between buyers and suppliers. Improving Cash Flows .

Process 94

Process Accounts AI Lockbox 94

Fintech Finance

APRIL 11, 2024

Verituity , a leading provider of intelligent, verified payout solutions, today announced the integration of Mastercard Move , Mastercard’s portfolio of domestic and international money transfer solutions, into its payments platform, enabling near real-time payouts for commercial banks and payers.

Cross-Border 52

Cross-Border Visa Near Real-Time Payee 52

PYMNTS

NOVEMBER 5, 2018

What is clear, though, is that ACH is a growing part of businesses’ accounts payable (AP) and other payment operations, with industry service providers pushing corporates away from paper checks. New data has emerged about how SMBs use other payment rails , including cards and wire transfers. NACHA said 43.2

Small Business 68

Small Business Same Day ACH Wire Transfer NACHA 68

PYMNTS

NOVEMBER 26, 2018

Adoption of commercial cards in B2B payments has emerged as one of the hottest industry topics of the year thanks to new FinTech innovations and industry leaders like Visa and Mastercard making a push further into the market. These are optimistic observations for an industry where commercial cards have struggled to get off the ground.

Commercial Card 68

Commercial Card B2B Small Business Push-to-Card 68

PYMNTS

MARCH 19, 2019

And it’s grand strategy at that, with cross-border linkups that anticipate and facilitate (and, yes, spur) the move from cash to paying online or with cards. It’s a mighty striving to push together the network, the platform and the use cases.

Cross-Border 76

Cross-Border Push-to-Card Use Case Payments 76

PYMNTS

JANUARY 14, 2021

He is a program manager for the Consumer Directed Payer Data Exchange, or CARIN Alliance , a bipartisan organization. One major concern for consumers with this post-pandemic push is privacy. We are kicking off the most significant vaccination effort in the history of the United States. Mitre Corp.,

Credential 60

Credential Privacy Payer Push-to-Card 60

PYMNTS

NOVEMBER 9, 2017

That complaint highlights the challenge consumers and businesses face when getting hit by so-called push payment scams, in which an individual or company is tricked into sending money to a fraudulent account to pay for goods or services. Because payers willingly initiate the bank transfer themselves, liability has remained on the payer.

Scams 40

Scams Business Email Compromise Email Compromise Payer 40

PYMNTS

NOVEMBER 20, 2018

With payment bigwigs like Visa , Mastercard and American Express pushing further into the B2B payments space, commercial card adoption is being driven by more than growth in the number of card products available. “It streamlines payments and ease of paying by card,” Weiss told PYMNTS in an interview.

Commercial Card 47

Commercial Card Risk Push-to-Card Reconciliation 47

PYMNTS

SEPTEMBER 19, 2018

Business cards and document pouch? Jolly, head of financing and channels in global transaction services at Bank of America Merrill Lynch , about the financial institution’s latest product launch: adding mobile wallet functionality to its suite of commercial card products. “We Polished shoes and nice jacket? Company-issued plastic?

B2B 56

B2B Push-to-Card Commercial Card Point-of-Sale (POS) 56

FICO

OCTOBER 10, 2018

In August, the UK’s Financial Ombudsman joined the debate on authorised push payment fraud. The pressure for banks to tackle push payment fraud is mounting – and even if liability isn’t transferred wholesale to the banks, the scope for bad publicity and loss of reputation is significant. Banks are not powerless to tackle the issue.

Push-to-Card 56

Push-to-Card Payments Authentication Crime 56

M2P Fintech

MARCH 28, 2024

without requiring a traditional bank account or debit card. without requiring a traditional bank account or debit card. This technological approach eliminates the use of physical cards or PINs during financial interactions. Unlike physical cash or bank deposits, CBDCs are purely electronic.

FinTech 59

FinTech Online and Mobile Banking Push-to-Card Payer 59

PYMNTS

MAY 6, 2019

Customers, on the other hand, need to be assured that their PII, such as credit card or bank account numbers, will remain safe. . A top goal among payments solutions providers is to make these problems as infrequent as possible — and to do so, many are turning to push payments. . The scenario is reversed for push payments.

Push-to-Card 44

Push-to-Card Risk Debit Card B2C 44

PYMNTS

JUNE 3, 2020

As the report noted, “[online] bill payments currently made to providers and payers via automated clearing house (ACH), check and debit cards are particularly likely to be replaced by real-time methods by 2022.”. Pushing Past Paper. For many, it’s very difficult. Real-Time Payments Get Healthy.

Faster Payments 63

Faster Payments Payments Checks Push-to-Card 63

PYMNTS

AUGUST 8, 2019

The competition is heating up between payment technologies in accounts payable, with ACH and virtual cards seeing significant pushes in the B2B payments space to combat the dreaded paper check. For many businesses, which payment tool is best depends on many factors, from what their vendors prefer to payers’ own cash positions.

Accounts 57

Accounts ACH B2B Payments 57

PYMNTS

APRIL 20, 2017

Can push payments make the push into full acceptance by consumers and corporates? In envisioning just what the concept of “push” payments means, Edwards said one need only think about how pull payments work. If there is an exchange of an item or a return, the data flow is simply reversed, and money goes back onto that card.

Push-to-Card 42

Push-to-Card Ubiquitous Checks Credit Cards 42

FICO

JUNE 26, 2018

We’ve already seen the impact of authorized push payment fraud on them, even when payments are not cleared on the same day. launched a ‘super-complaint’ based on the experience and losses of people who have been victims of authorized push payment fraud. Real-Time Payments Equal Real-Time Crime.

Real Time Payments 63

Real Time Payments Instant Payments Irrevocable Payment Irrevocability 63

PYMNTS

AUGUST 12, 2020

In this week’s roundup of open banking initiatives and bank-FinTech tie-ups, PYMNTS finds a renewed push to strengthen SMB banking experiences including financing, account management and more. Agora Services To White-Label Technology. Over in the U.K., Reports in P2P Finance News said Funding Circle U.K.

Small Business 77

Small Business Push-to-Card Credit Union Payer 77

PYMNTS

JANUARY 3, 2020

Driven by faster phones, ingenious apps and sheer market force, the move to instant is pushing the boundaries of what’s possible with payments, opening up new worlds of risk and reward. Rarely do consumers and businesses agree on anything as much as they have on instant. FinTechs led this charge and fueled much of the innovation.

Instant Payments 60

Instant Payments Payments Ubiquitous Push-to-Card 60

FICO

SEPTEMBER 20, 2017

The Financial Conduct Authority issued a consultation in 2017 called the ‘Credit card market study: consultation on persistent debt and earlier intervention remedies’ that was completed in July. Mobile push notifications: Effective and real-time. Options for Contacting Customers. This is a highly effective real-time channel.

Rules 60

Rules Issuers Push-to-Card Credit Cards 60

PYMNTS

JUNE 6, 2019

Business consultancy CGI has announced a collaboration with invoice payments FinTech Ordo to develop a service that combats fraud for both payers and payees. Ordo enables billers to immediately receive funds when they submit an electronic invoice as an alternative to paper invoice processing and card payment costs.

Payee 48

Payee Payer Push-to-Card Payments 48

PYMNTS

JANUARY 17, 2020

” Perhaps the most obvious reflection of this challenge can be seen in the commercial card space. Accounts payable (AP) automation technology has hit the ground running, with solutions designed to accelerate invoice processing, optimize payment strategies and promote digital adoption. ” Finding A Middle Ground. The result?

Faster Payments 61

Faster Payments B2B Small Business Venmo 61

Payment Savvy

JUNE 12, 2023

Nine times out of ten, the payment will go through once the payer has checked account funds – and checked the correct account is linked – before trying again. There are several reasons why a ‘Venmo payment declined’ issue might exist. Why Is Your Venmo Transaction Being Declined?

Venmo 52

Venmo Payments Payer Card Issuer 52

PYMNTS

SEPTEMBER 10, 2019

The B2B payments discussion often centers around innovators’ efforts to kill the check. Unfortunately, simply introducing an electronic alternative to paper checks is not enough to kill this sticky and popular payment method. B2B Payments’ Innovation Agenda. According to Phalen, that includes speed, transparency and global scale.

B2B 59

B2B Cross-Border Payments Payer 59

PYMNTS

OCTOBER 29, 2020

They face an array of options to help them with their acceleration efforts, with some choosing to start delivering payroll via push-to-card offerings or directly into workers’ digital wallets, for example. It is no secret that they are a slow way to deliver funds, however. Vendors are not the only ones feeling the pain, either.

Faster Payments 43

Faster Payments Same Day ACH Real Time Payments Payroll 43

PYMNTS

OCTOBER 23, 2017

And while industry experts agree there are payment rails far better than checks — like ACH and virtual cards — making the switch isn’t just about presenting a better option to corporate payers. There are still a lot of checks and traditional means of pain that businesses have not been able to move away from.”.

B2B 45

B2B Payee ACH Payer 45