Tokens use encryption to protect sensitive payment information while allowing merchants and payment service providers (PSPs) to easily store this customer data for smoother, safer transactions. This provides numerous benefits including better customer experiences, more successful transactions and improved ability to store payment and...
Digital transformation for banks and credit unions in the U.S. is ripe with opportunities, some of which can strengthen customer relationships in ways that only a few years ago would have been scarcely imaginable. With the help of artificial intelligence (AI), direct connections and instant...
Payment gateways might be thought of as the workhorses of fund flows, whether it’s for B2B or consumer-facing transactions. It’s the technology that gets payment data moving. But with the emergence of new technologies — particularly APIs and payments automation — gateways can be used...
Call it one more unpredictable turn in an unpredictable year. As the convergence of financial technology gets closer to consumers and businesses, the focus on money movement takes a twist toward an area where money is usually at rest: deposits. “If you think about where...
It’s still premature to say that open banking and pay by bank have truly arrived in the U.S. However, with the Consumer Financial Protection Bureau (CFPB) issuing the final Rule 1033 draft on Oct. 22, they certainly have more momentum. The ruling seems to have...
Keeping pace with innovation can be daunting. For small- to mid-sized banks, credit unions and FinTechs, implementing the latest money movement integrations like real-time payments and more can be a steady drain on at least three fronts: time, resources and money. That’s where the concept...
As we head into the fourth quarter of arguably the most innovative year in payments since the pandemic, the liberation of capital is emerging as the story of the year. Money movement is becoming intuitive and friction-free, a part of what happens in the background...
There’s no shortage of analysis of the various use cases where payments, credit and other offerings can be delivered outside the realm of traditional financial services. But maybe what’s needed is more conversation about how it all needs to be delivered — and what gets...
Although the technology has come a long way in a short period of time, it’s not like an organization can hit a switch and migrate to the cloud. Not yet, anyway. Migrating to the cloud can be a complex undertaking, particularly for banks with legacy...
