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Fintech Leaders Named to Roles at Push Payments

December 7 – Push Payments, a leader in real-time payments, named several executives to key strategic roles in the organization. The individuals come “from the largest and most dominant fintech companies in the payments industry,” it said in a release.

Travis Dulaney, CEO of Push Payments, said “Don Mileff, Khuram Ahmad, Sabrina Ho, and Jamie Luangaphay have all made strong commitments to help drive the real-time payment evolution.” 

• Mileff has 25 years of system architecture and payment experience ranging from mobile to payment processing environments. He has provided leadership and defined technologies across a few of the largest in the world such as Samsung Pay, Bank of America and Wells Fargo.

• Ahmad brings 17 years of payments experience and has successfully launched numerous award-winning programs and held leadership roles at Fiserv, Google and FIS.

• Ho has over 20 years of Fintech technology experience ranging from helping to build the first prepaid platform, Wildcard Systems to major initiatives within American Express.

• Luangaphay has over 10 years of finance experience with large financial institutions such as Bank of America and BankUnited.

“These folks are consummate professionals with an immense knowledge of the payments industry,” said Bob Chevlin, Chief Innovation Officer of Push Payments. “With more than 70 years of combined banking, payments and technical experience under their belts, they are poised to make an immediate impact and bolster our existing team of industry professionals.”

About Push Payments Push Payments is a real-time payments processor located in Fort Lauderdale, Fla., specializing in the immediate transfer of value between a multitude of accounts types. Push Payments delivers easy-to-implement API solutions that allow their clients to facilitate credit push transactions in seconds while providing a suite of features, that allow them to be more competitive, experience greater operational efficiency, include additional data all while providing complete Regulatory transparency and Compliance in this heightened era of Risk Management. Their unique, directly integrated, multi-modal payment platform offers maximum flexibility for companies that look to take control of their cash flow while reducing cost.

As Electronic Payments and Invoicing Increase, So Do Concerns About Cybersecurity

December 5 – As every facet of the financial services industry faces the imminent shift to digital platforms, more than one-third of treasury and financial professionals have heightened awareness of the growing risks of fraud and cyber-attacks, shows TD Bank’s Treasury Management Survey. Heading into 2017, corporate treasury and finance professionals cite protecting assets, securing transactions and cybersecurity as top priorities.

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Over Half of U.S. Adults Are Using Mobile Payments at Merchants Online or in Stores

October 26 – New research presented in the latest Insight Summary Report from Mercator Advisory Group’s CustomerMonitor Survey Series, titled “Mobile Payments: Market Leadership Is Up for Grabs,” reveals that over half of smartphone owners in the United States have used their mobile device to pay for goods and services in stores or online. As smartphone ownership reaches 78% ownership among U.S. adults, most consumers have used their phones for mobile shopping.

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ATM, Mobile Banking, and Mobile Payments Are Converging for Convenience of Banking Customers

October 21 – ATMs have evolved over the past half-century from a basic cash withdrawal appliance to the foundation of today’s self-service banking. In new research, 2016 ATM Market Benchmark Report, Mercator Advisory Group reviews how the ATM, mobile banking, and mobile payments are converging for ever-more convenient customer interaction with banks and credit unions.

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U.S. Payments Forum Market Snapshot: Status and Priorities of U.S. EMV Chip Card Migration

October 17 – The U.S. Payments Forum has released its fall 2016 market snapshot, providing statements on the status of the U.S. chip migration, its impacts on the U.S. market, and upcoming priorities and recently-released resources for moving the transition forward. The U.S. Payments Forum, formerly the EMV Migration Forum, is made up of constituents from the entire payments ecosystem and has been the source for EMV implementation guidance since the start of the migration in 2012.

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ICBA Proposal Offers Safe, Ubiquitous Path to Faster Payments

October 10 –  The Independent Community Bankers of America (ICBA) and the North American Banking Company submitted their proposal to the Federal Reserve Faster Payments Task Force for a ubiquitous, secure and efficient faster payment system in the United States. The proposal includes a white-label mobile application and a payments directory to enable secure transactions that clear and settle through the ACH network using Same-Day ACH.

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U.S. Payments Forum Provides Guidance on Optimizing Speed of EMV Transactions

October 6 –  Many cardholders and merchants have highlighted EMV transaction speeds as an area for improvement as the U.S. continues its migration to EMV chip technology. To provide guidance for issuers and merchants on speeding up EMV transaction times, the U.S. Payments Forum has released a new white paper that provides details on three approaches: “faster EMV” solutions, contactless/Near Field Communication (NFC) transactions, and EMV checkout optimization.

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Fintech, Payments and Banking

Creating opportunities by leveraging fintech and payments industry knowledge

By Chris McNulty

It has been many years since the local community bank required only a reasonable delivery of core banking skills to thrive. Yet most community banks still think of their business clients and payments in two separate ways. One is related to merchant services and how to provide this critical service to their business clients. The other is a more traditional cash management view of payments led by the need for ACH payments and bill pay functionality.

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linked2pay Adds Real-Time Merchant Approval With Automated Onboarding to Bank Centric Payments

September 21 – linked2pay, the platform provider of Bank Centric Payments, has added automated merchant approval and onboarding. This removes a major barrier for acquirers and ISOs by greatly simplifying the option to add ACH and Remote Deposit Capture (RDC) for new or existing card merchants.

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SunTrust: Electronic Payments Can Help Businesses Combat the Number One Cause of Fraud

September 9 –  Even in the internet age, companies still make more than 57 percent of all payments through paper-driven processes and checks, according to a survey by SunTrust Banks, Inc. (NYSE: STI) of middle market and small business executives. Not only can these non-electronic processes have a negative impact on a company’s cash flow and balance sheet, but also they can significantly increase exposure to fraud.

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