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.
Search Results: Payments
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.
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.
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.
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.
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.
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.
August 16 – Independent ATM owners, banks and credit unions preparing to migrate to EMV chip technology at their ATMs can get important planning information and implementation best practices by attending a U.S. Payments Forumi workshop in Chicago this September. With the first fraud liability shiftii for the ATM industry approaching this October, this timely workshop will provide a non-technical review of the critical components of the EMV implementation process.
August 2 – Early Warning, the industry leader in real-time payments, authentication and risk mitigation, has signed an agreement with Visa to enable person-to-person (P2P) payments on its clearXchange network using U.S.-issued debit cards through the Visa Direct platform.
July 27 – U.S. Bank and accounting software company Sage have announced a new partnership for the benefit of their mutual North American customers. The introduction of AP Optimizer™, built by the bank on the Sage Live accounting platform, marries practical, cost saving information – like the best time to pay bills and the best method for payment – with easy-to-execute action to help U.S. Bank’s business customers maximize cash flow. Users can act on the tool’s recommendations from any computer or mobile device.