Short of a major data breach, it could be a financial technology executive's worst nightmare: a critical piece of software crashes, disrupting an important and highly visible activity like processing consumer payments or setting net asset values for mutual fund clients.
CHICAGO The mobile commerce revolution is pressuring legacy payment companies to quickly diversify to stay relevant, leading Discover Financial Services to build a gateway where merchants can add digital transactions and other services.
What happens when you combine mobile wallets with the emerging hype about beacons? You get a winning combination for retailers that boosts shopper loyalty and in-store spending.
Young people have a much different relationship with credit, requiring retailers to find different ways to enable financing to encourage larger purchases.
CHICAGO Financial institutions have fallen behind the payments innovation curve, though they can catch up quickly by adopting the faster payments initiatives that are accompanying mobile and digital transactions.
CHICAGO Heartland Payment Systems CEO Bob Carr will never be accused of not making his feelings known about the Merchant Customer Exchange mobile wallet venture.
CHICAGO First-generation mobile wallets found themselves in an "unfair fight" against the likes of Starbucks and its branded mobile pay and loyalty system, forcing Google to rethink how it would position Android Pay, Google executive Jack Connors said.
The Automated Clearing House is too expensive and complex to provide faster payments for smaller banks and businesses, claims Dwolla, which contends its open system is a better option for those market segments.
A growing number of fintech startups are appealing to the sensibilities of millennials by meeting social missions and, in some cases, by tying the amount of business they generate to the amount they give back to charity or to their customers. read more »