Mastercard has agreed to acquire Finicity for a reported price of $825 million, a move the card brand says will strengthen its open banking platform and expand financial services through more real-time access to data.
The Biblical narrative of the Tower of Babel was meant to explain why people throughout the world speak different languages, but in the modern-day payments version it apparently applies to the complex and problem-ridden transaction chargeback process.
The coronavirus has spawned a fear over handling cash, creating a problem for the common practice at restaurants of using a card to pay while leaving cash for the tip. Given the challenges and restrictions tied to reopening, it's a conundrum eateries can ill afford.
When launching an e-commerce service in Russia more than a year ago, Ingenico Group knew it was entering a complex financial and payments market, as well as one with domestic e-commerce ecosystems unique to each region.
Backed by its consumer survey acknowledging a significant shift in payment preferences to contactless options since the COVID-19 pandemic, Fattmerchant is launching software that can quickly add contactless payment acceptance for its merchants.
The Office of the Comptroller of the Currency has endured a fairly choppy legal ride since unveiling its idea five years ago to establish a special charter for non-bank fintech companies to access a nationwide financial system for lending services without worrying about being licensed to do so in all 50 states.
Mobile commerce provider Bango has added Softbank Corp. customers to its list of Japanese mobile phone carriers whose customers can now make purchases in their Amazon accounts and charge the cost to their phone bill.
Inaccurate payments have plagued accounts payable and receivable departments from the time suppliers' contracts and invoices were stored in boxes and file drawers to the dawn of data-driven digital transactions.
Identity fraud holds no prisoners when it comes to payments. If a fraudster gets hold of a consumer's credentials, everything from mobile wallets, to a checking account, savings account or P2P account is in jeopardy of takeover.