Until the technologies provide significant savings, cryptotokens threaten financial stability, and the risks of open access to central bank balance sheets are worked out, retail CBDCs are a long way off, writes Collin Canright, a fintech consultant.
Domestic debit networks' dual-message transaction options have the ability to disrupt the customer experience, add complexity to back offices operations, and impact issuers’ contractual obligations to their global networks, writes Patrick Goodwin, president of SRM.
There are still millions of merchants in the U.S. clinging to relic point of sale methods — and they are not easily swayed by fancy new touchscreens and mobile wallets. This means companies such as Verifone must go to greater lengths, just to meet them halfway.
Under GDPR, nothing can happen with the European consumer's data unless they explicitly opt in. American consumers tend to ignore the fine print on company statements regarding the potential uses of their data, leading to an environment where companies expect them to opt in by default.
The IATA said it's investigating how to apply faster payments to passengers, whether directly from the airline or indirectly via travel agents. Globally, airlines absorb more than $8 billion in costs for merchant fees and fraud.
China's declaration on Wednesday that its payments market is now open to foreign companies gives Chinese payments processors an opportunity to grow globally — but it's made similar moves before, with little effect.