The Pays of the world Apple, Android, Samsung and others get a lot of attention for changing the face of the payments industry, but will have little or nothing to do with actually reframing the next generation of payments, experts say.
Of all the many technology innovations in the last few years, the truly unparalleled innovation is interoperability. When companies with their disparate systems and platforms can communicate and share their data the multiplier effect on new technologies and benefits is tremendous.
Restaurants are already busy adjusting to consumer trends toward mobile payments and a rough transition to EMV payments. But there's also a back office payment problem with slow, costly paper checks and invoices for payments to restaurant vendors and suppliers.
CHICAGO -- At some point, the Federal Reserve Bank's three-year journey to create a faster payments system in the U.S. will run head long into one of its major challenges -- making sure it can operate within all networks.
Millennials are experts at navigating social media and messaging apps, but they could use some help when it comes to managing their money, concluded the U.K. fintech team behind Plum, a new app aiming to bridge this chasm.