PaymentsJournal

When the topic is prepaid cards, the store-branded or general-purpose gift cards at grocery stores and retailers might come to mind. However, a substantial number of businesses and organizations continually use prepaid cards for a range of cases, including employee incentives and customer rebates. In a recent PaymentsJournal podcast, Sheryl Shewman , Vice President of Business Development at U.S....

As of March 10, 2025, ISO 20022 will become the messaging standard for financial services in the United States. Yet adoption continues to be slow among large and small banks, with only about a quarter of American banks already using the new protocol. As some have put it, it’s like waiting until the last minute to do your Christmas shopping. Are financial institutions ready for this conversion? In...

Banks allocate significant resources to fighting fraud, both in prevention and in maintaining reserves for potential losses. No matter how good the performance is, fraud losses remain a burden on their balance sheets. Instnt , under the leadership of CEO and founder Sunil Madhu , has been at the forefront of developing innovative ways to combat bank fraud. Madhu recently sat down with Tracy Kitten...

The ATM industry has undergone a dynamic shift that has taken automated teller machines far beyond cash dispensation. As the number of bank branches has declined, both banks and consumers expect ATMs to provide a wide array of services that were once only offered at a teller’s counter. In response to the increased demand for ATM services, financial services company NCR recently split into two sepa...

With no relief from inflation in sight, consumers are bracing for an expensive holiday shopping season, especially with only 27 days between Thanksgiving and Christmas this year. To stretch their budgets, consumers will leverage every available method, and merchants’ loyalty programs can save customers money while strengthening brand relationships. However, another key pillar of a merchant’s succe...

Access to emergency funds provides peace of mind, especially when many people find themselves scrambling to cover expenses.   Given the needs of younger consumers, liquidity and cash flow issues are becoming increasingly important for financial institutions to address.   Changing regulations offer financial institutions an opportunity to rethink how they are meeting these customer n...

The upcoming conversion to ISO 20022 presents both challenges and opportunities for banks. It allows them to drive potential efficiencies by redesigning operational processes around Swift messaging. However, there is also the challenge of data ingestion; banks will need to ensure every tech platform in their stack, particularly reconciliation and reporting tools, can effectively handle ISO 20022 m...

Open banking has come to encompass so much that it can be hard to define. At its heart, open banking is about opening consumer financial data—once the sole domain of banks—to third-party service providers that manage the data using APIs. In a recent PaymentsJournal podcast, Vladimir Jovanovic , VP of Innovation at Velera, and James Wester, Co-Head of Payments at Javelin Strategy & Researc...

After companies have spent years struggling to build their own payments systems, the era of Payments 3.0 has arrived. This new domain is driven by technological innovators who take a product-centric approach to creating holistic payment systems from the ground up.  In a recent PaymentsJournal podcast, Danny Shader , CEO of PayNearMe, spoke with Christopher Miller , Lead Analyst of Emerging Payment...

The role of the Chief Financial Officer has evolved significantly in recent years, with finance offices increasingly tasked with driving business growth. As technology requirements and banking relationships grow more complex, CFOs often find it challenging to maintain the cash visibility necessary to optimize working capital and make informed strategic decisions. In a recent PaymentsJournal podcas...

The ACH Network is set to surpass 33 billion payments by the end of the year, marking a significant milestone. Consumer Internet-initiated payments are set to surpass 10 billion, a remarkable achievement considering the payment method was created just 20 years ago. In a recent PaymentsJournal podcast, Michael Herd , Executive Vice President of ACH Network Administration at Nacha, and Elisa Tavilla...

Cards made from paper and other sustainable materials continue to gain in popularity. In addition to being ecofriendly, paper cards are more cost-effective and perfect for single-use purposes, such as gift cards. To explore the future of sustainable cards, Peggy O’Leary , EVP, Prepaid and Digital Solutions for CPI, spoke with Elisa Tavilla , Director of Debit Payments for Javelin Strategy & Re...

As a reliable revenue stream, recurring payments help both organizations and their consumers by giving them the option to “set it and forget it.” However, ensuring that these recurring payments run smoothly can be a challenge when businesses face returns or declines due to errors, outdated payment information, insufficient funds or even fraud. With the right partner, a subscription model can help...

Paying bills is an essential part of life, but it’s a task that has become increasingly complex. Because bills often come in various forms and require different payment types, it can be hard for consumers to stay on top of their finances. In a recent PaymentsJournal podcast, Derek Swords, VP, Head of Product, Bill Pay at Fiserv , and Albert Bodine, Director of Commercial and Enterprise Payments at...

Facing a continuing rise in fraud and fraud attempts against financial institutions, Nacha has announced new rules to help organizations mitigate these risks. These new rules will take time to implement, so institutions should begin preparing now rather than waiting until the rules go into effect.  In a recent PaymentsJournal podcast, Brian Holbrook , Director of Product Strategy and Integrat...

One of the most disturbing aspects of present-day fraud is just how prevalent it has become. Around 80% of respondents to an Association of Financial Professionals survey said they were victims of payment fraud in 2023. It was a 15% increase from 2022 and the highest number since 2015. In a recent PaymentsJournal podcast, Ryan Clayton, Director of Solution Consulting at Bottomline , and Alber...

Payments data has become a crucial cornerstone for any company that processes transactions. Despite the availability of powerful analytics tools, many companies can’t leverage the true potential of their payments data because their information is siloed and scattered across multiple systems. In a recent PaymentsJournal podcast, Mike Meeks , Chief Technology Officer at BHMI, Jon Protaskey , D...

Affluent families are increasingly targeted by criminals and financial advisors must take a more proactive stance to mitigate the cyberthreats, for both clients and their children. According to Javelin’s wealth management research, a large 45% of investors say they expect their wealth management advisors to educate and shield them from cyber and fraud risks. In a recent PaymentsJournal podcast, tw...

The payments industry has undergone more change in the past few years than it has in the preceding few decades. The rise of instant payments, the arrival of fintechs, the consumerization of payments, and the onset of open banking have driven significant shifts in the business payments terrain. In a recent PaymentsJournal podcast, James Richardson , Head of Global Product Solutions at Bottomline, a...

After years of restrictions and uncertainties, people are eager to travel the world again, whether for leisure, business, or reconnecting with loved ones. As a result, international travel is getting back to—and in some cases even surpassing—pre-pandemic levels.  Dynamic Currency Conversion, or DCC, is making the travel experience more seamless. On a recent PaymentsJournal podcast, Ed Robles...

In an era marked by rising inflation, prepaid cards have become more than mere financial tools. They are increasingly seen as strategic assets in managing the economic pressures felt by consumers and retailers alike. The benefits of gift cards extend beyond financial transactions, helping retailers build personal relationships and loyalty with their customers. In a recent PaymentsJournal podc...

With the growing demand for immediacy and a seamless experience in personal finance, credit unions must keep up to remain competitive. While many of these institutions have remained competitive with lower rates, they often lag behind banks and other lenders in the digital lending space in convenience. In an era of instant credit, speeding up the loan origination process is essential for maintainin...

New cross-border payments solutions are offered seemingly every day. These solutions use everything from stablecoins to pay-by-bank platforms. However, international wire transfers still play a crucial role in money movement, and that’s not likely to change anytime soon. In a recent PaymentsJournal podcast, Justin Jackson , SVP, Head of Enterprise Payments at Fiserv, and John Min , Chief Economist...

In the past, the chief financial officer’s role has been somewhat relegated to the financial aspects of a business. Now, CFOs face a challenging array of responsibilities that include payments modernization, fraud mitigation, and the selection and implementation of technological solutions. In a recent PaymentsJournal podcast, Jeff Feuerstein , SVP of Paymode-X Product Management and Market Strateg...

Organizations have faced the challenge of deriving insights from their data for a long time. Some enterprises have the ability and resources to do this, but others are far behind. Artificial intelligence (AI) has the capability of catapulting data analysis into the future, allowing enterprise analytics to fit into the daily, general health and success of a company. Billtrust has been at the forefr...