PaymentsJournal

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that these recurring payments run smoothly can be a challenge when businesses face returns or declines due to errors, outdated payment information, insufficient funds or even fraud.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...

Instant payments systems have gained traction in countries that had cash-based payments infrastructures. While services like FedNow and the RTP network have launched in the U.S., instant payments haven’t taken hold due to the firmly established financial system. In a recent PaymentsJournal podcast, Abeer Bhatia , CEO of Personal Lending & Head of Enterprise Payments at Wells Fargo, and Elisa T...

Organizations turn to fintechs for payment solutions that are as efficient and seamless as the transactions they facilitate. However, behind these smooth interfaces lies a labyrinth of challenges. Security concerns, regulatory compliance, and constant technological upgrades are just a few of the hurdles fintechs must navigate to provide what appear to be simple solutions. For clients, the expectat...

With gift card spend projected to reach $267.3 billion by 2028, it’s clear that gift cards  are an influential force in the market. And the rise of digital gift cards, a trend that continues to gain momentum, is opening up new avenues to engage younger generations. During a recent PaymentsJournal podcast, Blackhawk Network’s (BHN) Sarah Kositzke , Director of Research and Hilary Spidaliere ,...

Reconciliation is an essential aspect of the accounting process that improves transparency, maximizes decision-making, and ensures regulatory compliance. However, many merchants and payments organizations still rely on inefficient processes that can result in errors, financial losses, or violations. In a recent PaymentsJournal podcast, Nick Botha , Global Payments Sales Manager at Autorek , and Do...

The United States is a unique banking market, with more than 11,000 financial institutions and some of the most stringent regulations in the world. With the launch of FedNow last year, The Clearing House’s RTP network, and a new messaging standard in ISO 20022, U.S.real-time payments have finally arrived. There’s only one problem: The infrastructure here is not ready.  In a recent Paymen...

The end-of-the-year flurry of holiday shopping is a classic example of business seasonality. As fraud professionals have long observed, fraud activity also follows seasonal patterns, with seasonal upticks and slow-downs. The challenge has been reacting to seasonality with precision in real-time, instead of just recognizing them in the rear-view mirror. And new data shows that this seasonality does...

Now that the Payment Card Industry Data Security Standard 4.0 has gone into effect, merchants have a year to conform to the 63 new or updated requirements. With many moving parts to the standard, some businesses may struggle to understand their compliance obligations. Simultaneously, they also don’t want to risk creating friction in the customer experience as they introduce the new security measur...

Though most people still refer to prepaid products as gift cards, that term has almost become a misnomer in today’s payments industry. Prepaid cards do so much more than carry gifts—not just for consumers but also for issuers. Savvy businesses use them to drive more consumer spending while increasing brand loyalty.  To that end, Fiserv recently worked with Javelin Strategy & Research on a...

The banking industry infamously divides itself into silos to address different aspects of the business, which can be problematic for customers who think they are dealing with a single entity. This can be especially difficult during onboarding and security checks, when different silos at the bank ask repeatedly for credentials. In a recent PaymentsJournal podcast, Sunil Madhu , founder and CEO of I...

As awareness of the dangers of identity theft grows, it’s important to highlight a particularly insidious threat: stealing children’s identities. Although children have very limited financial activity, this ironically makes them appealing targets for fraudsters.    According to Javelin Strategy & Research, 1.7 million children had their personal information stolen in 2021-2022, resul...

Even though the number of checks written continues to decline, mail theft remains on the rise. Beyond the theft of checks directly from mailboxes, there have been instances of stolen mail trucks. The ease of modifying checks allows criminals to simply wash and modify the payee’s name.  Q2’s positive pay system, used by roughly 550 banks across the country, is on track to stop more...