The PaymentsJournal Podcast

As consumer behavior around the world adapted to the “new normal” created by COVID-19, increased reliance on online shopping led to exponential growth in digital commerce. This rise in digital commerce opened up the doors for sophisticated fraudsters to exploit vulnerabilities in merchants’ online security. Fortunately, there are tools for merchants that are effective in […] The post Fightin...

Before the pandemic hit, many larger institutions considered launching real-time payments (RTP) to be at least somewhat challenging. The process requires multiple front and back office systems, as well as various operational groups. And these systems and groups always need to be in sync in order to process a successful transaction in real-time. Since then, […] The post Modernizing Back Offic...

Consumers need for immediate access to liquidity goes beyond crisis situations. Millions of households in the United States currently have a need for immediate access to money they don’t yet have. Whether their balance shortfall is due to the pandemic or an emergency expense, financial institutions can help account holders bridge the gap. To learn […] The post Unpacking the Need for Financia...

At the beginning of the pandemic, everyone expected things to go back to normal after a two-week shutdown. Over a year later, nearly everything in our day-to-day operations has changed, and that includes how we interact with financial institutions (FIs). Because COVID-19 made it difficult for consumers to venture out and run their usual errands, […] The post AI is the Future, and the Future...

Consumer behavior is always evolving, and the pandemic has brought about an accelerated shift to digitization, as well as high growth in the adoption of e-commerce. With this increase in online shopping, there has also been an escalation in fraudulent activity, leading to a larger number of disputes from customers who never received their purchases […] The post There’s No Disputing It: PSCU’...

It’s undeniable that the health crisis of 2020, which was followed by the economic crisis, has materially altered retail banking and consumer payments. The questions now are how much of the change experienced will continue long term and where do we go next? To gain insight on how consumer banking has changed and what the […] The post What Does the Future Hold for Consumer Banking? appeared f...

Every member of the supply chain is now impacted by inefficient manual processes thanks to COVID-19. As a result, U.S. businesses are accelerating their plans to move from paper to digital B2B payments. An era of digital transformation has arrived. To learn more about digital acceleration in the realm of B2B payments, PaymentsJournal sat down […] The post Digital Acceleration Is Table Stakes...

During the economic hardship of COVID-19, retail consumers became more interested in accessing credit to make purchases, and retailers became more interested in offering them. But what happens to consumers without the credit score to qualify for traditional financing options? Oftentimes, they get left out. But rather than leaving those customers behind, enterprise retailers can […] The post...

Payment modernization was once a nice-to-have feature for corporate banks that wanted to set themselves apart. That’s no longer the case. Rather, it is absolutely crucial for corporate banks to shift away from legacy banking systems in favor of digitization. To learn more about why digitalization in corporate banking is a necessity, PaymentsJournal sat down […] The post Payment Modernization...

For some merchant acquirers and payment service providers (PSPs), onboarding clients can be a less than ideal experience for the merchants, causing these merchants to abandon the process. At first glance, some organizations may be fine with this additional friction, particularly when it comes to onboarding SMBs and micro merchants, due to the amount of […] The post How Can Payment Service Pr...

Today, many leading financial institutions are striving toward successfully and efficiently delivering real-time payments across their enterprise. Of course, that’s easier said than done—enabling real-time payment networks and all use cases is without a doubt a daunting task. Fortunately, certain experts in the payments space can provide useful advice on the decision-making processes behind real-t...

You want it? You got it. With things like television streaming channels, Amazon Prime, and food delivery services, it’s no wonder people have become a little spoiled by convenience. But for merchants trying to satisfy such demanding consumers, the process can be a bit tricky. Fortunately, the implementation of payment orchestration is assisting in giving […] The post A Multi-Acquirer Approac...

The inclusion of individuals of all abilities and ages is an absolutely crucial element to incorporate into security solutions. However, it is often missing.  To learn more about inclusion as a principle of design, PaymentsJournal sat down with Justin Fox, Director of Software Engineering for the NuData Platform at NuData Security, Dave Senci, VP of […] The post Inclusion as a Foundatio...

The events of 2020 changed the world permanently, and the payments industry is no exception. The pandemic served as a digital accelerator for how consumers prefer to pay and be paid, and, as a result, payments platforms are more crucial than ever before. To learn more about the biggest changes businesses are facing in regards […] The post Payments Platforms are the Key to Success in the New...

With the growth in online shopping triggered by the pandemic, there has been a huge surge in customers leveraging buy online, pickup in store, or BOPIS, and curbside pickup options. This surge is unlikely to go away, making it critical for merchants to offer unique omnichannel shopping experiences to stay competitive. To learn more about […] The post It’s Time for Merchants to Enhance the Cu...

Wash your face. Brush your teeth. Secure your digital payments. Maybe the last one wasn’t taught in health class, but as the world becomes an increasingly digital space, cyber hygiene is a critical practice that nearly all Americans should implement into their daily routine (perhaps after your mindfulness practices, but before your green smoothie). In […] The post Practicing Proper Cyber Hyg...

Businesses using ACH will soon have to comply with a new rule, the WEB Debit Account Validation Rule, related to account validation. The effort – meant to help combat fraud and protect users – has also been a source of uncertainty.  Despite the rule taking effect this month, on March 19, and Nacha taking steps […] The post GIACT and Hudson Cook Break Down NACHA’s New Account Validation...

Thanks to COVID-19, 2020 was the catalyst for a massive adoption of digital services by consumers. With the pandemic still ongoing and consumers’ changes in behavior solidifying, it’s unlikely that the world will ever return to what it was before. Digital is here to stay. But with the shift to digital comes new risks. Now […] The post How Identity Verification is a Strategic Priority for Bus...

When the pandemic hit, time was of the essence. Between stocking up on toilet paper, masks, and hand sanitizer, there was a mad rush to acquire critical supplies and feel prepared for the unknown. This demand for immediacy, which trickled into all aspects of people’s lives, highlighted how important it is for employees to access […] The post Earned Wage Access is Table Stakes for Human Capit...

New and upcoming regulations are going to up-end how cryptocurrency exchanges operate. Listed below are the major regulations that need to be on your radar. In recent years, there have been numerous anti-money laundering laws set in place to prevent people from transferring cryptocurrencies illegally. Although this is great news for those who use cryptocurrencies […] The post Cryptocurrency...

Since the start of the pandemic, the ACH Network has worked diligently to support changing and growing needs of  the payments industry. With an uptick in Direct Deposits and the volume of per day transactions ACH payments thrived in 2020 and show few signs  slowing down. To further discuss the “new normal” of ACH payments […] The post Record ACH Payment Growth in 2020 to 26.8 Billi...

I think I can safely speak for all of us when I say we just want to put 2020 behind us. But there were a lot of lessons learned by credit unions in regards to credit vs debit payment trends during the pandemic, and that data will continue to prove useful throughout the rest of […] The post PSCU Reports Weekly Credit vs Debit Payment Trends Throughout the Pandemic appeared first on PaymentsJo...

Today’s Chief Marketing Officers (CMOs) are facing unprecedented pressure and urgency, which is driven in large part by significant change and uncertainty in the consumer and commerce landscape. Amid this change, the role of the CMO is evolving. Gone are the days where they are just the Chief Marketing Officers. They are now responsible for […] The post How Payment Partners Are Helping Marke...

Let’s face it: the pandemic has all but crippled the U.S. economy. Millions of citizens have been left jobless in the wake of the devastating COVID-19 virus, so it’s no surprise that delinquent credit has led to an uncharacteristic rise in delinquent payments.  Delinquent credit is the falling behind of monthly payments to the lending […] The post How Community Banks Can Prepare for a L...

When was the last time you heard someone say “Honey, we’ve got to pay the Netflix bill this month!” Or perhaps, “Mom, did you renew my Xbox LIVE subscription?” Rarely do today’s consumers think about these things, yet services continue on, day after day, uninterrupted. This is due to something called payments orchestration. Payments orchestration […] The post Payments Orchestration Platforms...