The PaymentsJournal Podcast

Consumer demand for convenience continues to fuel the growth in e-commerce. As the number of online options increases, so do consumer expectations. Visually appealing sites with crisp photography, detailed information and customer reviews, and easily accessible customer service, including 24 hour live chat, are among the more common and desirable features. However, speed and efficiency […] T...

Since the first mobile devices were enabled with contactless capabilities nearly a decade ago, contactless payments have been gradually gaining acceptance in the U.S. While early adoption has been led by younger consumers, the global COVID-19 pandemic has caused consumers of all ages to rethink the ways in which they pay, fueling even more rapid […] The post It’s Time for Credit Unions to Em...

With the backdrop of the global COVID-19 pandemic, the need for new and evolving digital payment services has become even more urgent. The global crisis has accelerated the timeline for businesses to eliminate the need for physical checks and manual processes by moving to a streamlined digital process. Attempting to make this shift on a […] The post How Banks Can Work with Fintechs to Meet E...

In a world where individuals can create many digital and synthetic identities, strong online identity verification and authentication services and know your customer (KYC) processes are becoming exponentially more important to organizations. When implemented correctly, these tools drastically reduce fraud rates. To talk more about the importance of identity verification and KYC, PaymentsJournal sa...

When creating a fraud strategy, the top concern for many organizations accepting online payments is preventing payment fraud. This makes sense, but failing to consider other types of illicit activity can be costly.  In fact, most marketplace fraud spending is not related to payment fraud, but rather other forms of illicit activity that includes collusion, […] The post Why Compliance is...

Europay, Mastercard, and Visa (EMV) chip card technology have been widely adopted in recent years in the United States, with millions of merchants successfully making the shift away from sliding a card with a magnetic strip. The reason why is simple: EMV cards are more secure. It is nearly impossible for fraudsters to intercept and […] The post Even with an Extended Deadline, the EMV at the...

In the current and post-COVID-19 world, real-time payments (RTP) provide banks with the opportunity to take back control of payments from non-bank providers and meet the growing demands of modern consumers and businesses. Beyond that, RTP capabilities enable banks to serve the greater good through the development of real-time products for specific use cases.  To […] The post Real-Time P...

The human species has been devising ways to solve problems, alter the environment, produce goods, and meet their needs ever since they first appeared. In other words, humans are, by their very nature, technological innovators. From the earliest stone tools of the Neanderthals and the agricultural and irrigation solutions that led to the first civilizations, […] The post The Future Is Now: In...

Many financial institutions are closing branches or limiting access to their physical locations to help slow the spread of COVID-19, which can be highly disruptive for customers who depend on branches to manage their banking needs. To minimize this disruption, financial institutions must offer seamless online and mobile banking services so their customers can manage […] The post Investing in...

Fraudsters will take advantage of any opportunity to scam unsuspecting individuals and businesses out of their money, and the COVID-19 crisis is no exception. The level of disruption caused by the pandemic itself, as well as the response to the pandemic, is unprecedented. With social distancing and stay at home orders in effect across the […] The post Protecting Your Business from Fraudulent...

For many small businesses struggling to survive the devastating economic impact of the COVID-19 pandemic, the Paycheck Protection Program (PPP) promised a lifeline. Under the CARES Act, Congress approved $349 billion in emergency funding for small businesses via the PPP. After exhausting all funds in less than two weeks, the SBA stopped taking new applications. […] The post The Paycheck Prot...

In light of the COVID-19 pandemic, technology continues to be a key pillar of our industry as we continue to serve our customers and communities.  Now, more than ever, digital offerings are an important component to a comprehensive payment strategy.  Traditional financial institutions are also taking note of the sleek apps and intuitive user interfaces […] The post Enabling Communi...

As consumers increasingly manage their finances through digital channels, bill pay has become a critical component of the overall banking experience. Today’s customers expect convenient, integrated solutions that simplify digital bill payments while providing greater transparency, flexibility, and control. At the same time, evolving expectations around payment choice and faster payments are...

The impact of the coronavirus disease (COVID-19) global pandemic is forcing businesses to modify their behaviors and look for innovative ways to streamline and automate processes that often require a physical presence. For example, many businesses still process invoices and payments manually through checks, wire, and ACH, but since most of the country’s workforce is […] The post Now’s the Ti...

With the uncertainty of the ongoing economic impact of COVID-19, it is more important than ever for credit unions to be aware of and serve their members’ financial needs. To identify what these needs are, credit unions need to have a deep understanding of their members’ purchasing behaviors and transaction trends. To delve into consumer […] The post Credit Unions Can Better Serve Their Membe...

Fraud comes in many forms. When a criminal seizes control of another person’s legitimate account, that’s called account takeover (ATO) fraud. Then there’s synthetic identity fraud, which is when a criminal combines real and fake information to make an account. That’s in contrast to regular identity fraud, when a criminal steals a person’s real information […] The post Loyalty Program Fraud i...

As consumer payment preferences continue to change, and the payments industry evolves to meet these preferences, fraud prevention solutions will need to be flexible and scalable to ensure that consumers and companies can transact securely.  Kount, a company at the forefront of digital fraud prevention, recently released such a solution: the Identity Trust Global Network. […] The post Id...

Large swaths of the global economy have ground to a halt as governments scramble to stop the spread of COVID-19. In the U.S. alone, nearly 100 million people (and growing) have been directed to stay at home and practice social distancing in an effort to limit the spread of the deadly virus. As a result, […] The post Social Distancing Has Caused More Online Shopping. And Fraud. appeared first...

The gig economy has experienced rapid growth in recent years, as the convenience of a flexible schedule appeals to a wide base of workers. The unique nature of gig workers’ employment means that they have specific banking needs. However, large banks have traditionally focused their efforts on accommodating the needs of individual consumers and large […] The post The Gig Economy’s Financial N...

With the payments industry increasingly going digital, fintechs and traditional financial institutions alike are exploring ways to harness technology to streamline many aspects of the payments industry. Underlying this digital transformation is open banking, the use of open APIs to build a range of products and services around financial institutions. One area where open banking […] The post...

Now that it’s well into 2020, we’re in the midst of a rapidly evolving fraud landscape. Gone are the days where fraudsters primarily operated in the physical world, using stolen credit cards to make transactions. Instead, as society has become increasingly digital, so have fraudsters. Card-not-present fraud has proliferated, with everything from account takeovers to […] The post Fraud Is Rap...

Payments are humming across a variety of rails to countless businesses and consumers at any given moment in the U.S. With so many available payment methods, end users, and use cases, the payments landscape can be a tangled web of rules and regulations. It also can be a challenge for industry stakeholders to navigate the […] The post With Phixius, Nacha Sets Its Sights on Modernizing and Stre...

Though checks are frequently dismissed as a thing of the past, especially with the growing number of digital payment options available, they remain an extremely prominent payment method in the United States today. One of the most pressing issues regarding depositing checks is the time it takes for checks to clear and for funds to […] The post Immediate Funds Access: Fiserv’s Solution to Acce...

This episode was recorded at the Money 20/20 event in 2019. On this episode, PaymentsJournal’s editor-in-chief, Ryan McEndarfer, sat down with Marc Vaughn, Concourse Sales Director at BHMI. PaymentsJournal: Welcome to the PaymentsJournal podcast. I’m your host, Ryan Mac, and today’s episode was recorded at the Money 2020 event 2019. Now during this episode, I’m […] The post...

This episode was recorded at the Money 20/20 event in 2019. On this episode, PaymentsJournal’s editor-in-chief, Ryan McEndarfer, sat down with Christopher Justice, president of Global Payments, to talk about payments in the gaming industry. PaymentsJournal: Christopher, thank you so much for joining me on today’s episode. For our first question here, Global Payments is […] The post Und...