The PaymentsJournal Podcast

Financial institutions are increasingly navigating a sea of scams and fraud. With the evolution of emerging technologies, new avenues for attack have opened, leaving banks, credit unions, and their accountholders more vulnerable. As peer-to-peer (P2P) payments become an expectation, the risks for banks and credit unions edge higher. The real-time nature of P2P payments and […] The post Navig...

Payment processing is much more seamless now than it was even a few years ago. The pandemic accelerated the pace of digitizing payments, and peer-to-peer payment networks continue to grow in popularity. But this has also meant that consumers and banks have faced a growing number of innovative payments scams.   In a recent PaymentsJournal podcast, Sudhir Jha, […] The post...

Validating account information is key to ensuring ACH payments continue to be safe and reliable. In a recent PaymentsJournal podcast, Rob Unger, Associate Managing Director of ACH Network Development at Nacha, spoke with Elisa Tavilla, Director of Debit Payments at Javelin Strategy & Research, about payment innovations to help safeguard banks and consumers. They discussed how […] Th...

The Consumer Financial Protection Bureau (CFPB) proposed a rule in October that requires non-depository and depository entities to release certain types of data related to customer accounts and transactions to consumers and third parties. As a result, larger financial institutions will need to adhere to the compliance regulations earlier than their smaller counterparts. Initially, community [&#823...

Disbursing funds in an efficient and accessible way is critical to a good customer experience. But new economic realities and mobile adoption have challenged organizations to evolve how they pay to meet consumer demands. In a recent PaymentsJournal podcast, two experts from Blackhawk Network, Sarah Kositzke, Director of Research, and Scott Lapp, Director of Product […] The post Digging Deep...

In the past decade, the payments industry has experienced more change than in the previous 40 years. The number of payment options for consumers is multiplying, and the adoption of real-time payments is soaring.   While this is an exciting time for the payments industry, financial services companies are facing tough challenges as payment processing requirements become […] The...

When it comes to business-to-business (B2B) payments, those funneled through automated clearing house (ACH) rails are increasingly popular.  Although many businesses are still mailing checks as payment, more businesses are seeing the risks and looking toward ACH payments as a cost-efficient and convenient alternative. During a recent PaymentsJournal podcast, Brian Holbrook, Director of Produc...

Embedded payments have been a mainstay for consumers for several years due to the rise of digital payments via smartphones and mobile apps. As consumers continue to enjoy the speed, convenience, and security of such payments, the business-to-business (B2B) space has been lagging behind. That is not to say that many businesses are content with […] The post Embedded B2B Payments: A Forward-Thi...

The rapid improvements in the payments industry over the past decade have had the unfortunate side effect of making money laundering more of a challenge for institutions to detect and deter. With a greater number of methods for exchanging money and with most transactions happening digitally, it has become harder to chase after money launderers’ […] The post Why Organizations Can’t Keep Up wi...

As financial fraud continues to become more intricate and more commonplace, and risk remains a deterrent for innovation, the inadequacies of “black box” solutions of third-party fraud vendors are coming to light. To effectively detect and mitigate fraud – and protect the FIs, their customers and their shareholders — banks need full transparency into the […] The post Why Transparency wi...

Although artificial intelligence has been one of the hot topics of the past year, it has been around for a very long time, dating to the 1940s. Over the past 20 to 30 years, there have been many permutations of what is often called traditional AI—and not just in the world of finance. Now, we’re living […] The post What the Next Wave of AI Will Do for Business Processes appeared first on...

As the holiday season approaches, small and medium-sized businesses (SMBs) have an uphill battle to secure their piece of the sales pie. But the key for SMBs to win this year’s Q4 is not to play the same game as the major retailers but rather to play to their niche and delight their customers with […] The post SMBs Can Leverage Tech Solutions and Partnerships to Drive Customer Acquisition an...

Faster payments have plenty of benefits for businesses and consumers, but the technology has also opened the door to a new breed of fraud: authorized push payment (APP) fraud. Banks and their customers have taken a considerable financial beating due to APP fraud. As losses soar, FIs are struggling to get a handle on this […] The post Fighting APP Fraud with AI and Collaboration: A Two-Pronge...

In a world of immediate payment options like Venmo and Zelle, most U.S. banks are still using the same payment-processing technology they installed in the 1980s. Consumers have come to embrace real-time payments, looking increasingly to digital-first nonbank financial players for increased speed and convenience. It has created a landscape where many legacy banks are lagging […] The post...

Acquirers, processors, and payment facilitators (PayFacs) are grappling with a host of challenges involving risk—including sophisticated fraud attempts—that demand innovative solutions. These industry players must harness cutting-edge technologies to strengthen their risk management strategies and ensure the integrity of the payments ecosystem.    In a recent PaymentsJournal podcast, Amy...

The holiday season is quickly approaching, and consumers and retailers are gearing up for what’s to come in the world of gift-giving. The economic roller coaster of the past year has given rise to a cautious but optimistic consumer mindset where value and deals reign supreme. Changing consumer sentiment is driving retailers to adapt and […] The post Gift Cards Take Center Stage this Ho...

Gen Z is embracing emerging technologies as a form of payment at checkout more than their older cohorts, particularly when it comes to mobile wallets. That’s according to PSCU’s 2023 Eye on Payments research, which—for the sixth year in a row—set out to gauge just how much payment preferences have evolved. During a recent PaymentsJournal […] The post Exploring the Shifting Payment Tides: The...

Payment processing has turned into an intricate web of challenges for many merchants and payment service providers. Various factors—payment types, channels, and geographical influences—have created a complex ecosystem where managing transactions and ensuring financial accuracy can feel overwhelming.   Because payment processing comprises various payment types and sales channels, merchant...

As businesses lean on digital technology to drive their success, the question isn’t whether they need to embrace digital transformation but rather how they can do so effectively. U.S. Bank recently conducted a survey of 1,420 financial leaders and found that many are focusing on cost reductions, and the most common way they plan to […] The post Why Businesses Can’t Thrive Without Digital Tra...

Business email compromise (BEC) scams have become a top concern for organizations engaged in B2B transactions, as they target financial assets and sensitive information. According to the 2023 AFP Payments Fraud and Control report, 71% of organizations were targets of such scams in 2022. In a recent PaymentsJournal podcast, Elly Aiala, Chief Compliance Officer at Boost Payment […] The po...

U.S. banks are finding themselves at a crossroads, balancing the advantages of relying on dominant service providers with the pressing need to maintain operational autonomy. From core banking systems to payment processing, service providers offer banks the ability to scale their operations, increase efficiency, and reduce costs. But too much reliance on third-party service providers […] The...

Fintechs are celebrated for offering sleek payments solutions, yet they often cling to outdated manual processes for back-office tasks. The primary offender: Excel spreadsheets. Because of the manual nature of data entry, relying on spreadsheets can have serious negative consequences, including costly mistakes. Manual processes also don’t scale up well to take advantage of the […] The post M...

With the launch of FedNow, instant payments have become ubiquitous, and their adoption will only grow. But there are complexities to consider, particularly for banks and payment service providers (PSPs) that are figuring out how to best integrate this new service without incurring significant operational costs. In a recent PaymentsJournal podcast, Nicholas Botha, Global Payments […] The post...

Eco-focused cards are emerging as a significant force in reshaping the relationship between financial institutions and consumers—not only in the reduction of first-use plastics in payment cards but also in having a positive impact on the environment. In a recent PaymentsJournal podcast, John Lowe, EVP of End-to-End Payment Solutions at CPI Card Group, and Brian […] The post Eco-Focused Payme...

The FedNow instant payments rail has the potential to be a boon for smaller financial institutions, including credit unions and community banks. By leveraging FedNow, these smaller institutions can expand into business services such as on-demand payroll services and vendor payment tools, offering faster and more convenient payment options. During a PaymentsJournal podcast, Jon Budd, […] The...