Sometimes industry self-regulation does a better job protecting consumers than government regulation does. The only viable way to curb outrageous and deceptive credit card foreign exchange fees is for the payments industry to police itself. Read More
The digital movement of money from consumer to merchant to bank and back again—all in the blink of an eye—is upon us. Call it the dawn of cybermoney.
The next time you look at the chip on your debit or credit card, consider this: We will soon mark the three-year anniversary of the EMV liability shift for point-of-sale transactions in the U.S. The Read More
With artificial intelligence taking off, banks find themselves in an unprecedented position to meet and anticipate customer needs. But on the payments side of the equation, there’s still a struggle to Read More
With today’s fintech industry covering such a wide swath of innovation and invention, it’s harder than ever to identify specific pockets of major forward movement. Even the concept of artificial intelligence Read More
When the senior executives at Citizens Bank of Edmond, Oklahoma first considered signing up for Apple Pay nearly three years ago, the scenario resembled that faced by other community and mid-sized banks: lots of Read More
The endless disruptions and revolutions in payments have done more than just taken “evolution” out of the picture: They’ve also sent the banking industry on a “wild ride.” That’s no casual choice of words, as “A Read More
If you talk to your customers for any length of time, the topic of cryptocurrency invariably comes up. You even know how this scene goes because it probably played out more than once in your Read More
A new era in technology driven by the “Do it for Me” phenomenon is blossoming all around us—and “driven” can be taken literally, what with the advent of self-driving cars. Add to the list self-setting Read More
Five decades after they were first unveiled in Swinging London as marvels of secure, cash-dispensing convenience, automatic teller machines are more vulnerable than ever—thanks to a wide array of attacks that include skimming devices, malware, Read More
Through modern history, banks have pretty much owned the payment business: the rules, the operations, the settlement, the technology advances and most of all, the revenue it throws off.
That’s changing—but not nearly as Read More
The ever-shifting mix of cash, checks, ACH and electronic payments methods are now top-of-mind when people discuss today’s in banking—especially as consumers increasingly adopt electronic payments methods in their daily routines. And while demand for Read More
For wholesale banks, one New Year’s resolution represents equal parts common sense and common good: to take the necessary steps to remain relevant to customers and profitable in 2018. But to do that, these banks Read More
While principally aimed at curbing the grey economy, Indian Prime Minister Narendra Modi’s ballyhooed demonetization campaign last year spotlighted the war between cash and electronic payments in the mother of all emerging markets. And Read More
In the U.S., paving the path to faster payments requires patience. Lots and lots and lots of patience. For when it comes to the Federal Reserve’s work with the Faster Payments Task Force, there Read More
The stereotypes that surround Africa’s track record of innovations—or as some would argue, the lack of them—may well outnumber those dismissive people who still call it “the third world.” What with all the breathless foreign Read More
You would think that by now that there would be a banking system that allows customers to send instant payments from their accounts to anybody else’s bank account in real time. You would think that Read More
For all the dazzling speed high-tech startups and solutions bring to the financial scene, one aspect of the sphere continues to run slow—relentlessly slow. International money transfers—aside from being unpredictable, error-prone and expensive—piddles along just Read More
BAI’s reporting on banking security issues has found that regardless of the threat and response, fraudsters are rapidly adapting not only to security measures, but also to where and how customers access their accounts. Meanwhile, Read More
The payments industry has grappled with rising merchant attrition for quite some time. No longer is traditional customer service enough to retain a merchant. As a result, the industry has started to explore analytics to Read More