Consumers have come to expect an electronic payment to happen in seconds with zero or few errors, but for organizations the situation is a little more fraught. At least that’s the feedback from a new report, “The State of Payment Operations 2023,” from Modern Treasury Corp., a payments and financial …

Nearly 90% of financial-institution clients predict 5% or more of cross-border market share will be forfeited to fintechs within the next 10 years, according to a study from Citicorp that canvassed more than 100 financial-institution clients. Why is this important?  “The Bank of England estimates that the value of cross-border payments is …

E-commerce platform Wix.com Ltd. looks to make it easier for its merchants with stores to accept physical payments with the debut of Tap to Pay on Android. The technology, coming from Stripe Inc., means merchants can accept contactless payments with a regular Android smart phone and no additional hardware. Tap …

Step one for Hyundai Pay, the in-car payment service debuting in the 2024 Kona crossover, is enabling payments for parking while sitting in the driver’s seat. Step two is broadening its capabilities and making it an integral part of the vehicle, Olabisi Boyle, Hyundai Motor North America vice president of …

Though not as credit and debit card friendly as some industries, the legalized cannabis industry continues to create opportunities for payments companies. Among the latest developments are the release of POSaBIT Systems Corp.’s latest point-of-sale system and a new program from Organic Payment Gateways. Bellevue, Wash.-based POSaBIT says its POSaBIT …

When the Cleveland Browns open their 2023 NFL home stand Sunday, fans at the stadium using credit and debit cards will be tapping and dipping via new Clover Sport devices. Announced Wednesday, the nearly 500-device installation in concession and premium-seating locations in the Cleveland Browns Stadium will make the arena …

Small businesses and unattended-payments merchants are getting some attention from point-of-sale terminal sellers with updates from Elavon and Ingenico. First, Elavon, the acquiring arm of U.S. Bank, launched the talech Terminal, a mobile POS device that complements its talech Register, which debuted in 2022. Talech is a software developer acquired …

Sending cash with birthday cards in the mail is risky, but now Hallmark Cards Inc.’s service with Venmo makes it easier and presumably safer. The new Hallmark + Venmo line of cards includes a QR code inside the card that recipients scan to receive the funds to their Venmo accounts. …

Students at Loyola University Maryland are the first to use Amazon.com Inc.’s Just Walk Out technology in a Grubhub partnership. The tech enables students, faculty, and staff to shop and walk out with their purchases billed within the app. Funding sources can be a meal plan, account balance, or credit …

Digital wallets continue to find a foothold in payments. The latest entry is BMO Commercial Bank’s debut of Extend, a virtual card service for its app. And startup Tezro launched a digital wallet aimed at integrating banking, payments, and shopping through messaging apps consumers already use. BMO Commercial Bank, a …