It’s time to replace interchange with a model that fairly represents the value each party receives. Fintechs have shown us the way to create exciting new forms of financial services. But we are merely scratching the surface of what the age of intelligent systems can do for the payments industry. …

Chargebacks represent the dark side of that giddy boom in online commerce touched off by the pandemic. But as Covid recedes, will disputed transactions follow suit? E-commerce doesn’t always mean Amazon. Think for a moment about the position your local independent eatery or hardware store found itself in just about …

Despite scattered successes, too many pitfalls dot the road to widespread merchant acceptance. Bitcoin and other cryptocurrencies captured the public imagination over the past year, as Bitcoin shattered record after record, PayPal and Square Cash announced they would allow customers to buy cryptocurrency, and major financial institutions such as Bank …

Card-based biometric authentication took a step forward with an announcement early Wednesday that a technology from Fingerprint Cards AB has complied with reference specifications set by Mastercard Inc. The compliance is a first for fingerprint authentication on a card, according to Sweden-based Fingerprints and Fime, an organization that consults on …

The Walgreens pharmacy chain said it will launch a bank-account offering through payments provider InComm Payments that will also feature a MetaBank-issued Mastercard debit card that will allow users to earn rewards through the Walgreens loyalty program. The pharmacy chain will also re-launch its gift card program through InComm.In related news, InComm …

Veteran payments practitioners will recall that, “in the beginning,” issuers paid interchange to merchants to incent them to accept credit card payments from the incipient Visa and Mastercard networks.  By the inception of electronic draft capture (circa 1980), that acceptance was growing to a critical-mass level nationwide, and by the late …

As criminals continue to target e-commerce transactions, online retailers are tasked with employing advanced methods to thwart them. Paay LLC, an authentication-services provider, and OpenPath Inc., an Irvine, Calif.-based payment-services company, are developing a universal 3-D Secure plugin to help with that. Slated to be available in the second half …

After the pandemic struck a year ago, stores scrambled to install technology to support a wide range of payment options, including tap-and-pay, to reassure skittish consumers. But now a new report indicates those efforts may not have gone as far as many have assumed, particularly in the area of contactless …

The Covid-19 pandemic sent shock waves through nearly every industry—not least the global supply chain. Every piece of the supply chain was impacted, from manufacturing and production to fulfillment. And because supply chains are the backbone of commerce, the implications radiated beyond supply-chain hubs and essential workers to also impact …

Nacha, The Clearing House Payments Co. LLC and the Federal Reserve, which collectively manage the automated clearing house network, said the addition of a third daily processing window for same-day ACH took effect on March 19. The ACH network now settles payments four times each business day.Mobile-wallet technology provider Citcon USA LLC said …