Despite increased competition from real-time payments networks, the automated clearing house remains a force in payments and is expected to remain one for the foreseeable future. “Ubiquitous,” “reliable,” “low-cost,” and “highly efficient” are the adjectives that payments executives seize on when asked to describe what makes the automated clearing house …

Time to get serious about AI. The technology has bright promise in all sorts of applications. Given the exponential growth of adoption for artificial intelligence over the last 12 months, it’s only natural that leaders across industries are eager to map out how they might use (or continue to use) …

Prepaid card spending is on the rise, according to Fiserv Inc.’s annual Prepaid Consumer Insights Study. Some 69% of consumers surveyed say they purchased the same number of gift cards, or more, in 2023 compared to 2022. In addition, 40% of  buyers are putting at least $50 on gift cards, …

Buy now, pay later volume globally will grow 48.3% in 2024, to $232.2 billion, according to a projection from The Business Research Co. Increasing adoption at physical retail stores, growth in cross-border e-commerce, and the rise of financial apps embedding BNPL capability will help account for the growth, the firm said. …

Peer to peer payments networks are wrestling with the fallout triggered when users send money to a scammer. Solutions won’t be easy. In the world of digital payments, there’s a scam born every minute. The latest scam is conning consumers to send money via a peer-to-peer payment network to a …

Overfuel, a provider of online payments for automobile dealerships, has integrated credit reporting from 700Credit LLC to allow users to prequalify for credit on a dealer’s Web site or on a mobile phone. Accounting platform Data Plus is teaming with Edenred Pay, a back-end payments provider for the hospitality industry, to launch …

More than 10 years after Visa Inc. wrote its rules permitting surcharging on its credit cards, questions remain among acquirers, especially those selling or considering surcharge programs for their merchants. Now, as more merchants mull surcharge or cash-discount programs to alleviate some of their card-acceptance costs, and with recent changes …

More than 10 years after Visa Inc. wrote its rules permitting surcharging on its credit cards, questions remain among acquirers, especially those selling or considering surcharge programs for their merchants. Now, as more merchants mull surcharge or cash-discount programs to alleviate some of their card-acceptance costs, and with recent changes …

Patches and updates won’t cut it in an increasingly competitive payments industry. Time to install modern computing power. While some financial institutions try to hang on to their legacy systems, the costs to manage, maintain, and repair these systems are rising. Many now spend more every year on patches, updates, …

A day after the Consumer Financial Protection Bureau floated a proposed data rights rule, reaction from the payments industry has been largely positive. The rule aims at governing the practice of sharing consumer data through open banking. The proposed rule would require financial institutions to share data at a consumer’s …