Issuer-provided installment plans, such as American Express Plan It, My Chase Plan, and Mastercard Installments, are on par in popularity with in-store installment offers, finds Auriemma Group’s The Payments Report. American Express Co. was among the first issuers offering its own buy now, pay later plan, having launched it in …

Just before his early death in 1957, John von Neumann designed a self-reproducing automata. The brightest mathematician of the 20th century, von Neuman realized the implications of his design and attempted to hide it from the public. A self-reproducing entity can spawn “children” entities (copies) marked by random mutations that …

Companies that can make immediate worker payouts are poised to outcompete those that can’t. Personalization in banking and financial management is critical. Today, customers have high expectations for a cohesive financial experience, and the banks and companies that refuse to adapt will certainly be left behind. According to a survey …

In the Visa Flexible Credential, has the payments industry found its ultimately secure identity solution? New ways to use technology, changing consumer preferences, and comfort with digital payments may all be fostering the first steps toward a digital-payment identity. But is it time for a digital-payment identity? Visa must think …

As the Federal Reserve’s real-time payments network celebrates its first birthday, the payments industry takes stock of its impact on instant transfers. Launched with great fanfare in July 2023, the widely and long-anticipated FedNow has largely enjoyed a successful first year. One area where the network has excelled is in …

The contrast between the approach in the U.S. and that in Europe underscores the importance of competition and innovation. Many U.S.-domiciled payment networks are relevant, even dominant, globally, whereas few European payment systems are. Europe and the United States are both served by a patchwork of retail, peer-to-peer, and interbank …

Data from eMarketer, a research firm, indicates mobile payments at the point of sale in the U.S. market will total $670.5 billion this year, up 21.4% from 2023, and will grow nearly 19% to reach $797 billion in 2025. Volume will cross the $1-trillion mark in 2027, the firm predicts. SmartMetric …

The number of identity-theft cases fell last year, but criminals are getting savvier about how to win their victims’ confidence, with more of them relying on newer tools like artificial intelligence. And credit cards and other financial products remain a top target. That’s the mixed message from the Identity Theft …

Paze, the online checkout platform backed by some of the nation’s biggest banks, is barreling through a state-by-state rollout that could culminate in nationwide coverage by late summer or early fall, according to James Anderson, the platform’s general manager who has spearheaded the project since Early Warning Services LLC announced …

Apple Pay Later, the buy now, pay later product from Apple Inc. released just over a year ago, is shutting down. The move comes after installment-payment specialist Affirm Inc. confirmed it would be part of Apple Wallet when the tech giant’s annual software updates for iPhones and computers emerge this …