Account-to-account payments is becoming a growing force in the payments landscape, totaling $525 billion in global e-commerce transaction value in 2022, up from $463 billion in 2021, a 13% increase, according to the FIS Global Payments Report 2023. The volume was funneled through about 70 real-time payment schemes providing high-speed …

Fiserv Inc. is partnering with Central Payments LLC, a provider of banking-as-a-service for fintechs and embedded-finance businesses, to enable fintechs to bring financial products and services to market faster. Central Payments will leverage Fiserv’s real-time card-processing and -issuance capabilities to enhance its Open CP Fintech API Marketplace, a banking-as-a-service platform …

These days, reaping the benefits of account based ticketing requires knowledge, vision, and planning. Account based ticketing (ABT) is not a new technology in the transportation industry. In fact, smart ticketing—from card-based to account-based—has been around for decades, dating back to the 1980s. The obvious appeal to riders initially was …

Industry opinions are mixed regarding a move by banking trade groups to plead for more time to act on a ruling issued in October by the Federal Reserve. The ruling orders all banks to comply by July 1 with an 11-year-old requirement that merchants have a choice of at least …

P97 Networks, a provider of cloud-based mobile-commerce technology to convenience stores, gas stations, and the automotive industry, is teaming with Visa Inc. to deploy Visa’s token technology as a way to reduce friction with in-car payments, as well as create new customer experiences for mobile-wallet users. P97 will use Visa’s …

A recent pilot demonstrated a number of benefits stemming from the conversion of real-world assets into their digital equivalents. Lost in the coverage of the crypto meltdown last year were some important announcements by major bank associations, such as SWIFT and the Bank for International Settlements, about the use of …

History has shown the two global card networks will never introduce real competition on their own. Time for regulators to intervene. The Fed and the FTC have made a start. The recent clarification by the Federal Reserve confirming that a more than 10-year-old law applies to online debit cards—coupled with …

With major markets adopting real-time payments processing, U.S. banks that don’t act soon risk being left behind. All around the world, banks are making the move to real-time payments. Throughout Europe, Latin America and Asia, we’re seeing banking customers reap considerable benefits from being able to transact in real time. …

Card-issuing platform Marqeta Inc. has extended its tokenization technology to allow card issuers to push tokenized cards to consumers’ mobile devices, where consumers can use the cards to make purchases. The new technology, which Marqeta calls “web push provisioning,” is expected to reduce friction in mobile payments by eliminating the …

With consumers expecting 21st-century digital experiences, the one-click capabilities of embedded payment are looking increasingly attractive to merchants and processors. When it comes time to pay, Uber customers don’t think twice. They open the Uber app, enter a tip for the driver, and click the pay button. It’s a seamless, …