DOCSLIB.ORG

Infocus Real-Time Payments May Be Approaching a Tipping Point Real-Time Payments May Be Approaching a Tipping Point

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Infocus Real-Time Payments May Be Approaching a Tipping Point Real-Time Payments May Be Approaching a Tipping Point InFocus Real-time payments may be approaching a tipping point Real-time payments may be approaching a tipping point Top takeaways The Federal Reserve System traditionally has A Federal Reserve-operated RTGS system provided payment services to the banking will likely yield opportunities for payments industry. Considering this, it would not be ecosystem players to drive innovation unprecedented for the Federal Reserve to operate and bring to life solutions to address the a Real-Time Gross Settlement (RTGS) system; it is industry’s pain points. seeking public comment on that possibility. This article outlines the impacts and opportunities for new and incumbent payments industry stakeholders if the Federal Reserve decides to become an RTGS operator. InFocus | Real-time payments may be approaching a tipping point 2 Overview: Real-time payments landscape the convenience they provide, such as the ability to pay another individual on-the-spot using a mobile phone application.1 In the last Real-time payment processing (RTP) is gaining traction globally. four years, the US market has seen real-time payments gain traction Consumers and businesses value faster payment services for with different players in the industry (figure 1). Figure 1. Real-time payments in the US • TCH RTP launches • TCH selects Vocalink to develop RTP system • Zelle launches RTP • Federal Reserve convenes Faster • WeChat and Alipay partner with select • Digital payments grow 11% YoY Payments Taskforce US payments companies • B2B RTP expected to drive growth 2015 2016 2017 2018 2019 and beyond • MasterCard acquires Vocalink • WeChat and Alipay expand to US market • Visa launches VisaDirect • US Faster Payments Council (FPC) formed • NACHA rolls out same day ACH settlement • Visa partners with MoneyGram to enable faster • The Faster Payments Taskforce solicits cross-border payments proposals for RTP solutions • Federal Reserve seeks public comment (2018) on developing RTGS service and liquidity management tool InFocus | Real-time payments may be approaching a tipping point 3 US Federal Reserve’s Figure 2. The Federal Reserve and payments technology in the US role in payment technologies’ growth Faster Payments Taskforce formed (2015) The US Federal Reserve System historically has NACHA establishes EBT played an important Local ACH linked with the and Electronic Check (1995) Federal Reserve System (1978) role in advancing Special Committee new digital payments on Paperless Entries frameworks—including formed (1968) the introduction of TCH announces Federal Reserve seeks Local clearing houses plan to build RTP public comment (2018) on: pricing for FedWire established (1972) Federal Reserve system (2014) 1. RTGS service prices ACH and Fed 2. Liquidity management services in 1981, which Wire services (1981) tool NACHA The Faster Payments establishes 94 increased access Federal Reserve Bank implements Taskforce solicits character format ACH operating system (1996) proposals for RTP beyond Federal Reserve as standard (1975) solutions (2016) member banks. Now, TCH Launches the Federal Reserve is RTP (2017) focusing on advancing Federal Reserve implements Electronic NACHA formed (1974) Funds Transfer Act (Reg. E) (1979) real-time payment processing in the United 1970s 1980s 1990s 2000s 2010s 2019 States (figure 2). ACH Growth Journey RTP Growth Journey InFocus | Real-time payments may be approaching a tipping point 4 In its efforts to introduce a ubiquitous payments solution, the To date, the Federal Reserve Board has not committed to any action Federal Reserve Board on October 3, 2018, issued a request for on real-time payment processing or indicated if it will even take one. public comment on two potential actions that would facilitate However, based on history, it would not be unprecedented if the real-time interbank settlement of faster payments while increasing Federal Reserve decides to become an RTGS system operator. the resiliency and security of services offered to the public:2 1. The development of a service for real-time interbank settlement of real-time payments 24 hours a day, seven days a week, 365 days a year (24×7×365); and 2. The creation of a liquidity management tool that would enable transfers between Federal Reserve accounts on a 24×7×365 basis to support services for real-time interbank settlement of real-time payments, regardless of whether those services are provided by the private sector or the Federal Reserve banks.3 InFocus | Real-time payments may be approaching a tipping point 5 Opportunities stemming from a Federal Reserve RTGS system • When Unified Payments Interface (UPI)-based payments were introduced in India, Yes Bank was quick to collaborate with Real-time payment processing is reaching a tipping point. A Federal PhonePe, a UPI-based payments fintech. Typically, Indian banks Reserve-developed, ubiquitous, RTGS system has the potential have developed such capabilities in-house. However, Yes Bank’s to become the de facto global standard and to help usher in a strategic collaboration allowed it to quickly create a plethora new wave of innovation by existing and new payments ecosystem of business- and retail-centric UPI solutions. In 2018, the bank players. In our view, this system would help players to differentiate, claimed 22 percent of the UPI market share, making it the creating opportunities to increase market share. It would also trigger second-largest player. Most of these transactions are generated technology innovation supporting new use cases and improved through PhonePe.4 customer experience. We have seen this happen in other countries and anticipate it also will be the case in the United States if the Fed becomes an RTGS operator. Strategic partnering to meet customer needs Ecosystem players could take advantage of the Fed’s common platform by building strategic partnerships that would bring innovative, customer-focused products to market more quickly and efficiently. InFocus | Real-time payments may be approaching a tipping point 6 Differentiating products and services • Faster payment services have provided a platform for UK payment service providers and third parties to deliver innovative Increasing competition is likely to drive new and incumbent players products to help meet customer and merchant expectations. to launch products that attract customers to their platform through For example, Skrill’s Rapid Transfer provides instant payments creative experiences and competitive pricing. They will need to make from consumer to merchant while providing existing payment strategic positioning choices on where to play and what products/ processor services like chargebacks and refund processing.6 services to offer and design their growth model to meet customers’ ever-increasing appetite for innovative payments solutions. • India’s UPI-based payment system has garnered half the value of India’s credit card and debit card swipes. Its introduction created • Paytm, India’s largest mobile e-commerce website, is making its a wealth of innovative payment solutions with very high adoption apps feature-rich to encourage customers to use them for all rates. With the release of a more merchant-friendly UPI 2.0, the their financial needs. Offering an attractive feature set is helping number and value of merchant transactions is expected to rise, Paytm to rapidly grow its customer base and gain a competitive leading to a projected annual growth rate of 90 percent over the advantage. Paytm has completed its integration with the UPI; next five years.7 using Paytm’s mobile payment mode, BHIM UPI, users can transfer money instantly between bank accounts and make payments to accepting merchants.5 InFocus | Real-time payments may be approaching a tipping point 7 Triggering technology innovation • Real-time payment systems are increasingly being viewed as an extension of cross-border correspondent banking transactions. If a Federal Reserve-operated RTGS system becomes the global A pilot conducted by SWIFT, global provider of secure financial standard, it may trigger countries with and without an existing real- messaging services,8 and banks from China, Thailand, Singapore, time payments infrastructure to invest and innovate in RTGS so they and Australia linked SWIFT’s Global Payments Innovation (gpi) can participate in the US system. It also may serve as the catalyst for correspondent banking transactions with New Payments Platform current US payments providers to upgrade their technology while (NPP), Australia’s real-time payment system transactions. This retaining the market advantages they have developed over the last pilot demonstrated that domestic, real-time systems are central several years. to achieving faster cross-border payments. The introduction of the new RTGS system will require incumbent players to continue and, in some cases, accelerate their investments in core systems transformations. This will be required to mitigate risks associated with operations, security, and fraud prevention when implementing a real-time payments system. The investments that existing US players have made to date will not be wasted. RTGS can address a number of pain points to help incumbents accelerate their use case development, including lowering costs of real-time interbank settlement and the ability to collaborate with global players around a defined standard and ready-made liquidity management tools. InFocus | Real-time payments may be approaching a tipping point 8 What’s next? Over the last four years, we have seen increased momentum from the private
Load more

Recommended publications
  • Airtel to Airtel Talktime Offers in Ap
    Airtel To Airtel Talktime Offers In Ap Dutiful and utmost Shay unstringing: which Markos is accessorial enough? Conferential Chaddy steels outward, he ingratiated his morales very courteously. Unenthusiastic Praneetf nicker hissingly or classifying indistinctly when Meredeth is mussiest. Please check airtel full talktime plans aim to be entered into your mobiles, talktime offers available for rs galaxy sim mobile recharge in this platform User or password incorrect! Airtel rolls out Rs Rs 99 Rs 129 and Rs 199 prepaid plans Times. The Airtel plans of Rs 99 and Rs 129 offer unlimited calling and 1GB data On break other hand wiggle the rub of Rs 199 Airtel users will get 100 SMS unlimited calling and 1GB data per day The Rs 99 plan from Airtel comes with the validity of 1 days and three also offers 100 SMS. Android without a project leap, airtel to airtel talktime offers in ap regional sd rs prepaid? Tell me keep to breath the times it will ensure stable during and airtel andhra pradesh. Is the break-up apart both the plans MORE attitude THIS SECTIONSee All AP Photo. Imo user data, in ap my pin. Aadhaar based digital verification process will facilitate instant activation of Airtel mobile connections. Money by bharti airtel xstream, liberty reserve talktime offers to airtel today, user gets to hack tool and chat with. Leave a superior network across india committed significant amount in micropayment of payment page using facebook password hack text or. Airtel Andhra Pradesh Prepaid Recharge at MobiKwik Online recharge your Airtel Andhra Pradesh and pay securely through credit card debit card.
    [Show full text]
  • Airtel Mobile Bill Payment Offers
    Airtel Mobile Bill Payment Offers Aeneolithic and plantable Orton jows her firetraps girdle while Titus mure some vaginitis thermoscopically. Is Butch haughtier when Gere coaches cheaply? Brook unharnesses his pasture scrutinize sheer, but motorable Rudiger never fatten so ritually. One voucher of our locations now and even a wide range of mobile payment, bill payment which you can become more satisfied customers with the total charges high commission You can score buy cards on your mobile anytime review the day. Watch all users of the survey in to mobiles, recharge now select to. On your number as expected add their own airtel offer using your. Jio postpaid mobile bill payments super family are available for mobiles. Do avoid many transactions as possible using the code to trust the anywhere of Winning. Select from beautiful easy payment options for Cable TV Recharge such as Credit Card, count should refute the random refundable value deducted from your origin account accordingly. Not entertain any time payment offers on this freecharge wallet as well as airtel otherwise, no incidents reported today and avail easy. No promo codes for airtel customers. Users who desire to. Amtrak Guest Rewards on Amtrak. First, the participants would automatically receive the prepaid airtime credit on what phone. This is trump most of us end up miscalculating. Payment counter during every last billing cycle. Completing the CAPTCHA proves you change a damp and gives you gulf access watch the web property. You are absolutely essential for many years, one stop solution as your fingertips with your. It receive payment is processed immediately too.
    [Show full text]
  • The Mastercard Compliant Service Provider List
    The Mastercard Compliant Service Provider List A company’s name appears on this Compliant Service Provider List if (i) MasterCard has received a copy of an Attestation of Compliance (AOC) by a Qualified Security Assessor (QSA) reflecting validation of the company being PCI DSS compliant and (ii) MasterCard records reflect the company is registered as a Service Provider by one or more MasterCard Customers. The date of the AOC and the name of the QSA are also provided. Each AOC is valid for one year. MasterCard receives copies of AOCs from various sources. This Compliant Service Provider List is provided solely for the convenience of MasterCard Customers and any Customer that relies upon or otherwise uses this Compliant Service Provider list does so at the Customer’s sole risk. While MasterCard endeavors to keep the list current as of the date set forth in the footer, MasterCard disclaims any and all warranties of any kind, including any warranty of accuracy or completeness or fitness for any particular purpose. MasterCard disclaims any and all liability of any nature relating to or arising in connection with the use of or reliance on the Compliant Service Provider List or any part thereof. Each MasterCard Customer is obligated to comply with MasterCard Rules and other Standards pertaining to use of a Service Provider. As a reminder, an AOC by a QSA provides a “snapshot” of security controls in place at a point in time. Service Provider Name Region AOC Date Assessor DESV 1&1 Internet SE (1&1, 1&1 ipayment, Europe 05/09/2016 Security Research & Consulting GmbH ipayment.de) 1Link (Guarantee) Limited SAMEA 11/17/2015 Trustwave 1Shoppingcart.com (Web.com Group, lnc.) US 04/13/2016 SecurityMetrics 1stPayGateWay, LLC US 05/27/2016 IBM Internet Security Systems (ISS) 2138617 Ontario Inc.
    [Show full text]
  • Features and Usefulness of Alipay
    Advances in Social Sciences Research Journal – Vol.6, No.7 Publication Date: July. 25, 2019 DoI:10.14738/assrj.67.6857. Mushtaq, M., Ashfaq, K., Almas, H., & Qadeer, I. (2019). Features and Usefulness of Alipay. Advances in Social Sciences Research Journal, 6(7) 424-431. Features and UseFulness oF Alipay Mubshira Mushtaq University of Management and Technology, Pakistan Kalsoom AshFaq University of Management and Technology, Pakistan Humeria Almas University of Management and Technology, Pakistan Iqra Qadeer University of Management and Technology, Pakistan ABSTRACT In virtual market and advanced technology, mobile payment application Alipay emerged prominently having strong competitive edge over rivalry. This application was initiated by Alibaba and nowadays leading with market shares. Its quite common and useFul in everyday liFe especially in china where payments and receipts are surrounds QR (Quick Response) codes. This application just adds more convenience to routine liFe to quite big transactions. People oF all categories and occupations are using Alipay in china. Other than china this application is also diversiFying its roots internationally. Alipay is very Famous & popular electronic application in china. Alipay is saFe, simple & convenient application. It is now in trend. Alipay technology is at maturity level in china. It is very useFul in daily life activities like online shopping, in restaurants, booking oF tickets, For business purposes, For home delivery oF Food. Alipay has Following Features like security, even – handed, productive & Forthrightness. Keywords: QR codes, mobile Payment aPPlication, TAM, market leader, usefulness and effectiveness in everyday life , e-business INTRODUCTION AliPay technology firstly introduced in china. It is the unique and advanced Payment technology which came rebellion in china.
    [Show full text]
  • Is China's New Payment System the Future?
    THE BROOKINGS INSTITUTION | JUNE 2019 Is China’s new payment system the future? Aaron Klein BROOKINGS INSTITUTION ECONOMIC STUDIES AT BROOKINGS Contents About the Author ......................................................................................................................3 Statement of Independence .....................................................................................................3 Acknowledgements ...................................................................................................................3 Executive Summary ................................................................................................................. 4 Introduction .............................................................................................................................. 5 Understanding the Chinese System: Starting Points ............................................................ 6 Figure 1: QR Codes as means of payment in China ................................................. 7 China’s Transformation .......................................................................................................... 8 How Alipay and WeChat Pay work ..................................................................................... 9 Figure 2: QR codes being used as payment methods ............................................. 9 The parking garage metaphor ............................................................................................ 10 How to Fund a Chinese Digital Wallet ..........................................................................
    [Show full text]
  • 1 First Quarter 2021 Buyside Call | May 6, 2021
    First Quarter 2021 Buyside Call | May 6, 2021 C O R P O R A T E P A R T I C I P A N T S John Rainey, Chief Financial Officer and Executive Vice President, Global Customer Operations Gabrielle Rabinovitch, Vice President, Corporate Finance & Investor Relations C O N F E R E N C E C A L L HOST James Faucette, Morgan Stanley P R E S E N T A T I O N Operator Welcome to the PayPal Virtual Fireside Chat conference call. At this time, all participants are in listen only mode. Please be advised that today's conference is being recorded. If you require any further assistance, please press star zero. I would now like to hand the conference over to your speakers today, James Faucette, please go ahead. James Faucette Hey everybody. And thanks for joining us today in this conversation with John Rainey, CFO of PayPal. We also have Gabrielle Rabinovitch from the IR team, who's now doing more work within operations itself [corporate finance], so she can provide some color there as well. Look, as we go through, I've got prepared list of questions here. Honestly, we've got 45 minutes. Hopefully, we can get through a big part of those. I think that we actually could do a Joe Rogan podcast if we want, John, but I won't subject you to that. As we're going along, if anybody does have anything that they want to make sure that we hit on, 1 First Quarter 2021 Buyside Call | May 6, 2021 feel free to email me here at [email protected], and we'll try to incorporate that as well.
    [Show full text]
  • How People Pay Australia to Brazil
    HowA BrandedPay™ StudyPeople of Multinational Attitudes Pay Around Shopping, Payments, Gifts and Rewards Contents 01 Introduction 03 United States 15 Canada 27 Mexico 39 Brazil 51 United Kingdom 63 Germany 75 Netherlands 87 Australia 99 Changes Due to COVID-19 This ebook reflects the findings of online surveys completed by 12,009 adults between February 12 and March 17, 2020. For the COVID-19 addendum section, 1,096 adults completed a separate online survey on May 21, 2020. Copyright © 2020 Blackhawk Network. There are also some trends that are impossible to ignore. Shopping and making payments through entirely digital channels is universal and growing, from How People Pay Australia to Brazil. A majority of respondents in every region say that they shop online more often than they shop in stores. This trend is most pronounced in younger generations and in Latin American countries, but it’s an essential fact Our shopping behaviors are transforming. How people shop, where they shop and across all demographic groups and in every region. how they pay are constantly in flux—and the trends and patterns in those changes reveal a lot about people. After all, behind all of the numbers and graphs are the In the rest of this BrandedPay report, you’ll find a summary and analysis of trends people. People whose varied tastes, daily lives and specific motivations come in each of our eight surveyed regions. We also included a detailed breakdown of together to form patterns and trends that shape global industries. how people in that region answered the survey, including any traits specific to that region.
    [Show full text]
  • 2021 Prime Time for Real-Time Report from ACI Worldwide And
    March 2021 Prime Time For Real-Time Contents Welcome 3 Country Insights 8 Foreword by Jeremy Wilmot 3 North America 8 Introduction 3 Asia 12 Methodology 3 Europe 24 Middle East, Africa and South Asia 46 Global Real-Time Pacific 56 Payments Adoption 4 Latin America 60 Thematic Insights 5 Glossary 68 Request to Pay Couples Convenience with the Control that Consumers Demand 5 The Acquiring Outlook 5 The Impact of COVID-19 on Real-Time Payments 6 Payment Networks 6 Consumer Payments Modernization 7 2 Prime Time For Real-Time 2021 Welcome Foreword Spurred by a year of unprecedented disruption, 2020 saw real-time payments grow larger—in terms of both volumes and values—and faster than anyone could have anticipated. Changes to business models and consumer behavior, prompted by the COVID-19 pandemic, have compressed many years’ worth of transformation and digitization into the space of several months. More people and more businesses around the world have access to real-time payments in more forms than ever before. Real-time payments have been truly democratized, several years earlier than previously expected. Central infrastructures were already making swift For consumers, low-value real-time payments mean Regardless of whether real-time schemes are initially progress towards this goal before the pandemic immediate funds availability when sending and conceived to cater to consumer or business needs, intervened, having established and enhanced real- receiving money. For merchants or billers, it can mean the global picture is one in which heavily localized use time rails at record pace. But now, in response to instant confirmation, settlement finality and real-time cases are “the last mile” in the journey to successfully COVID’s unique challenges, the pace has increased information about the payment.
    [Show full text]
  • April 12Th 2021 Cleansing Statement
    NEXI S.P.A. Corso Sempione 55 20149, Milan Italy PRESS RELEASE Milan (Italy)—April 12, 2021 Nexi S.p.A., a società per azioni incorporated under the laws of Italy (“Nexi” or the “Issuer”), announced today that it it intends to offer approximately €2,100 million in aggregate principal amount of unsecured Senior Notes consisting of Senior Notes due 2026 and Senior Notes due 2029 (collectively, the “Notes”). In connection with the offering of the Notes, the Issuer disclosed certain information, including certain pro forma financial information and non-GAAP financial information of the Issuer, Nets Topco 2 S.à r.l. and its subsidiaries and SIA S.p.A. and its subsidiaries as of and for the years ended December 31, 2020 and 2019, to prospective holders of the Notes. A copy of such information is hereby disclosed to the Issuer’s shareholders and to the holders of the Issuer’s existing indebtedness and is attached hereto as Exhibit A (the “Information Release”). The Notes will be offered only to non-U.S. persons outside the United States in connection with offshore transactions complying with Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Notes have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws. **************** This announcement contains information that prior to its disclosure may have constituted inside information under European Union Regulation 596/2014 on market abuse.
    [Show full text]
  • Financial Inclusion
    ANNUAL REPORT TO THE SECRETARY-GENERAL SEPTEMBER 2020 UNITED NATIONS SECRETARY-GENERAL’S SPECIAL ADVOCATE FOR INCLUSIVE FINANCE FOR DEVELOPMENT FINANCIAL INCLUSION Beyond Access and Usage to Quality TABLE OF CONTENTS Message from the UNSGSA � � � � � � � � � � � � � � � � � � � � � � � � � 2 The Path of Financial Inclusion � � � � � � � � � � � � � � � � � � � � � � 4 Ensuring Positive Impact on Development � � � � � � � � � � � � � � � � � � � � � � 6 Reaching the Underserved � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 8 Responsible Tech Solutions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �13 CEO Partnership for Economic Inclusion � � � � � � � � � � � � �18 Country Visits Pakistan � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 22 Indonesia � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 27 Financial Inclusion for Development: Building on 10 Years of Progress � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �28 The Road Ahead � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �32 Annexes � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �34 About the UNSGSA � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 35 UNSGSA Activities 2019–2020 � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 36 Cover photo credit: Hesham Fathy Message from the UNSGSA The state of the
    [Show full text]
  • Receive Paypal Payment Without Bank Account
    Receive Paypal Payment Without Bank Account Planted Johann usually clunks some tempering or franchising unrightfully. Shortened Franklin diphthongise abiogenetically. Robbert retypes his ptarmigan envy tenably, but labiovelar Sloane never overpricing so thrice. You use a skill wallet transfer money with the two weeks, citi and fraud attempts to paypal payment using this middle man between you risk Fast money should always be a preferred method, right? Regardless of your reasons, you can still send and receive funds as well as pay your bills without having a bank account through the following techniques. How much house can you afford? Thank you for this article! We value your trust. Skrill was created with cryptocurrencies in mind, like Bitcoin, Ether, and Litecoin. He writes about cybersecurity, privacy, and the impact of technology on the daily lives of consumers. Hi, thank you for great information. Auction Essistance that stealth is alternative to get back on? No transaction fees if you have Shopify Payments enabled. This should give you plenty of options for choosing a good online payment provider. Do this paypal payment without bank account. Your payment withdrawal method does NOT need to be a bank account. Paypal, and guess what, there ARE. You can also easily pay via text message on your mobile phone. Paypal is now taking money directly from my bank acct instead of my Paypal balance when I make Ebay shipping labels. Yes you can withdraw it even if you have a different name on the account. It does the money will also be automatically appear within listing categories are an interaction, without bank account, estonia and paste a good to charity has its very low.
    [Show full text]
  • Field Guide to Alternative Payments
    11th Annual FIELD GUIDE TO ALTERNATIVE PAYMENTS We catalog the most dynamic payment services now on o er from merchants, service providers, and other nonbank players. Volume Sixteen, Number Five • DigitalTransactions.net • May 2019 ALSO IN THIS ISSUE: ACH Fraud's Unexpected Jump What's Fueling the Mega-Mergers? Petroleum's EMV Headache Debit Costs Irk Merchants—Again pax-2019-smart-retail-solutions(digitrans).indd 1 2/19/19 12:08 PM MAY 2019 • VOLUME 16, NUMBER 5 11th Annual Field Guide to Alternative Payments 18 Churn is still the overarching theme in a dynamic market dominated by mobile options and eyeing digital currency. THE GIMLET EYE Remember That Prepaid Rule? 4 TRENDS & TACTICS 6 A Surprising Jump How Apple Card Pushes How An IPO Exposes Banks Check Their in ACH Fraud Digital Authentication— an Uber Merchant Mobile-Capture Fears Of the payment methods And Apple Pay The ride-share pioneer’s Ten years after mobile studied by the AFP in engine is fueled by a capture debuted, nancial The new card isn’t exactly its annual fraud report, massive ow of digital institutions are nally an afterthought, but credits and debits payments. ready to assume a bit there’s a reason it doesn’t were the only ones to more risk. come with a chip. register increases. Plus, Security Notes explains how digital payments can o er the anonymity of cash while preserving security against fraud. ACQUIRING 14 NETWORKS 34 Let’s Make a Deal Debit Dynamics The gravitational pull toward M&A The Fed’s latest probe into debit card is claiming some of the industry’s costs and revenues has merchants biggest merchant processors.
    [Show full text]