Episodes

Faster payments and the user experience are the differentiators that will enable banks and credit unions to remain relevant and competitive. We’ve seen this gradual shift during the past decade as modern payments have undergone a significant transformation based on consumer expectations. And in the past few years, in particular, the shift has accelerated as the pandemic changed the way many are paying for goods and services. To put it simply, consumers want convenience — and that’s what’s driv...

The year 2022 was one of global financial uncertainty and risk, and 2023 may bring more of the same. For executives in payments risk management, planning for the year ahead should involve taking this geopolitical and financial uncertainty into account and planning accordingly. In a recent PaymentsJournal podcast, Sudhir Jha, senior vice president and head of Brighterion, a Mastercard company, and Brian Riley, head of credit and co-head of Payments at Mercator Advisory Group, discussed how artif...

Cryptocurrencies have moved from a speculative asset to a practical one. One area in which crypto can serve and improve is the current business-to-business (B2B) payments space. In a recent PaymentsJournal podcast, Daniel Artin, Vice President of Strategic Partnerships at Boost, and Elly Aiala, Chief Compliance Officer at Boost, joined Steve Murphy, Director of Commercial and Enterprise Payments Advisory Service at Mercator, to discuss how businesses should consider adopting blockchain technolo...

To sustain their operations, businesses have more than their fair share of challenges to confront. With a recession imminent, climbing interest rates, supply chain disruptions, and a turbulent global climate, business executives have many AR issues to address, along with just keeping enough cash on hand. To get an in-depth look at what executives are struggling with, Versapay surveyed 1,000 C-level executives to uncover their biggest concerns on the current economic climate as well as how the c...

Most of the narrative within the fintech and crypto space revolves around the decline of cash. But is cash really declining? Countries that have attempted to go cashless, such as Sweden, have backtracked these efforts to ensure that consumers still have access to cash when the occasion calls for it. “Cash is on the increase,” said Joe Myers, Executive Vice President of Global Banking at Diebold Nixdorf. “If you look at global cash in the economy since 2012, there’s a compound annual growth rate...

For financial institutions, focusing on digital transformation has become extremely important. The shift to digitization accelerated during the pandemic when many people weren’t stepping foot into physical bank locations, keeping most of their interactions with banks virtual. PaymentsJournal recently sat with Whitney Stewart Russell, President of Digital Solutions at Fiserv, and Steve Murphy, Director of Commercial Payments at Mercator Advisory Group to discuss Fiserv’s recent study and the key...

As the holiday season approaches, merchants should be aware that as overall sales increase, so will fraud. In fact, the holiday season is an opportune time for fraudsters to strike. And merchants need to plan accordingly so that they are not overwhelmed. Fortunately, certain strategies and tools can help merchants adjust their fraud procedures. They can adjust in ways that avoid the need to hire additional staff to process holiday season fraud claims. This fall Kount conducted a survey about an...

Fraud continues to pound embattled financial institutions, which are aiming to stay ahead of increasingly sophisticated attacks. More organizations are realizing that fraud prevention tools and strategies must remain top of mind, which means investing heavily on the most effective tools on the market today. Great strides have been made thanks to powerful tools such as analytics, artificial intelligence (AI), and machine learning, yet financial institutions are failing to capitalize on another vi...

In the event of a possible recession, it’s important for acquirers to make their businesses as efficient as possible. Increasing sales is one important part of that, but so is reducing transaction fraud. Yet, being overzealous with transaction fraud detection has its risks. If false declines on transactions are too high, customers become frustrated and stop shopping with certain merchants. This can lead some merchants to switch acquirers, which in turn ends up costing acquirers billions of dolla...

The regulatory compliance world can be very complex, and with the rapid expansion of digital payments, it’s increasingly difficult to identify and stop fraudulent transactions from occurring. Technological solutions continue to evolve at an equally breakneck speed. But they have failed to keep up with the rapid-fire payments made by bad actors. This forces compliance analysts to manage the barrage with outdated and inefficient tools. Euronet’s Skylight is a financial transaction monitoring sol...

Within the banking industry, it’s important to secure hardware as soon as you need it. This will ensure your operations continue to run at peak performance and to meet compliance requirements. Unfortunately, the procurement process has become slow and cumbersome for many financial institutions. This is due to supply chain snags, disparate systems and lack of resources to manage this necessary function. Automating the procurement process can help banks save time and resources. Ordering all hardw...

For most financial institutions, modernization and digital transformation are top priorities, yet many still struggle in these efforts. Many are unsure where to start and also wary of the potential risks with modernizing legacy systems. Therefore, a large number of banks and credit unions are still in the beginning or exploratory phase of digital transformation. Yet these projects are more important than ever. Financial institutions face more competition than ever. This is not only from other f...