Payments News

On The Web

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Opinion

B2B Payments: What Magic Will It Take to Make Paper Disappear? by Sri Kothur

“Although paper check payments are declining, they still account for nearly half of B2B transaction volume overall. Small- and medium-sized businesses (SMBs) are the heaviest users despite inefficiencies associated with handling paper, including tendencies to misplace checks. The independent store owner, for example, often writes a check collected by a delivery person to take to […]
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Companies

Op-Ed | EBay Is the Un-Amazon, for Better and Worse

“How can a company be both the second-place player in its fast-growing industry – and largely excluded from the conversation about the future of said industry? That’s the weird position occupied by EBay Inc. The company grabs a larger share of the U.S. e-commerce market than Walmart Inc., Apple Inc., and every other retailer besides Amazon.com Inc. The $95 […]
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Opinion

The Real Time Payments Market Does Not Need Government Competition

“While the Fed’s entry has been called for by some smaller institutions that are concerned that the fees for real-time processing may be too high, RTP charges all institutions the same price. There is no reason to think the Fed will necessarily match this price, given that it lacks the infrastructure possessed by The Clearinghouse […]
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Opinion

Apple’s Expansion Into Credit Card Space Could Lead to Disruption

“Apple has once again shaken up the technology space after unveiling its highly anticipated venture into consumer credit, called Apple Card, under a partnership with Goldman Sachs and Mastercard. The service provides users a sleek digital credit card that offers cash back rewards, no major fees and a level of transparency and control over how they repay […]
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Opinion

Complex Consolidation Won’t Save Payment Incumbents From Fintechs

“FIS’ and Fiserv’s acquisitions of Worldpay and First Data for $43 billion and $39 billion, including assumed debt, create two fintech and payments giants. Cheerleaders sing the deals’ hosannas, declaring they will transform the bank and payments processing landscape. But simpler, more focused fintechs and payments enterprises such as Adyen, Square and PayPal in 2018 […]
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Opinion

The Biggest Problem in the War on Cash

“But the problem is that while it may be safer and more convenient to pay without cash, banning the use of cash could be discriminating against low-income individuals without credit or bank accounts because of the fees and minimum balance requirements. In fact, local and state governments are rather up in arms about the whole […]
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Opinion

The Productivity Paradox: Digital Abundance, Scarce Genius

“Despite the relentless advances of digital technologies, productivity growth has been declining over the past decade. Investment and interest rates have remained low, and income has continued to stagnate for the majority of workers in the US and other developed economies. The world seems to be stuck in a period of slow growth and no […]
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Opinion

COMMENTARY: It’s Time We Finally Got a True Picture of Acceptance Costs

“A recent Forbes article attempted to refute many of the conclusions of a prior Wall Street Journal article that had illustrated how the card schemes (Visa Inc. and Mastercard Inc.) have dramatically increased their fees in recent years. In response, the Forbes article challenged the Journal article by completely changing the subject to interchange fees instead of scheme fees. […]