Category Archives: PYMNTS reports

News/Reports posted on pymnts.com

Merchants Gone Wild: The Surcharge Edition

Site Default/ January 29, 2019/ PYMNTS reports/ 0 comments

By Karen Webster Since about mid-December of 2018, checking out in the stores here in Boston has become even more of a hassle. Never mind the people who start rummaging around in their purse or wallet to pull out their cards after stepping up to the checkout counter. Or the chatty person who strikes up a conversation with the only cashier

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How Connected Devices Are Revolutionizing How And Who We Pay

Site Default/ October 23, 2018/ PYMNTS reports/ 0 comments

By Karen Webster Posted on October 22, 2018 Connected devices — smartphones, tablets, voice-activated speakers, smartwatches, in-car dashboard systems — are changing how consumers in the U.S. buy and pay. Not just some consumers, but almost all of them. We have brand-new data that reveals how much change is happening. Using smartphones and apps to autopay at gas stations, or to find and pay

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SWIFT Successfully Tests Instant Cross-Border Payments

Site Default/ October 22, 2018/ PYMNTS reports/ 0 comments

By PYMNTSPosted on October 22, 2018 SWIFT announced Sunday (October 21) successful test results of its new instant cross-border payments proof of concept, involving banks in China, Singapore, Thailand and Australia. In a press release, SWIFT said the trial showed that by enabling gpi in real-time domestic systems, payments can happen near instantly, even when they involve domestic settlement and non-gpi banks.  “These results demonstrate

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Amazon Files Patent To Enable Alexa To Detect Illness Via Voice

Site Default/ October 16, 2018/ PYMNTS reports/ 1 comments

By PYMNTSPosted on October 15, 2018 Amazon is trying to make Alexa, its voice-activated personal assistant, act as a doctor or nurse, detecting illness by a change in the user’s voice. The Next Web reported the company recently filed a patent in which Alexa can determine different things about a person based on their voice. For instance, it can determine if someone is

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Global Payments Links With Alipay; Grab And Fave Partner To Boost Growth

Site Default/ October 5, 2018/ PYMNTS reports/ 0 comments

By PYMNTSPosted on October 4, 2018 Welcome to The Axis, your late look at payments news from around the world. Coverage includes Global Payments’ tie-up with Alipay to serve Chinese tourists in the U.K. In addition, Grab and Fave are teaming up through a strategic partnership in Asia, and KKR and Tencent plan to invest in Voyager Innovations in the Philippines. Global Payments is teaming up with Alipay in the U.K. to help retailers serve Chinese tourists, according to reports. With the

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Why Walmart Says Blockchain Can Improve Food Safety

Site Default/ September 27, 2018/ PYMNTS reports/ 0 comments

By PYMNTSPosted on September 27, 2018 Origins are all the rage in modern life: origin stories, family origins via DNA and digital ancestry databases. Add to that Walmart’s latest effort to gain more grocery market share: using blockchain technology to trace the origin of the food sold by the retailer back to the farms from which it came. The idea is to introduce more transparency

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Looking Beyond ePayments In Accounts Payable

Site Default/ September 26, 2018/ PYMNTS reports/ 0 comments

By PYMNTSPosted on September 26, 2018 For years, B2B FinTech players have pressed businesses to adopt electronic payments. With adoption rates now rising, accounts payable (AP) departments have improved their positions within the enterprise as strategic functions, with the potential to offer greater insight into company operations. However, adopting electronic payments is only the beginning. After the checks have been ditched, some

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Visa: Why The US Is Finally Ready For Contactless

Site Default/ September 26, 2018/ PYMNTS reports/ 0 comments

By PYMNTSPosted on September 25, 2018 Contactless cards have been a big hit around the world. In the U.K., the European Union (EU) and Canada, contactless payments account for two out of five face-to-face Visa transactions, according to newly released data. And that penetration happened fairly fast — many markets saw contactless usage go from single digits to over 50 percent use within a short 18 to 24 months. In the U.S.,

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Mastercard Track Fast-Tracks Supplier Vetting, Onboarding

Site Default/ September 14, 2018/ PYMNTS reports/ 0 comments

By PYMNTSPosted on September 13, 2018 It takes an average of 16 friction-filled, often paper-intensive days for a buyer to onboard a supplier. Mastercard and Microsoft have teamed to launch Mastercard Track, a digital platform to fast-track trade between trading partners by streamlining the supplier discovery, vetting and onboarding process. Carlos Menendez, Mastercard president of enterprise partnerships at Mastercard, and George Zinn,

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Why Alt Payments Give Airlines And OTAs A Boost

Site Default/ September 13, 2018/ PYMNTS reports/ 0 comments

By PYMNTSPosted on September 12, 2018 Universal Air Travel Plan (UATP) is the oldest payments network in the world, 83 years and counting. However, unless one happens to work in a big company and have their travel booked through a managed travel department, chances are they’ve never heard of the network. UATP is a B2B-based payments network, its payment rails handling an estimated 15

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