The coronavirus pandemic is driving a rapid increase in NatWest’s U.K. small-business merchant acquiring unit, with many being first-time card acceptors. In the last two months NatWest has reported a significant increase in small and medium-sized enterprises (SMEs) transitioning from using solely cash to accepting contactless and card payments for the first time. Since the…
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When Fiserv purchased First Data in 2019, it was part of an industrywide push to combine bank and merchant technology under one roof. A year later, a key piece of First Data’s technology — and its top executive — have become Fiserv’s path through the pandemic. As payments volume across the world plummeted, Fiserv’s Clover…
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The deal will also streamle how payments technology is packaged with other merchant services in the sales process, Woods said. “The other large companies do have components of that but they are also doing mortgage services and many other things that a bank might need,” Woods said. “We are purely a payments technology company.” Stripe…
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Most small to medium-sized (SME) business owners are highly dependent on their accountant for everything financial. Accounting, and by extension financial insights, is often a “black box” to them. Most business owners would prefer to be more in control of their own finances so they can make better business decisions. What they really need to…
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Artificial intelligence, the so-called internet of things and self-driving cars are just a few examples of technologies that have migrated from science fiction to our everyday lives. Yet the lifeblood of society, money, has until recently largely been stuck in the realm of slips of paper and chunks of metal. The payments landscape has, however,…
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Fiserv’s $22 billion deal to acquire First Data creates pressure to scale core banking and payment processing that may force further industry consolidation. That puts M&A bullseyes on companies like FIS, TSYS and myriad bank IT and merchant services companies. “A deal has been brewing for years and it was no secret that Fiserv has…
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Driven by new technology and the consumerization of enterprise as people demand a more comfortable experience, growth in business use of virtual cards has been strong in recent years. Yet they still account for a relatively small share of the commercial cards market. Apple is doing a great job of introducing the concept of virtual…
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Thanks to advancements in security technology and the changing habits of customers, the payment industry is evolving rapidly. With the growing Millennial and Gen X population, the popularity of mobile payments and wallets have increased along with regularity of biometric authentication. This infographic highlights seven trends for the future of payment processing that we’re preparing…
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Paysafe, the U.K.-based payments provider serving a concentration of small and midsize merchants in global markets, is buying iPayment Holdings, a processor with a similar focus in the U.S. The move will bring 450 employees in Westlake Village, Calif.-based iPayment’s four U.S. offices and more than 137,000 merchant customers under Paysafe’s umbrella, putting it among…
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Earlier this year, the Consumer Financial Protection Bureau called for comments on the many issues associated with how consumers share bank account data with third-party companies like Intuit’s Mint or Kabbage. In response, leaders at financial institutions generally expressed concern about potential security breaches while fintech companies generally supported the demands of consumers having access…
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