Payment innovation stories - Page 2

"There is no one-size-fits-all approach, and banks cannot create all digital subsidiaries equally. Players capable of achieving long-term growth and profitability today will be tomorrow's fintech-era success stories."

There will be more than 1.4 billion users of facial recognition software used for payments alone in 2025, up from 671 million in 2020.

The reasons for implementing eInvoicing centre on unlocking many benefits for all stakeholders by automating previously manual processes, writes MessageXchange managing director John Delaney.

Z Energy has partnered with Transaction Network Services (TNS) to upgrade its customer experience with improved payments security and new digital offerings.

As businesses across the globe assess how they will bounce back and upscale their capabilities, there will be opportunities for the acceleration and adoption of fintech innovation in the B2B space.

DataMesh sees $500 million per annum reduction in transaction fees for merchants when fully implemented.

Intuit QuickBooks has rolled out a machine learning-based cashflow prediction tool to assist thousands of small and medium businesses with getting back on the road to recovery.

Merchant choice routing offers businesses the ability to override these defaults in the card and use the smarts in the terminal to process the transaction via the lowest cost network.

The analysts find that B2B payments revenue is estimated to double, reaching $1,356.28 billion by 2025. This is up from $671.32 billion in 2018 and represents a compound annual growth rate (CAGR) of 10.5%.

“The ability to send money to a contact and have them be able to use it right away presents a powerful tool for families and communities to support each other through the present hardship. 

The report finds 64% of New Zealanders are familiar with biometrics and 68% have used fingerprint recognition.

"Phua's appointment marks the strategic importance of the Asia Pacific region to the company."

PayCargo payment processing services can be integrated into the Unisys operating modules of Digistics to offer clients real-time payment processing.

The New Zealand and Australian governments are working on a joint approach to create trans-Tasman standards to eInvoicing that’ll make it easier for businesses in both countries work with each other and across the globe

"Enterprises, SMEs or startups are now able to bypass legacy approaches and develop innovation at an accelerated pace."

A common gripe among start-ups and small businesses is the issue of payment, and this new solution from Westpac hopes to resolve that.

Ten years from now cash and ATMs as we know them could be extinct as the cashless economy becomes well entrenched in everyday life.

“The continued shift to digital payments is not surprising given how connected and mobile our society is."

The partnership will see Oxipay rolled out widely as a key digital wallet payment solution.

The payments industry should now be almost ready to embrace the future of consumer technologies like biometrics, says Visa.

They knew that Australian consumers were unhappy with credit cards and other debt facilities - especially millennials.

Amazon is just the latest guise of the combined business threats of innovation and competition in the marketplace.

"There is no certainty that the payee name an authorising officer sees on the payment screen or payment report is the actual recipient of the funds."

59% of AU companies yet to adopt modern payment practices are at risk of failing in the next three years, while 19% are at moderate risk of collapse.