#pso feature

‘You can hear the bombs’: A fintech developer’s life in Ukraine | PaymentsSource

There’s a near constant pounding of explosions, a deep rattling thunder that won’t stop. The piercing roar of jets. Air raid sirens. Traffic jams caused by fleeing vehicles. These are the sounds of war. For Yevhen Matasar, it’s the sound of his country being torn to shreds. “This is a very difficult situation,” said Matasar from his car, parked in the dark outside a home in a small Ukrainian…

Why PNC plugged into an early wage access marketplace | PaymentsSource

PNC Financial Services Group is working to help corporate clients retain their employees by supporting a number of payment technologies that can free up workers’ cash flow. PNC supports both early wage access (EWA) — a system for giving employees the portion of their paycheck they’ve already earned ahead of the traditional payday — and Request for Pay (RfP), an invoicing method tied to real-time…

When iPhones become card readers, how will terminal makers respond? | PaymentsSource

Point of sale companies were pressured to diversify even before Apple’s decision to allow iPhones to accept payments from contactless cards. But Ingenico’s Peter Stewart contends the move will draw more interest in the innovations his own company can add on. “We welcome any development that accelerates the reach and adoption of digital payments acceptance,” said Stewart, president of the North…

How real-time bill payments can reduce overdrafts | PaymentsSource

Under public pressure to limit overdraft fees, banks are examining whether enabling billers to send digital invoices that can be paid instantly — and only when funds are available — could help customers. Request for Pay, a system that allows a digital invoice to be attached to a real-time payment, enables consumers to move funds to pay a bill at the moment it’s received or schedule a real-time…

How digital payments are shaping identity verification | PaymentsSource

Around the world, governments and the private sector are teaming up with a goal of designing digital identity systems to tackle the growing problem of fraud in digital payments. Recent examples include Business Finland investing €20 million ($22.52 million) in a five-year digital ID initiative led by TietoEVRY, while last year the Australian government accredited digital identity exchange Eftpos…

How new bank, credit union tech bosses are preparing for 2022 | Credit Union Journal

Innovation moves ahead, despite the newest challenges presented by open banking, merger and acquisitions, hiring practices and the persistence of the coronavirus. Credit unions and community banks across the U.S. are enlisting the help of new digital leaders to best adapt to all of these developments. The importance of digital offerings at institutions of all sizes was underscored during the…

CFPB opens inquiry into buy now/pay later lenders | PaymentsSource

The Consumer Financial Protection Bureau has opened an inquiry into the practices of five fintechs to address consumer risks within the booming buy now/pay later installment loan industry. The move signals the first potential speed bump in the U.S. for the highflying BNPL industry, which has soared to $100 billion in loans worldwide in the last few years. The CFPB has ordered Affirm, Afterpay,…

Sezzle and banking partners go bigger with buy now/pay later | PaymentsSource

For fintechs in the expanding buy now/pay later lending sector, forming partnerships with merchants, payment card networks and lenders is critical for achieving scale, as evidenced by a recent frenzy of dealmaking. In recent weeks Klarna announced a pact to extend BNPL services through Stripe, and Amazon has expanded a high-profile BNPL deal with Affirm. But many legacy banks and card networks…