Big banks push back on Fed RTP rails, Walmart eyes Walmart Coin, What check fraud teaches banks about instant payments

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August 5, 2019

PODCAST: Security & Fraud

What Check Fraud Can Teach Banks About Prepping For An Instant Payments Future

If past is prologue, then FIs and FinTechs need look no further than the big spike in mobile deposit check fraud to see their instant payment future, Ingo Money CEO Drew Edwards told Karen Webster in a new podcast. Here’s why and what can be done to reverse that course.

 

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Supplier Payments Network

Visa: Business Payments Network Paves A ‘Highway’ For B2B Payments

The road to paying suppliers is anything but a straight, digital one. Visa's Taira Hall, vice president of US Partnerships and New Initiatives, tells Karen Webster the BPN platform launched with Billtrust, newly joined by JPMorgan, lays the cornerstone for a supplier-first digital-first B2B payments network. Here’s why.

 

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KYB Compliance

KYB, Shell Companies And Pot Payments Gone Rogue

A lawsuit filed by Herban Industries alleging cannabis delivery platform Eaze of using shell companies to skirt card network rules and process card payments reads like a script for a new Netflix series. Whatever happens in court, Trulioo General Manager Zac Cohen tells PYMNTS, this case only underscores the importance of strong KYB in a world where complex ownership structures are common and those will ill-intentions work overtime to set up structures that look legit.

 

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Cryptocurrency

Walmart’s Answer To Facebook’s Libra: The Walmart Coin

Facebook cannon-balled into the payments pool with its Libra announcement and the crypto waters have been rough ever since. Walmart attempted a much more subtle crypto toe-in-the-water last week with a patent filing that suggests that they are at least thinking about a similar, if not identical, move of their own: The Walmart Coin. We break it down.

 

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 Which App Do They Want Report™

Report: Payments Help Merchants Fight Consumer App Fatigue

With most consumers keeping five or fewer merchant apps on their mobile phone, apps have to work harder to get and stay on those home screens. In the Which App Do They Want? Engaging Mobile Shoppers Via Mobile Apps report, PYMNTS surveyed 1,045 consumers to understand why — and the role of payments in giving apps the value-add that keeps consumers engaged — in and out of the store.

 

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