So much is happening in the payments space that it’s nearly impossible to know it all – let alone know what to think about it. This week, we’re sharing some perspectives on payments, from the lively roundup of ideas in Payment Week’s quarterly report to the New York Times’ article on the instant payments business and Jim McKelvey’s experiences co-founding Square.
We’ve also slipped in some news about Visa’s Quick Chip technology. Because from our perspective, faster EMV transactions are something we can’t wait to try.
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What had us hooked in this week’s news:
The Quarterly Lowdown on Payments
Do you want to know what some of the industry’ leading payments experts think about the migration of fraud due to EMV, the rise of mCommerce, the adoptability of biometrics and our culture’s growing denial about smartphone addiction? Of course you do.
Q&A with Jim McKelvey, Co-Founder of Square
Square co-founder Jim McKelvey dishes on pain points in the payments industry, opportunities outside of fintech, and the value of struggling in business. This is an interesting read whether or not you have an interest in Square and what it’s accomplished in merchant services or mobile P2P – although this is a company that has outlasted many a competitor and saw 50 percent growth in gross payment volume in 2015.
Are You Ready for Faster Payments?
We’re weeks away from the availability of same-day ACH. As of September 23, all financial institutions will be able to receive same-day payments; they’ll also have the option to initiate them. Follow this link to the full version of the PYMNTS.com Faster Payments Tracker™, powered by NACHA, for wide-ranging perspective on this long-awaited shift.
Instant Payments from the Consumer’s POV
New York Times
Sometimes it’s helpful to see an issue like fast payments from a consumer perspective. In this New York Times piece, we learn what big banks have brewing on the instant payment front – and how consumers feel about real-time payments and the technology that powers them.
The Wait Is Over! Visa’s Quick Chip Is Here
Have you grown old prematurely while waiting for your EMV payment to process? Visa’s new Quick Chip technology promises to cut transaction times down to as fast as three seconds. On the other hand, consumers may have to wait for merchants to roll it out. For now, it’s available at a few selected retailers.