Hvor Banks Pair Up To Improve Age-Old Business Friction
Providing global customers localized payment experiences that match their expectations is fundamental to the travel industry, but it also can be difficult to deliver on these expectations when businesses enter new markets. The process of adopting new payment methods, fighting fraud and shopping for new service providers tends to become more complex as payments stacks grow more intricate.These are only a few of the key challenges that travel businesses face as they expand, according to Michael Gradek, co-founder and chief technology officer at travel site Busbud, which enables consumers to search, compare prices of and book intercity bus and train tickets for both domestic and international travel across 85 countries.Gradek spoke to PYMNTS about how Busbuds payments strategy has evolved over the course of the companys international expansion, offering a firsthand account of the benefits and scalability that payments orchestration has yielded. When founded, Busbud was focused chiefly on making its payments of
stanley cup ferings both easy to use and secure, but delivering tha
stanley de t easy-to-use, secure payments experience grew more complicated as the company entered new markets. As we covered mor
stanley cup e and more countries, we needed to partner with more payment processors to handle local payments more effectively, Gradek said.Busbud began searching for new ways to streamline its back-end processes, not only to enhance the end users experience, but also to make the companys own payments operations more Ibkd FinTech IPO Index Leaps 8.9% Thursday but Upstart Signals Tough Times Ahead
Apple Pay is violating the Dodd-Frank Act Durbin amendment, retail
stanley mugs er groups say at least the way Apple mobile payments system is currently implemented and the groups are calling on Apple, Visa and MasterCard to meet the requirements of the law, American Banker reported on Monday April 6 .The problem: Durbin requires that merchants have payment routing options for debit-card transactions that aren ;t affiliated with Visa and MasterCard, and which presumably have lower fees. But merchants complain that Apple Pay doesn ;t let them choose how the tokenized transactions are routed and as a r
stanley cup esult, they ;re discovering that Apple Pay transactions are costing them more than regular plastic payment-card swipes.The accusations come after a month of complaints and finger-pointing over Apple Pay-related fraud, lack of usage by iPhone owners and failures of merchant support and there no lack of finger-pointing on this issue either.While legal and technical opinions vary, all the players merchants, card networks, processors, card-issuing banks and acquiring banks which accept transactions for merchants seem to agree on two things: First, there are ways for Apple Pay and other mobile payments systems that use tokens to obey the Durbin requirements. And second, whoever fault it
kubki stanley is, it not theirs.For example, merchant groups say they can ;t choose less expensive routing because Visa
