Square Disrupts in D.C.

Payment Facilitator Mobile Business Compliance Security Payments Industry
Square Disrupts in D.C.
The Washington, D.C., Department of For-Hire Vehicles has tapped leading payment facilitator Square to power an initiative that will move that city’s taxi drivers to a digital platform.

“The for-hire transportation industry has been through disruption with the advent of the e-hailing apps and changing consumer preferences. One of the objectives about what we want to do is to allow the traditional taxi to compete more fairly.”

Now It’s Even Easier to Facebook Feed Yourself

Payment Facilitator Mobile Business Compliance Security Payments Industry
Now It’s Even Easier to Facebook Feed Yourself
Now you have even fewer reasons to stop scrolling through your Facebook feed. If checking nearby restaurants to find one that allowed you to order food directly from its Facebook page was enough to drive you away from the site in search of food, you’re in luck.

Ups, Downs, and “Frothiness” in Between: PF Day Wrap

Payment Facilitator Mobile Business Compliance Security Payments Industry
Ups, Downs, and “Frothiness” in Between: PF Day Wrap
Interest in the business of payment facilitation is growing, not just among companies lured in to monetize transactions and the investors excited to fund fast-growing startups, but also regulators wanting to make sure a new third party isn’t taking advantage of consumers.

And all these eyes on the industry mean payment facilitators themselves, and companies thinking about switching to the model, are hungry for more information about how to run their business to take full advantage of all the opportunity in the space.

First Data Launches New E-Commerce Solutions for PFs

Payment Facilitator Mobile Business Compliance Security Payments Industry
First Data Launches New E-Commerce Solutions for PFs
Payment processor First Data has launched a new e-commerce program for payment facilitators that it’s calling Global PFAC.

As part of First Data’s e-commerce suite of products, Global PFAC offers a single integration interface that allows merchants to settle and fund transactions in more than 40 countries and 17 currencies.

CSBS Seeks to Streamline State Regulation

Payment Facilitator Mobile Business Compliance Security Payments Industry
CSBS Seeks to Streamline State Regulation
There may well come a day when money transmitter laws are consistent across state lines. Baby steps in that direction, however, underline the complicated work that lies ahead if such a dream is to become reality.

The Conference of State Bank Supervisors recently announced its plans to move toward a consistent framework for regulating non-bank entities, including financial technology companies – a plan it called its Vision 2020 initiative.

New Threats From States and Old Ones From the CFPB: PF Regulatory Responsibilities Aren’t Getting Any Lighter

Payment Facilitator Mobile Business Compliance Security Payments Industry
New Threats From States and Old Ones From the CFPB: PF Regulatory Responsibilities Aren’t Getting Any Lighter
As third parties, payment facilitators have a complicated regulatory framework to wade through. And it’s unlikely to get untangled any time soon, especially as state regulators look to clamp down on a payments industry they don’t fully understand, according to panelists at Payment Facilitator Day during the ETA’s TRANSACT 17 conference.

Prepaid, money transmission, data and cyber security, these are perennial worries, one panelist said, but one particular trend in state regulation has her very nervous.

News Roundup: PayPal and Google Expand Partnership Again

Payment Facilitator Mobile Business Compliance Security Payments Industry
News Roundup: PayPal and Google Expand Partnership Again
A roundup of some of this week’s headlines includes biometric authentication news from PayPal and Trulioo, as well as a survey about the challenges of small and medium-sized businesses from WePay.

PayPal has further expanded its relationship with Google, announcing that Android Pay users can now make payments at online merchants using their fingerprints as authentication.

Investors Lured by Hockey Stick Growth of Payment Facilitators

Payment Facilitator Mobile Business Compliance Security Payments Industry
Investors Lured by Hockey Stick Growth of Payment Facilitators
While most people outside the industry don’t know what a payment facilitator is by name, the process of simplifying merchant onboarding to allow merchants to quickly start accepting payments is a business model seeing increased interest from the venture capital community.

According to panelists at Payment Facilitator Day during the ETA’s TRANSACT 17 conference, the payment facilitator industry is still in the very early days, but there’s substantial interest both by software companies looking to follow the PF model and investors looking to funnel money into the model.

Talk to Your Developers! Square Insists They’re Key

Payment Facilitator Mobile Business Compliance Security Payments Industry
Talk to Your Developers! Square Insists They’re Key
Developers, according to Square Developer Lead Carl Perry, are the most important community for many payment facilitators.

It’s not something payment facilitators hear very much, but developers are a core part of the business, and payment facilitators need to make the building of payment solutions streamlined for this group.

And this is especially important as payments and all the features around payments become more complex. With increasing consumer payment options, such as NFC, EMV and bitcoin, and multichannel strategies for acceptance, developers have a challenge to build solutions that keep up with buyers’ quickly changing demands of payments whenever, wherever.

News Roundup: Visa, Mastercard Standardize QR Code

Payment Facilitator Mobile Business Compliance Security Payments Industry
News Roundup: Visa, Mastercard Standardize QR Code
In a roundup of this week’s news, major card brands are continuing their expansion of digital payments acceptance, targeting cash usage at small and micro businesses and at festivals. And eMarketer ventures a prediction about the cross-border e-commerce shopping habits of German consumers.