The Digital Transformation of Tax Filing and Payment and Why Some Communications Still Require Paper

With the extended 2019 income tax filing deadline approaching, Americans now have more options than ever to submit their returns and pay taxes using digital methods. While Form 1040 has been around for more than 100 years, digitally filing income tax returns started off slowly in the mid-1980s.

Digital disbursements: The future of insurance customer relations

In the insurance industry, where the cost of acquiring a new customer is 7 to 9 times more expensive than retaining an old one, strong customer relationships are vital to success. And, in the wake of the COVID-19 pandemic, adapting to customers’ needs is more critical than ever. To remain competitive, providers must continually evolve to meet the growing expectations of today’s insurance policyholder. Despite advancements in payment technology, more than a third of business-to-consumer disbursement payments are still made by check. This can be an expensive and slow process for insurers, especially in comparison to faster payment methods available. Many consumers now expect far more direct and advanced payment processes.

COVID-19: Global eCommerce Sales are likely to rise beyond the crisis and businesses need to prepare accordingly

Since the start of the Covid-19 pandemic, ACI has published a monthly Covid-19 eCommerce Tracker, analyzing global eCommerce sales, consumer purchasing behaviors and fraud trends. Katrin Boettger spoke with ACI’s Debbie Guerra, executive vice president at ACI, about the latest eCommerce trends and the long-term changes the pandemic may bring for consumers and merchants.

Why the Value of Real-Time Payments Is Not in the Fees Charged

I recently hosted a webinar with payments experts to delve into ACI’s Prime Time for Real-Time research and uncover what the rise in global transactions means for the U.S. market. I was joined by Steve Ledford, product executive for the RTP Network of The Clearing House, Reed Luhtanen, executive director of the U.S. Faster Payments Council, and Peter Hazou, director of solutions for Financial Services at Microsoft. We investigated the unique factors that have so far hindered ubiquitous adoption of real-time payments in the U.S., as well as those that highlight the market’s position to capitalize on the global rise of real-time, and deliver value to financial institutions, merchants, corporates and consumers.

Envisioning a Cross-Border, Real-Time Payments Ecosystem in Southeast Asia

Southeast Asia is emerging as the center of real-time, cross-border payments growth, with ISO 20022 and QR codes as critical components, according to new research published by ACI and Kapronasia, a leading financial technology market research and consulting firm. Envisioning a pan-regional, real-time payments ecosystem in Southeast Asia sees real-time payments as a key enabler for the Southeast Asian economy, especially as the region pursues economic recovery and further digital transformation on the back of COVID-19.

SCA: How PSPs Can Help Merchants Stay One Step Ahead

The main objective of PSD2’s Strong Customer Authentication (SCA) is to protect customers and reduce fraud by introducing new measures that ensure that customer-initiated transactions are being made by the genuine cardholder.

The Co-op U.K.: In with the New Does Not Mean Out with the Old

I had the pleasure on May 19 to discuss The Co-operative Group’s consumer payments strategy with Paul Fletcher, Co-op’s Head of Payments. The Co-operative Group is a compelling case study within the U.K.’s convenience grocery sector; steeped in history and tradition, with a culture that demonstrates a real heartfelt pride in its mutual ownership origins. A nod to the past now seems to be a trend among big businesses, as they remind customers of their (usually) long-ago establishments and “origin stories.” But in the case of Co-op, it really does mean something, and it influences everything they do — payments included.

Three Must-Haves for Immediate Payments Success in Brazil

Read this blog post in Portuguese Recently, the Central Bank of Brazil (BCB) announced its plan to launch the country’s first instant payments scheme, PIX, which is expected to be operational by November 2020. PIX will be mandatory for all larger banks in Brazil and will work as a central infrastructure with non-stop availability. The scheme will also be based on the ISO 20022 messaging standard, which features data-rich messaging and facilitates greater availability, speed, convenience and security. Ultimately, this open environment will be a major catalyst for innovation.

Move Over EMV – Meet the Real Protectors of Fuel Pump Payments

There’s much more than EMV for fuel merchants to consider when it comes to blocking fraudsters. Learn why P2PE and tokenization are the data security duo fuel merchants need to block fraud and satisfy genuine customers.

COVID-19 Crisis Will Accelerate Launch of New Digital Payment Services Underpinned by Real-Time Payments

The COVID-19 crisis, and the fact that many millions have been self-quarantining at home, contributed to a spike in eCommerce growth in sectors such as retail and gaming and changing payment behaviors. Katrin Boettger spoke to Adam Needel, principal solution leadership manager —real-time payments, to discuss the impact the crisis may have on the future of digital and real-time payments.

Prime Time for Real-Time: Why COVID-19 Will Drive More Global Payments Innovation

ACI recently presented the findings of its global payments report, Prime Time for Real-Time, during a webinar moderated by Finextra’s Head of Research Gary Wright. Katrin Boettger talked to the panellists — Craig Ramsey, head of real-time payments at ACI; Ruth Fornell, executive vice president within ACI’s retail payments group; and Leo Lipis, CEO at Lipis Advisors — about the new study, and why the COVID-19 pandemic might be a further catalyst for the worldwide adoption of real-time payments.

How Central Infrastructures Provide a Foundation for Real-Time Growth

Almost the world over, societies have been steadily trending away from cash over the last decade – a process that has been rapidly accelerated in recent months as the COVID-19 pandemic has restricted movement and social contact.