NovoPayment, a payment provider focused on Latin America, is working with Visa to help local banks work with Latin American businesses to migrate from their high levels of cash usage to digital payments.
Paysafe Group has introduced a cash-based online payment mechanism for people who don’t have bank accounts or don’t use cards online due to security concerns. The U.K.-based payments services provider is also expanding its presence in the U.S.
Alt Thirty Six is making its digital payment platform focused on the cannabis industry available to the wholesale network of CannTrade, a partnership the companies say will eliminate the need for using cash.
Mastercard's Cardless ATM service, developed with Diebold Nixdorf, resembles the technology many banks have adopted in the last few years — but Mastercard's offering sheds the limitation of being tied to a specific bank's ATMs.
Innovations such as automated smart safes can make it easier to track the flow of paper money, reducing theft risk, and cut down on the number of armored truck pickups, according to Sam Bosch, president and CEO of Peregrin Financial Technologies.
It's vital to be in touch with consumer shopping and payment tastes for individual retail categories and consumer groups. That may or may not include removing cash and human interaction, according to Andrew Wind, principal product manager at Worldpay.
Small and midsize businesses (SMBs) are adapting to digital payments technology at slower speeds and for different reasons than larger enterprises. Cash and checks still account for almost half of all SMB payments, and SMBs have lagged behind other merchants in the U.S. shift to EMV technology.