The Green Sheet Online Edition
October 10, 2024 • 24:10:01
Letter from the editor
In this issue's lead article, we explore a development that could reshape the payments landscape: pay by bank, or account-to-account (A2A) payments. As consumers and merchants seek faster, more secure, cost-effective ways to transact, the direct movement of funds between bank accounts is gaining momentum, driven by real-time payments and the growing adoption of open banking.
While A2A payments have seen impressive growth in developing markets, particularly where card payments are less established, their adoption in the United States has been slower. However, with advancements in fraud detection, dispute resolution and integration into everyday payment systems, pay by bank is poised to make waves in global commerce. Service providers are tackling key barriers to adoption, while major retailers and card networks are taking steps to embrace this new payment method.
Will pay by bank be the future of everyday transactions in the United States? What will it mean for consumers, merchants and financial institutions? Our article explores these questions and offers a glimpse into how this emerging trend could redefine the way we pay.
Another factor affecting payments is the competition ISOs and merchant level salespeople face from fintechs making onboarding via the internet a snap for merchants. This phenomenon and what to do about it is addressed by one of the expert contributors to this magazine. Other experts featured herein discuss projects underway to address challenges remaining as the 2027 deadline for the G20's ambitious cross-border goals loom; an expected increase in card usage at the POS due to the rise in self-serve kiosks at the POS spurred by increased labor costs and advanced technologies; and innovative ecommerce solutions offering small stores tools they need to thrive in the online marketplace.
In addition to new profiles and updates on recent milestones in payments, we've included briefs on full stories posted online, including research showing U.S. merchants face the highest card payment acceptance costs among industrialized nations; new resources released by the U.S. Faster Payments Council to help financial institutions integrate faster payments; The Federal Trade Commission's distribution of $2.6 million in refunds via PayPal to victims of a mobile cash advance scam; and a U.S. Department of Justice's lawsuit accusing Visa of illegally maintaining a monopoly over debit card network markets.To share news of your company's latest developments, please send a press release to press@grensheet.com; for comments and questions, please email greensheet@greensheet.com. 
Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.
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