Payments: Plan for dual messaging format to expand offerings

In the ever-evolving payments processing landscape, there are two prominent message formats: ISO 8583 and ISO 20022. ISO 8583 is specifically for card-based transactions, and ISO 20022 covers all transactions including

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Legacy-Fintech Collaboration for Back-Office Transformation

Legacy back-office payment systems have served banks and payment processors well for decades, but it’s clear they can no longer keep pace with new technologies. As the payments industry moves

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How to Maximize Agility and Automation with Rules-Based Payment Processing

Check out this article in PaymentsNEXT from BHMI CTO, Michael Meeks, about maximizing agility and automation with rules-based payment processing software. In this article, Michael explains how legacy payment processing

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5 Reasons to Get a Handle on Chargebacks

Chargebacks are a significant and growing challenge in the payments industry. In fact, a recent study showed that merchants paid more than $100 billion in chargebacks in 2023. The rapid

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Learning from Real-Time Payments Systems Worldwide

While countries in Europe and Asia have moved forward in the adoption of real-time payment systems, the United States still primarily relies on cards and the ACH.  However, that trend

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Can You Afford to Keep Your Back Office?

Software patches and updates won’t cut it in an increasingly competitive payments industry. While some payment processors, banks, and financial services companies try to hang on to their legacy systems,

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4 Challenges in Real-Time Payments and How to Address Them

The payments industry is experiencing rapid adoption of real-time payments because faster payments offer many benefits across the entire economy, including instant settlement, greater transparency, and improved liquidity management.  To support instant

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How a Modern Back-office Improves Employee Retention

As unemployment nears historical lows banks, payments processors, and financial services companies face challenges to find and retain high-quality talent. One of the important areas to consider is ensuring employees

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Managing Disputes for Real-Time Payments

Disputes and chargebacks have long been a challenge for credit card issuers and merchant acquirers, leading to billions of dollars in annual losses. Yet as more of the economy adopts

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Real-Time Payments Can Unlock New Value for Retailers

Interest in real-time payments is growing as consumers and businesses seek faster, more efficient, and more cost-effective methods to transact and move money.  While real-time payments offer retailers faster processing

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