The Federal Reserve and the Business Payments Coalition just disclosed that 73 organization joined an initiative to pilot a framework for exchanging electronic invoices, and that another 42 organizations will pilot a similar exchange framework for electronic delivery of remittance information across all types of payments.

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On Oct. 14, 2021, the Electronic Transactions Association met with the U.S. House Committee on Financial Services to address a subcommittee hearing titled Cashed Out: How a Cashless Economy Impacts Disadvantaged Communities and Peoples. As a leading trade association, the ETA wanted policymakers to understand its members' commitment to financial inclusion, according to Scott Talbott, senior vice president, government affairs at ETA.

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Stores of the future will be more about experience than product, according to Euromonitor. The global market research firm hosted a virtual event with retail industry leaders on Oct. 14, 2021, to explore the future of the store in a digital world.

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Coronavirus cases in the United States are falling again, according to government data. And while the virus my not yet be under control, there are signs of optimism on the retail spending front. “With consumer spending accounting for roughly two-thirds of U.S. gross domestic product, all eyes are closely watching shoppers’ ability to drive the economy,” said Jack Kleinhenz, chief economist at the National Retail Federation."

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Cryptocurrency is emerging from the shadows, according to a new report, The Crypto Divide, published Oct. 6, 2021 by The Strawhecker Group. Researchers surveyed 600 small business owners about their thoughts on cryptocurrency acceptance and found respondents' perceptions ranged from low awareness to rejection, noted Jared Drieling, senior director of market intelligence and insights at TSG.

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Escalating threats posed by third-party service providers and emerging technologies have prompted governing bodies EMVCo and the Federal Deposit Insurance Corp. to reassess risk mitigation and security strategies, according to recent reports. EMVCo's updated 3DS software and the FDIC's request for comment on third-party risk management reflect emerging omnichannel and interoperability trends in ecommerce and financial services, financial experts noted.

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Mastercard is throwing its network and brand clout behind buy now pay later. It just announced a new platform that allows banks and other lenders, as well as mobile wallet developers, to offer BNPL wherever Mastercard is accepted.

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New research published by dLocal in September 2021 finds significant digital and ecommerce growth in emerging regions, including Africa, Asia, Latin America and the Middle East. Mathieu Limousi, vice president of marketing at dLocal, shared additional insights on global digital commerce trends with The Green Sheet. Following are interview highlights.

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The 2021 ETA Star Awards, presented at the Electronic Transactions Association's Strategic Leadership Forum, held Sept. 27 to 29, 2021 in Carlsbad, Calif., recognized leading payment brands for highly adept approaches to business continuity during COVID-19. Award recipients Celero Commerce, Homebase and NCR Corp. were nimble, flexible and adaptive, stated Jodie Kelley, chief executive officer at ETA.

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A team of researchers in the UK have uncovered a security flaw that could allow crooks to wirelessly pickpocket money from consumers who link Visa cards to their Apple Pay wallets. The vulnerabilities were found in iPhone wallets where Visa cards are set up in "express transit mode," the researchers reported.

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