A joint study on global banking trends by the consultancies Capgemini and Efma found financial institutions are adopting digital technologies to attract, retain and upsell bank customers. The World Banking Report, published in April 2016, is based on surveys of 16,000 customers in 32 countries. Nearly two-thirds of the world's consumers are using fintech solutions in lieu of banks, posing the threat of bank disintermediation and making it imperative for banks to communicate with customers in mobile and online channels, the report stated.

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Visa Inc. recently introduced two initiatives designed to advance the payments industry by improving transaction times and accelerating innovation. The Visa Developer platform, released Feb. 4, 2016, opened the company’s technology suite to software developers worldwide. Quick Chip for EMV (Europay, MasterCard and Visa), launched April 19, 2016, enables chip card transactions to be completed in two seconds or less. “Visa is advancing a streamlined approach to chip transactions to make them faster and more efficient, while still providing a safe and secure experience,” said Mark Nelsen, Senior Vice President of Risk Products and Business Intelligence at Visa. “Quick Chip for EMV helps make the checkout experience comparable to the ease and speed of magnetic stripe transactions.”

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Thousands of payments and fintech professionals gathered in Las Vegas for Transact 16, held April 19 to 21, 2016, at the Mandalay Bay Resort and Casino's Convention Center. The annual conference, hosted by the Electronic Transactions Association, drew a record crowd of approximately 200 exhibitors and 1,000 companies from 30 countries, according to ETA sources. The event included a mobile app and a varied menu of exhibits, presentations and keynote addresses designed to appeal to a diverse international audience.

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In mid-April the Small Business Finance Association released a set of best practices for the alternative finance industry. The new guidelines provide essential steps in four key areas industry members should adopt to best serve small business customers. Stephen Denis, former Deputy Staff Director of the House Committee on Small Business, was hired by the SBFA in December 2015. As Executive Director, he will oversee the creation of a unified voice to advocate for this vital small business lending source. In addition to developing best practices, Denis, who has 12 years' policy experience, is also advocating on behalf of the SBFA's alternative finance technology company members.

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Payments, banking and fintech executives convened April 13, 2016, in midtown Manhattan to discuss the potential impact of blockchain technologies on financial services. Co-sponsored by Opus Consulting and Davis Wright Tremaine LLP, the event was hosted by NYPay, a forum for payments and mobile commerce leaders. The panel discussion was live streamed to remote attendees throughout the world, some of whom participated on Twitter using hashtag #NYPay.

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One of America's fastest growing cities, Atlanta, is becoming known for its high concentration of payments industry companies. Transaction Alley, the city's unofficial moniker, is home to more than half of all U.S. technology firms, and processes approximately 70 percent of all payment card transactions. In his keynote address at the annual Technology Association of Georgia Fintech Conference held in February 2016, TAG President Tino Mantella told 500 attendees to expect more innovation as Transaction Alley gains traction and continues to attract talent and capital. TAG is Georgia's leading technology industry association, serving more than 30,000 members through its regional chapters in Atlanta, Athens, Augusta, Columbus, Macon and Savannah.

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Mobile banking use continued to rise in 2015, as more U.S. residents got the smartphone bug. This is according to Consumers and Mobile Financial Services 2016, a new report from the Federal Reserve. The report is the fifth from the Fed in as many years and examines how consumers use mobile devices to access banking services, make payments and make financial decisions. According to the Fed’s data, 87 percent of adult Americans had mobile phones as of November 2015. This number has remained unchanged since 2013.

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Seattle-based Amazon Payments Inc., a subsidiary of Amazon.com Inc., launched the Amazon Payments Partner Program April 4, 2016. The invitation-only initiative is designed to scale the company's online payment platform through selective integrations with leading e-commerce providers. Select partners will receive tools, services and personalized support to assist with integrating their payment gateways and shopping carts with Amazon Payments. Additional personalized attention, including pre-integration support and best practices, will ensure a mutually profitable experience for Amazon and its partners, the company stated. Eligible merchants in the United States, United Kingdom, Canada, Germany and Japan will receive exclusive benefits and access to the company's knowledge base at no additional charge.

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Retailers are ratcheting up the campaign against debit card interchange. The National Retail Federation, a vocal opponent of interchange, complained in a recent letter to bank regulators that the Federal Reserve should lower the mandated cap on debit card interchange in view of the EMV liability shift that took effect last year. As part of an industry-wide effort to tighten security around the handling of credit and debit card data, the card brands insisted merchants install by October 2015 POS devices capable of communicating with EMV chips in credit and debit cards.

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How and when to add convenience fees to credit card transactions has been fiercely debated since Jan. 27, 2013, when surcharging became legal in the United States as part of a class action settlement against Visa Inc. and MasterCard Worldwide. The ruling was subjected to further scrutiny by some U.S. states and territories, leading to additional stipulations and restrictions. Payment card surcharges, also known as checkout fees, are restricted in 10 states: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas.

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Retail and logistics professionals gathered at the end of March in downtown Atlanta for the Ecommerce Show USA 2016. And their objective was to explore innovations in e-commerce and supply chain optimization in the omnichannel world. Approximately 1,200 attendees from retail, logistics and information technology companies attended the two-day event hosted by Terrapinn Holdings Ltd. and held at AmericasMart, a wholesale trade center where President Barack Obama had given an address the previous day. Worldpay, ThoughtWorks Retail and MailChimp were among the show's 56 exhibitors. A roster of 95 speakers, from technology startups to established brands such as Coca-Cola and Perry Ellis International, shared insights in presentations, roundtables and panel discussions.

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