Fintech News

MAY 8, 2024

As digital technologies continue to transform the financial landscape, central banks worldwide are exploring the potential of Central Bank Digital Currencies (CBDCs). Thailand, under the guidance of the Bank of Thailand (BOT) , has been at the forefront of this movement, continuously studying and testing the feasibility of a Retail CBDC since 2018. The country’s latest milestone, the Thailand Retail CBDC (RCBDC) Pilot Programme, marks a significant step forward in understanding the implica

CBDC 120

CBDC Bots Real Time Gross Settlement (RTGS) Non-Bank 120

Payments Dive

MAY 6, 2024

Requests for a slice of the Visa-Mastercard settlement are due by a May 31 deadline. Lawyers are racing to alert eligible businesses.

Settlement 164

Settlement Visa Payments 164

Payments Dive

MAY 3, 2024

“The value proposition of pay-by-bank is clear: merchants win from drastically lower payment costs and consumers win from lower prices,” writes one fintech executive.

FinTech 158

FinTech Consumer Payments 158

Fintech News

MAY 7, 2024

In Q1 2024, fintech venture capital (VC) funding experienced a notable decline, dropping by 16% compared to the previous quarter, new data released by market intelligence platform CB Insights show. The total funding amounted to US$7.3 billion, marking the lowest quarterly level since 2017. Quarterly fintech equity funding and deals, Source: State of Fintech Q1 2024, CB Insights, Apr 2024 The data, presented in the “State of Fintech Q1 2024” report, illustrates the continued downward trajectory i

Payment APIs and Integration 127

Payment APIs and Integration Non-Bank Finance FinTech 127

Speaker: Jason Cottrell

Brands used to look for a vendor who could do everything. Over time, one vendor was no longer enough to meet a brand’s needs, and they added, added and added. Now they need all their vendors to work well together. That’s composable, and only some will make the cut. As customers — and your board — expect you to be in new channels and to rapidly adapt to shifts in the market, the need for true composability is more crucial than ever before.

Technology

Finextra

MAY 2, 2024

The Bank of Namibia has called in NPCI International Payments to help the southern African country develop an instant payments system based on India's hugely successful UPI.

Instant Payments 134

Instant Payments International Payments Payments 134

Bank Automation

MAY 2, 2024

Card giants Mastercard and Visa leaned into AI and generative AI for fraud detection in the first quarter. “We continue to enhance our solutions with generative AI to deliver even more value,” Chief Executive Michael Miebach said during Mastercard’s May 1 earnings call.

AI 115

AI Visa Fraud Detection Continuity 115

Finextra

MAY 7, 2024

Visa is introducing a generative AI tool to assign real time risk scores to transactions in a bid to stop enumeration attacks that use automated scripts and botnets to test for vulnerabilities.

AI 90

AI Automation Risk Transactions 90

Bank Automation

MAY 3, 2024

Financial institutions that have gained agility through long-term technology investments are better prepared to complete mergers and acquisitions with limited client disruption. Technology integration during M&A activity is a customer-centric issue for banks, Danny Baker, vice president of market strategy at technology provider Fiserv, told Bank Automation News.

Automation 112

Automation Technology 112

TechCrunch Fintech

MAY 7, 2024

Daloopa, a startup building AI to extract info from financial reports and investor presentations, has raised cash in a new funding round. © 2024 TechCrunch. All rights reserved. For personal use only.

AI 84

AI Automation Finance FinTech 84

Payments Dive

MAY 2, 2024

The payments processor plans to finish an assessment of operations in the next few months, aiming to streamline its business and pare units it can’t scale.

Global Payments 146

Global Payments Processors Assessments Payments 146

Speaker: Loreal Lynch, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

Payments

Fintech News

MAY 8, 2024

Visa has launched an AI-powered enhancement to its Visa Account Attack Intelligence (VAAI) solution, designed to combat the increasing number of account attacks facilitated by automated scripts and botnets. These attacks, known as enumeration attacks, have contributed to significant financial losses, amounting to approximately US$1.1 billion annually in fraud.

Bots 112

Bots AI Issuers Fraud Prevention 112

Finextra

MAY 8, 2024

Australian Big Four bank NAB is partnering with Banked to launch Pay by Bank capabilities, leveraging Australian open banking rails PayTo to settle near-instant transactions.

Transactions 84

Transactions 84

Clearly Payments

MAY 2, 2024

Merchant services contracts for payment processing are complex. They are long and convoluted. Contracts are not standardized and there is no strict regulation on payment processing pricing so it is very difficult to compare payment processing offers. This is why it is so important to choose the right payments provider. This guide will help merchants understand these merchants services contracts, what to watch out for, and how pricing works.

Process 90

Process PCI DSS Processors Payments 90

TechCrunch Fintech

MAY 8, 2024

Monzo has raised another £150 million ($190 million), as the challenger bank looks to expand its presence internationally — particularly in the U.S. © 2024 TechCrunch. All rights reserved. For personal use only.

FinTech 77

FinTech 77

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Payments

Payments Dive

MAY 6, 2024

Finance leaders are in a unique position to reduce costs and increase revenue by evolving payment processes.

ACH 158

ACH Risk Finance Process 158

Fintech News

MAY 5, 2024

The Bank of Thailand is gearing up to introduce a QR code-based cross-border payment system between Thailand and India, anticipated to be operational by the third quarter of 2024, according to Bangkok Post. Announced by Dr Daranee Saeju, Assistant Governor, Payment Systems Policy and Financial Consumer Protection Group, Bank of Thailand at the recent Money20/20 Asia event in Bangkok, this move aims to enhance the speed and security of international transactions.

Cross-Border 120

Cross-Border Cross-Border Payments Payment Networks Payments 120

Finextra

MAY 7, 2024

New research from RedCompass Labs, a world leader in payments modernization, has revealed that US banks are failing to meet demand for instant payments.

Instant Payments 97

Instant Payments Payments Research 97

Bank Automation

MAY 7, 2024

Chime Financial was fined $3.25 million by the Consumer Financial Protection Bureau today as the digital bank has failed to give timely consumer refunds. According to Chime’s refund policy, the company is required to issue consumer refunds within 14 days.

CFPB 73

CFPB Consumer Payments 73

Speaker: David Azoulay, Marc Stracuzza, Román Tejada, and Guest Speaker Sucharita Kodali

Imagine a retail landscape where every interaction is personalized, every decision informed, and every opportunity maximized 🤔✨ Join us for an exploratory journey into the heart of AI-driven retail innovation. We’ll unveil the transformative potential of AI and data analytics in shaping the future of omnichannel personalization and e-commerce.

AI

TechCrunch Fintech

MAY 7, 2024

Digital banking startup Mercury is layering software onto its bank accounts, giving its business customers the ability to pay bills, invoice customers and reimburse employees, the company has told TechCrunch exclusively. The additional features puts the company in even more direct competition with the likes of Brex and Ramp, two rival fintechs that have for […] © 2024 TechCrunch.

FinTech 81

FinTech Accounts 81

Payments Dive

MAY 7, 2024

When it comes to bridging the FedNow and RTP networks, officials at the Federal Reserve and The Clearing House have slightly different priorities.

TCH 97

TCH Interoperability Fed Federal Reserve 97

Fintech News

MAY 8, 2024

In a promising collaboration, the United Nations Development Programme (UNDP) has joined forces with the Monetary Authority of Singapore (MAS) and the Global Legal Entity Identifier Foundation (GLEIF) to launch Project Savannah, a potentially transformative initiative aimed at empowering Micro, Small, and Medium-sized Enterprises (MSMEs) in their sustainability reporting journey.

Credential 104

Credential Legal Economy Governance 104

Finextra

MAY 6, 2024

Trading platform Robinhood says its cryptocurrency arm has received a Wells notice from the Securities and Exchange Commission, indicating that the US regulator is set to take enforcement action.

Cryptocurrency 88

Cryptocurrency Regulations Security 88

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Explore how integrated payment strategies impact investor and buyer evaluations. Payments are more than a feature — they’re a key to long-term success and market differentiation. They help SaaS companies offer seamless user experiences and efficient operations. Investors and strategic buyers assess these integrated payment strategies as a measure of a company's growth potential and sustainability.

Payments Strategy

NACHA

MAY 3, 2024

Nacha Statement on the Federal Reserve's Requesting Comments to Expand the Operating Days of the National Settlement Service to Include Weekends and Holidays droth@nacha.

Federal Reserve 85

Federal Reserve NACHA Settlement ACH Network 85

TechCrunch Fintech

MAY 7, 2024

Welcome to TechCrunch Fintech! This week, we’re looking at Mercury’s latest expansions, wallet-as-a-service startup Ansa’s raise and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday at 8 a.m. PT, subscribe here. (New day and time, same awesome newsletter!) The big story Digital banking startup […] © 2024 TechCrunch.

FinTech 73

FinTech 73

Payments Dive

MAY 8, 2024

The U.S. accounted for 58% of global commercial card spend last year, but also for 78% of total value lost to card fraud, according to a report by Euromonitor International.

Commercial Card 78

Commercial Card Accounts 78

Fintech News

MAY 6, 2024

Amazon Web Services (AWS) announced that it is set to invest an additional S$12 billion into Singapore’s cloud infrastructure by 2028 during the 10th AWS ASEAN Summit , aiming to bolster its services amid increasing demand. According to a new AWS Economic Impact Study , this investment is projected to contribute S$23.7 billion to Singapore’s GDP by 2028 and support an estimated 12,300 jobs annually across sectors like construction, engineering, and telecommunications, essential to the AWS

AI 109

AI On-Demand Economy Governance 109

Speaker: Jennifer Wright, Michael Scholz, Jasmin Guthmann, and Scott Canney

Digital transformation in retail is so much more than new technology. You need to get your whole organization, from entry-level workers to executives, on board with the new tech, new skills, and culture changes that digital transformation brings. Leading this mindset shift can be a daunting task… but that’s where this webinar comes in! Join our panel of experts as they guide you through the challenges of digital transformation, preparing you to avoid common mistakes and make the most of incredib

Assessments

Finextra

MAY 5, 2024

Wells Fargo has joined JP Morgan in revealing that US authorities are investigating the handling of complaints about P2P payments service Zelle.

Zelle 104

Zelle P2P Authorization Payments 104

FloQast

MAY 2, 2024

We’re big podcast fans here at FloQast. Given the analytical nature of our profession, it should come as no surprise that we’re also huge on true crime. So, today, we’re especially proud to announce our first-ever true crime podcast, Fraud Files: The Rise & Fall of Dawn J. Bennett , available on FloQademy. And the best part? You can earn CPE as you listen.

Crime 99

Crime Due Diligence Advisors Agreements 99

Fi911

MAY 7, 2024

For businesses, the Terminated Merchant File (TMF) is an unwelcome designation analogous to a “no-fly list” for credit card processing. This blacklist is maintained by Mastercard. Alternatively known as the MATCH List, seeks to safeguard banks from extending acquiring services to high-risk enterprises. In certain circumstances, such as excessive chargebacks, data breaches, fraudulent activities, or violation of regulations, a merchant’s account may be terminated.

PCI DSS 70

PCI DSS Processors Compromise Identity Theft 70

Payments Dive

MAY 6, 2024

The bank analyzed its BNPL user data and discovered low-income consumers are more likely to use installment payment services. It’s also popular among Gen X consumers.

BNPL 88

BNPL Consumer Payments 88

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If you're in the software industry grappling with integrating payments into your business model, understanding where others have stumbled can be a game-changer for your revenue goals. Discover 6 key reasons behind the struggles many face. The challenge goes beyond the technicalities of integrating a payment system; it delves into the strategic oversight of revenue shares, negotiations with payment providers, and the full exploitation of potential revenue streams.

Payments