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The rise of generative AI in payment security: A double-edged sword for data privacy

The Payments Association

It underscores the need for payment firms to balance AI innovation with robust privacy and regulatory compliance to protect sensitive consumer data. Firms must adopt transparent AI practices, enhance regulatory frameworks, and continuously train models to navigate the evolving landscape of AI-driven threats. What’s next?

Privacy 88
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The state of fraud in 2024: Key mid-year takeaways

The Payments Association

In the world of digital payments, fraud is an ever-present threat that continues to evolve, creating serious risks for both businesses and consumers. One of the most alarming trends identified in the report is the continued rise in social engineering scams, which now account for a significant portion of fraud activity.

Scams 88
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The Journey of Payments and Clearing Systems in India

Finextra

This was labor-intensive and time-consuming. 24x7x365 Availability (2019-2020): NEFT and RTGS were made available round the clock, further enhancing real-time payment capabilities. UPI Dominance: UPI continues to set global benchmarks, accounting for nearly 46% of all global real-time digital transactions in 2022.

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Paying by Bank: New Data Reveals Sweden’s Shift Towards Modern Payment Trends

Fintech Finance

Similarly, 23% expressed dissatisfaction with having to manually input card or contact information, describing it as a time-consuming process. Data from 2019 to 2024 indicates that nearly 45% of Swedes are now aware of or have actively used Trustly’s products.

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Stripe Acquires Orum for Undisclosed Amount

Finovate

Orum was founded in 2019 to serve as a single solution for accessing RTP, FedNow, Same Day ACH, ACH, and wires. Since Orum was founded in 2019, the company has raised $82.2 The company’s payment API orchestrates instant payouts, using AI to predict the availability of funds within an account and pre-authorize transactions.

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Payment Processing USA: 2024 Market Overview

Clearly Payments

The payment processing market in the United States has demonstrated robust growth, driven by rising consumer demand for digital payments, advancements in financial technology, and the expansion of e-commerce. This growth is driven by increased adoption of digital payment methods, evolving consumer behavior, and an expanding e-commerce sector.

Process 105
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Pix International Lands in Peru and 6 Other LatAm Countries as B89 and PagBrasil Join Forces

The Fintech Times

Pix has established itself as one of the leading digital payment methods across the globe, and to ensure more countries continue to accept the payment method, Peruvian fintech, B89 has partnered with PagBrasil , the cross-border solutions developer for Pix. This will attract and retain an important consumer segment.