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Best Fintech Innovations Transforming Small Business Banking

Finextra

Entrepreneurs can authenticate documents like agreements or payment orders electronically, using encryption to verify identity and ensure legal validity. Automated Tax Processing: Facilitate hassle-free payments through API-driven automation, enhancing accuracy in financial reporting.

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ClearBank Onboards First Clients to T2 European Payments System

Fintech Finance

Central banks and commercial banks can submit payment orders in Euro to T2, where they are processed and settled in central bank money, i.e. money held in an account with a central bank. T2 is the real-time gross settlement (RTGS) system owned and operated by the Eurosystem. Following the opening of ClearBank Europe N.V.,

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CoCoNet Partners With Raifeissen On B2B Payment, Cash Management

PYMNTS

There will be a customizable dashboard allowing users to select the offerings best suited for their needs, and customer self-service will also be available, according to the release.

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Kabbage Steps Into SMB Payment Processing

PYMNTS

The company announced the launch of Kabbage Payments on Thursday (Oct. 24), a payment processing tool for small businesses to support faster invoice payments and accelerate accounts receivable. Small business customers can generate a unique URL to provide customers with a link to send card payments via text, email or web.

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From PSD2 to PSD3 and PSR – European Parliament sets out its vision on the future of payments

Neopay

The Parliament maintains the Commission’s proposal to provide for the option that payment institutions may open safeguarding accounts with central banks, as payment institutions have frequently faced the challenge that credit institutions refused their requests.

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FTC Bans Rogue Payment Processor In Settlement Over Alleged Scams

PYMNTS

The FTC said in the release that the defendants used payment orders and created checks, all remotely, to facilitate payments for dishonest merchants, allowing them to draw money from consumer victims’ bank accounts. District Court for the Western District of Texas.

FTC
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Payment Automation: The Future of Business Transactions

Nanonets

Payment Execution: During the payment execution phase of the automated process, approved payments are scheduled and transmitted. Once the payment is made, the details are synchronized back to the accounting system, and the invoice is marked as paid.