article thumbnail

Finastra’s Bacsactive-IP Solution Supports ScotPayments With Prevention of Payments Fraud and Error

Fintech Finance

Unlocking a host of advantages, CoP empowers Direct Debit and Direct Credit users with a proactive approach to error resolution. By catching errors at the signup stage, users can swiftly address issues while engaging with customers on the phone or website, ensuring a seamless experience.

article thumbnail

CFPB Pushes Prepaid Card Rule Implementation Back A Year

PYMNTS

The rule, initially passed, also modified requirements for the prepaid card industry in regards to official procedure on lost or stolen cards, error resolution and investigation, fee disclosures, access to account information and overdraft features, if offered in conjunction with prepaid accounts.

CFPB 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

OCC Issues Policy Guidance on Buy Now, Pay Later Lending

Global Fintech & Digital Assets

In addressing BNPL lending for the first time in the present Guidance, the OCC is flagging for supervised banking institutions the potential risks surrounding a payment arrangement that is growing in availability and popularity among consumers.

OCC 59
article thumbnail

5 Benefits of ACH Payments Over Check Payments

Stax

Because check payments include not only the bank account number but also name and address, this payment method is not a recommended option. NACHA also requires businesses to take responsibility for reversals in the event of errors or duplicate transactions. Regulation E also provides consumers with dispute and error resolution rights.

ACH 88
article thumbnail

Comprehensive Guide to Account Reconciliation

Nanonets

Difficulty in error resolution: Without a properly documented and structured reconciliation process in place, it can be very difficult to resolve errors effectively. Follow-Up Actions : Schedule follow-up actions and reminders to ensure discrepancies are addressed promptly.

article thumbnail

Stripe Reconciliation: The Complete Guide

Nanonets

These detailed accounts serve as invaluable references, offering historical context and aiding in error resolution. Swift Response to Discrepancies : Discrepancies must be promptly addressed, errors rectified and funds recuperated when necessary.

article thumbnail

California Adopts Digital Financial Assets Law

Global Fintech & Digital Assets

Prospective licensees may look to DFS regulations, rules, and guidance that the DFAL generally defers to as a “best practices” guide to ensuring compliance with the DFAL, especially with respect to matters addressed by DFS on which the DFAL remains silent.

Laws 52