Fi911

MAY 22, 2024

A payment reversal is the process through which funds from a transaction are returned to the payer’s account. When a payment reversal occurs, the transaction is effectively undone, meaning that the payee loses the funds that were initially transferred, and the payer regains their money. What is a Refund?

Payer 104

Payer Address Verification System (AVS) Disputes Payee 104

Fintech Finance

AUGUST 15, 2024

The Sionic Fraud Protection Service (FPS) is the final component required for true Pay-by-Bank transactions at the point of sale, alongside verified buyer and seller credentials, a consistent customer experience and automated dispute resolution instantly between payers and payees.

AI 97

AI Fraud Detection Technology Real Time Payments 97

PYMNTS

OCTOBER 22, 2019

Corporate financial services providers taking aim at accounts payable friction this week pulled double-duty with new tools that also addressed friction for clients’ suppliers. Bank introduced a new eBilling tool also designed both for billers and payers. Bank Targets Both Billers and Payers. Finally, U.S.

Payer 40

Payer B2B Commercial Card Faster Payments 40

PYMNTS

SEPTEMBER 26, 2019

Push, or credit, transactions see payers instructing their banks to send money from their accounts to recipients’ accounts, whereas pull, or debit, transactions have recipients’ banks extract money from payers’ accounts. Payers provide PINs or signatures, which grant recipients permission to extract funds.

Payer 67

Payer Push-to-Card Real Time Payments Payee 67

Fintech Finance

APRIL 7, 2025

Directory services play a key role in addressing these challenges by enabling seamless routing of payments and protecting sensitive payment credentials. “By securely connecting payers and payees, directories reduce friction and drive broader adoption. .

Instant Payments 98

Instant Payments Faster Payments FPC Interoperability 98

Fintech Finance

SEPTEMBER 9, 2024

“Addressing fraud risks is a central focus for the payment ecosystem. Many businesses expressed concern with sharing their business identity and payer information as well as performing other online activities including: Opening unsolicited emails, texts or SMS messages (30%).

Online and Mobile Banking 97

Online and Mobile Banking Credit Cards Scams Payer 97

The Fintech Times

FEBRUARY 4, 2024

In all of these cases, the acquirer, i.e. the provider of the service to the merchant has an obligation to perform CDD on their customer, the merchant, but never on the payer. To be clear, payers never get into the CDD scope of e.g to allow European PISPs to compete on a level playing field.

AML 59

AML Payer Regulations Due Diligence 59

PYMNTS

JANUARY 12, 2021

They know addresses, Social Security numbers, names, earnings, dates of birth and more. There is no customer experience between the government, as a payer, and the citizen recipient. “The big Achilles heel right now between the government and modernizing its disbursements is the lack of digital engagement with citizens,” Edwards noted.

Governance 90

Governance Government IRS Payer 90

PYMNTS

SEPTEMBER 14, 2017

In some ways, the app is a reflection of existing corporate payer needs. For example, Mugford explained that the app, and the rest of AscendantFX’s services, can support an array of payment rails based on payer and payee preference. It’s whatever payment rail the user decides.

B2B 55

B2B Payment APIs and Integration Due Diligence Payer 55

PYMNTS

DECEMBER 12, 2018

Dunkin’ said account holders’ first and last names — as well as email addresses, account numbers and QR codes — may have been affected by the incident, which it’s calling a “credential stuffing attack,” a form of automated attack that is different from a data breach. Even the U.S. Postal Service (USPS) has been hit by data problems.

Data Breach 66

Data Breach Payments Faster Payments Breach 66

PYMNTS

MAY 15, 2018

New policies put the onus on payers, not payees, to guarantee accurate information on tax forms. Israch said the onus is now on the payer to collect all necessary tax documents from the payee and validate the info on those forms.

Compliance 40

Compliance Automation IRS Payer 40

PYMNTS

OCTOBER 23, 2017

There are well-documented instances of how much reliance organizations still have on checks, even though this has been something that has been trying to be addressed for 10 to 15 years,” he recently told PYMNTS. Whether it’s an employee or a supplier, payees each have different needs that corporates must keep in mind, Bloh said.

B2B 45

B2B Payee ACH Payer 45

PYMNTS

JULY 31, 2019

In an interview with PYMNTS, Todd McGuire, general manager of supplier success at Tipalti, said the solution addresses a growing need for firms, from small to mid-sized businesses all the way to middle-market companies, to tap into more sources of funding.

Faster Payments 69

Faster Payments Payee Payments Underwriting 69

PYMNTS

OCTOBER 17, 2017

In B2B payments, it’s not just the movement of money that’s a pain point for companies — it’s the tracking of that payment and the ability to reconcile those transactions that can be a major headache for both payers and payees. In an announcement on Tuesday (Oct. Partnerships & New Initiatives, Visa Business Solutions.

Automation 47

Automation Reconciliation Card Issuer Payee 47

PYMNTS

DECEMBER 10, 2019

The convergence of accounts payable (AP) and accounts receivable (AR) continues as banks and FinTechs collaborate on new solutions that pull double-duty, tackling friction for both payers and payees.

Payee 52

Payee Payer B2B Accounts 52

PYMNTS

DECEMBER 2, 2019

2) said Signicat will integrate SurePay’s bank account verification solution within Signicat’s Digital Identity Platform, allowing financial institutions and businesses in the Netherlands to automatically authenticate a payee’s identity with its bank account details.

Due Diligence 40

Due Diligence B2B Payee Payer 40

Nanonets

OCTOBER 23, 2023

Accounting and Reporting: After making the disbursement, the payer reconciles their financial records to ensure that the payment has been accurately recorded and that the account balances reflect the transaction.The disbursement is accounted for in financial statements and reports. Checks are widely used for various financial transactions.

Electronic Funds Transfer (EFT) 52

Electronic Funds Transfer (EFT) Payer Payee Online and Mobile Banking 52

Seon

JUNE 1, 2023

Regardless of the number and types of security features chosen by an organization wishing to utilize high-security checks, their purposes are as follows: to deter fraudsters, reduce fraud, and protect the financial interests of the check payer and payee. Features of High-Security Checks High-security checks have a variety of features.

Checks 52

Checks Security Fincen Payer 52

Neopay

NOVEMBER 27, 2023

Consultation process Comments to the consultation paper can be sent by clicking on the “send your comments” button on the EBA’s consultation page.

Money Laundering 52

Money Laundering Consulting Finance Travel Rule 52

PYMNTS

JANUARY 21, 2020

Aronica noted an array of strategies that businesses should deploy to encourage payers to settle invoices faster. “Offering payment methods that are convenient to the payee gives them the ability to interact with you in a time and method that is best for them,” he said. “Every payee is different,” he said.

Accounts 64

Accounts Payee Automation Payer 64

PYMNTS

DECEMBER 11, 2018

The freelance and gig work economy continues to grow, creating wide-open opportunities for FinTechs and service providers addressing a range of new pain points for both the talent and the employer. PYMNTS data reveals that this growth could be even faster if one of the biggest challenges of freelancing were addressed: getting paid.

Payroll 71

Payroll Cross-Border Cross-Border Payments Direct Deposit 71

PYMNTS

AUGUST 7, 2018

“The intent of the organization is to help payers better identify [the] payee information they need in order to make electronic payments,” he said in an interview, adding that the directory aims to be “payment agnostic” and support payments made via a variety of rails, including FedWire, ACH, SWIFT, lockbox and, yes, paper check.

B2B 40

B2B Federal Reserve Payee Payer 40

The Fintech Times

MAY 26, 2024

Addressing privacy concerns Promoting CBDCs with a range of benefits aside, most consumers are concerned about privacy issues, says Andrew Carrier , member of the executive committee at blockchain finance firm Quant. . Nigeria’s eNaira can hardly be considered a huge success, as it failed to encourage significant levels of adoption.

CBDC 98

CBDC Central Bank Multi-Currency Privacy 98

Nanonets

SEPTEMBER 21, 2023

Here is a brief overview of the process: Initiation: The payment process begins with the creation of an electronic payment request by the payer. This request includes data such as the payment amount, payee information, and payment due date. The payee may also send an electronic message to confirm receipt of the payment request.

Payment Solutions 52

Payment Solutions Payee Payments Payer 52

PYMNTS

MAY 1, 2020

In many ways, the rise of crypto and digital currencies like Bitcoin aims to address some of these issues, empowering payers and payees with a way of bypassing the “middleman” of the inter-banking system for faster transaction speeds.

Digital Currency 68

Digital Currency Accounts Cross-Border Stablecoins 68

PYMNTS

DECEMBER 27, 2016

All these transactions involve large, cross-border payments, which are typically complex, non-transparent and fraught with challenges for both the payer and payee. Both payers and payees are looking for protection against fraud and assurances of compliance with any international regulations. Security is also important.

Cross-Border Payments 45

Cross-Border Payments Cross-Border Payee Payer 45

Neopay

JULY 18, 2024

Legal basis Article 36 (first and second subparagraphs) of Regulation (EU) 2023/1113 and Article 19a(2) of Directive (EU) 2015/849 mandate the EBA to issue guidelines to competent authorities, PSPs and CASPs on: (a) the measures those providers should take to comply with certain articles of Regulation (EU) 2023/1113; (b) the technical aspects of the (..)

Travel Rule 52

Travel Rule Money Laundering Rules Finance 52

EBizCharge

JULY 15, 2024

The primary difference hinges on whether the payer remits funds before or after receiving the benefit of a service or product. However, it also means that providers must manage a delay in receiving payments and be prepared to address potential overdue payments. This ensures both parties understand when the payment is due.

Disputes 52

Disputes Payer Legal Service Provider 52

PYMNTS

DECEMBER 26, 2019

The payment experience is a critical aspect of addressing both AR and AP needs, he continued, with businesses not only requiring transparency and convenience, but also choice. Harnessing scale will also become increasingly important for the future of B2B and B2C payments innovation, in the context of remittance payouts and beyond.

Accounts 53

Accounts B2B End User Payer 53

FICO

JUNE 26, 2018

The appointment of a steering committee to seek consensus on the details of the code including: Pre-conditions for payer and payee on standards that meet the criteria for recovery of stolen money. There are additional factors that mean that it’s not simple to address. The standards PSPs will be expected to follow.

Real Time Payments 63

Real Time Payments Instant Payments Irrevocable Payment Irrevocability 63

Stax

MARCH 14, 2024

Choosing a B2B payment system crucial to addressing common challenges that B2B payment systems face as well as improving client experience. Most of these challenges can be addressed by choosing the right payment provider. Payments work by giving the payer a link to complete the transaction. Learn More What are B2B Payments?

B2B 88

B2B Process B2C Credit Cards 88

PYMNTS

FEBRUARY 28, 2019

It aims to instead provide quicker, smoother processes by enabling digital payments to various youth sports stakeholders, online or via mobile app, with funds pulled directly from payers’ bank accounts and sent into payees’ accounts. Reconciliation and Automation.

Reconciliation 43

Reconciliation Payments Payee Payer 43

PYMNTS

NOVEMBER 14, 2019

Platforms and payment service providers are seeking digital, integrated payment experiences that are so seamless, neither the payee nor payer take much notice that a transaction has even occurred. Increasingly, the gold standard for payments is invisibility. Such is a standard that is making its way to the payroll space.

Payroll 50

Payroll Faster Payments Cross-Border Payments 50

PYMNTS

JANUARY 14, 2020

But while the tool aims to offer an alternative to traditional payment rails, Murray explained it is not intending to challenge the banks by enabling payers and payees to transact without services of FIs. The service is developed on blockchain using stablecoin virtual currency pegged against the U.S.

Innovation 53

Innovation Cross-Border B2B Cross-Border Payments 53

PYMNTS

FEBRUARY 20, 2018

In addition, innovators the world over are exploring how technologies like blockchain could address payments speeds and efficiency on an international level. Financial literacy is also key, while regulatory initiatives to address a decline in correspondent banking relationships — critical to cross-border payments — may also help.

Cross-Border Payments 43

Cross-Border Payments Cross-Border International Payments Electronic Funds Transfer (EFT) 43

PYMNTS

MARCH 29, 2018

But with an intermediary FinTech facilitating these transactions, Chanda said his customers are less inclined to delay vendor payments, while the transaction itself is less likely to include errors because the payer has handed off the payment process to a specialist. They certainly don’t want to close off avenues of revenue generation.

Checks 43

Checks B2B ACH Payments 43

PYMNTS

DECEMBER 12, 2017

That’s the status quo in corporate payments, and it’s not only creating friction for the business payer; it’s creating headaches for small business (SMB) accounting too. Cards, for instance, can address many areas of friction for smaller-value B2B transactions, while ACH is an appropriate rail for high-value B2B payments, the executive added.

Accounts 44

Accounts Wire Transfer Wire Wires 44