PYMNTS

OCTOBER 30, 2020

Compliance with oversight laws, especially those involving anti-money laundering (AML) or know-your-customer (KYC) regulations, is a perennial struggle for FIs of all sizes. It cannot be overstated how integral non-cash payments are to the global economy, with the United States processing more than 174.2 consumer purchases made with cash.

Automation 91

Automation Process Disputes AML 91

PYMNTS

JULY 21, 2020

Mastercard on Monday (July 20) announced the expansion of its cryptocurrency partner program to streamline the process for crypto-wallet providers to issue secure, compliant payment cards to their customers. It’s issuing Mastercard-branded payment cards that will allow consumers to pay with cryptocurrency reserves. “We’ve

Visa 127

Visa Cryptocurrency Blockchain Bitcoin 127

PYMNTS

OCTOBER 24, 2018

Fewer consumers use physical currency when making purchases, and are instead turning to more modern, digital methods of payment, particularly when making purchases online with debit cards. This pushed Bonkowski and his team to explore digital authentication solutions to protect its global user base. and around the globe.

Authentication 66

Authentication Push-to-Card AML Debit Card 66

PYMNTS

FEBRUARY 1, 2019

Now, one of Estonia’s biggest innovations, eResidency, where foreigners can get a digital identity card that lets them use online services through government portals, may potentially be a fast route for online money laundering. Kessler has been pushing for more oversight and vetting of applicants.

Money Laundering 51

Money Laundering AML Push-to-Card Breach 51

PYMNTS

APRIL 27, 2020

But it will take weeks for all monies to get to everyone, a timeframe that will likely be pushed as paper checks get sent through the mail to the millions of recipients who don’t have direct deposit set up with the IRS. Very slowly. The check, then, is in the proverbial mail, less than optimally, for people who need access to funds right now.

Blockchain 108

Blockchain Tax Refunds IRS Fed 108

PYMNTS

FEBRUARY 1, 2021

Another few dozen banks will be joining the instant payments scheme this year, said Camporeale, which pushes percentage of accounts that could use instant payments to 90 percent by the end of 2021. To get a sense of the present state — and future — of instant payments, look to Italy.

Real Time Payments 100

Real Time Payments Instant Payments Online and Mobile Banking Push-to-Card 100

Clearly Payments

MARCH 11, 2024

Overall, Cryptocurrency is pushing traditional banks and the overall financial system to become more efficient. Canada, known for its somewhat progressive stance towards financial innovation, has been aware and monitoring this transformative technology. This means capital gains taxes apply when you sell crypto for a profit.

Cryptocurrency 104

Cryptocurrency Consumer Protection Financial Inclusion Payments 104

The Fintech Times

SEPTEMBER 14, 2024

Fintech in Taiwan In 2019, Taiwan’s financial industry spent over $700million on fintech research and development (R&D), as well as AI, AML, biometrics, blockchain, cloud services, cybersecurity, payment and regtech solutions. These economies have since developed into fully advanced nations.

Innovation 119

Innovation FinTech Payment APIs and Integration Non-Bank 119

The Fintech Times

JULY 31, 2024

“Issues such as data privacy, cross-border transactions, and adherence to stringent anti-money laundering (AML) protocols require constant vigilance and adaptation. . “Issues such as data privacy, cross-border transactions, and adherence to stringent anti-money laundering (AML) protocols require constant vigilance and adaptation.

Compliance 64

Compliance AML Due Diligence Regulations 64

PYMNTS

JANUARY 21, 2019

The letter highlighted that access to the payments systems today is only possible through incumbent intermediaries – the banks and the card networks – which have not kept pace with the needs of consumers and businesses. It flew in on Dec. 14, the Friday before the week before Christmas, so you might not have noticed.

Faster Payments 77

Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

FEBRUARY 8, 2018

Essentially, it means handling everything other than card issuing, authorization and transaction processing. Being a program manager isn’t easy. Perhaps that’s why companies like Cascade found themselves so frustrated working under a program manager. The startup remembers struggling to get its program up and running back in 2011. “We

Payment APIs and Integration 67

Payment APIs and Integration OFAC Money Laundering Processors 67

PYMNTS

JANUARY 1, 2021

Many consumers were still facing pandemic-related financial strains going in to the holidays, making flexible payment options all the more important as they began buying gifts. I think, when you’re spending close to $200, BNPL can make it more palatable and make the items more accessible,” Demsky said. “We Digital-First Banking. Disbursements.

Economy 103

Economy Online and Mobile Banking Credit Union Money Laundering 103

The Payments Association

OCTOBER 14, 2024

To rethink the assumptions behind CBDC proposals and push for more privacy-oriented innovative solutions Many central banks and financial authorities worldwide are experimenting with central bank digital currency (CBDC), including the European Central Bank, the US Federal Reserve, and the Bank of England, among others. Why is it important?

Privacy 88

Privacy Addressing CBDC Payer 88

PYMNTS

FEBRUARY 6, 2019

However, ultimately, what pushed him into entrepreneurship once and for all was the same thing that starts so many businesses: real-life friction. Furthermore, the increasing digitization of financial services worldwide meant that the time was right to start offering those solutions.

Issuers 75

Issuers P2P Cross-Border Push-to-Card 75

Stax

JANUARY 15, 2024

Are you struggling with resource constraints caused by soaring credit card processing costs? Credit card surcharging can help offset these expenses, but it can be tricky. TL;DR Credit card surcharging involves adding a fee to transactions with credit card payments, offsetting processing costs. No surprise there.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

PYMNTS

NOVEMBER 15, 2019

This edition includes news about Facebook’s new payments push, Amazon’s new robotics plan and why Google is working more closely with financial institutions. Goldman Denies Discriminatory Apple Card Practices, Says It Will Reassess Limits. Behind Regions Bank’s AI-Powered Digital-First Push. Deutsche Bank told U.K.

Money Laundering 55

Money Laundering Push-to-Card Payments Credit Union 55

FICO

OCTOBER 20, 2020

The UK is home to the most sophisticated Authorized Push Payment (APP) scams in the world. In 2019, banks’ losses of £456 million nearly equaled the £470 million attributed to card not present (CNP) fraud. Now, in 2020, APP scams are expected to eclipse card fraud, fueled by niche schemes related to the COVID-19 pandemic.

Scams 52

Scams Irrevocable Payment Push-to-Card Irrevocability 52

Neopay

JUNE 13, 2024

Notably, 76 percent of Authorised Push Payment (APP) fraud originated online, and 16 percent started through telecommunications networks, emphasising the need for robust security measures and industry collaboration. Ben Donaldson, Managing Director of Economic Crime at UK Finance, highlighted that nearly £1.2

Law Enforcement 52

Law Enforcement Scams Fraud Prevention Crime 52

PYMNTS

JANUARY 20, 2021

The ongoing pandemic has pushed more consumers online to carry out their shopping and banking, with fraudsters following suit. Bad actors have moved to take advantage of the rush to digital payments — particularly those made with debit cards — leaving banks and financial institutions (FIs) racing to keep them off their platforms.

Debit Transaction 52

Debit Transaction Transactions Debit Card Security 52

PYMNTS

NOVEMBER 16, 2018

faces the possibility of losing its charter for AML violations or facing prosecution under the federal RICO statutes if they offer services to cannabis companies. Unlike most American businesses, which pay electronically or by check, most of these marijuana-product firms were forced to pay their federal taxes in cash. And though local U.S.

IRS 70

IRS Legal Payments Push-to-Card 70

PYMNTS

JANUARY 31, 2018

The survey from that identity assurance provider, conducted across 2,000 individuals, found that when it comes to applying for financial products at a financial institution (FI) — from checking accounts to credit cards — 40 percent of those online applications are never finished. Time is a factor, perhaps not surprisingly.

Online and Mobile Banking 61

Online and Mobile Banking Push-to-Card Money Laundering AML 61

FICO

SEPTEMBER 8, 2022

One such cybercrime called Authorized Push Payment (APP) fraud , is a scam where fraudsters trick a target into sending them money. FICO’s research revealed that Indian consumers were the most awake to the threat of Authorized Push Payment fraud. Why consumers are moving to banks with the best fraud and scam prevention. Saxon Shirley.

Posting 52

Posting Real Time Payments Scams Push-to-Card 52

The Fintech Times

JANUARY 17, 2024

Artificial intelligence (AI) has emerged as a new fraud challenge finds ComplyAdvantage , the AI-driven fraud and AML risk detection firm, as it launches ‘The State of Financial Crime 2024’ report. Risks include deepfakes, sophisticated cyber hacks, and the use of generative AI to create malware.

AI 59

AI Financial Crimes Security Crime 59

PYMNTS

SEPTEMBER 18, 2019

As Ufford told Webster, past may be prologue, and the future journey toward proving identities may take a hint from the card networks. “ The card networks have essentially given us the roadmap on how to solve identity when they solved card payments.”. What does it take to build a global identity network?

Verification 63

Verification Cross-Border Online and Mobile Banking Push-to-Card 63

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Virtual card issuance. Business lending and corporate cards. Supporting merchant partner growth. Growing the internet economy.

Online and Mobile Banking 98

Online and Mobile Banking Payment APIs and Integration Payments Push-to-Card 98

PYMNTS

FEBRUARY 19, 2019

That market could reach as much as $5.1 billion in annual sales by 2020, according to one estimate – though some predictions are higher, especially ones that include spending on accessories and growing supplies. Cannabis Spending. The C$54 million number is higher than the original estimate of C$43 million, illustrating the potential of the market.

Legal 71

Legal Payments Push-to-Card Law Enforcement 71

FICO

OCTOBER 20, 2020

The UK is home to the most sophisticated Authorized Push Payment (APP) scams in the world. In 2019, banks’ losses of £456 million nearly equaled the £470 million attributed to card not present (CNP) fraud. Now, in 2020, APP scams are expected to eclipse card fraud, fueled by niche schemes related to the COVID-19 pandemic.

Scams 40

Scams Irrevocable Payment Push-to-Card Irrevocability 40

FICO

APRIL 6, 2020

For over 25 years, credit and debit card transactions have been assessed for fraud risk using AI and machine learning. The methodologies that underpin transaction risk analysis for cards can be deployed for other payment types, with the speed and volumes needed to assess real-time payments. What Banks Can Do. Customer communications.

Real Time Payments 52

Real Time Payments Money Laundering Payee Payments 52

PYMNTS

FEBRUARY 11, 2019

Visa and Mastercard , via their debit rails, enable real-time push payments in support of a number of peer-to-peer (P2P) and business-to-peer (B2P) use cases. The “state” of — well, anything — refers to its condition, the attributes and even the state of “mind” that denotes where we are at any given time on an endeavor. Where We Are Now.

Faster Payments 78

Faster Payments Real Time Payments Same Day ACH Payments 78

Finextra

JUNE 2, 2025

Location Joburg Followers 5 Opinions 22 Follow Unfollow Open Banking has moved from regulatory idea to industry reality, driving transformation by enabling secure, permissioned data sharing between financial institutions and third-party fintechs. The impact has been profound at a macro level. Crucially, Open Banking was just the opening act.

Finance 52

Finance Payment APIs and Integration API Regulations 52

PYMNTS

MARCH 10, 2017

Yunbi did not give a specific date for when withdrawal capabilities would resume, saying it “will be determined after the AML system passed the examination from regulation departments. “What goes up must come down” is, unfortunately, the most appropriate proverb to open this week’s bitcoin tracker.

Bitcoin 46

Bitcoin Money Laundering Digital Currency Push-to-Card 46

PYMNTS

SEPTEMBER 20, 2019

Stripe, of course, launched Stripe Capital earlier this month and is debuting a corporate card, which shows the value of ancillary services delivered beyond processing. Digital IDs: The push toward a global network for ID verification moves forward. We’re quite early in this opportunity.”. Cross-border: Remittances are paying off.

Cross-Border 49

Cross-Border Push-to-Card API Economy 49

PYMNTS

DECEMBER 7, 2016

“Painfully.”. And so began this week’s episode of The Matchmaker Is In. Payoneer CEO Scott Galit used that word to respond to Karen Webster’s question about how marketplace suppliers were paid before digital payments and players like Payoneer who enable those payments existed. How did these marketplaces do that before you came along? SG: Painfully!

Payment APIs and Integration 76

Payment APIs and Integration Payments Wire Wires 76

The Fintech Times

MARCH 22, 2024

Funding and investments SmartSearch, a UK provider of digital compliance and anti-money laundering (AML) software, has signed an agreement to receive a significant equity investment from Triple Private Equity. Appointments 3S Money has welcomed Angela Knight, its current head of risk and compliance, to its board of directors.

FinTech 59

FinTech Cross-Border Payments Money Laundering Embedded Finance 59

PYMNTS

JULY 16, 2019

When people talk about omnichannel as a concept, they are usually referring to the classic retail use case: The customer buys something online and then goes and picks it up at the store, or the consumer picks it up in the store but initiates the return online. These platforms are all focused on customer experience,” Saraf said.

Online and Mobile Banking 55

Online and Mobile Banking Push-to-Card Payroll Transactions 55

PYMNTS

JUNE 18, 2019

The endless speculation over Facebook ’s plans to build a new set of global payments rails and launch a global cryptocurrency comes to an end today with the official launch of Libra. Or does it? Both the Libra network and the Calibra application are expected to launch in second half of 2020. I explain how it all works below.

Payments 98

Payments Online and Mobile Banking Cross-Border Financial Inclusion 98

The Fintech Times

FEBRUARY 28, 2024

Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. As our paytech monthly topic concludes we heard from the industry about the future and what new trends will impact the paytech world.

Payment Solutions 59

Payment Solutions BNPL Payment APIs and Integration Payments 59