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What You Need to Know about Singapore’s Upcoming Shared Responsibility Framework

Fintech News

Entities and Types of Scams Covered Under the Shared Responsibility Framework The SRF applies to all full banks, major payment service providers (PSPs), and telcos with major roles in safeguarding consumers’ financial and communication activities. Telcos’ Duties Telcos play a key role in securing SMS channels used in digital banking.

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How To Integrate a Payment Gateway into Sage Software

EBizCharge

Enhanced cash flow management: Integrating a gateway into Sage enables real-time processing of credit and debit card payments, helping merchants collect outstanding invoices faster. Common options include credit and debit cards (Visa, Mastercard, American Express, etc.) and ACH/eChecks for direct bank transfers.

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EBizCharge Supports High-Volume Credit Card Processing Services

EBizCharge

A high-volume merchant account is a payment processing account specifically designed for businesses that regularly process a large volume of credit and debit card transactions. Processing a high volume of transactions increases the chances of encountering fraudulent activity, customer disputes, or regulatory issues.

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ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Stax

ACH Payment Wire Transfer Speed of transactions Typically takes 1-3 days for the receiving bank to receive the funds Within a day for a domestic wire transfer. Global ACH is available but only for bank-to-bank networks Wire transfers have no geographic limitations. No fees on the receiving side.

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5 Best Business Savings Accounts for 2024

Stax

Common fees include: monthly maintenance fees transaction fees overdraft fees penalties for not maintaining a minimum balance. Some banks might offer fee waivers under certain conditions, such as maintaining a combined balance across multiple accounts. All reputable banks in the U.S.

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FedNow is Live. What Changes Should Banking Expect?

Fi911

This is distinct from other customer-centric payment services like Venmo or Zelle in that its implementation hinges on the adoption by banking institutions. This is the inaugural real-time payment system from the US central bank. FedNow is accessible to all banks and credit unions. However, participation is not mandatory.

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Understanding Risk Management Strategies as a PayFac

Stax

Request Quote Why PayFacs Need an Effective Risk Management Strategy Payment facilitators remove the need for businesses to open merchant accounts of their own to accept payments like those from credit cards, debit cards, mobile wallets, etc. This makes it much easier and quicker for businesses to start accepting payments.