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Understanding Risk Management Strategies as a PayFac

Stax

Two of the most popular payment solution providers for businesses looking to accept digital payments are payment processors and payment facilitators (PayFacs). In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies.

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Payments Tech Takes Advantage Of Payment Rails Building Blocks

PYMNTS

In an announcement on its website, Paycor said the certification means the company has demonstrated robust compliance and risk management capabilities, adherence to NACHA’s Operating Rules, and adequately addressed disaster recovery and business continuity needs of business clients.

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What Can We Learn From Payment System Failures and Global IT Outage?

The Fintech Times

Problems caused by another ‘glitch’ in a content update for devices running Microsoft Windows, originating from a cybersecurity service provider Crowdstrike. By Friday 19 July, a completely separate issue saw a huge IT outage causing chaos for travel companies, alongside the healthcare and banking sectors.

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Hong Kong Monetary Authority Issues Guidance for Banks on Crypto Custody and Sale of Tokenised Products

Global Fintech & Digital Assets

Banks are expected to apply the follow guidance in connection with their digital asset custodial services: Governance and risk management : Prior to launching digital asset custodial services, banks are expected to undertake a comprehensive risk assessment and to implement appropriate policies and procedures to mitigate identified risks.

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New York Bolsters Cybersecurity Requirements

Global Fintech & Digital Assets

The changes impose more demanding requirements for larger entities, new obligations to report ransomware incidents and payments, and expanded oversight responsibilities for board and senior management. Requirements related to business continuity and disaster recovery have also been included for the first time.

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Why Switch to a New Age Credit Card System?

M2P Fintech

Before upgrading to a new-age credit card system, issuers should evaluate if the credit card solution provider offers the following features. End-to-end stack Juggling between different service providers can be a cumbersome process that leads to inefficiencies, potential data inconsistencies, and increased operational costs.