Wed.Sep 04, 2024

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FMPay launches in Cheltenham to empower UK small businesses with simple and secure payment solutions

The Payments Association

FMPay, a licensed payment provider, has launched to offer small businesses in the UK a secure and straightforward way to handle payments. With no monthly fees, competitive transaction rates, multi-currency processing, and advanced fraud protection, FMPay aims to empower small businesses to grow by providing cost-effective, reliable, and transparent payment solutions, supported by a dedicated team.

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Viral JPMorgan Chase glitch is ‘fraud, plain and simple,’ bank says

Payments Dive

Some customers deposited bad checks and immediately withdrew funds before the checks bounced in a glitch that went viral on TikTok. Now, some users have holds on their accounts.

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Mastercard and Visa to face multi-billion pound lawsuits over interchange fees on UK businesses

Finextra

The UK's Competition Appeals Tribunal has given the go-ahead for a $4 billion class action lawsuit brought by UK businesses over Mastercard and Visa multilateral interchange fees.

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8 Southeast Asian Fintechs Featured in Forbes Asia 100 to Watch List

Fintech News

Eight fintech startups from Southeast Asia have been named among this year’s Forbes Asia 100 to Watch list, recognized for capturing investors’ attention, securing substantial backing, and achieving significant success. These companies, which represent countries such as Malaysia, the Philippines and South Korea, are tackling challenges in sectors such as lending, banking, and business finance, leveraging innovative business models and cutting-edge technologies to boost efficiency and enhan

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eCommerce in 2025: How Customer Experience Drives Online Retail Success

Speaker: Jennifer Wright and Nick Barron

2025 is right around the corner, and with it comes a new wave of consumer expectations, competitive pressures, and operational challenges. Success lies in finding the balance between operational flexibility and creating experiences that keep customers coming back. The future of retail belongs to those who can stay ahead of shifting customer preferences and marketing trends. 🔮 In this session, we’ll dive deep into what it takes to keep customers engaged and your operations nimble, no matt

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Academics question digital wallet security

Payments Dive

Due to lax authentication practices, a thief or hacker can easily add a stolen credit card to their own digital wallet, the study concluded.

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Tide hits one million customer milestone

Finextra

Tide, the UK’s leading business financial platform, has reached one million customers (members) globally, a significant milestone for the Company.

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CFPB slammed with EWA commentary

Payments Dive

The Consumer Financial Protection Bureau asked for public feedback on its earned wage access rule proposal and it got an earful.

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Transforming Compliance: The Joint Chiropractic and FloQast’s Accounting Automation Platform

FloQast

In the fast-paced world of healthcare, operational efficiency and robust compliance are non-negotiable. For The Joint Chiropractic (NASDAQ: JYNT), 2021 marked a pivotal year as they embarked on a journey to enhance their accounting operations by integrating FloQast into their processes. The impact proved transformative, dramatically improving their Close process , enhancing workflow visibility, and expediting reporting.

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Paysafe taps FIS alum for CFO amid growth pivot

Payments Dive

The iGaming payments platform is looking to expand on its “robust” performance in the first half of the year with the appointment of new financial leadership.

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Fintech Unicorn Mollie Achieves Triple-Digit UK Growth and Welcomes New UK Managing Director to Fuel Next Phase

Fintech Finance

Mollie, one of Europe’s fastest-growing financial service providers, has appointed Dave Smallwood as its UK Managing Director. This appointment comes as the company scales its UK operations following triple-digit year-on-year growth in the first quarter of 2024. A fintech veteran with over two decades of experience at industry giants including American Express, PayPal, and Super Payments, Smallwood will spearhead the unicorn’s ambitious goal to become the UK’s leading financial service pro

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7 Essential Criteria for Choosing the Right Payments Partner

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.

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GoTo Winds Down Vietnam Operations Amid Intense Ride-Hailing Competition

Fintech News

Indonesian ride-hailing provider GoTo Group is pulling out of Vietnam, abandoning a market where it faced fierce competition, as it sharpens its focus on reaching profitability in its core operations in Indonesia and Singapore. Vietnam’s ride-hailing market remains competitive, with Grab as the current leader and local player Be Group emerging as a strong contender.

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Open Payment Technologies Ltd Expands in Latin America Offering Digital Wallet Services to Argentina

Fintech Finance

Open Payment Technologies Ltd , a payments service processor, has today announced the expansion of its digital wallet services, Kuady , into Argentina. It brings an advanced, user-friendly experience that ensures secure and efficient money management through an e-wallet app. Following successful launch in Peru and Chile, Kuady’s expansion into Argentina will provide global organisations with further access to the Latin American market.

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Thai SEC Updates Rules for Digital Asset Payments, Opens Door to BOT Sandbox

Fintech News

The Securities and Exchange Commission (SEC) in Thailand announced upcoming regulatory changes concerning the use of digital asset payments. Beginning 6 September, restrictions on using digital assets as payment will be eased, and digital asset businesses under SEC supervision will be able to participate in the Bank of Thailand’s Programmable Payment Sandbox.

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Paymentology Strengthens Partnership with Union54 to Launch Virtual Mastercard Debit Cards on ChitChat Social Commerce Platform

Fintech Finance

Paymentology , the leading global issuer processor, today announces a continuation of its partnership with Zambian fintech, Union54 , a company dedicated to providing secure messaging and instant payment systems. Building on the recent launch of Union54’s ChitChat —a messaging app with an integrated payment wallet—this collaboration introduces a USD virtual Mastercard debit card to the platform.

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Loyalty 101: How To Turn Browsers Into Buyers For Lasting Engagement

Speaker: Shaunna Bruton, Danielle Wyllie, and Kailey Holmes

Say goodbye to one-size-fits-all retail, and say hello to experiences that keep your customers coming back for more! Customer loyalty isn’t just earned - it’s cultivated through meaningful engagement with the help of data. This webinar will take you behind the scenes of how top retailers turn customer data into personalized experiences that drive engagement and retention.

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Transactions: Akoya, Nova Credit team up on financial access

Bank Automation

Today, API-connected data access network Akoya teamed up with credit infrastructure and analytics company Nova Credit to allow lenders to deploy cashflow and income data. This will ultimately improve credit decisioning, Misha Esipov, co-founder and chief executive at Nova Credit, told Bank Automation News today. “We have an API connection with Akoya, where customers can […] The post Transactions: Akoya, Nova Credit team up on financial access appeared first on Bank Automation News.

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Nearly £60 Million Stolen in Card Fraud in Past 3 Years

Fintech Finance

Almost £60 million has been reported stolen through card fraud over the past three years in the UK according to new research from Trustly, the global leader in open banking payments. The figures were obtained via a freedom of information request sent to the National Fraud Intelligence Bureau run by City of London Police. Credit card fraud is the most costly and common type of card fraud, according to Trustly’s research.

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FIs weigh in on US open banking regulation

Bank Automation

The Consumer Financial Protection Bureau is expected to finalize its Section 1033 regulation on open banking this fall, and financial institutions are weighing in on the standardization as innovation and institution readiness play a factor. As FIs give their thoughts on the regulation, it’s worth noting that they won’t know the official deadlines and requirements […] The post FIs weigh in on US open banking regulation appeared first on Bank Automation News.

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Closure of the McLEAR Ring Pre-Paid Programme

Fintech Finance

McLEAR Limited is saddened to announce the closure of the McLEAR RingPay prepaid program. Due to the increasing complexity and costs associated with maintaining the McLEAR Ring prepaid program, the company has made the extremely difficult decision to discontinue the program. Moving forward, McLEAR will focus on strengthening and supporting strategic business relationships and continuing to develop new and more efficient technologies.

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Enhance Customer Value: Unleash Your Data’s Potential

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

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Revolut doubles down on B2B market opportunity

Finextra

Revolut's head of business says the fintech is 'agressively doubling down" on the B2B market as annual revenues at the unit surpass $500 million.

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UNIPaaS and American Express Partner to Boost B2B Card Payments for SaaS Platforms

Fintech Finance

UNIPaaS , a leading Payment as a Service (PaaS) provider, has announced a new partnership with American Express that will enable more small and medium-sized businesses (SMBs) to offer their customers the option of paying invoices with Amex Cards through its platform. ‍ UNIPaaS powers Software as a Service (SaaS) platforms’ payment services with a white-labelled, fully managed solution, allowing them to easily offer a unified and seamless acceptance of all relevant payment methods to

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Firms Must Implement Infrastructure to Strongly Govern and Enhance AI Performance, Says Kong

The Fintech Times

Developers working with AI reportedly feel ‘overwhelmingly positive’ about its benefits to business strategy, according to the new ‘2024 API Impact Report’ from Kong Inc , a developer of cloud API technologies. These new findings from Kong suggest that there has been a shift in public perception, with developers choosing to embrace AI instead of fearing it.

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GoCardless Closes Deal to Acquire Nuapay

Fintech Finance

Bank payment company GoCardless has completed the acquisition of Sentenial Ltd, operating under the Nuapay brand, from EML Payments Limited (ASX: EML). The deal, which was announced in March , will significantly scale GoCardless’ indirect channel proposition and fast-track the rollout of new capabilities that will enable customers to send as well as collect money through GoCardless.

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Top Strategies to Future-Proof & Sustain Your Merchant Services Portfolio

Build a sustainable merchant services portfolio with practical strategies to ensure long-term success. Diversify across industries to spread risk and stabilize income, balancing high-risk and low-risk clients for a robust mix. Combine large and small merchants to create a resilient payment portfolio, leveraging each type's strengths. Foster long-term relationships through exceptional service and personalized support.

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What are the Biggest Challenges Facing Compliance Teams?

The Fintech Times

2024 is proving another standout year for the regulatory space, finding itself under the spotlight, for better and worse reasons. This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer and safer.

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Fime Acquires Consult Hyperion, Creating a Global Consulting Leader in Payments, Smart Mobility, and Digital Identity

Fintech Finance

Fime , a global leader in consulting, testing, and certification services, is excited to announce the acquisition of Consult Hyperion , a renowned consultancy firm with expertise across payments, smart mobility and digital identity. The acquisition augments and cements Fime’s ability to deliver comprehensive consulting and advisory services—from ideation to implementation and testing—across these key sectors.

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This Week in Fintech: TFT Bi-Weekly News Roundup 04/09

The Fintech Times

The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Wednesday 4 September 2024. Appointments Malcom Finance ( formerly 4Trans) , a fintech company specialising in financial services for supply chain and logistics SMEs, has appointed the founder of Twisto as a non-executive director. Michal Šmída will actively participate in shaping the company’s strategy, leveraging his extensive experience in building and scaling successful fintech busin

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Enfuce Launches Saldo Bank’s First Payment Card Products, Fuelling Its Rapid Growth Strategy

Fintech Finance

Issuer processing powerhouse Enfuce today announces its strategic partnership with Saldo Bank to launch the bank’s first payment card programme, in a groundbreaking collaboration set to accelerate the neobank’s growth journey in the banking sector across the Nordics and the Baltics. This announcement underscores Enfuce’s commitment to supporting both digital and legacy banks across Europe, including clients such as Kvika Bank, Alisa Bank, Memo Bank, and Indo Bank, in quickly adapting to the ever

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Deliver Mission Critical Insights in Real Time with Data & Analytics

In the fast-moving manufacturing sector, delivering mission-critical data insights to empower your end users or customers can be a challenge. Traditional BI tools can be cumbersome and difficult to integrate - but it doesn't have to be this way. Logi Symphony offers a powerful and user-friendly solution, allowing you to seamlessly embed self-service analytics, generative AI, data visualization, and pixel-perfect reporting directly into your applications.

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Morgan Stanley invests in 3forge

Finextra

Morgan Stanley has made a strategic investment in 3Forge, a provider of code platforms for building mission-critical applications in financial services.

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Global Neobank Fingular Launches “Buy Now, Pay Later” Business in Malaysia Under the Brand AhaPay

Fintech Finance

Fingular , which launched first-in-Malaysia digital lending business under the Tambadana brand, attracted significant attention in recent months after it announced that it had obtained a digital lending license and that it achieved a break-even in just 9 months after launch. Developed with unparalleled dedication in just three months, AhaPay is set to revolutionize the way Malaysians shop.

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Citi reports growing convergence of traditional and digital assets

Finextra

The move to shorter settlement cycles and increasing regulatory clarity is leading to an accelerating convergence between traditional and digital assets, reports Citi.

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Former Delivery Hero Executive Joins Zimpler as COO to Boost Fintech Growth

Fintech Finance

Zimpler , a leading provider of instant bank payment solutions, has appointed Daniel Strömberg as its new Chief Operating Officer (COO). Strömberg, an experienced executive with a history of driving success in finance, tech, and eCommerce, joins Zimpler during a crucial period of growth. Daniel Strömberg joins as Chief Operating Officer (COO), reporting to Zimpler’s CEO Johan Strand, and is part of the company’s leadership team.

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Secure SaaS Success: Embedded Finance as a Competitive Advantage

Speaker: Ian Hillis, SVP of Growth at Payrix and Worldpay for Platforms

Join us for an exclusive webinar hosted by Ian Hillis, SVP of Growth at Payrix and Worldpay for Platforms, where he’ll explore the significant impact of embedded finance on the software industry! This session is designed to provide you with the strategic insights needed to navigate the future of SaaS successfully, all while gaining a deeper understanding of how these trends can enhance your competitive edge, boost revenue, and deepen customer loyalty.