Stax

JULY 30, 2024

Credit cards are incredibly convenient as a payment method. The modern-day merchant simply can’t afford not to accept them at their business. Unfortunately for them though, credit card payments come with a cost. For perspective, US businesses paid a staggering $100.77 billion in fees for accepting Mastercard and Visa credit cards in 2023. This was, in fact, the first time that swipe fees for these two card networks crossed $100 billion.

Credit Cards 166

Credit Cards Laws Rules Debit Card 166

Fintech Finance

JULY 30, 2024

In a significant move towards enhancing digital financial inclusion, Salaam Somali Bank , in collaboration with Mastercard , has announced the launch of a digital-first co-branded multi-currency prepaid card designed to revolutionize digital payment solutions. This strategic collaboration aims to cater to the growing needs of international travellers and diaspora communities by providing secure and convenient means of conducting digital payments across the globe.

Multi-Currency 136

Multi-Currency Visa Innovation Point-of-Sale (POS) 136

Finextra

JULY 30, 2024

The Bank of Ghana (BoG) has completed a proof-of-concept into the use of digital credentials for international trade and CBDC-based cross-border payments.

CBDC 128

CBDC Credential Cross-Border Payments Cross-Border 128

Fintech News

JULY 30, 2024

M-DAQ Global, a fintech company based in Singapore, has announced the acquisition of Easy Pay Transfers Sdn. Bhd. , a licensed B2B payments service provider in Malaysia. This move follows a challenging financial year where M-DAQ reported a consolidated net loss of S$26.5 million (approximately US$19.7 million) for 2023, as detailed in regulatory filings, despite achieving a 22.5% increase in revenue to S$59.04 million (US$43.9 million).

B2B 116

B2B SDN Cross-Border Cross-Border Payments 116

Speaker: Jason Cottrell and Gireesh Sahukar

Retailers know the clock is ticking–legacy SAP Commerce support ends in 2026. Legacy platforms are becoming a liability burdened by complexity, rigidity, and mounting operational costs. But modernization isn’t just about swapping out systems, it’s about preparing for a future shaped by real-time interactions, AI powered buying assistants, and flexible commerce architecture.

AI

Finextra

JULY 30, 2024

UBS and CIBC have executed a world-first intraday FX swap transaction on the DLT-enabled Finteum Platform.

Transactions 122

Transactions 122

Fintech News

JULY 30, 2024

GXS Bank, a digital bank backed by Grab Holdings and Singtel, aims to achieve profitability by March 2027, according to Muthukrishnan Ramaswami, GXS’ Group CEO. Grab holds a 60% stake in GXS, while Singtel owns the remaining 40%. The partners have committed US$1.5 billion in capital until March 2027, with no current plans for an initial public offering, according to Muthukrishnan.

Underserved 108

Underserved Assessments Small Business Volume 108

Fintech News

JULY 30, 2024

Charles Wong, who has served as CEO of GXS Bank for four years, announced his decision to step down from the role, transitioning to an advisory position. During his tenure, Charles Wong led the launch of GXS Bank, a digital bank supported by Grab Holdings and Singtel, in August 2022. Charles also led the development of key products like the GXS Savings Account and GXS FlexiLoan.

Posting 108

Posting Continuity Accounts Security 108

Fintech Finance

JULY 30, 2024

Mastercard hosted the second annual Mastercard Ghana Fintech Forum in Accra, bringing together key stakeholders and thought leaders in the fintech industry to discuss critical developments and foster collaboration. Building on the success of last year’s inaugural event, this year’s gathering emphasized the importance of cybersecurity and the growing adoption of contactless payments.

Contactless Payments 98

Contactless Payments Cybersecurity Visa FinTech 98

Finextra

JULY 30, 2024

The Bank of England is seeking input from the private sector on its roadmap for innovation in money and payments.

Innovation 94

Innovation Payments 94

Fintech Finance

JULY 30, 2024

Swedish fintech, Brite Payments , continues to solidify its position as a leader in account-to-account (A2A) payments, also known as ‘Pay by Bank’, with a number of milestones in the first half of 2024 amid widespread industry recognition. Brite Payments appointed its first Chief Commercial Officer , Luke Trayfoot, in April 2024, and the company’s commercial function is growing strongly, in line with future expansion plans.

Instant Payments 98

Instant Payments Payments Accounts End User 98

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

Payments

Payments Dive

JULY 30, 2024

The San Francisco payments giant bought the 4-year-old Salt Lake City startup as it continues its global expansion.

Continuity 88

Continuity Payments 88

Fintech Finance

JULY 30, 2024

AppBrilliance , a pioneer in real-time payment solutions with its cutting-edge Money API platform, is leveraging a recent rule change by The Clearing House to expand use-cases for Real Time Payments (RTP) to closed-loop digital wallets in the US. Companies like Starbucks , CVS , Dunkin ’, Chick-fil-A and many other successful businesses have long provided engaging customer payment experiences with their closed-loop wallets, but had to rely on funding those accounts with conventional paymen

RTP 98

RTP FedNow RFP Payment APIs and Integration 98

The Payments Association

JULY 30, 2024

The realm of cross-border payments is rapidly evolving, with the UK positioned at the forefront of this transformation. As globalisation intensifies and digital economies expand, the need for efficient, cost-effective, and secure cross-border payment solutions has never been greater. So with this in mind we delve into the future of cross-border payments in the UK, examining the driving forces behind this evolution, emerging trends, and the potential impact on businesses and consumers.

Cross-Border Payments 88

Cross-Border Payments Cross-Border Payments Economy 88

Fintech Finance

JULY 30, 2024

WorldFirst , a one-stop digital payment and financial services platform for global businesses, especially serving SMEs in international trade, has launched a function to enable real-time payment between holders of its flagship multicurrency business account World Account as WorldFirst continues to increase speed and efficiency of secure international business payment.

Cross-Border 98

Cross-Border Business Payments Accounts Cross-Border Payments 98

Speaker: Benjamin Woll, Tiffany Spizzo, and Jaime Santos Alcón

Enterprise commerce is at an inflection point. Rigid, monolithic platforms slow brands down, but a full replatforming is disruptive and costly. Modular architecture offers a flexible, scalable alternative - allowing enterprise brands to modernize without ripping and replacing their entire stack. Learn how a composable approach helps modernize commerce stacks while maintaining control over critical systems.

B2C

The Payments Association

JULY 30, 2024

We are excited to announce the expansion of our Financial Crime services to support with Fraud challenges. Fraud continues to be a major risk to all firms, regulated and non-regulated, not just through monetary loss but also regulatory and reputational risk. Download our new Fraud Services brochure to find out more.

Monetary Loss 88

Monetary Loss Financial Crimes Crime Regulations 88

Fintech Finance

JULY 30, 2024

Bybit , the world’s second-largest crypto exchange by trading volume, is excited to launch the Digital Rupee (eRupee) as a new payment method for its INR users. This innovative wallet-based mobile payment solution is now live, offering a secure and convenient way for users to transact on the platform. In response to feedback from Bybit’s INR merchants, the introduction of Digital eRupee aims to address their concerns regarding the security of traditional banking transactions.

Security 97

Security Mitigation Payments Mobile Payments 97

Bank Automation

JULY 30, 2024

PayPal is investing in its platforms and capabilities to keep up with consumer demand for digital payments. “Today, we operate in a massive, $6 trillion plus, global e-commerce market that benefits from the ongoing digitization of payments,” PayPal President and Chief Executive Alex Chriss said during today’s second-quarter earnings call.

PayPal 81

PayPal Digital Payments Consumer Payments 81

Fintech Finance

JULY 30, 2024

New findings show that adoption rates of Open Banking payments are increasing, with more than 58% of fintechs now offering this type of payment for financial services products. The report , published by payments solutions provider Access PaySuite , part of the Access Group , highlighted the importance of providing customers with a range of options, including Open Banking payments, to meet their evolving expectations.

Research 97

Research Continuity FinTech Cross-Border Payments 97

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Bank Automation

JULY 30, 2024

Fintech funding saw a rebound in the second quarter as global funding increased to $8.9 billion, up 11% year over year. The U.S. saw the most fintech funding during the quarter at $4.8 billion across 324 deals, followed by Europe with $1.

FinTech 80

FinTech Service Provider Payments 80

Fintech Finance

JULY 30, 2024

Nexi, the European PayTech, signs an historic agreement with Payac Services CLG , a credit union owned payment services provider, to deliver SEPA Instant payments to all participating credit unions in the Republic of Ireland. As a result of this partnership, 176 credit unions of all sizes will use Nexi’s Instant Payments platform which will allow credit union members to make instant money transfers.

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Credit Union Instant Payments Payments Participant 94

Bank Automation

JULY 30, 2024

Daniele Tonella was named ING’s chief technology officer July 29, succeeding interim CTO Marnix van Stiphout. His appointment is effective Aug. 5. Tonella previously served at group chief information officer and chief executive of UniCredit Services and held roles at AXA Group, Evalueserve and Swiss Life, according to ING’s July 29 release.

Technology 78

Technology 78

Payments Dive

JULY 30, 2024

Alex Chriss, appointed to lead the digital payments business last year, noted the company is benefiting from ties to companies like Facebook parent Meta.

PayPal 78

PayPal Digital Payments Payments 78

Speaker: Becky Parisotto and John Vurdelja

Fulfillment is no longer just about getting products from point A to point B – it's about crafting seamless, scalable, customer first experiences. Flexible fulfillment strategies are more important than ever for those aiming to stay ahead and build resilience as retail enters a new era in 2025. Learn how to optimize fulfillment processes, tackle complex, multi-vendor orders, and create seamless customer experiences – from white-glove delivery for high-value items to quick-ship solutions for ever

Product

Bank Automation

JULY 30, 2024

Bank of Valletta Project Manager of Portfolio Delivery Agata Wolska will speak at Bank Automation Summit Europe 2024 on the state of AI regulation. The summit takes place Oct. 7-8 at Hilton Frankfurt in Frankfurt, Germany, bringing together industry experts to discuss AI, regulation, automation and data.

Automation 75

Automation AI Regulations 75

Finextra

JULY 30, 2024

Primary Portal, a digital platform that aggregates and digitises equity capital market processes for banks and asset managers, has completed the first stage of its £7.5 million Series A funding round led by the venture capital arm of Deutsche Börse.

FinTech 69

FinTech Process 69

The Fintech Times

JULY 30, 2024

The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Tuesday 30 July 2024. Appointments Xsolla, a global video game commerce company, announced the appointment of Cathleen Nilson as the company’s chief financial officer. She has over a decade of finance executive experience at major brands in the technology and gaming industries such as Samsung and Turing.

FinTech 64

FinTech Financial Crimes APACS Crime 64

Finextra

JULY 30, 2024

AI-powered financial crime detection specialist ThetaRay has acquired screening company Screena. Financial terms were not disclosed.

Financial Crimes 64

Financial Crimes Crime AI Acquirers 64

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.

Payments

Finezza

JULY 30, 2024

Bill discounting, or invoice financing is a short-term finance option for businesses, which can help them free up funds tied up in unpaid invoices. As a result, companies can optimise their cash flows and payment cycles without disturbing their balance sheets. It offers advantages to vendors and purchasers alike. Vendors can fuel growth and stabilise […] The post Best Practices for Evaluating Bill Discounting Requests appeared first on Finezza Blog.

Best Practices 59

Best Practices Finance Posting Payments 59

Finextra

JULY 30, 2024

Santander is looking to burnish its credenttials with Gen Z, embarking on a search for talent on TikTok to create an online-native international music band.

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64

Finovate

JULY 30, 2024

Financial crime detection technology company, ThetaRay, has acquired screening specialist, Screena. Terms of the acquisition were not disclosed, but the companies have been partners since the spring of 2022. ThetaRay made its Finovate debut at FinovateFall 2015. AI-powered financial crime detection technology company, ThetaRay , has acquired European screening company, Screena.

Financial Crimes 59

Financial Crimes Crime Acquirers Payment APIs and Integration 59

Finextra

JULY 30, 2024

Airwallex, a leading global payments and financial platform for modern businesses, has selected GoCardless to provide direct debit to its customers across several key markets.

Global Payments 64

Global Payments Payments 64

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

Best Practices