Tue.Jul 09, 2024

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Kazakhstan Sets Open API-Driven Strategy Towards 2025 Goal

Open Banking Excellence

Kazakhstan Sets Open API-Driven Strategy Towards 2025 Goal Open Banking stands at a critical juncture in early 2024 with markets both big and small set to start or continue their journeys. Here in Kazakhstan, we are moving ahead with our transformation that we see as critical for modernising the country’s financial sector by 2025 following a successful pilot project at the end of last year.

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Digital Payments: 12 Digital Payment Options to Consider Accepting in Your Business

Stax

It’s no question that the world has been digitally transformed — both in business and in life. We can hail a ride from a mobile app, and our transactions for all sorts of goods and services can be easily paid for from our phones. Physical wallets are phasing out, left behind in favor of digital wallets and other digital payment options. All you need to use a digital wallet is a smartphone.

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Evolve Bank says ransomware gang stole personal data on millions of customers

TechCrunch Fintech

Evolve has confirmed that the personal data of at least 7.6 million people was accessed during LockBit's ransomware attack. © 2024 TechCrunch. All rights reserved. For personal use only.

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Coffee with the Council Podcast: Meet Three Qualified Security Assessors Who Completed the Council’s AQSA Mentorship Program and Advanced Their Careers

PCI Security Standards

Welcome to our podcast series, Coffee with the Council. I'm Alicia Malone, Senior Manager of Public Relations for the PCI Security Standards Council. In this episode, we'll meet three Qualified Security Assessors, or QSAs. A QSA company is a data security firm certified by the Council to perform on-site assessments of a company's PCI Data Security Standard compliance.

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Provide Real Value in Your Applications with Data and Analytics

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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Outdated Payment Systems Eroding Profit Margins Across Travel Industry

Fintech News

A new report by global payments firm Airwallex and Skift Research reveals that 66 percent of travel companies worldwide are experiencing reduced profit margins due to outdated payment systems. The study indicates that 90 percent of these companies plan to prioritise upgrades to payment and financial operations systems over the next year. The report, based on a survey conducted in April 2024 with 473 travel executives from seven global markets, highlights that 70 percent of travel companies find

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Banking Circle Group Joins the Financial Technology Association

Fintech Finance

The Financial Technology Association (FTA) today announced that Banking Circle Group , a banking and payments leader for the new economy, has joined the association as its newest member. Banking Circle Group is a unique combination of a world-class technology company and a fully licensed financial services company, delivering fast, low-cost global payments and banking services by connecting directly to the world’s clearing systems.

More Trending

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Tokenization Offers Great Benefits: Be Aware of These 5 Pitfalls

Basis Theory

Merchants are always on the lookout for ways to improve their security, while keeping as much friction as possible out of their purchase processes. Some of the options they’ve experienced over the years have had really significant tradeoffs, like 3D Secure , which eliminated a significant volume of fraud but also made it harder for consumers to buy.

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Singapore Banks to Phase Out OTPs for Digital Token Users

Fintech News

Major retail banks in Singapore will progressively phase out One-Time Passwords (OTPs) for digital token users over the next three months. Announced by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), this move aims to better protect customers from phishing scams. Phishing scams were among the top five scam types last year, with at least S$14.2 million lost to these scams, according to the Singapore Police Force Annual Scams and Cybercrime Brief 2023.

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New Collaboration Boosts Fundraising Efficiency for Nonprofit Organisations

The Fintech Times

Swipesum, a payment processing consultancy, and Authorize.net, a Visa solution, are collaborating with 4aGoodCause, an online donation platform, to improve customer support and streamline payment processes for nonprofits. This partnership will offer organisations on the 4aGoodCause platform flexible payment options, enhanced fraud detection, and dedicated payment support.

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NOW Money Partners with Mastercard to Empower Customers with Enhanced Financial Access

Fintech Finance

NOW Money , one of the leading inclusive digital payroll and banking platform for migrant workers, today announced its new strategic partnership with Mastercard , a global technology company in the payments industry. As part of this collaboration, NOW Money customers will be issued a Mastercard payment card, providing them with secure, seamless, and convenient access to their finances and enabling them to reap the benefits of the digital economy.

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Residual Income Strategies: Building a Sustainable 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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Visa launches digital emergency card replacement service

NFCW

Visa has rolled out a Digital Emergency Card Replacement service that makes it possible for cardholders to instantly receive a digital replacement for a lost or stolen card, via text or email, anywhere in the world. “Once received, cardholders can authenticate and add the new card into their digital wallet, offering a convenient, fast and secure solution that helps enhance travel experiences and boost issuer customer satisfaction,” Visa explains.

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Skipify Appoints Payment Industry Veterans from Visa, Airbnb, and PayPal as New COO and VP of Sales

Fintech Finance

Leading fintech company redefining the checkout experience, Skipify appoints Sam Shrauger as the new Chief Operating Officer and Lucy Morse as the new Vice President of Enterprise Sales. Both executives bring extensive payment industry experience from some of the world’s most influential companies across finance, technology and consumer sectors.

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Visa-Mastercard settlement generates thousands of claim conflicts

Payments Dive

Lawyers hope a court-approved extension of the claims filing deadline will provide time for resolution of conflicts and allow other business owners to file new claims in the interchange fee case.

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Ecommpay Works With PayPal to Enable Subscription Payments

Fintech Finance

End-to-end payments platform, Ecommpay , has added a new feature that will allow merchants to collect recurring PayPal payments from customers alongside subscription card payments and direct debits which they have been using to date. The new feature will serve merchants with subscription-based business models, which are selling a product or a service on a recurring basis, such as meal kit delivery services, pay TV, and beauty boxes.

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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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Developing HSBC's Zing app: The role played by Visa, Currencycloud and Tink

Finextra

Visa has revealed its role in the development of HSBC's money transfer app Zing, with subsidiaries Tink and Currencycloud providing key building blocks.

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Outpayce From Amadeus Builds B2B Digital Wallet on Mambu

Fintech Finance

Outpayce, an eMoney institution with a license in Spain, has selected Mambu ’s cloud banking platform to launch its multi-currency digital wallet offering to simplify the end-to-end travel payments experience. Amadeus, a global leader in the travel tech industry, launched Outpayce last year as a standalone entity to evolve its travel payments business, facilitating B2B payments to the travel industry.

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Smart Payment Association reports on growth in contactless payment card shipments

NFCW

CONSUMER PREFERENCE: Customer demand is driving the uptick in contactless card shipments: Nine in ten of the 3.2bn smart payment cards and modules shipped in 2023 included support for contactless payments “as consumers in all markets embrace touch free payments and tap-to-pay goes mainstream”, the Smart Payment Association reports. Total shipments of smart payment cards and modules were up from 2.6bn in 2022, the trade body’s annual review of its members’ smart payment c

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Phos Partners with Shift4 to Bolster Merchant Acquiring Capabilities Across Europe

Fintech Finance

Shift4 (NYSE: FOUR), a leader in integrated payments and commerce technology, announced today a new strategic partnership with Phos by Ingenico, the global leader in software point-of-sale (SoftPOS) orchestration for businesses, to bolster Phos’ acquiring capabilities and expand adoption of its SoftPOS solution for merchant customers across Europe. The partnership will provide Phos merchants with access to Shift4’s best-in-class global acquiring services and payment processing capabilities throu

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6 Innovative Strategies for Mastering Merchant Services Sales

Ready to boost your game and stand out in the competitive world of merchant services sales? Discover 6 innovative strategies that will help you rise above the crowd, from leveraging tech trends and perfecting referral programs to harnessing the power of testimonials and pop-up events. Learn how educating clients can turn you into a trusted advisor and uncover the secrets of building community ties that cement your reputation as a market leader.

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Klarna, Adobe partner on buy now, pay later services

Payments Dive

The tie-up will extend Klarna’s installment payment services to more customers buying from sellers on Adobe Commerce.

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Alipay adds support for NFC mobile payments

NFCW

SIMPLER PAYMENTS: Alipay’s tap-and-pay service turns a smartphone into an NFC tag reader Alipay , China’s leading mobile payments provider and the pioneer of QR mobile payments, has launched a new service that adds support for NFC contactless payments, marking the first time the technology has been adopted by a major player in the world’s largest mobile payments market.

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Swipesum and Authorize.net Partner with 4aGoodCause to Support Fundraising for Mission-Driven Nonprofits

Fintech Finance

Swipesum , a payment processing and merchant services consultancy, and Authorize.net, a Visa solution , are both collaborating with 4aGoodCause , an all-in-one online donation platform, to enhance customer support and streamline payments for mission-driven nonprofit organizations and their donors. Swipesum and Authorize.net will provide organizations on the 4aGoodCause platform with flexible payment options and hands-on customer service and payment management.

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FIX Trading Community and GDF bid to build messaging gateway for digital assets

Finextra

The FIX Trading Community and Global Digital Finance have formed a joint working group with the aim of connecting buyside trading desks with the world of tokenized assets

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Using Data & Analytics for Improving Healthcare Innovation and Outcomes

In the rapidly evolving healthcare industry, delivering data insights to end users or customers can be a significant challenge for product managers, product owners, and application team developers. The complexity of healthcare data, the need for real-time analytics, and the demand for user-friendly interfaces can often seem overwhelming. But with Logi Symphony, these challenges become opportunities.

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BankServAfrica and UnionPay International Enhance E-commerce in Africa

Fintech Finance

BankservAfrica and UnionPay International (UPI) are collaborating to facilitate easier and safer e-commerce transactions for UPI cardholders across Africa’s online merchants. Announced today, BankservAfrica and UPI have joined forces to introduce UPI e-commerce acceptance across several countries in Africa. This builds on UPI’s appointment of BankservAfrica, last December, as its domestic on-soil processor for affordable, accessible, and innovative card payments for South Africa. 

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Galileo rolls out wire transfer API for fintechs

Finextra

Galileo Financial Technologies, a leading financial technology company owned by SoFi Technologies, Inc. (NASDAQ: SOFI), today announced it is arming fintechs with wire transfer capabilities, enabling them to better serve consumers and businesses by offering another option for fast, secure money movement.

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Azqore Selects Volante Technologies’ Payments as a Service

Fintech Finance

Volante Technologies , the global leader in payments as a service, today announced that Azqore , a business and technology partner for wealth managers, has selected Volante’s Payments as a Service (PaaS) to deliver SEPA instant payments and ISO 20022 messaging services to its customer base. Azqore and Volante started working together when Azqore selected Volante’s low-code ISO 20022 service to accelerate its multi-country, multi-bank, ISO 20022 adoption programme.

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Banco Santander and Google offer free AI training for everyone

Finextra

Banco Santander and Google have reached an agreement to offer a free AI course for anyone over the age of 18 the world over.

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How To Craft Your Perfect Retail Tech Stack

Speaker: Jason Cottrell and Brian Walker

The era of all-in-one platforms is over. Now, retail success depends on integrating a blend of diverse technologies to thrive. As customers and stakeholders expect agility and innovation, how can you meet these expectations efficiently without stumbling into complexity? Explore a customer-centric approach to navigating digital transformation in retail.

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Galileo Financial Technologies Helps Fintechs Meet Demand for Fast, Secure Money Movement With Wire Transfer Capabilities

Fintech Finance

Galileo Financial Technologies , a leading financial technology company owned by SoFi Technologies, Inc. (NASDAQ: SOFI), today announced it is arming fintechs with wire transfer capabilities, enabling them to better serve consumers and businesses by offering another option for fast, secure money movement. Through its wire transfer API, Galileo connects fintechs partnering with Community Federal Savings Bank (“CFSB”) with Fedwire via sponsor bank CFSB.

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BIS to Address Data Gaps in Global Value Chain Monitoring with Project Insight

Fintech News

The Bank for International Settlements (BIS) is set to launch Project Insight , an initiative aimed at enhancing the monitoring of global value chains (GVCs) through advanced data analysis. This project seeks to address existing data gaps and improve policymakers’ ability to track trends and shifts within GVCs. Global production and trade, segmented into GVCs, have become standard practice.

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NALA Raises $40m to Build Cross-Border Payments for Emerging Markets

Fintech Finance

NALA , a leading UK fintech company, announced today that it has raised $40 million in Series A funding to support its global expansion and enhance the reliability of payments to Africa by developing its payment rails. The past 12 months have been transformative for NALA. The company achieved a 10x increase in revenue, reached profitability, and had positive cash flow.

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Fifth Third, CFPB settlement a positive for bank, analyst says

Bank Automation

Fifth Third Bank was fined $15 million by the Consumer Financial Protection Bureau today for allegedly opening fake accounts in their customers’ names from an existing 2020 lawsuit.

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Navigating the Future: Generative AI, Application Analytics, and Data

Generative AI is upending the way product developers & end-users alike are interacting with data. Despite the potential of AI, many are left with questions about the future of product development: How will AI impact my business and contribute to its success? What can product managers and developers expect in the future with the widespread adoption of AI?