February, 2024

article thumbnail

Data Breaches 101: What They Are And How To Prevent Them

VISTA InfoSec

A data breach could ruin your business overnight. Imagine customer outrage as hackers leak the private details your company promised to protect. Are you prepared to deal with regulatory fines, lawsuits, costly investigations, disrupted operations, and destroyed trust while cybercriminals profit freely from stolen data? That’s the harsh aftermath companies face today following high-profile breaches.

article thumbnail

AI and Payments: Exploring Pitfalls and Potential Security Risks

PCI Security Standards

With the rapid rise in popularity of AI services like ChatGPT, Dall-E, and GitHub Copilot, many people are looking at ways they can leverage the new abilities of these systems to improve their existing businesses.

AI 210
article thumbnail

Card networks to implement gun code in California: report

Payments Dive

Visa, Mastercard and American Express are moving forward with use of a new gun merchant category code for credit card purchases in California, according to CBS News.

article thumbnail

How Open Banking May Affect The Financial Sector

The Payments Association

Open banking unlocks customer data, driving competition and innovation while reshaping the financial landscape for a more inclusive future. Open banking, a.

article thumbnail

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.

article thumbnail

Will Central Bank Digital Currencies (CBDCs) Impact Cross-Border Payments in 2024?

The Fintech Times

Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. As of December 2023, 130 countries, representing 98 per cent of global GDP, were exploring central bank digital currencies (CBDCs) according to the Atlantic Council ‘s CBDC tracker.

article thumbnail

Ledger: Stripe’s system for tracking and validating money movement

Stripe

In this blog post, we’ll share technical details on how we built this state-of-the-art money movement tracking system, and describe how teams at Stripe interact with the data quality metrics that underlie our payment processing network.

Posting 143

More Trending

article thumbnail

Coffee with the Council Podcast: Meet the Council’s New Executive Director Gina Gobeyn

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. Today I am thrilled to introduce the Council's new Executive Director, Gina Gobeyn. Gina joins PCI SSC following the announcement of Lance Johnson's retirement this year. As Executive Director, Gina will drive the organization's strategic direction, its operations, and oversee the PCI SSC senior leadership team and staff.

Security 191
article thumbnail

Aldi debuts Grabango checkout tech at Chicago-area store

Payments Dive

The retailer is working with artificial intelligence startup Grabango to offer the service for the first time in the U.S. at a location in the Chicago suburb of Aurora, Illinois.

187
187
article thumbnail

More Than Half the Fintech Industry Seeing Growth from Strong Consumer Demand

Fintech News

The fintech industry, having navigated through the turbulent waters of the COVID-19 pandemic, has demonstrated not only resilience but also a robust capacity for growth. This period of upheaval has catalysed a significant transformation within the sector, with fintech firms adapting to and capitalising on the changing landscape of consumer demands and regulatory environments.

FinTech 137
article thumbnail

European Banks are Challenging Competitors With Cloud and AI Adoption

The Fintech Times

New research from Economist Impact supported by Temenos has revealed that almost half of European banks are investing in fintech start-ups while 36 per cent are building their own greenfield digital bank or fintech company. The study looks specifically at the attitudes of banks in Europe as it identifies that the majority believe neobanks will be their biggest challengers in the near future.

AI 139
article thumbnail

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.

article thumbnail

How better regulation can power up UK fintechs

The Payments Association

How regulatory reforms and increased capital can drive UK fintech expansion Read more

FinTech 167
article thumbnail

Tap, click and pay: how digital payments seize the day

Finextra

The use of digital payments around the world continued to grow in 2022, while the number of cash withdrawals and small-denomination banknotes declined, according to BIS figures.

article thumbnail

Fintech giant Stripe’s valuation spikes to $65B in employee stock-sale deal

TechCrunch Fintech

Payments infrastructure giant Stripe said today it has inked deals with investors to provide liquidity to current and former employees through a tender offer at a $65 billion valuation. Notably, the valuation represents a 30% increase compared to what Stripe was valued at last March when it raised $6.5 billion in Series I funding at […] © 2024 TechCrunch.

FinTech 126
article thumbnail

Mastercard to be dinged by Discover deal

Payments Dive

While both Mastercard and Visa will be impacted by Discover Financial Services’ plan to be acquired by card issuer Capital One, the former is likely to bear the brunt of the blow.

Visa 174
article thumbnail

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.

article thumbnail

Wealth Management Trends Transforming the Industry in 2024

Fintech News

Emerging technologies are critical for wealth management firms as economies faced a dampened investment environment in 2023, with disappointing equity returns and sky-high interest rates. As a result, wealth preservation became the most crucial goal for high-net-worth individual (HNWI) investors last year. So, how will this shape the wealth management trends in Asia in 2024 Expect a renewed focus on emerging technologies, stable returns, and newer customer segments for wealth management firms.

AI 129
article thumbnail

What Impact Is AI Going to Have on Cross Border Payments Security?

The Fintech Times

Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. In January 2024, we focused on generative artificial intelligence (AI) and how it has emerged onto the fintech scene following its boom in 2023. Artificial intelligence has many uses, and while it can be used for good, it can also be abused by bad actors.

article thumbnail

Gen Z’s impact on credit is bigger than you may think

Tearsheet

Simon Khalaf is CEO of Marqeta. Gen Z has completely changed the narrative for many aspects of our society, including how they approach work and communication – as I know well, thanks to my own teenage daughter teaching me an entirely new vocabulary. Gen Z has also made a profound impact on the financial landscape so far. Contrary to common stereotypes, Gen Z exhibits a high level of fiscal responsibility and aversion to accumulating debt.

BNPL 121
article thumbnail

ECB will only use European suppliers for digital euro build

Finextra

The European Central Bank has been explaining to MEPs its decision to search for possible providers to develop a digital euro platform and infrastructure.

article thumbnail

Secrets of a Successful Sale: Optimizing Your Checkout Process

Speaker: David Nisbet, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

article thumbnail

YC-backed Cambio puts AI bots on the phone to negotiate debt, talk to a bank’s customers

TechCrunch Fintech

A Y Combinator-backed startup called Cambio is bringing AI to the banking world in a surprising way: It’s putting AI bots on the phone with companies and consumers. The startup began by offering an AI-powered service that negotiated debt collections on behalf of consumers, which helped around 70% of customers resolve their collections and raise […] © 2024 TechCrunch.

Bots 123
article thumbnail

Where will embedded payments flourish in 2024?

Payments Dive

There are three areas where embedded finance is a good fit, and they are characterized by high volume and frequent payments, writes one industry executive.

article thumbnail

Alchemy Pay Now Supports AlipayHK, DANA, QRIS, and GCash for NFT Purchases

Fintech News

Alchemy Pay, a Singapore-based provider of fiat-crypto payment solutions, has expanded its services in Hong Kong and Southeast Asia through the integration of popular regional payment platforms into its NFT Checkout. This includes AlipayHK, Indonesian digital wallet DANA, Quick Response Code Indonesia Standard (QRIS), and the Philippines’ e-wallet GCash.

NFTs 123
article thumbnail

Ripple and Axelar Foundation Set a New Standard for Blockchain Interoperability on XRPL

The Fintech Times

As more firms look to enter the blockchain and decentralised space, easy integrations and the ability to develop applications are an absolute must. Ensuring this is possible on the XRP Ledger (XRPL), Ripple , the crypto solutions provider, has partnered with Axelar Foundation , the nonprofit decentralised interoperability network. Axelar network’s integration with the XRPL aims to help bolster the XRPL DeFi ecosystem by providing essential liquidity for stablecoins and large-cap assets.

article thumbnail

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.

article thumbnail

Mastercard and The Clearing House deepen their partnership to zero in on new instant payments applications 

Tearsheet

Mastercard recently expanded collaboration with The Clearing House (TCH), with the shared goal of propelling the adoption of instant payments. This extended partnership will focus on integrating additional instant payment use cases across a range of payment flows for consumers, businesses, and governments. “Beyond extending our partnership with Mastercard, we intend to partner on innovating for the banks that use the network by looking for additional use cases that they’ve expressed interest in

article thumbnail

EU adopts instant payments rules

Finextra

The European Council has adopted a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries.

article thumbnail

Here are the fintech startups that could go public in 2024

TechCrunch Fintech

Could 2024 be the year for fintech IPOs? Quite possibly, according to F-Prime Capital’s State of Fintech 2024 report. F-Prime — a VC firm with over $4.5 billion in assets under management that tracks the performance of emerging, publicly traded and privately held financial technology companies — naturally remains bullish on the fintech space, noting that: […] © 2024 TechCrunch.

FinTech 122
article thumbnail

Why ‘pay-by-bank’ faces adoption hurdles in US retail

Payments Dive

Pay-by-bank has been catching on only slowly, and it’s a particularly long shot for showing up at the point-of-sale anytime soon.

183
183
article thumbnail

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.

article thumbnail

Nium Now Licensed by Japan’s Regulator for Money Transfers Over US$300K

Fintech News

Global payments platform Nium announced that it has secured a payments license to conduct higher-value financial transactions from Japan’s Financial Services Agency (JFSA). According to Nium, it is the first international company to be granted the Type 1 Funds Transfer Service Provider license with the “JFSA recognising its ability to integrate with local payment rails, deliver real-time transactions, provide transparent costs, and offer significantly cheaper rates” This allows

article thumbnail

Fintech Success : Is Innovation the Holy Grail or Evolution the Key?

The Fintech Times

At The Fintech Times we frequently encounter companies touting their latest products as ‘innovative’ that promise to ‘revolutionise’ the industry. While the allure of innovation is undeniable, the question arises: should organisations prioritise refining existing offerings through evolution before embarking on revolutionary ventures?

article thumbnail

Why (and How) to Think About Your ROI of Global Digital Payments

BlueSnap

When CFOs and other business leaders think about their return on investment, it is easy to overlook payments. However, your global digital payments strategy can significantly impact profitability. The post Why (and How) to Think About Your ROI of Global Digital Payments appeared first on BlueSnap.

article thumbnail

Lloyds forms trade digitalisation partnership with WaveBL

Finextra

Lloyds has become the first UK bank to join the WaveBL electronic trade documentation platform, meaning its clients can transfer blockchain-based Bills of Lading across a network of members in 136 countries.

article thumbnail

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.