October, 2024

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Gaining Control of Transaction-Based Fee Structures

Payments Next

by Jim Merchant, Senior Program Director at BHMIFacing rising costs, competition, and complexity, many companies in the payments space are continually seeking The post Gaining Control of Transaction-Based Fee Structures first appeared on Payments NEXT.

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Fiserv nets special banking charter in Georgia

Payments Dive

The payments processor is only the second company to win the special bank charter since Georgia made it available.

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Sneak Peek: 2024 Asia-Pacific Community Meeting Speakers

PCI Security Standards

The excitement is building as we get closer to this year’s Asia-Pacific Community Meeting ! To add to the anticipation, we’re giving you a sneak peek of some of the amazing sessions that will be featured in Hanoi, 20-21 November.

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Bank of England presses on with retail CBDC to plug bank innovation gap

Finextra

The Governor of the Bank of England, Andrew Bailey has re-affirmed his support for a retail central bank digital currency, arguing that central banks are the "only game in town" as commercial banks lack the incentive to push for innovation.

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From Start to Scale: Driving Growth Through Seamless Payments Implementation

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

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BIS Completes Project Mandala, Automating Cross-Border Transaction Compliance

Fintech News

The Bank for International Settlements (BIS) and a group of central banks have successfully completed Project Mandala demonstrating automated compliance for cross-border transactions. Project Mandala was carried out in collaboration with the Reserve Bank of Australia, the Bank of Korea, Bank Negara Malaysia, and the Monetary Authority of Singapore. The initiative showcases how regulatory requirements can be embedded directly into cross-border payment processes, aligning with G20 priorities to ma

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Payments’ Role in Combating E-commerce Fraud Growth

Payments Next

Philip Plambeck, Senior Vice President, International, Computop For retailers, fraud is a serious issue they are actively trying to battle. And it’s The post Payments’ Role in Combating E-commerce Fraud Growth first appeared on Payments NEXT.

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How open banking will shape the future of payments

Payments Dive

The Consumer Financial Protection Bureau released its final open banking rule this month, leading the payments and financial services industries to begin preparing for a new era in data-sharing.

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How to Improve Compliance with Multilingual Cybersecurity Resource

VISTA InfoSec

Cybersecurity matters a lot today, and it touches everyone around the globe. With hackers becoming smarter, protecting information has never been more critical. Now, imagine trying to stay safe online but not understanding the warnings because they’re not in your language. That’s where multilingual cybersecurity comes into play – it breaks down language barriers so everyone can understand how to protect themselves.

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Swift preps live digital asset trials

Finextra

Banks around the world will next year start live trials of digital asset and currency transactions over the Swift network.

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15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

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OCBC Becomes First Singapore Bank to Use Blockchain for Intraday Lending

Fintech News

OCBC announced that it is the first bank in Singapore to offer intraday institutional lending using blockchain technology. This approach aims to maximise returns on excess liquidity through reverse repurchase agreements (reverse repos) conducted on J.P. Morgan’s Digital Financing application, powered by the Onyx Digital Assets platform. OCBC is the first external counterparty with this reverse repo capability on the platform.

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Webinar: Navigating Instant Payments – Case Studies and Operational Insights for Receiving Instant Payments

Faster Payments Council

Join us for an upcoming webinar, sponsored by Endava, on Tuesday, December 10 from 1:00pm-2:00pmCT. In this webinar, industry leaders will explore operational considerations for implementing instant payment systems, featuring insights from financial institutions that have successfully implemented the receipt of instant payments. Attendees will hear firsthand accounts of the journey these institutions took, including key lessons learned and the impact on their operations.

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FV Bank Announces Launch of VISA Debit and Corporate Expense Cards

Fintech Finance

FV Bank, in partnership with Visa, has today announced at Money20/20 Las Vegas (October 27-30), the launch of FV Bank’s new debit cards and corporate expense cards. Available to both U.S. and international customers and businesses, the individual debit cards and corporate expense cards can be used worldwide, providing individuals and businesses with seamless access to their FV Bank fiat and digital asset custody balances offering global payment convenience and enhanced financial flexibility.

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Hurricane Helene aftermath prompts card, cash troubles

Payments Dive

After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.

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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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The Role of PCBs in Cybersecurity

VISTA InfoSec

As fraudsters are continuously finding new ways to strike, we’re continuously finding new ways to prevent them with controls such as encryption, multi-factor authentication, fraud detection software, etc. But not everyone is aware that it all begins with how electronic devices are designed. With the way Printed Circuit Boards (PCBs) are laid out and built, to be precise.

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Tokenisation use cases to be excited about

Finextra

At Sibos 2024, Angie Walker, Global Head of Banking and Capital Markets, Chainlink Labs, explored the topics of blockchain and tokenisation and how they are transforming the existing world as well as how the technology creates opportunities for the future. While historically, across money market and fixed income funds, high quality liquid assets have not been able to be moved, with tokenisation, these funds can be migrated seamlessly and instantaneously on the ledger.

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Cambodia Now Accepts QR Payments from International Travellers via Alipay+

Fintech News

Cambodia has rolled out the integration of Alipay+ with its national QR code system, KHQR for seamless international payments. This launch enables users of 12 international payment apps, including Alipay, AlipayHK, GCash, and Touch ‘n Go, to pay at over one million merchants in Cambodia using KHQR, the country’s standardised QR code. More merchants are expected to be progressively added, further expanding payment accessibility in the country.

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FPC 2025 Spring Member Meeting

Faster Payments Council

Save the date for the 2025 FPC Spring Member Meeting on April 23-24, 2025, at the Westin San Diego Bayview Hotel in San Diego, California. More details coming soon!

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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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New Research Reveals Customers’ Growing Frustration with Payment and Cancellation Issues

Fintech Finance

The FTC’s new “click-to-cancel” rule, designed to simplify the process of ending subscriptions, has created a stir, putting additional pressure on subscription businesses to reassess their strategies. Payment processing platform Solidgate surveyed 1,000 adults and found that 1 in 4 had upsetting unexpected charges with their subscriptions and 80% wouldn’t recommend a subscription service to a friend if they had trouble canceling it, while 1 in 3 consumers cancelled a subs

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New York Governor signs gun code law

Payments Dive

Gov. Kathy Hochul signed a new law Wednesday requiring merchants to use a gun code, saying it could help prevent mass shootings.

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7 Important Theft Protection Features for a Cryptocurrency Wallet

VISTA InfoSec

While you don’t always need a cryptocurrency wallet to trade blockchain assets, using a good wallet to facilitate exchanges is a matter of common sense. Wallets don’t just provide a convenient way to manage your crypto funds, but they also help keep your tokens safe from the malicious parties that are all too commonplace in the world of blockchain currencies.

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Europe's Target Settlement system to join cross-border instant payment project

Finextra

Europe's Target Settlement system is to join Project Nexus, a Bank for International Settlements initiative to connect domestic real-time networks across borders.

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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.

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E-Wallets Rise as Leading Payment Method in Southeast Asia

Fintech News

In Southeast Asia, e-wallets are rapidly emerging as the most used payment method, a trend that’s particularly pronounced in countries like Indonesia and the Philippines where a large proportion of the population still lack access to traditional banking services and where governments are pushing for greater usage of cashless transactions, a new study by Visa shows.

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How modern payments processing has changed: In conversation with BPC

The Payments Association

The Payments Association (TPA)’s George Iddenden recently sat down with Peter Theunis, senior vice president sales and European managing director at BPC to discuss the remarkable transformation of the payments processing industry, driven by the rise of fintech, the shift towards digital payments, and evolving consumer behaviours. The traditionally stable environment, where banks outsourced processing to established providers, has been shaken up by the emergence of fintech players.

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Singapore Based WadzChain Launches Hybrid Blockchain to Simplify Global Payments for Businesses

Fintech Finance

WadzChain Network, a global leader in innovative blockchain technology, announced today the launch of one of the world’s first hybrid blockchains intending to transform global payments for businesses. WadzChain’s user-friendly interface and a highly scalable platform offers the ideal solution for businesses looking for secure, scalable, fast and cost-effective transactions locally or across the globe over encrypted blockchain networks.

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Toast increases processing fees, adds surcharge feature

Payments Dive

The digital restaurant payments provider raised processing fees for some restaurant clients. Separately, it’s aiding clients in adding surcharges on their customers’ orders.

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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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What is the Most Frustrating Experience in SOC 2 Audit and Attestation?

VISTA InfoSec

The SOC 2 (Service Organization Control 2) audit and attestation process is something that has been devised by the American Institute of Certified Public Accountants (AICPA) in order to ensure that organizations which provide services have secure procedures to govern data so as not to compromise the welfare of their clients. For this reason, achieving SOC 2 compliance is crucial for service agencies especially those involved with sensitive customer data.

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Norway's cashless economy drive halted by new cash payment rules

Finextra

Norway's progress to become one of the world's first cashless economy has hit a roadblock under new rules passed by Parliament that oblige shops to accept cash payments alongside other mobile payment and card options.

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6 Asian Companies Recognized Among the World’s Most Promising in Cross-Border Payments

Fintech News

FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, has released its annual selection of the world’s most promising cross-border payments companies in 2024. This year, the list spotlights six companies from Asia, recognizing them for their rapid growth, increasing market significance, and strong potential for future success.