Payments Dive

JULY 31, 2024

Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.

Fraud Prevention 192

Fraud Prevention Consulting Payments AI 192

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

The Payments Association

AUGUST 1, 2024

The move to ISO 20022 brings benefits like enriched data and improved fraud prevention, requiring a strategic approach and decisions between building in-house solutions or partnering with vendors.

ISO 20022 160

ISO 20022 ISOs Fraud Prevention Compliance 160

Finextra

AUGUST 1, 2024

A new cross-border payments infrastructure will enable remittances between the US and Mexico via 140 community banks in rural areas.

Community Banks 144

Community Banks Cross-Border Payments Cross-Border Payments 144

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.

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Payments Dive

AUGUST 2, 2024

Financial institutions expect business clients to be a driver of instant payment revenue, but adopting the technology comes with hurdles, the results of a recent survey showed.

Instant Payments 158

Instant Payments Payments Technology 158

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

Fintech News

JULY 31, 2024

Global payments company Nium has expanded its local funding and collection services to over 40 countries and 15 currencies, with more to come. This expansion enhances Nium’s ability to offer a wide range of local currencies through wire transfers and local payment systems, meeting the needs of various markets, including developing and emerging economies.

Cross-Border Payments 128

Cross-Border Payments Cross-Border Payment APIs and Integration Wire Transfer 128

Payments Dive

JULY 31, 2024

Slowing card volume growth in the network giant’s earnings report this month revived questions about the longevity of its core business.

Volume 158

Volume 158

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

The Fintech Times

JULY 27, 2024

Revolut , the fintech with over nine million UK customers, has joined forces with payments platform Paysafe , to launch cash deposits for all UK customers, just one day after securing a banking licence from the PRA. By introducing cash deposits, Revolut ensures that its customers can deposit their money into their Revolut accounts seamlessly for the first time.

Caps 119

Caps On-Demand Accounts Product 119

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

Fintech News

JULY 31, 2024

Digital banking software provider Backbase has launched its first global Center of Excellence (COE) for Artificial Intelligence (AI) in Ho Chi Minh City, Vietnam. The COE, led by Backbase’s Head of AI Chris Shayan, will focus on developing AI solutions to enhance customer engagement and business outcomes in the banking sector. Located near Saigon Center in District 1, the COE will host a team of engineers specialising in web, mobile, backend, AI, and machine learning, and large language mo

AI 123

AI Industry Trends Innovation FinTech 123

Payments Dive

AUGUST 2, 2024

“In the aftermath of the CrowdStrike outage, Congress and state lawmakers should look for opportunities to build backups and redundancies into critical online systems,” writes a payments consultant.

Credit Cards 147

Credit Cards Laws Consulting Payments 147

Finextra

JULY 29, 2024

JPMorgan Chase has rolled out an inhouse developed Generative AI chatbot to staff, likening it to a having a research analyst at your desk.

Research 126

Research AI 126

PCI Security Standards

JULY 29, 2024

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 so excited to bring you a sneak peek interview with PCI SSC's North America Community Meeting Keynote Speaker, Tom Koulopoulos. Mr. Koulopoulos is Chairman and Founder of Delphi Group, a 30-year-old Boston-based Think Tank, named one of the fastest growing private companies by Inc. magazine, and the founding partner of AcroVantage Ventu

Authorization 112

Authorization Innovation Security Technology 112

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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?

Use Case

Fintech News

AUGUST 1, 2024

ADVANCE.AI, a provider of digital identity verification and risk management solutions in Southeast Asia, has expanded its capabilities in Singapore and Malaysia with an upgraded Know Your Business (KYB) service. The new KYB solution offers a more comprehensive range of data verification, including business registration, company profiles, ownership structures, credit history, and watchlist reports.

Due Diligence 117

Due Diligence Money Laundering AML Verification 117

Fintech Finance

AUGUST 2, 2024

TreviPay’s Joel Campbell has been named as the 2024 CFO of the Year by the Kansas City Business Journal. The annual CFO of the Year award program recognizes financial professionals in the Kansas City region for outstanding performance in their roles as corporate financial stewards. The winners will be honored during an awards event today at Loews Kansas City Hotel.

Audit 111

Audit Advisors Finance Accounts 111

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

The Fintech Times

JULY 31, 2024

Organisations are becoming increasingly aware of sustainable practices and want to show their support in the climate crisis. Looking to make renewable energy initiatives more accessible and to scale them faster, the Global Climate Finance Centre (GCFC), an independent entity focused on catalysing climate investments and solutions across the globe, and the International Renewable Energy Agency (IRENA), the intergovernmental agency for the renewables-based energy transition, have announced a new p

Finance 111

Finance Innovation Research Addressing 111

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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.

Payments

Fintech News

JULY 31, 2024

The banking industry is undergoing a rapid transformation, driven by technological advancements and changing customer expectations. While many banks have embarked on digital transformation journeys, a common misconception persists: that transformation is a one-time event with a clear endpoint. The reality is far more complex. The competitive landscape, marked by the rise of neobanks and fintech disruptors, necessitates continuous innovation and adaptation.

Process 117

Process On-Demand Procedures SWIFT 117

Fintech Finance

JULY 30, 2024

Surfboard Payments is pleased to announce a dynamic partnership with Cardstream Group, the UK’s largest independent provider of white-label payment Fintech. This collaboration aims to bring an unprecedented embedded payment solution to the UK and other markets, offering a white-label multi-channel platform for ISVs, ISOs, PayFacs and their merchants to make in-person and remote transactions.

Payment Solutions 105

Payment Solutions ISVS Innovation Payment APIs and Integration 105

Finextra

JULY 29, 2024

Australian bank Westpac is now offering debit cards to children as young as eight in a move it says will help them hone their financial skills.

Debit Card 119

Debit Card 119

Finovate

AUGUST 1, 2024

B2B payments facilitator Monto is exiting stealth with a $9 million funding round. The Seed funding round was led by Scale Venture Partners. The company plans to use the funds to scale its growth in the U.S. There’s a new entrant in the B2B payments space. B2B payments facilitator Monto emerged from stealth this week, simultaneously announcing a $9 million Seed round.

B2B 105

B2B RTP Facilitators Payments 105

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

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 117

B2B SDN Cross-Border Payments Cross-Border 117

Fintech Finance

AUGUST 2, 2024

Trust Payments , a global leader in customer commerce solutions, has surpassed the £1bn+ milestone in monthly processing volumes for the first time in its five-year history. The company reached over £1bn+ volume in July 2024 driven by the company’s diversified technology portfolio spanning payments, commerce and data. Daniel Holden, CEO Of Trust Payments, said: “Accelerating past the £1bn+ milestone is a huge testament to our compelling proposition in the market, driven by a hyper focus on

Volume 102

Volume Process Payments Facilitators 102

Finextra

JULY 28, 2024

The European Central Bank says there is "room for improvement" after conducting its first thematic stress tests on cyber resilience to determine how well individual banks would respond to and recover from a cyber attack.

Central Bank 116

Central Bank Security 116

Paystand

AUGUST 1, 2024

Table of Contents What is Considered an ACH Payment? What is the EFT Payment Method? What is the Difference Between ACH and EFT in Banking? Why Embrace Digital Payment Methods?

ACH 98

ACH Digital Payments Payments B2B 98

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

Fintech News

JULY 29, 2024

Gemini, an American crypto exchange founded by twins Tyler and Cameron Winklevoss, and Rakkar, a digital asset custodian in Asia, have announced a partnership to advance the adoption of digital assets across Asia. This collaboration will provide Rakkar’s custodial clients with access to Gemini’s trading platform, offering enhanced liquidity and competitive pricing.

APACS 117

APACS Security Continuity FinTech 117

Fintech Finance

AUGUST 2, 2024

Ampere , the neobank providing all-in-one financial services for SMEs, has today announced its partnership with Mastercard to expand its services and transfers offering, marking a milestone in its mission to streamline financial solutions for SMEs. Ampere is now at the forefront of the Neobanking industry enabling its customers access to card-to-card payments, which converts over 60 different currencies at a faster and cheaper rate than traditional banking systems.

Visa 98

Visa Multi-Currency Cross-Border International Payments 98

Finextra

AUGUST 1, 2024

As the banking industry chafes against upcoming rules governing payback to victims of authorised push payment fraud, the Payment Systems Regulator has released new data which shows that reimbursement for victims still depends largely on who they bank with.

Rules 110

Rules Governance Government Regulations 110

Payments Dive

JULY 29, 2024

In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.

BNPL 97

BNPL Rules Credit Cards Regulations 97

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