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The shift toward digitised payments brings heightened concerns about cybersecurity, fraud, and regulatory compliance. As Asian markets surge, they face the dual challenge of safeguarding digital infrastructure while ensuring financialinclusion and bridging technological gaps between advanced and developing economies.
Initiatives like QRIS (Quick Response Code Indonesian Standard), a national standard for QR code payments launched in 2019, have allowed for standardization, making it easier for businesses and consumers, while collaboration between the government and fintech firms have helped enhance financialinclusion through clear regulations.
EBizCharge is thrilled to be named the Best EmbeddedPayments Solution in the 2024 PayTech Awards USA. The PayTech Awards USA recognizes excellence and innovation in the banking, financial technology, and payment sectors. For more information, visit [link].
We hear from industry experts on how embedded finance ensures the checkout experience is financiallyinclusive. “Doing so accommodates individuals who may not be able to access traditional banking services, or those who prefer to use alternative payment methods.
Miroslav Pekrek , CPO noted: “The future of fintech powered by AI is promising, with significant advancements expected in customer service, risk management, cost, operational efficiency, and financialinclusion.
Expect to see more larger banks launching embedded finance platforms to take advantage of being able to expose existing operational capability, as well as more partner banks seeking to develop more in-house operations to serve the market.”
Open finance is no longer a compliance exerciseit is redefining the way financial products are built, distributed, and embedded into daily life. Embeddedpayments, dynamic credit offers at the point of sale, and hyper-personalised customer experiences are emerging as critical differentiators.
The Universal Postal Union (UPU) , a UN agency that serves as a forum for cooperation between postal sector players, and Visa, a digital payments company, have announced a strategic collaboration to expand access to digital postal financial services within the UPU network.
While the world still has a long way to go to achieve gender parity in financialinclusion and literacy, our data highlights that in the U.K., The post Marqeta Research finds British Women Adopting Next Generation of Financial Services More Quickly than Men appeared first on Fintech Finance.
Pay by Bank is an embeddedpayment method powered by open banking that enables consumers to initiate payments directly from their bank account. TransferGo provides more accessible financial services to over seven million customers, as it aims to make international money transfers simpler, faster and lower cost.
Generational trends show younger users leading the adoption of digital wallets and stored credit cards, while older demographics continue to prefer traditional methods like bank transfers and debit cards, underscoring the need for inclusivepayment solutions.
Under-representation Kate Hampton, chief strategy officer, NMI Kate Hampton, chief strategy officer at embeddedpayments solutions provider NMI, said: “Having worked in the technology and payments sector for almost two decades, I have gained a deep understanding of the critical importance of addressing DEI within the fintech industry.
Pay by Bank is an embeddedpayment method powered by open banking that allows consumers to initiate payments directly from their bank account. Ian Morrin, Head of Payments and Platforms at Tink, commented: “Pay by Bank is one of the most frictionless ways to pay online.
The recent funding is being used to increase our loan book–which we are currently doubling year-on-year–advance financialinclusion, and accelerate our progress in launching new product lines. ZaakPay, the payment gateway arm of India’s MobiKwik, partnered with Meta to provide an embeddedpayment option via WhatsApp.
We have the opportunity to do something, and I think it’s our obligation to try and go do so … I don’t think so much of it as financialinclusion, as I do about it as financial health. A lot of people define financialinclusion as connectivity into the financial system.
Retailers, technology firms, and even healthcare providers are entering the embedded finance space. By embeddingpayments, lending, or insurance into their offerings, they create seamless customer experiences. Businesses gain access to financial tools without building infrastructure from scratch.
A fundamental question facing the payments industry now is the degree to which software is truly “eating the POS,” or whether the hardware/software bundle that is enabling checkout is just different. Different because of the new opportunities that embeddingpayments in software creates – and destroys.
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