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Faster Payments, Real-Time Payments And A Few Glitches

PYMNTS

The move toward faster payments is an inexorable one. As reported earlier this month, Hong Kong’s newly debuted Faster Payments System (FPS) has seen its share of controversy, at least at the outset. The alleged fraud involves personal data used to set up eWallet accounts and facilitate direct debit activity.

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Hong Kong’s New Faster Payment System Marred By Fraud Claims

PYMNTS

Hong Kong’s Faster Payments System (FSP) has only been live for a few weeks, but already it’s facing claims regarding allegations of fraudulent use. Financial institutions – including HSBC , Bank of China and Hang Seng Bank – are involved in the fraud claims, as are eWallet service providers AlipayHK, Tap & Go and O!

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To Compete Or To Collaborate: FinTechs And Banks

PYMNTS

Therefore, we shouldn’t replace the last-mile access that banks and eWallets provide, but rather partner with them. And when the banks and eWallets approached us two years ago and asked if we can provide them with a SWIFT alternative solution, we immediately said ‘yes’ and started working on a solution.”.

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Payment Rails Latest To Roll Out API-Enabled Global Business Payments Platform

PYMNTS

We also offer a disruptive way to send international payments, by bypassing costly bank wires [and] offering access to local banking and real-time payment networks, which can significantly reduce transactional costs by up to 80 percent.”. Artificial intelligence ensures regulatory compliance and fraud protection.

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MiFinity Brings Apple Pay to Simplify Payments and Enhance User Experience to Its Customers

Fintech Finance

The main highlights are the convenience and speed of transactions, as depositing funds into the MiFinity eWallet can be done in just a few taps. By leveraging Apple Pays robust authentication methods (including Face ID, fingerprint, and passcode), MiFinity ensures payment card details remain private, enhancing security and privacy for users.

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Stablecoins, smart contracts and the rise of more intelligent cash

Finextra

Those breakthroughs gave consumers faster payments and slicker front-ends; but let’s call that Act I. Act II is unfolding now: money itself is becoming programmable, composable and borderless. 16 hours See all opinions External This content is provided by an external author without editing by Finextra.

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Citi: Why And How To Bring More Collaboration To Payments

PYMNTS

There is at least one common goal that pretty much every player in financial services and payments can rally around: “The common thread is faster payments,” Kohli told Webster in the second part of a three-part Citi-PYMNTS podcast interview series. Consumers will have access to a variety of payment methods as a result.