NFCW

JUNE 25, 2024

TRANSACTION FEE: A step-by-step overview of the digital euro compensation model Payment service providers will be able to charge merchants a fee for enabling them to accept digital euro transactions, the European Central Bank (ECB) has revealed, but a cap will be placed on the amount that it will be possible for them to charge.

Central Bank 103

Central Bank Online and Mobile Banking Legal Framework Caps 103

PYMNTS

NOVEMBER 23, 2016

The firm has introduced real-time payments capabilities for its Bank Centric Payments platform, built for financial institutions. ” In other words, it’s not just the fact that real-time payments capabilities are faster that makes them so attractive to corporate payers. FinTech company linked2pay isn’t worried, though.

Real Time Payments 73

Real Time Payments Payer Faster Payments Payments 73

PYMNTS

JUNE 3, 2020

Bank-FinTech collaboration continues to proliferate in markets around the world. and Europe embracing FinTechs in Open Banking efforts. Below, PYMNTS breaks down the latest in bank-FinTech partnerships. Below, PYMNTS breaks down the latest in bank-FinTech partnerships. ” LiquidX Links Banks To Trade Finance Tech.

FinTech 68

FinTech Remote Deposit Capture API Payer 68

PYMNTS

JANUARY 27, 2021

In this week’s look at the latest in Commercial Card Innovation, PYMNTS examines the tactics industry players use to overcome hurdles, including complex strong customer authentication (SCA) compliance requirements and the pain of supplier non-acceptance. Billtrust, REPAY Drive Virtual Card Adoption.

Commercial Card 94

Commercial Card Payroll Multifactor Authentication B2B 94

PYMNTS

MARCH 26, 2020

” The late payments discussion should expand beyond the focus of nefarious corporate payers and peer deeper into the consequences of non-automated and poorly-optimized collections practices, he said. “If you only had bad payers, you’d not be working with those customers at all,” he said.

B2B 72

B2B Accounts Payer Payment APIs and Integration 72

Fintech Finance

JANUARY 24, 2024

Tink , the market leader in open banking, has launched ‘Risk Signals’ – a rules-based risk engine that unlocks instant payment experiences across Europe, while minimising risk. In some European markets, bank transfers can take up to three days to settle depending on the scheme, with a chance that the funds never arrive.

Instant Payments 52

Instant Payments Risk Payer Payments 52

Neopay

NOVEMBER 27, 2023

The European Council and European Parliament have struck a provisional agreement on the mandatory provision of instant credit transfers in euros and access to central bank payment rails by non-bank e-money institutions and stablecoin issuers.

Instant Payments 52

Instant Payments Non-Bank Stablecoins IBAN 52

Fintech Finance

JULY 1, 2024

The European Central Bank (ECB) has published its first progress report on the digital euro preparation phase, which was launched on 1 November 2023 with the aim of laying the foundations for the potential issuance of a digital euro.

Legal Framework 98

Legal Framework Money Laundering Online and Mobile Banking Central Bank 98

The Fintech Times

FEBRUARY 28, 2024

The regulation takes into consideration particularities of non-euro area entities. Payment service providers such as banks, which provide standard credit transfers in euro, will be required to offer the service of sending and receiving instant payments in euro. This requirement will apply to regular transfers too.

Instant Payments 69

Instant Payments Regulations Non-Bank Payments 69

PYMNTS

OCTOBER 10, 2019

The September Faster Payments Tracker found that push payments are often viewed as more secure than pull payments, the latter of which give creditors access to sensitive bank account information. Payers provide PINs or signatures, which grant recipients permission to extract funds. Fresh PYMNTS research has dug into the issue.

Real Time Payments 80

Real Time Payments Push-to-Card Payments Debit Card 80

PYMNTS

APRIL 15, 2020

Gradually, however, and with a focus on expanding access to digital financial services, China has begun to open up its market to non-Chinese PSPs, with PayPal having recently become the first foreign PSP to launch in the country through its acquisition of China-based GoPay, completed late last year. ” The M&A Route.

Correspondent Bank 76

Correspondent Bank Correspondent Cross-Border B2B 76

Finovate

JANUARY 8, 2024

This protects both parties by ensuring that the payer isn’t receiving work and refusing to pay, and also ensuring that the payee isn’t taking the funds without completing their end of the contract. It also helps users without a bank account to withdraw funds onto a prepaid Mastercard or Visa card.

Wire Transfer 52

Wire Transfer Payee Payer Wire 52

PYMNTS

AUGUST 7, 2019

The European Central Bank (ECB) said in a report that fixing cryptocurrency asset data gaps still presents a sizable challenge for financial institutions as well as regulators, Cointelegraph reported. Tom Emmer (MN) reintroduced the Safe Harbor for Tax Payers with Forked Assets Act of 2019 in July.

Bitcoin 51

Bitcoin Transactions Digital Currency Central Bank 51

PYMNTS

MAY 1, 2020

Any business that trades internationally or manages a global workforce will be familiar with the pain points of traditional cross-border wires and bank transfers. “They accept cryptocurrency, facilitate the exchange, charge a professing fee then transfer funds into a bank account in one or two days. .

Digital Currency 68

Digital Currency Accounts Cross-Border Stablecoins 68

M2P Fintech

MARCH 28, 2024

Aadhaar-enabled Payment Service (AePS) AePS, in India, enables individuals to conduct basic banking transactions like d eposits, withdrawals, balance inquiries, bill payments, etc. without requiring a traditional bank account or debit card. Unlike physical cash or bank deposits, CBDCs are purely electronic.

FinTech 59

FinTech Online and Mobile Banking Push-to-Card Payer 59

PYMNTS

JULY 15, 2020

businesses has broadened growth opportunities and opened up new revenue streams, the banking and financial services space hasn’t quite caught up to the modern needs of U.S. An alternative to this payment strategy is to open up a bank account in each market in which a business operates. New Goals, Old Tech.

Cross-Border 67

Cross-Border Cross-Border Payments Multi-Currency Correspondent Bank 67

PYMNTS

MARCH 7, 2019

“As a non-bank alternative finance company, we have the means to expand their solutions, and offer enhanced certainty and flexibility.” . “We expect [Global Technology Finance’s] platform to complement our strategy of delivering innovative financing solutions to the technology space,” he said.

Finance 51

Finance Payer Small Business Non-Bank 51

The Fintech Times

FEBRUARY 12, 2024

Members of the European Parliament (MEPs) have officially adopted new rules to ensure transferred funds arrive immediately into the bank accounts of retail customers and businesses across the EU. Banks and other payment service providers (PSPs) will now need to ensure credit transfers are affordable and immediately processed.

Laws 59

Laws Rules Fraud Detection Money Laundering 59

PYMNTS

SEPTEMBER 4, 2017

Meanwhile, 55 percent of payers over the age of 65 have made a contactless payment, an increase from the 52 percent of this age group that said the same last year. Unsurprisingly, millennial consumers are driving this trend. Visa found that three-quarters of shoppers age 18 to 35 have made a contactless payment, 11 percent more than in 2016.

Contactless Payments 54

Contactless Payments Online and Mobile Banking Payments Payer 54

PYMNTS

DECEMBER 5, 2019

That expense management pain then extends beyond the employee payer, too, he noted, particularly when it comes to workers’ maverick spend and managers’ inability to ensure purchases are made with verified suppliers for valid, approved purchases. Where Banks Fit In Problem-Solving.

Business Payments 52

Business Payments Payer Payments B2B 52

FICO

JUNE 4, 2018

In 2017, the UK market experienced a reported 34,743 unauthorized fraud case attempts from remote banking channels (internet, mobile and phone banking), valued at a total of £417.5 I previously blogged about FICO’s Retail Banking models and how they can be used to tackle phishing fraud.

Demand Deposit Account (DDA) 40

Demand Deposit Account (DDA) Smishing Payer IRS 40

The Payments Association

MAY 16, 2025

Non-compliance could lead to regulatory enforcement by national authorities, as well as reputational harm and potential exclusion from EU markets. PSPs and acquirers will now transmit richer remittance information, structured payer/payee details, and standardised reference fields.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

PYMNTS

NOVEMBER 5, 2018

Other recommendations advocate setting up a “financial penalty regime” that would be under the purview of the small business commissioner, which would levy penalties on late payers. In terms of redress as it stands now, subcontractors can take alleged late payers to court for arbitration. Music Festival Payments Back In Rhythm.

Accounts 51

Accounts Payer Payments Small Business 51

PYMNTS

FEBRUARY 6, 2020

APIs are changing how banks serve their corporate customers, helping them become more competitive. Europe’s open banking regulations have forced financial institutions (FIs) to use APIs to open their data to FinTechs, which has resulted in many new services for businesses. The technology grants ample benefits to all parties involved.

Faster Payments 64

Faster Payments API Payment APIs and Integration B2B 64

PYMNTS

MAY 14, 2020

Although banks in Singapore and other markets around the world began discussions of becoming “branchless” well before the pandemic, as Nanu explained, the collaborative as-a-Service approach can accelerate a transformation that is no longer simply strategic, but an absolute necessity for many service providers.

Payment APIs and Integration 69

Payment APIs and Integration Adjustments Facilitators Service Provider 69

PYMNTS

FEBRUARY 18, 2020

“Unlike traditional B2B areas, where the supplier and customer have agreed upon pricing, and it is the exception when the payment amount does not equal the billed amount, “ he told PYMNTS, “it is standard practice in healthcare for a provider to bill one amount only to have the payer decide to pay a completely different amount.”.

B2B 52

B2B Faster Payments Payments ACH 52

PYMNTS

OCTOBER 29, 2020

In another example, pointing to healthcare as a vertical that is sorely in need of digitization, McCarthy said Deluxe has partnered with ECHO Health to launch the Medical Payment Exchange Platform, which established a cloud-based payment process to help payers migrate away from paper checks. You completely remove that paper.

Checks 78

Checks B2B Payments C2B 78

FICO

JUNE 26, 2018

Individual banks can set their own limits below this, but even those with lower limits allow people to send (and potentially lose) life-changing amounts. For example, in the UK victims have looked to the receiving bank for restitution. In Europe SEPA CT Inst currently stands at a more modest €15K but is expected to increase.

Real Time Payments 63

Real Time Payments Instant Payments Irrevocable Payment Payments 63

PYMNTS

SEPTEMBER 12, 2017

The company uses an API that captures transaction data from a corporate buyer, and its network of banks, to provide suppliers with payments on their invoices 24 hours after their orders ship. Designing a solution specific to B2B payments means taking into accounts receivable risks like non-payment. It depends on the market,” he said.

Payment APIs and Integration 46

Payment APIs and Integration B2B Due Diligence Payments 46

FICO

SEPTEMBER 20, 2017

Here are some options for issuers, based on our experience helping banks contact customers using FICO Customer Communication Services : 1. As with SMS above, you could have education messages for persistent minimum payers saying how long it would take to pay off balances, similar to statement messages. Options for Contacting Customers.

Rules 60

Rules Issuers Push-to-Card Credit Cards 60

PYMNTS

APRIL 1, 2020

billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. Merchants pay payment processing fees and banks pay for permission to issue cards stamped with providers’ brands, but the network over which payments are ultimately sent lies with individual merchants. shoppers made 72.7

Debit Card 56

Debit Card Electronic Funds Transfer (EFT) Debit Transaction Federal Reserve 56

PYMNTS

DECEMBER 27, 2016

All these transactions involve large, cross-border payments, which are typically complex, non-transparent and fraught with challenges for both the payer and payee. Both payers and payees are looking for protection against fraud and assurances of compliance with any international regulations. Security is also important.

Cross-Border Payments 45

Cross-Border Payments Cross-Border Payee Payer 45

PYMNTS

DECEMBER 18, 2019

“It’s insurance companies, it’s non-traditional consumer-to-business types of companies that are now looking to make payments,” he explained. “It’s those that potentially sit on the periphery of normal banking channels, especially those in the gig economy, contractors, folks getting claims, rebates.”

B2C 52

B2C PayPal Cross-Border Cross-Border Payments 52

PYMNTS

OCTOBER 10, 2018

When it comes to business-to-business (B2B) transactions, paper checks are often the villain, cards an expensive but quick underdog, and ACH and its non-U.S. According to Mugford, fraud and regulatory compliance are a headache for banks and corporates regardless of payment rails used, but remain of paramount importance.

Wire Transfer 46

Wire Transfer Wires Wire Cross-Border 46

FICO

JANUARY 6, 2021

Collections, risk and operations executives will need to have the data that helps them: Understand the differences between COVID-19 related debt and non-COVID related debt. What has been the true level of impact on disposable income – can open banking support and validate the impact? there will be large books that need to be worked.

Posting 98

Posting Credit Risk Risk Returns 98

FICO

DECEMBER 18, 2018

As regulators look to force remedial action that evidences more customer tolerance, the cost of that tolerance will be passed on to non-vulnerable customers. People who are unbanked will no longer need a bank to be banked. This is already true in some emerging economies, but it’s expanding to other regions as well.

Non-Bank 45

Non-Bank Regulations AI Origination 45

EBizCharge

APRIL 25, 2024

Wire transfers and electronic funds transfers have been staples of financial transactions for decades, but various electronic transfer methods have emerged with the innovation in banking technology. What is an electronic funds transfer (EFT)? ACH transfers are common for low- or mid-value payments that don’t require immediate settlement.

Wire Transfer 52

Wire Transfer Wires Wire Electronic Funds Transfer (EFT) 52