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Now, thanks to open banking and the EUs Instant Payments Regulation (IPR), regulated businesses are rethinking whats possible: real-time transactions, richer customer insight, and smoother experiences, all while staying compliant. Its the gateway to onboarding, compliance, trust, and ultimately, conversion. Its a strategic shift.
In recent years, market adoption of credit card surcharging—a practice by which merchants pass on the transaction fee for accepting a credit card to the cardholder—has increased dramatically. In 2024 alone, more than a dozen state legislatures introduced bills related to surcharging and consumer fees generally.
From shifts in unauthorised card fraud to the evolving nature of authorised push payment scams, there’s a lot to unpack—and a lot at stake. This has led to a noticeable uptick in card-related fraud, especially in remote purchases, where criminals use stolen card details for online transactions. What’s next?
The PSR Annual Report shows that the UK has made progress in regulating payments over the past year. The Payment Systems Regulator (PSR) says that it has made progress in fighting APP fraud, making faster payments more available, and making card fees more clear.
This meant that the stable environment was shaken up by newcomers who introduced new features, such as allowing consumers to manage their card parameters through an app. Card payments, or payments in general, were often not a profit centre for the banks. This marked a new era for these processes.
However, with its growing role comes increasing complexity, particularly in terms of integration, regulation, and the architecture of future payment flows. Unlike static gateway or acquirer tokens, network tokens adapt in real time to changes such as card reissuance or expiry, ensuring continuity in payment flows.
According to Yaccarino, the partnership will allow for secure and instant funding to users X Wallet via Visa Direct, connecting to their debit cards and allowing for peer-to-peer payments. By replacing the need for physical cash or cards, they allow seamless payments via smartphones, tablets, or other connected devices.
EMIs must strengthen their risk frameworks, advocate for more nuanced regulation, and prepare for heightened scrutiny to avoid blanket penalties and operational disruption. Evolving money laundering risks for EMIs: Insights from the upcoming NRA 18 July 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about?
Deep Dive Opinion Library Events Press Releases Topics Sign up Search Sign up Search Retail Banking Restaurants Regulations & Policy Risk Technology B2B An article from Dive Brief Visa, FIS boost value-added card services The companies say they aim to strengthen tech tools available for smaller financial institutions in issuing cards.
Reserve Bank of India (RBI) Establishment (1935): The RBI was established to regulate currency, provide banking services to the government, and act as a banker to banks. Indigenous Banking (Shroffs and Mahajans): Long before modern banks, India had a thriving indigenous banking system. This expanded the reach of formal banking to rural areas.
Improving regulations, using technology for detection, and fostering industry-wide cooperation. Mark McMurtrie (TPA) opened the session by presenting data showing how fraud tactics have shifted from physical card theft to more sophisticated digital scams.
In this guide, you’ll understand what digital payment security is and what these regulations mean, how they impact your payment operations, and what you need to do to meet them. It also shows regulators that you’re serious about safety. It keeps your customers’ card details safe and your systems strong. Yes, trust is everything.
senators are proposing legislation that would create a task force to study payment scams and suggest ways for lawmakers and regulators to combat them , along with formulating industry best practices. By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime.
For instance, decreasing authorized push payment (APP) fraud is still a key priority for the UKs Payment Systems Regulator (PSR) in 2025. Regulations like PSD2 go a long way in providing secure guardrails for payments. Its a great time to be a fraudster. Considering that APP fraud cost the UK economy approximately 459.7
Gap is one of dozens of merchants suing Visa and Mastercard over the cost of interchange fees on Visa and Mastercard-branded cards. In subsequent court filings, lawyers for the merchants asserted that Visa and Mastercard had seized on the judge’s question as the basis of their effort to push the trial into 2026.
For many small business owners, credit card processing fees may seem like a hefty price to pay for providing convenience to customers. Even if you consider them to be a cost of doing business, credit card fees can quickly eat away at your already slim profit margins. Following are the key entities involved in credit card processing.
The city is home to four fintech unicorns in Asia: HashKey Group, WeLab, Micro Connect, and ZA Group, each pushing the boundaries of digital finance in unique ways. The fintech unicorns in Asia are moving to reshape the very fabric of how people and businesses interact with money. billion insurtech Matrixport 1.05 billion payments Coda 2.5
Deep Dive Opinion Library Events Press Releases Topics Sign up Search Sign up Search Retail Banking Restaurants Regulations & Policy Risk Technology B2B An article from Adyen opts for build over buy The Dutch payments processor eschews acquisitions in favor of building its own systems to drive global growth, including in the U.S.
For example, Bank of America (US) announced its clients reached 26 billion digital interactions in 2024 (a 12% year-over-year increase), including 676 million interactions with its AI virtual assistant “Erica.” In the UK, NatWest’s AI assistant, “Cora,” handled 11.2 At the same time, a J.D. Almost every bank is at least planning for GenAI.
Since it went live in the UK in 2023, data from the countrys Payment Systems Regulator (PSR) shows that the value of authorised push payment (APP) scams has reduced by over 12 per cent. ” Feedzais platform analyses digital transactions, from card purchases to real-time transfers, for multiple risk signals in real-time.
John Hamilton Co-founder, ChargebackStop "As deepfakes, evolving regulations, and cloud-native security converge, digital businesses must rethink risk with zero-trust frameworks, real-time threat intelligence, and strong AI governance. These ensure data is accurate, accessible and actionable, enabling real-time insights.
The real power of banks lies in how they shape credit, control infrastructure, influence regulation, and determine who gets access to financial tools and capital. They also maintain relationships with governments, corporations, and regulators that fintech firms cannot easily replicate. But the nature of that power is shifting.
Payment technology and innovation are accelerating across the fintech industry, with more companies recognising the importance of adapting to changing customer needs, with non-cash transactions projected to hit 2.3 trillion transactions by 2027. billion users by 2025, nearly 60% of the global population.
From Niche to Necessity While tokenisation is already well established in card payment systems, its adoption for bank account data is only just beginning. Why Traditional Defences Fall Short Historically, businesses have relied on layered security controls like encryption, firewalls, and access policies to protect payment information.
While it didn’t lead to the elimination of cash, it’s nonetheless more common to see consumers pull out a card than cash in many parts of the country If you run a business, it’s almost inevitable that much of your sales are made using a method other than cash. The answer is “it depends.” Is it legal to refuse to accept cash?
That means no extra cards and no extra friction for your customers. That also means your customers don’t need to swipe any extra card, enter a number, or remember to open a separate app. Traditional loyalty programs are often built as afterthoughts. A separate sign-up. A separate app. A separate step. They don’t just process a sale.
This article explores five key trends changing how we pay today while pushing the narrative for a more efficient, powerful financial ecosystem in Asia. In 2023, credit card payments comprised 52.2% In Southeast Asia, digital payment transactions are projected to exceed US$1 trillion by 2025. of all cashless transactions in Japan.
Deep Dive Opinion Library Events Press Releases Topics Sign up Search Sign up Search Retail Banking Restaurants Regulations & Policy Risk Technology B2B An article from Dive Brief Tensec raises $12M to boost growth Meanwhile, other cross-border payment firms have raised millions in recent weeks to bolster their international expansion.
Banking institutions across Asia Pacific are under increasing pressure to modernise. Whether in current or emerging markets, banks are riding the tide of a rapidly shifting landscape defined by digital technologies, adapting to regulatory requirements, rising customer expectations, and stiff competition from nimble fintech startups.
Deep Dive Opinion Library Events Press Releases Topics Sign up Search Sign up Search Retail Banking Restaurants Regulations & Policy Risk Technology B2B An article from Processors lean on AI to fight fraud Payments players are urging Washington policymakers to leave artificial intelligence less regulated so they can use it to fight fraud.
Talk to sales Understanding EFT: The Umbrella Term for Digital Transactions Ever paid for your coffee with just a tap of a card or received payment from a customer thousands of miles away? Digital wallets accounted for 50% of eCommerce purchases , while debit cards raked up 12% of total transactions last year. In 2024, it processed 1.2
Camerling added: “The growing importance of in-person payment orchestration, often referred to as card-present payment orchestration, has been a highlight. As 2024 draws to a close, it’s been an eventful year for the payments industry, marked by rapid innovation, unexpected challenges, and evolving consumer expectations.
As a proliferation of payment options promises to streamline banking and commerce, regulators, fintechs, and financial services companies are looking for ways to make sure that the challenges to these new payment optionsfrom technical complexity to new forms of fraud and financial crimeare met. And thats a really positive development.
In January 2023, HM Treasury issued the Payment Services Regulations: Review and Call for Evidence. The HM Treasury PSRs Review also stated that there would be an independent review of the Payment and Electronic Money Institution Insolvency Regulations (PESAR) within two years of these coming into force. What’s next?
The UK governments decision to scrap the Payment Systems Regulator (PSR) and merge its functions into the Financial Conduct Authority (FCA) has divided opinion across the financial sector. Todays world demands resourceful, agile, responsive regulators that are in tune with the market.
The early impact of the UK’s mandatory reimbursement policy for authorised push payment (APP) scam victims, implemented in October 2024. Authorised push payment (APP) scams remain one of the most devastating forms of financial fraud affecting UK consumers. Why is it important? What’s next?
Deep Dive Opinion Library Events Press Releases Topics Sign up Search Sign up Search Retail Banking Restaurants Regulations & Policy Risk Technology B2B An article from Drivers seek digital payment options Digital payments are on the rise, but toll road payments are lagging behind. You can unsubscribe at anytime.
Thats where avoided.io comes in, offering state-of-the-art Intelligent Chargeback Management Software that empowers businesses to tackle chargebacks before they become a financial burden. As a proud scale-up member of The Payments Association, avoided.io Lets dive into the key features and services avoided.io has to offer. Avoided.io
Her arrival signals a new phase of growth for the alternative banking provider, which focuses on high-risk and regulated sectors. Appointments Community finance provider Salad has appointed Craig Pennington , formerly of Fair4All Finance, where he led investment partnerships to support inclusive lending. Raul Villar Jr.,
It highlights the urgent need for payments firms to address AI-driven fraud to protect financial security, maintain customer trust, and comply with regulations. This is evidenced by the fact that payment card fraud alone is projected to increase by over $10 billion between 2022 and 2028, according to the data. Why is it important?
It classifies payment stablecoin issuers as regulated financial institutions, pulling them firmly under anti-money laundering and consumer protection rules. It classifies payment stablecoin issuers as regulated financial institutions, pulling them firmly under anti-money laundering and consumer protection rules.
Regulators and industry groups are already plotting this next phase. Location Joburg Followers 5 Opinions 22 Follow Unfollow Open Banking has moved from regulatory idea to industry reality, driving transformation by enabling secure, permissioned data sharing between financial institutions and third-party fintechs. Open Finance says: why not?
The region’s fintech ecosystem is growing at lightning speed, but that growth has outpaced regulation and security in many places. What makes Grey Nickel especially dangerous isn’t just their technology but also it’s their precision. As APAC’s digital economy accelerates, these kinds of attacks are becoming alarmingly common.
Instant Digital Card Creation Need a card for online purchases? Mobile banking apps generate digital cards instantly, ready for use with digital wallets like Apple Pay or Google Wallet. By using a phone number, apps eliminate the need for manual entry of card details, reducing errors and speeding up transactions.
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