The Payments Association

FEBRUARY 26, 2025

For instance, decreasing authorized push payment (APP) fraud is still a key priority for the UKs Payment Systems Regulator (PSR) in 2025. Faster payments and faster fraud As new payment use cases and systems emerge, they naturally introduce new fraud risks.

Authentication 88

Authentication Risk Fraud Prevention Compliance 88

Fintech Finance

FEBRUARY 29, 2024

Nium , the leader in real-time cross-border payments, announced today that it is the first non-Japanese company to have secured a Type 1 Funds Transfer Service Provider (FTSP) license from the Japanese Financial Services Agency (JFSA).

Funds Transfer 52

Funds Transfer Cross-Border Cross-Border Payments Security 52

The Fintech Times

JANUARY 17, 2025

.” As small and medium-sized businesses increasingly turn to non-banking cost-efficient payment solutions, Guavapay aims to provide solutions that meet the evolving needs of global businesses with real-time, affordable fund transfer, multi-currency accounts and advanced payment APIs.

Innovation 59

Innovation Technology Payment APIs and Integration Multi-Currency 59

Fintech News

MAY 21, 2024

A few hours later, the victim received a notification from DBS that her overseas fund transfer limit had been increased, and over S$170,000 had been transferred to an account in the United Arab Emirates. Members of the public are then urged to inform authorities, family, and friends about potential scams.

Scams 106

Scams Funds Transfer Credential Compromise 106

Clearly Payments

JANUARY 23, 2024

Whether you’re dealing with routine bills, processing paychecks, or handling high-stakes international transfers, understanding the nuances of electronic fund transfers (EFTs) is crucial. When it comes to electronic payments, two major players stand out in the United States: ACH transfers and wire transfers.

Wire Transfer 104

Wire Transfer Wire Wires ACH 104

FICO

NOVEMBER 7, 2022

Fighting Scams and Authorized Push Payment Fraud in the US. US regulators seem poised to update the status quo for bank liability for authorized user/authorized push payment fraud, but just how big is the potential? In multiple geographies around the world, there has been a strong focus on authorized push payment fraud.

Scams 52

Scams Authorization P2P Zelle 52

Stax

MARCH 18, 2025

Payment processing systems help merchants accept various types of payments, such as credit and debit cards, automated clearing house (ACH) , electronic funds transfers (EFTs), digital wallets, mobile payments, and even cryptocurrencies. It authorizes or declines payments based on available funds and fraud checks.

Process 88

Process Payment APIs and Integration Processors Online and Mobile Banking 88

The Fintech Times

NOVEMBER 6, 2024

It aims to enable more efficient funds transfer via Purpose Bound Money (PBM) when inbound tourists use Alipay+ payment partner apps for payments at GrabPay merchants in Singapore. Singapore FinTech Festival returned for its ninth annual edition, bringing together policy, finance and technology communities at the Singapore EXPO.

Product 101

Product Cross-Border FinTech Cross-Border Payments 101

The Paypers

NOVEMBER 27, 2020

The South African Reserve Bank (SARB) has issued a warning to consumers to be aware of the risks associated with the use of instant electronic funds transfer (EFT) payment services offered at ecommerce stores.

Electronic Funds Transfer (EFT) 50

Electronic Funds Transfer (EFT) Risk Authorization Funds Transfer 50

Stax

NOVEMBER 13, 2024

A customer authorizes these electronic payments by indicating it’s their preferred payment method for recurring bill payments or other essential funds transfers such as an annual tax payment. Of the two types of ACH transfers, an ACH debit tends to be favored by firms expecting regular ongoing payments.

ACH 88

ACH ACH Network Payer Payee 88

Global Fintech & Digital Assets

DECEMBER 18, 2023

General use would therefore encompass most forms of person-to-person (P2P) and consumer-merchant fund transfers by or on behalf of a consumer to another US-based person for personal, family, or household purposes. Under the Dodd-Frank Act, large non-bank digital consumer payment companies are subject to CFPB enforcement authority.

CFPB 75

CFPB Regulations Consumer Financial Protection Bureau (CFPB) Non-Bank 75

PYMNTS

JUNE 23, 2020

Business clients of HSBC Hong Kong can integrate instant electronic Direct Debit Authorization (eDDA) within their own systems to support real-time funds transfer, the bank said, without requiring those businesses to separately log in to their banking portals and set up direct debit instructions.

Federal Reserve 106

Federal Reserve RTP Payment APIs and Integration Fed 106

PYMNTS

JUNE 19, 2020

The platform will enable businesses to access better payment efficiency, including more flexibility for fund transfers and faster payments between suppliers. In the future, HKMA, the Bank of Thailand and other entities will work on more uses for CBDC in cross-border transfers, the press release states.

CBDC 98

CBDC Cross-Border Digital Payments Digital Currency 98

Payment Savvy

NOVEMBER 9, 2022

An Electronic Funds Transfer (EFT) is the movement of money electronically from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems. These can include using a credit or debit card, an electronic check, or an ACH (Automated Clearing House) transfer.

Online and Mobile Banking 98

Online and Mobile Banking Wire Transfer Direct Deposit ACH 98

EBizCharge

NOVEMBER 12, 2024

A merchant account is a business bank account that allows companies to accept payments, such as debit and credit card transactions, electronic funds transfers (EFTs), and Automated Clearing House (ACH) payments. Merchants should also have a good grasp of how payments are authorized within these accounts.

Accounts 52

Accounts Online and Mobile Banking MSPS Debit Card 52

The Fintech Times

FEBRUARY 26, 2024

“CBDCs can contribute to quicker and more secure cross-border settlements, reducing the time traditionally associated with international fund transfers. While the UK authorities have announced a new round of CDBC study, the Treasury Committee of the UK’s Parliament has expressed concerns.

Cross-Border Payments 145

Cross-Border Payments Cross-Border Digital Currency Central Bank 145

The Paypers

SEPTEMBER 14, 2021

The Monetary Authority of Singapore (MAS) and the Reserve Bank of India have announced plans to link Singapore's PayNow system with India's UPI real-time payment system.

Funds Transfer 41

Funds Transfer Real Time Payments Authorization Payments 41

The Fintech Times

NOVEMBER 7, 2024

Financial inclusion, digital and fintech While the World Bank says that at least 80 per cent of adults in the Maldives have a bank account with a traditional financial institution, the nation’s central bank, the Maldives Monetary Authority (MMA), says that cash remains the most popular payment method.

FinTech 59

FinTech PayPal Financial Inclusion Financial Literacy 59

Fintech Finance

JUNE 25, 2024

The Retail Services Category II License enables Nuvei to offer its comprehensive suite of payments technology to businesses operating in the thriving UAE market, including direct local acquiring, payment aggregation services, and domestic and cross-border fund transfers.

Central Bank 90

Central Bank Security Cross-Border Acquirers 90

Fintech News

MARCH 25, 2024

US banking institutions are the most targeted A sectoral analysis revealed that the traditional banking apps remained the prime target last year, representing 61% of all the targets of mobile banking malware, or a total of 1,103 apps.

Mobile Banking 118

Mobile Banking Online and Mobile Banking Identity Theft Credential 118

PYMNTS

JUNE 25, 2020

Long reportedly operated a third-party payment processing company, V Internet Corp, which worked to create and deposit remotely-created checks (RCCs), which Long maneuvered to have his name on, saying the checks were authorized by the account holder rather than the payee.

Identity Theft 66

Identity Theft Checks Payee Phishing 66

PYMNTS

JUNE 29, 2020

In a posting on its website, the suburban Munich company said Wirecard Bank is not part of the insolvency proceedings and electronic fund transfers are not affected. Wirecard AG , the disgraced German payments provider that filed for insolvency last week over a $2.1

Continuity 81

Continuity Funds Transfer Credit Cards Visa 81

Stax

JULY 9, 2024

The world of Electronic Funds Transfer (EFT) payments is vast, spanning just about every payment method you can think of. TL;DR An Electronic Funds Transfer is an umbrella term for payments that are conducted electronically—essentially, any payment method except for cash and paper checks. Q: Are EFT payments safe?

Electronic Fund Transfer Act (EFTA) 88

Electronic Fund Transfer Act (EFTA) ACH Electronic Funds Transfer (EFT) Funds Transfer 88

PYMNTS

MAY 22, 2020

After a payday lender allegedly left consumers to pay more than promised by drawing continued interest-only deductions, the Federal Trade Commission (FTC) has charged a lending operation with overcharging customers and taking money from their bank accounts without authorization. The defendants named in the matter include Camel Coins, Inc.;

FTC 79

FTC Federal Trade Commission Consumer Protection Funds Transfer 79

PYMNTS

APRIL 30, 2020

The combination will achieve that goal through a Contextual Funds Transfer (CFT) payment rail, connected to the businesses’ enterprise resource planning (ERP) and supply chains, which would ultimately create interoperability for business payments and more visibility.

B2B 67

B2B ISO 20022 Interoperability Funds Transfer 67

PYMNTS

SEPTEMBER 27, 2018

In March, the Hong Kong Monetary Authority (HKMA) announced plans to introduce a faster payments system that will link into 20 banks and eight electronic payment operators, with payers able to use mobile phone numbers or email addresses to make payments in the Hong Kong dollar or renminbi. .

Faster Payments 65

Faster Payments Funds Transfer Payments Payer 65

Nanonets

NOVEMBER 14, 2023

Leveraging social engineering, email spoofing, and identity fraud, these malevolent actors manipulate individuals into making unauthorized fund transfers or divulging confidential Personally Identifiable Information (PII). They send emails to employees, often in finance or accounting, instructing urgent and confidential fund transfers.

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52

PYMNTS

OCTOBER 26, 2018

25) said the Hong Kong Monetary Authority (HKMA) has received three complaints that the FSP has been used to make fraudulent transactions ranging from $1,280 to $12,750. AlipayHK told reporters that it has suspended the electronic direct debit authorization feature of its eWallet under guidance of the HKMA.

Faster Payments 51

Faster Payments eWallet Law Enforcement Real Time Payments 51

Payment Savvy

NOVEMBER 8, 2022

Unlike an ACH transfer, there is no fixed definition of an EFT transfer – at least not in the singular sense. EFTs constitute a whole range of digital transfer and payment methods. EFT stands for Electronic Fund Transfer, while ACH stands for Automated Clearing House. How Do EFTs Work?

ACH 98

ACH Payments Debit Card Online and Mobile Banking 98

EBizCharge

MARCH 18, 2025

This ensures faster fund transfers and reduces the time spent waiting for payments, improving liquidity and financial stability. With Sage 100, businesses can accept credit card payments instantly, either at the time of sale, upon invoicing, or through customer self-service portals.

Credit Cards 52

Credit Cards Process Security Data Breach 52

PYMNTS

JANUARY 3, 2019

3) that it had reached a settlement with USAA Federal Savings Bank over allegations that the bank violated the Electronic Fund Transfer Act, among other transgressions. The Consumer Financial Protection Bureau (CFPB) announced on Thursday (Jan. million in civil money penalty.

CFPB 51

CFPB Consumer Financial Protection Bureau (CFPB) Error Resolution Funds Transfer 51

PYMNTS

JUNE 29, 2020

s Financial Conduct Authority (FCA) mandated that Wirecard ’s British Wirecard Card Solutions unit stop conducting regulated work, a number of consumers in the U.K. Wirecard AG informed customers that Wirecard Bank is not part of the insolvency proceedings and electronic fund transfers aren’t impacted. After the U.K.’s

Funds Transfer 60

Funds Transfer Advisors Authorization Accounts 60

EBizCharge

MAY 15, 2024

Payment methods commonly used in B2B transactions include bank transfers, checks, electronic funds transfers (EFT) , credit cards, and increasingly digital payment platforms. Payment Authorization: Before the funds are transferred, the payment may undergo authorization processes to ensure security and legitimacy.

B2B 52

B2B Wire Transfer Payments Payment Gateways 52

PYMNTS

SEPTEMBER 19, 2018

This latest digital offering is set to revolutionize the payment ecosystem in Hong Kong, bringing unprecedented convenience and security to our daily fund transfers among friends and family, as well as the day-to-day operations of businesses.”. Transfer amounts can be as high as HK$1 million, reports said.

Real Time Payments 60

Real Time Payments Faster Payments P2P Payments 60

Clearly Payments

JUNE 7, 2024

It acts as an intermediary between the business software and the financial institutions involved in the transaction, enabling the authorization and processing of payments. The API authenticates the request, forwards transaction details for authorization by the respective banks, and processes the transfer of funds upon approval.

Payment Gateways 59

Payment Gateways Gateways API Payment APIs and Integration 59

The Fintech Times

JANUARY 11, 2024

The proposed market would cover providers of funds transfer and wallet functionalities through digital applications for consumers’ general use in making payments to other persons for personal, family, or household purposes.

Regulations 64

Regulations CFPB Request for Comment Funds Transfer 64

PYMNTS

SEPTEMBER 26, 2016

” The bill was unanimously approved in August by the Assembly after being amended three times and is expected to regulate the transition of California courts to e-filing.

Credit Cards 59

Credit Cards Caps Debit Card Funds Transfer 59