Payments Dive

JUNE 3, 2024

Consumer payments are becoming more embedded, and commercial payments are slowly moving away from checks, says a top payments executive at Accenture.

Payments Trends 78

Payments Trends Consumer Payments Checks 78

Finovate

JULY 23, 2024

A partnership between Featurespace and OrboGraph will help banks and other financial services companies defend themselves against check fraud. Many consumers, especially younger consumers, have abandoned paper checks. Many consumers, especially younger consumers, have abandoned paper checks.

Checks 64

Checks Fraud Detection Financial Crimes Crime 64

Payments Source

JUNE 9, 2020

If a fraudster gets hold of a consumer's credentials, everything from mobile wallets, to a checking account, savings account or P2P account is in jeopardy of takeover. Identity fraud holds no prisoners when it comes to payments.

Account Takeovers 170

Account Takeovers Accounts Credential P2P 170

Stax

JULY 9, 2024

In 2019, 77% of US consumers were using at least one type of digital payment system. What has grown more significantly is the number of electronic payments and alternative payment methods consumers now use. The adoption of digital payment systems in the US has grown, with 78% of consumers using at least one type by the end of 2020.

Digital Payments 163

Digital Payments Online and Mobile Banking Contactless Payments Payments 163

Fintech Finance

MAY 24, 2024

The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers. Accordingly, Buy Now, Pay Later lenders must provide consumers some key legal protections and rights that apply to conventional credit cards.

Disputes 89

Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 89

Payments Dive

MARCH 21, 2024

Postal Inspection Service are working together to educate postal and banking employees as well as consumers on the rising form of fraud. American Bankers Association and the U.S.

Checks 78

Checks Consumer 78

Fintech Finance

SEPTEMBER 4, 2024

Visa today announced that it is applying the company’s infrastructure, technology and capabilities to account-to-account (A2A) payments, giving consumers more control and protection on how they pay via bank transfers. This affects consumers, businesses and the wider UK economy.

Consumer Protection 86

Consumer Protection Consumer Payments Disputes 86

VISTA InfoSec

MAY 24, 2024

This is where the Payment Card Industry Data Security Standard (PCI DSS) comes into play, serving as a crucial framework for safeguarding sensitive information and protecting both businesses and consumers from the ever-present threat of cybercrime. It is done to check if the card data is secure and there are no data leakages.

PCI DSS 240

PCI DSS Small Business Assessments Compliance 240

The Fintech Times

AUGUST 15, 2024

Adatree , an Australian open data solution provider, has unveiled a new ‘Insights’ product suite, including Account Verification and Balance Checks, in a move to empower companies in the fight against financial fraud and scams. Insights is compliant with stringent CDR regulations, safeguarding data security and privacy.

Verification 59

Verification Checks Accounts Scams 59

The Payments Association

OCTOBER 22, 2024

The FCA’s Consumer Duty and how payments firms must prioritise consumer outcomes in their operations. The FCA’s Consumer Duty represents a shift in how payments firms must operate, seeing consumer outcomes take centre stage in business practices. Consumer Duty implementation improves MI but adds to IT costs.

Consumer 88

Consumer Assessments Compliance Payments 88

Fintech Finance

OCTOBER 31, 2024

Today, the Payment Systems Regulator (PSR ), marks another significant milestone in its fight to tackle fraud, as hundreds of additional financial firms adopt the name-checking service, Confirmation of Payee (CoP). billion checks have been completed. Since its launch in 2020, more than 2.5

Payee 92

Payee Fraud Prevention Rules Checks 92

Payments Dive

OCTOBER 31, 2022

The company better known for paper checks is preparing for increased consumer use of digital assets, with plans to add options for accepting crypto next year.

Checks 113

Checks Consumer 113

Neopay

DECEMBER 16, 2024

The Financial Conduct Authority (FCA) continues its commitment to guiding firms on embedding the Consumer Duty by publishing two insightful reports. Consumer Duty Board Report This report evaluates firms governance structures and their alignment with the Consumer Dutys objectives. Key highlights from the FCAs reports 1.

Consumer 52

Consumer Compliance Audit Governance 52

Finovate

DECEMBER 21, 2023

The social saving and retail e-commerce platform enables consumers to buy important purchases responsibly, without having to rely on credit. Check out our extended Q&A with Om Kundu on making sense of spending, saving, and financial wellness. in terms of the number of VC/PE deals completed.

Consumer 84

Consumer Legal Laws Facilitators 84

VISTA InfoSec

JULY 17, 2024

Then, check everything again. The EU has GDPR , while the US sticks to HIPAA for health data and CCPA in California for consumer privacy. Outline regular audit processes to check compliance with these policies. Next, make checking for dangers a regular part of everyone’s job , not just the IT department’s work.

Cybersecurity 231

Cybersecurity Compliance Encryption Best Practices 231

Tearsheet

OCTOBER 2, 2024

Morgan have recently announced a partnership aimed at facilitating the transition from checks to digital payments for major banks in the United States. Despite the availability of digital alternatives, approximately one-third of B2B transactions continue to use cash and checks. Codat and J.P.

B2B 59

B2B Checks Payment APIs and Integration Push-to-Card 59

Fintech Review

DECEMBER 3, 2024

From cash and checks to digital wallets, these changes have revolutionised commerce and consumer behaviour. Traditional Payment Methods: Cash and Checks For centuries, cash reigned supreme as the primary payment method. Checks, introduced later, provided a secure way to transfer large sums without carrying cash.

Payment Solutions 86

Payment Solutions Payments Contactless Payments Online and Mobile Banking 86

The Fintech Times

DECEMBER 18, 2024

As digitalisation reshapes finance, the industry is transitioning beyond traditional open banking into a comprehensive open finance model, enhancing both access and transparency for consumers. CBI, led by managing director Liliana Fratini Passi, plays a pivotal role in this transformation.

Finance 115

Finance IBAN Fraud Prevention Interoperability 115

Fintech Finance

AUGUST 6, 2024

the first nationally-chartered consumer techbank in the U.S., Varo is the first bank to receive a de novo national bank charter as a consumer techbank in the U.S. Additionally, 20% of US consumers surveyed were intrigued by a better mobile app experience in searching for a bank. to become its issuer processor.

Issuers 117

Issuers Processors Embedded Finance Non-Bank 117

Fintech Finance

NOVEMBER 20, 2024

Afterpay , a leading Buy Now, Pay Later (BNPL), announced today its flexible payment functionality will be available for consumers checking out online through Google Pay at select merchants.

BNPL 92

BNPL Checks Consumer Finance 92

Fintech Finance

NOVEMBER 19, 2024

Together with Google, we’re making it easier than ever for millions of shoppers to choose Klarna, empowering consumers to shop confidently with a smarter, more transparent way to pay right at their fingertips.” Klarna on Google Pay will offer Google Pay’s consumers in the U.S.

BNPL 92

BNPL Global Payments Payment Solutions Finance 92

The Fintech Times

JUNE 27, 2024

With identity fraud losses reaching nearly $23billion in 2023, organisations need to improve identity checks. For the most effective results, this background check must be integrated seamlessly into the onboarding process to ensure consumers don’t have a bad experience and in turn loss their business.

Payment APIs and Integration 90

Payment APIs and Integration Fraud Prevention Financial Crimes Money Laundering 90

The Fintech Times

AUGUST 3, 2024

The Financial Conduct Authority (FCA) introduced Consumer Duty, aiming to improve consumer protection standards across the financial industry. In 2023, the FCA described Consumer Duty as a ‘cornerstone’ to of three-year plan to improve standards across the UK. Firms had to comply with these rules by 31 July 2023.

Consumer 59

Consumer Rules Duplicate Regulations 59

Stax

MARCH 14, 2024

During the 2020s, almost all businesses will have been looking at b2b payments processing solutions to meet changing consumer needs. consumers using two or more types of digital payment methods increased by 8%. In most cases, the way two businesses transact between themselves differs from how consumers transact with businesses.

B2B 88

B2B Process B2C Credit Cards 88

Finovate

DECEMBER 14, 2023

But given the ever-evolving regulatory landscape, volatile consumer preferences, and fast-changing enabling technologies, it can be hard to keep up on current trends. Check out the videos below to delve into topics such as embedded finance, BNPL, regtech, automation, decentralized finance, generative AI, the metaverse, and open banking.

Metaverse 119

Metaverse FinTech Embedded Finance Credit Union 119

VISTA InfoSec

FEBRUARY 28, 2024

We aim to provide a clear understanding of what these changes mean for your organization and how to implement them effectively. Note: These requirements do not apply to consumers (cardholders) Requirement v3.2.1 (8.5) Scope Applies to "non-consumer users and administrators" on all system components. Requirement v3.2.1 (8.2)

PCI DSS 130

PCI DSS Best Practices Authentication Rules 130

Payment Savvy

AUGUST 3, 2023

Every BIN number can be checked to prevent fraud and ensure the protection of both merchants and consumers when shopping. When you run any BIN number through a checking system, you end up with accurate information about the geolocation, card issuer, and card type. BIN checking tools are very straightforward to use.

Issuers 98

Issuers Card Issuer Processors Credit Cards 98

NFCW

DECEMBER 5, 2023

The Smart ID app is available to all UK consumers, whether they have a Lloyds account or not, and is interoperable with other UK digital identity apps including Yoti and Post Office EasyID , meaning that it can be used wherever these apps are already accepted.

Mobile Banking 85

Mobile Banking CHIPS Interoperability Checks 85

Fintech News

SEPTEMBER 29, 2024

These schemes are facilitated by the fact that many BNPL firms do not conduct formal credit checks, instead relying on internal algorithms to quickly assess new clients. million active BNPL users, according to the Consumer Credit Oversight Board (CCOB). In Indonesia, consumer debt related to BNPL schemes reached IDR 6.13

BNPL 117

BNPL Scams Identity Theft Non-Bank 117

Fintech Finance

DECEMBER 6, 2024

The Mastercard Payment Passkey Service streamlines e-commerce and revolutionizes the consumer journey. Mastercards research shows that 90% of consumers worldwide believe biometrics are more secure and convenient than passwords. Upon successful authentication, the transaction is completed.

Visa 94

Visa Authentication Scams Payments 94

Fintech News

JUNE 5, 2024

Currently, most BNPL products are not covered by the National Consumer Credit Act, leaving consumers without the same protections such as affordability checks that apply to credit cards and loans. BNPL providers will need to assess whether their products are suitable and affordable for consumers.

Regulations 90

Regulations BNPL Product Consumer Protection 90

Fintech Finance

SEPTEMBER 5, 2024

Now, with consumers looking for more ways to save money on every purchase, PayPal is expanding its reward program and its availability to deliver an omnichannel solution to give consumers a smart choice for every purchase, every time. PayPal has been the go-to solution for online purchases, with the majority of U.S.

PayPal 98

PayPal Debit Card Direct Deposit Checks 98

Fintech Finance

DECEMBER 6, 2023

Wert , the payment solution provider enabling fiat payments in Web3, today announced their partnership with Avata , an InsurTech service provider and expert in digital asset insurance solutions, to offer customers first-of-its-kind protection for consumers purchasing NFTs on platforms leveraging Wert’s checkout solution.

Service Provider 104

Service Provider NFTs Embedded Finance Blockchain 104

Fintech Finance

OCTOBER 24, 2024

As the government plans to regulate buy now pay later firms by 2026, more than one in ten millennials (13%) and Gen Z (11%) consumers plan to put Christmas on credit using buy now pay later apps*, RSM UK’s latest Consumer Outlook reveals. Alert customers to the risks and impacts of missing payments.

Regulations 89

Regulations Agreements Checks Consulting 89

Tearsheet

FEBRUARY 20, 2024

According to Marqeta’s 2023 State of Payments report , Gen Z consumers are more careful than older generations about how often they use credit cards. Making Brands Earn Loyalty Brand loyalty is seeing a tremendous shift with the emergence of Gen Z as a consumer powerhouse.

BNPL 121

BNPL Credit Cards On-Demand Consumer 121

Paystand

DECEMBER 12, 2023

By eliminating paper checks, the AR process becomes more effective, leading to faster payment cycles and efficient collections. Consumer payments have seen a digital revolution so drastic that people hardly set foot in a bank anymore. The shift towards digital payments has led to fast and efficient business growth opportunities.

B2B 98

B2B Digital Payments Payments Contactless Payments 98

Fintech Finance

NOVEMBER 5, 2024

John Lewis’ customers can now choose to check out with Klarna’s interest-free Pay in 3 product allowing shoppers to spread the cost of their purchases over 60 days. This year, high street icons such as Argos, Habitat, Boots and WHSmith joined Klarna as more and more consumers turn to interest-free BNPL.

BNPL 96

BNPL Payment Networks Finance AI 96