Stax

MARCH 15, 2024

Making sure there are secure payment technology policies and procedures within your company will guarantee the integrity of present and future transactions. Security threats can come from anywhere, and that is why you must institute checks and specific credit card processing policies that secure sensitive client details.

Process 88

Process Security PCI DSS Encryption 88

Payment Savvy

JULY 3, 2024

As the preferred method for many, debit card transactions offer convenience, security, and immediate fund transfers, making them integral to modern commerce. Businesses that learn the ins and outs of debit card processing can better accommodate their customers’ preferences and rationalize their financial procedures.

Debit Card 52

Debit Card Process PCI DSS Processors 52

Fintech Finance

OCTOBER 21, 2024

Rising Demand for Correspondent Services Wise Platform’s Correspondent Services, launched at Sibos last year in collaboration with Swift , allows partners to send and receive international payments instantly.

Cross-Border 72

Cross-Border Global Payments Cross-Border Payments Multi-Currency 72

Fintech News

JULY 14, 2024

Traditional cross-border payments encounter various challenges, including delays, high costs, lack of transparency, multiple intermediaries, variable processing speeds, and differing compliance standards across correspondent banks. We see a very bright future for blockchain-based frictionless, cross-border transactions.

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Cross-Border Correspondent Bank Multi-Currency Settlement 106

Nanonets

JUNE 21, 2023

In the world of finance and accounting, the process of reconciliation plays a vital role in ensuring accurate and transparent financial records. It is a crucial process for businesses to identify discrepancies, resolve errors, and maintain the integrity of their financial statements. What are the steps in the Process of Reconciliation?

Reconciliation 52

Reconciliation Process Adjustments Automation 52

PYMNTS

APRIL 11, 2018

New data shows that the ACH Network processed 21.5 billion transactions valued at more than $46.8 It is the third year in a row in which the number of new ACH transactions increased by more than one billion. That propelled the value of the network’s transactions to more than double the U.S. percent and 6.9

ACH Network 44

ACH Network ACH Same Day ACH Transactions 44

Nanonets

APRIL 1, 2024

Whether it's ensuring that expenses align with available funds or guaranteeing that business transactions accurately reflect the company's financial standing, tracking checks outstanding and reconciling bank statements is non-negotiable. Neglecting them can result in fees, credit damage, and legal consequences.

Reconciliation 52

Reconciliation Checks Automation Process 52

Nanonets

JANUARY 8, 2024

Bank Reconciliation is the process of matching the company's cash books to the bank statement. The aim is to ensure all transactions are accurately recorded in the company's cashbooks and to find any errors or fraud. If they are not equal, there is an error in the reconciliation process. How to do Bank Reconciliation?

Reconciliation 52

Reconciliation Process Adjustments Checks 52

Currencycloud

MAY 22, 2024

Swift (Society for Worldwide Interbank Financial Telecommunications) is the global messaging system used by the correspondent banking network and financial institutions to manage cross-border transactions. It was founded in Brussels in 1973 to establish common processes and standards for international financial transactions.

SWIFT 52

SWIFT Cross-Border Correspondent Bank Correspondent 52

The Fintech Times

MAY 20, 2024

On 14 May, Spain-based Banco Santander and Iberpay , the Spanish retail payment system, processed the first international instant transfers based on the European Payments Council ‘s (EPC’s) ‘One-Leg Out’ scheme, initiated and completed in different currency areas.

Process 49

Process International Payments Instant Payments Treasury Management 49

Nanonets

JULY 21, 2023

Implementing Business Process Automation (BPA) can give your employees extra hours each day. Business process automation lets companies offload entire processes and let BPA software do all the heavy lifting. Optimize your business processes with Nanonets BPA. End result? Get Started Schedule a Demo What is BPA?

Automation 52

Automation Process Audit Payroll 52

Nanonets

APRIL 29, 2024

It is the process of comparing and matching credit card transactions with corresponding spends and financial records to ensure accuracy and transparency in financial reporting.  This may include invoices, receipts, purchase orders, or other documentation related to the transactions.

Reconciliation 52

Reconciliation Credit Cards Correspondent PCI DSS 52

Nanonets

MARCH 4, 2024

Expense reimbursement is a fundamental aspect of business operations, encompassing the process by which employees are paid back for expenses they've incurred on behalf of the company. However, managing this process is fraught with challenges. leveraging the right technology to streamline your expense reimbursement workflow.

Process 52

Process Compliance Automation Audit 52

Fi911

AUGUST 28, 2024

Discover chargeback reason codes are specific numerical identifiers that help define the reasons for a cardholder’s dispute over a transaction. These codes categorize Discover card chargebacks into various types, such as fraudulent transactions, service problems, or processing errors.

Disputes 52

Disputes Non-Bank CHIPS Authorization 52

The Fintech Times

FEBRUARY 28, 2024

Aleks Stefanovski, VP for strategy and business operations at Visa “Another barrier is de-risking by correspondent banks. Most cross-border payments are processed on infrastructure provided by correspondent banks. Most cross-border payments are processed on infrastructure provided by correspondent banks.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 59

Fintech Finance

AUGUST 12, 2024

Additionally, Nium is seeking FX authorization in Brazil to enhance its foreign exchange transaction capabilities. These licenses will elevate clients’ trust in Nium’s industry-leading risk and compliance processes, ensuring secure and efficient transactions. Nium has been present in the region dating back to 2017.

Real Time Payments 98

Real Time Payments Cross-Border Payments Cross-Border Central Bank 98

Fintech News

JANUARY 30, 2024

This evolution presents a fascinating panorama of trends that are set to redefine the way financial transactions are conducted. Skyrocketing Rise of Instant Payment Infrastructure The growth of instant payment systems in Asia marks a significant shift towards faster and more efficient financial transactions.

Payments Trends 115

Payments Trends Digital Currency Cross-Border Payments Instant Payments 115

Nanonets

MAY 21, 2024

Accounts receivable reconciliation is a crucial process within accounting and financial management practices undertaken regularly by a business. As transactions with customers and clients occur, businesses generate accounts receivable, which represent amounts owed to them for goods and services sold or rendered.

Reconciliation 52

Reconciliation Accounts Adjustments Correspondent 52

Synapse Payment Systems

NOVEMBER 9, 2022

Especially for card-not-present transactions, it’s often challenging for the business to prove that the customer intentionally made the purchase and did receive their order. You can avoid these chargebacks by making the return process simple and visible. You may even want to include a link to it in your checkout process.

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Disputes Card Issuer Payments Returns 130

Nanonets

APRIL 24, 2024

A bank reconciliation audit is one such process that helps in identifying financial gaps or discrepancies.   This article discusses the significance of bank reconciliation audits and the role of automation in streamlining the process. Looking out for a Reconciliation Software?

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

Stax

AUGUST 20, 2024

3D Secure is a fraud prevention solution with an added layer of security that helps protect buyers and merchants from fraudulent online transactions. This article will discuss what 3D Secure Authentication is and how the 3DS authentication process works. 2D security is the old-school way to transact. Authentication?

Authentication 88

Authentication Security Card Issuer Payment APIs and Integration 88

Fi911

JUNE 18, 2024

Whether you’re a cardholder, merchant, or financial institution, this service simplifies the typically complex process of managing claims and chargebacks. As we’ll see, this platform is integral for upholding trust and transparency in financial transactions, ultimately fostering a more seamless and reliable banking experience.

Disputes 75

Disputes Issuers Acquirers Compliance 75

EBizCharge

JUNE 19, 2024

This simple, yet essential document can decode transactions and play a role in streamlining accounts receivable (AR) operations. By providing a detailed record of each transaction, remittance advice helps prevent errors and discrepancies, aids in tracking outstanding payments, and enhances overall cash flow. What is remittance advice?

Payer 52

Payer Reconciliation Correspondent Disputes 52

The Fintech Times

JUNE 8, 2024

Moneyhub Account Verification leverages Moneyhub’s AIS API to enhance the security and integrity of online financial transactions. It provides a robust method for ensuring that payment details and account names correspond precisely to registered account information.

Verification 59

Verification Accounts Payment APIs and Integration Online and Mobile Banking 59

Nanonets

JANUARY 31, 2024

Month-end reconciliation is the most important part of the month-end close process. Read to learn more: Month-End Account Reconciliation Reconciliation is the process of matching the company’s general ledger with payments and deposits recorded in documents like bank statements, credit card statements, or invoices.

Reconciliation 52

Reconciliation Best Practices Adjustments Correspondent 52

EBizCharge

JUNE 25, 2024

This article will explore invoice reconciliation to help you better understand how it works, its associated benefits, and strategies for speeding up this process. Invoice reconciliation is an essential accounting process that involves cross-checking and validating the amounts charged on invoices against other financial records.

Reconciliation 52

Reconciliation Automation Transactions Correspondent 52

PYMNTS

OCTOBER 19, 2020

However, these common payment methods are rife with frictions, including slow processing times, exorbitant fees, and the potential for interception by hackers who can pilfer the payments themselves or the personal data that accompanies them. Handling such investigations costs banks up to 35 times more than payment processing itself.

Cross-Border Payments 77

Cross-Border Payments Cross-Border Correspondent Bank Technology 77

Nanonets

APRIL 15, 2024

What is a Bank Reconciliation Statement Bank reconciliation is the process that ensures that a company's recorded cash balances align with the funds in their bank accounts. Transactions : The statement lists all transactions that have affected the bank account during the reconciliation period.

Reconciliation 52

Reconciliation Adjustments Correspondent Checks 52

Fintech Finance

JANUARY 2, 2024

Swift has consistently played a pivotal role in facilitating such transactions, connecting a vast network of financial institutions as well as banks worldwide. This novel service aims to reduce errors, expedite transaction speed and improve straight-through-processing, resulting in a more seamless customer experience.

Cross-Border Payments 59

Cross-Border Payments Cross-Border SWIFT Verification 59

Fintech Finance

JUNE 7, 2024

Moneyhub Account Verification leverages Moneyhub’s AIS API to enhance the security and integrity of online financial transactions. It provides a robust method for ensuring that payment details and account names correspond precisely to registered account information.

Verification 52

Verification Accounts Payment APIs and Integration Online and Mobile Banking 52

Fintech News

APRIL 11, 2024

Unravelling the complexity of cross-border payments Cross-border payments serve as vital arteries of international commerce, from traditional bank transfers to cutting-edge blockchain technologies, accommodating a broad spectrum of transaction mechanisms.

Cross-Border Payments 117

Cross-Border Payments Cross-Border APACS Payments 117

PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. “Adoption of ISO 20022 will continue the transformation of correspondent banking already ongoing,” SWIFT said in its announcement.

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ISO 20022 ISOs SWIFT Cross-Border 76

Nanonets

MAY 6, 2024

It is a record of all financial transactions of an enterprise and provides a comprehensive account of the organization's monetary activities. These documents provide supplementary details and serve as external sources of validation for the transactions recorded in the general ledger.    Date: The date of the transaction.

Reconciliation 52

Reconciliation Payroll Automation Transactions 52

The Fintech Times

AUGUST 13, 2024

Commercial and consumer-based cross-border payment transactions in Latin America grew by double-digit figures between 2021 and 2022, according to a McKinsey & Company report in 2023. ” Nium is also seeking FX authorisation in Brazil to enhance its foreign exchange transaction capabilities.

Cross-Border Payments 69

Cross-Border Payments Cross-Border Real Time Payments Correspondent Bank 69

PYMNTS

SEPTEMBER 27, 2019

Criticism of the world’s correspondent banking network continues to mount — and at the same time, the number of correspondent banking relationships is on the decline. percent decline in correspondent banking activity in 2017.

Correspondent Bank 55

Correspondent Bank Correspondent Cross-Border ISO 20022 55

Fintech Finance

JANUARY 11, 2024

It explores the challenges faced by financial institutions in correspondent banking relationships, shedding light on regulatory compliance, security concerns, foreign exchange rate risks, and the impact of fintech players entering the field. “The evolving nature of cross-border payments demands a proactive approach. .

Cross-Border Payments 93

Cross-Border Payments Cross-Border Faster Payments ISO 20022 93

Clearly Payments

JUNE 3, 2024

Security is a top priority in payment processing. Tokenization in payments is a security process that transforms sensitive payment data, such as credit card numbers, into a unique string of characters called a token. This token is specific to a merchant and transaction. What is Tokenization? What is Tokenization?

PCI DSS 59

PCI DSS Payment Gateways Gateways Payments 59