Mon.Sep 16, 2024

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You Thought You Knew Virtual Cards…Think Again

Payments Next

By John Toman, Co-founder & Chief Product Officer, Pivot Payables Commercial virtual cards have been available for years as a payment method The post You Thought You Knew Virtual Cards…Think Again first appeared on Payments NEXT.

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Citi COO relieved of responsibility for data overhaul following $136 million fine

Finextra

Citigroup is stripping chief operating officer Anand Selva of his responsibility for data compliance after the bank was hit with $136 million in fines for its failure to address long-standing deficiencies in risk management and data governance.

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UnionPay, AXS to Ease Bill Payments for Mainland Chinese Residents in Singapore

Fintech News

UnionPay has partnered with payment solutions provider AXS to introduce a new bill payment service tailored for Mainland Chinese residents living in Singapore. By leveraging the UnionPay app, users can now conveniently pay various bills, including household expenses, educational fees, electricity, condo management fees, season parking, town council fees, healthcare, and home services, directly from their Mainland China-issued UnionPay cards.

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Sweden's central bank threatens banks with legislation to protect access to cash

Finextra

Sweden's Riksbank is threatening banks with the propect of regulation to ensure business access to cash services.

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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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Mastercard Plans to Acquire Threat Intelligence Firm Recorded Future for US$2.65B

Fintech News

Payments giant Mastercard has announced plans to acquire global threat intelligence company Recorded Future for US$2.65 billion. Mastercard aims to strengthen its cybersecurity capabilities with this acquisition as cybercrime costs are projected to reach US$9.2 trillion by 2024. Recorded Future specializes in real-time threat detection, using AI and data analysis to provide actionable insights to clients, including governments and Fortune 100 companies.

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Triple-A Powers Instant Crypto-to-Fiat Conversion for DCS Card Top-ups

Fintech News

DCS Card Centre has partnered with licensed digital currency payment provider Triple-A to allow customers to top up their virtual accounts using digital assets. The new feature, available through the DCS Cards app, lets users instantly convert their crypto holdings into Singapore dollars and use the funds for bill payments or other card purchases. Triple-A handles the conversion process, ensuring that DCS itself does not interact with the digital assets.

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Trustly’s Ecospend Retains Its Key Open Banking Contract With HMRC

Fintech Finance

Ecospend , a Trustly Company and the UK leader in open banking payments, has retained the UK’s most significant open banking contract to date with HM Revenue and Customs (HMRC). Ecospend will continue to offer its Open Banking solutions to enhance parts of HMRC’s payment processes and deliver innovative data solutions for taxpayers. Such services provide a range of benefits from decreasing errors and reducing fraud to improving usability for UK taxpayers while reducing costs for HMRC itself.

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STACS Rebrands as ESGpedia, Signals Expansion Amidst Rising ESG Demands

Fintech News

Hashstacs, previously known as STACS, has rebranded to ESGpedia , adopting the name of its flagship Environmental, Social, and Governance (ESG) platform. Headquartered in Singapore, ESGpedia provides data and technology solutions to support sustainability initiatives across Asia Pacific. The platform powers the Monetary Authority of Singapore’s (MAS) Project Greenprint ESG Registry , tracking sustainability data to address greenwashing concerns.

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Brite Payments to Explore Consumer Payment Preferences and Rise of Pay by Bank in Upcoming Webinar

Fintech Finance

Brite Payments , a leading provider of open banking-based instant payments, will host its upcoming webinar Payment Insights 2024 at 15:00 CEST (14:00 BST) on Thursday, 26 September. Drawing upon exclusive survey data and findings from the 2024 Instant Economy Payment Insights report, leading payments experts will provide businesses with essential insights into the evolving landscape of online payments across Europe, with a particular focus on the rise of Pay by Bank.

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15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

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CFPB sues credit card company over excessive fees

Payments Dive

The agency says Horizon Card Services violated the Truth in Lending Act by charging fees as high as 60% of a customer’s credit limit, and all but refusing to cancel their cards.

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Citi COO shares responsibility for data overhaul following $136 million fine

Finextra

Citigroup is stripping chief operating officer Anand Selva of his full responsibility for data compliance after the bank was hit with $136 million in fines for its failure to address long-standing deficiencies in risk management and data governance.

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Visa, Mastercard enable rail transit payment in Beijing

Payments Dive

The major card networks enabled systems that allow international travelers in China to use their cards to pay for Beijing rail transit as of last week.

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August Tech Layoffs Highest Since January

The Finance Weekly

Sixty-four percent of tech companies pivot towards Artificial Intelligence (AI) to streamline operations. Tech giants like Apple, IBM, Cisco, Dell, and Intel were among the 48 companies that announced a whopping 26,024 job cuts. Over 400 tech companies have made similar announcements, affecting more than 130,000 workers, with January having the highest count of job cuts at 34,107.

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eCommerce in 2025: How Customer Experience Drives Online Retail Success

Speaker: Jennifer Wright and Nick Barron

2025 is right around the corner, and with it comes a new wave of consumer expectations, competitive pressures, and operational challenges. Success lies in finding the balance between operational flexibility and creating experiences that keep customers coming back. The future of retail belongs to those who can stay ahead of shifting customer preferences and marketing trends. 🔮 In this session, we’ll dive deep into what it takes to keep customers engaged and your operations nimble, no matt

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Key trends shaping the future of payments

Payments Dive

Explore trends reshaping the landscape of payments and how businesses can stay ahead with modern solutions.

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Tottenham Hotspur Announces Ant International as Global Payment Solutions and Digital Wallet Partner

Fintech Finance

Tottenham Hotspur has announced a new three-year strategic partnership with Ant International , a digital payment and financial technology leader. The partnership sees Ant International, together with its business brands Alipay+, Antom and WorldFirst, become the exclusive Official Global Payment Solutions and Digital Wallet Partner of Tottenham Hotspur, and Alipay+ the first Official Training Wear Sleeve Partner for both the men’s and women’s teams.

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How central bank digital currencies (CBDCs) can enhance cross-border payments

The Payments Association

Central bank digital currencies (CBDCs) could transform cross-border payments by reducing costs, improving efficiency, and enhancing transparency.

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Ally faces legal battle after data breach

Bank Automation

Ally Financial faces two class action lawsuits in the wake of a data breach earlier this year. Plaintiff Sebastian Owens, among others in the class action suit, according to court documents filed in the District Court of Western District of North Carolina on Sept. 7, are suing Ally Financial subsidiary Detroit-based Ally Bank for: […] The post Ally faces legal battle after data breach appeared first on Bank Automation News.

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7 Essential Criteria for Choosing the Right Payments Partner

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.

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APP fraud developments: A risk-based approach to delayed payments

The Payments Association

The FCA's latest guidance proposes a risk-based approach allowing payment service providers to delay outgoing payments to combat APP fraud, balancing fraud prevention with consumer protection.

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Club L London partners with Checkout.com

The Paypers

Global digital payments provider Club L London has partnered with Checkout.com in order to accelerate international expansion on the Shopify platform.

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75% of Truist customers’ primary access is mobile app

Bank Automation

Truist Financial is seeing increased mobile banking adoption among its customers as it prioritizes personalized experiences. “You hear people talk ‘digital first,’ [but] I would actually argue it’s ‘mobile first,’” Sherry Graziano, head of digital, client experience, and marketing at Truist, told Bank Automation News. “Three-quarters of our clients are engaging in mobile as their […] The post 75% of Truist customers’ primary access is mobile app appeared first on Bank Automation News.

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UK banks hail Regulated Liability Network experiments

Finextra

The UK's biggest banks have completed the experimentation phase of a Regulated Liability Network, claiming a number of benefits that the financial market infrastructure for programmable money operating on a multi-bank shared ledger could bring.

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Loyalty 101: How To Turn Browsers Into Buyers For Lasting Engagement

Speaker: Shaunna Bruton, Danielle Wyllie, and Kailey Holmes

Say goodbye to one-size-fits-all retail, and say hello to experiences that keep your customers coming back for more! Customer loyalty isn’t just earned - it’s cultivated through meaningful engagement with the help of data. This webinar will take you behind the scenes of how top retailers turn customer data into personalized experiences that drive engagement and retention.

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Germany's LBBW chooses Fenergo's cloud-based onboarding

The Paypers

Ireland-based regtech Fenergo has been selected by Germany’s state bank Landesbank Baden-Württemberg (LBBW) to provide cloud-based onboarding.

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Customer Experience Gap in Digital Banking: Why It Matters and How to Close It

Finextra

Banks and financial institutions are under immense pressure to innovate and modernize their service

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Galileo launches GIVE to fight fraud

The Paypers

Galileo Financial Technologies has launched GIVE and the Transaction Risk GScore providing fintechs, banks, and businesses with solutions to combat fraud.

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Barclays struggles to find buyer for UK merchants payments stake

Finextra

Barclays is having a hard time selling off a stake in its UK merchant payments unit with potential buyers baulking at the bank's valuation of the business, according to Reuters.

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Enhance Customer Value: Unleash Your Data’s Potential

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

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fabric expands AWS partnership to augment retail with AI

The Paypers

US-based commerce platform fabric has expanded its partnership with AWS to change the way retailers operate, accelerate innovation, and make decisions with the help of AI.

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Zopa Bank amasses $5 billion in customer deposits

Finextra

Zopa Bank has surpassed £5 billion in customer deposits.

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Revolut integrates Bizum in Spain

The Paypers

Revolut , a financial app, has announced the integration of Bizum , digital payment platform in Spain, for peer-to-peer transactions.