VISTA InfoSec

FEBRUARY 28, 2024

In our ongoing series of articles on the Payment Card Industry Data Security Standard (PCI DSS), we’ve been examining each requirement in detail. Today, we turn our attention to Requirement 8: Identify Users and Authenticate Access to System Components. This requirement is built on two fundamental principles User identification and authentication,1) identifying individuals or processes on a system and 2) verifying their authenticity.

PCI DSS 130

PCI DSS Best Practices Authentication Rules 130

Payments Dive

FEBRUARY 28, 2024

The merger at least raises the possibility that there won’t be two card networks that dominate the future of tokenized transactions, writes one fintech lawyer.

Transactions 158

Transactions FinTech 158

TechCrunch Fintech

FEBRUARY 28, 2024

Payments infrastructure giant Stripe said today it has inked deals with investors to provide liquidity to current and former employees through a tender offer at a $65 billion valuation. Notably, the valuation represents a 30% increase compared to what Stripe was valued at last March when it raised $6.5 billion in Series I funding at […] © 2024 TechCrunch.

FinTech 125

FinTech Payments 125

Payments Dive

FEBRUARY 28, 2024

Capital One is betting the resolution of Discover’s compliance issues will take longer and cost more than expected, Capital One CEO Richard Fairbank said.

Compliance 162

Compliance 162

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

Payments

Fintech News

FEBRUARY 28, 2024

Global payments platform Nium announced that it has secured a payments license to conduct higher-value financial transactions from Japan’s Financial Services Agency (JFSA). According to Nium, it is the first international company to be granted the Type 1 Funds Transfer Service Provider license with the “JFSA recognising its ability to integrate with local payment rails, deliver real-time transactions, provide transparent costs, and offer significantly cheaper rates” This allows

Regulations 117

Regulations Non-Bank Funds Transfer Transactions 117

Finextra

FEBRUARY 28, 2024

Klarna says its OpenAI-powered chatbot is doing the equivalent work of 700 full-time agents after its global launch last month.

AI 131

AI 131

Stax

FEBRUARY 28, 2024

Passing credit card fees onto customers has been hotly debated , but most of the country has agreed: Credit card surcharge should be available to merchants. Even if the consensus is out that it’s okay for merchants to not incur costly transaction fees if accepting credit card payments, it can be difficult to understand how to collect surcharge fees from your customers and retain your customer base.

Credit Cards 88

Credit Cards Debit Card Legal Laws 88

The Payments Association

FEBRUARY 28, 2024

In the first half of 2023, UK Finance reported authorised push payment (APP) fraud losses amounting to £293.3 million, with the total number of APP cases increasing by 22%. The nature of authorised push payment (APP) fraud was harrowing – victims were willingly initiating and authorising payments into controlled accounts, often driven by criminal manipulation or misinformation.

Payee 88

Payee Security Payments Finance 88

Stax

FEBRUARY 28, 2024

Here’s an interesting stat: 70% of businesses consider subscription and membership models indispensable for future commercial growth and expansion. However, only 10% of them currently employ these models. What hinders the 90% is the high costs of delivering better products and experiences that warrant long-term customer loyalty. In a saturated market, how do they distinguish themselves?

Payment APIs and Integration 88

Payment APIs and Integration Automation PCI DSS Fraud Prevention 88

Fintech News

FEBRUARY 28, 2024

Xiaomi-backed online brokerage Tiger Brokers Singapore has collaborated with online money transfer service Wise to introduce the Tiger BOSS debit card. The debit card offers its users the opportunity to earn fractional shares with every dollar spent, which unlike cashback or loyalty points, do not expire in a bid to blend daily spending with investment opportunities.

Debit Card 112

Debit Card Contactless Payments Credit Cards Transactions 112

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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?

Use Case

Stax

FEBRUARY 28, 2024

With only 17% of U.S. consumers using cash for purchases , choosing the right payment terminal for your business is more important than ever. Businesses need to streamline the entire payment process by offering customers a payment setup that’s fast and convenient for credit card transactions. At the same time, you need to address security concerns since you’ll be handling sensitive client information.

Payments 88

Payments Credit Cards Non-Bank Contactless Payments 88

Electronic Payments Coalition

FEBRUARY 28, 2024

WASHINGTON, DC — It’s been nearly 15 years since the Durbin Amendment imposed price caps and routing mandates on debit cards, financially burdening small businesses, while corporate mega-stores, like Walmart and Target, have accumulated substantial revenue gains. Now, Senators Dick Durbin and Roger Marshall are looking to do the same to Americans’ credit cards.

Credit Cards 105

Credit Cards Card Issuer Debit Card Small Business 105

NACHA

FEBRUARY 28, 2024

Nacha Launches New Campaign Highlighting the Many People Benefiting from Direct Deposit droth@nacha.org Wed, 02/28/2024 - 06:01 Image Media CMS-937_Direct-Deposit-Media-Release-Image_Collage_with-Logo (1).

Direct Deposit 104

Direct Deposit NACHA 104

Finezza

FEBRUARY 28, 2024

The lending industry is considered a key driver of economic growth in India. On the business side, lenders are attempting to fill the credit gap, enabling businesses of all sizes and scales to reach their full potential. On the retail side, timely and affordable loans enable consumers to fulfil various aspirations, from purchasing a home […] The post Slash Loan Processing Time: Tips to Optimize Your Loan Origination Process Flow appeared first on Finezza Blog.

Origination 103

Origination Process Posting Consumer 103

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

Best Practices

Finextra

FEBRUARY 28, 2024

Buy now, pay later giant Klarna reports its fifth straight annual net loss while moving forward for an anticipated IPO later this year.

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119

Fintech News

FEBRUARY 28, 2024

In recent years, the landscape of cryptocurrency and digital assets has experienced significant shifts, and Singapore, a nation known for its forward-thinking approach to fintech and digital innovation, is no exception. Interestingly, Singapore’s consumer cryptocurrency ownership is high among those surveyed in new findings, and staking has emerged as the most popular use case, preceding others such as trading cryptocurrencies and holding cryptocurrencies for the long term.

Cryptocurrency 109

Cryptocurrency Stablecoins Digital Currency Regulations 109

Payments Dive

FEBRUARY 28, 2024

Gamified repayment and variable first installments were two features that CEO Cynthia Scott said contributed to the BNPL company’s U.S. revenue growth.

BNPL 88

BNPL 88

Fintech News

FEBRUARY 28, 2024

SCBX, the financial technology business group of Siam Commercial Bank, has inked a deal to fully acquired consumer finance firm Home Credit Vietnam for US$860 million in a bid to expand its footprint in the region. The transaction is set for completion in the first half of 2025, pending regulatory approvals. Established in 2008, Home Credit Vietnam offers a wide range of loan products with over 15 million customers and a network of 14,000 point-of-sales locations, reporting a net profit of VND 1

Acquirers 101

Acquirers Finance Economy Consumer 101

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.

Payments

Bank Automation

FEBRUARY 28, 2024

LONDON — Will embedded finance technology usher in a new era of banking, or is the impact of the technology overblown? Bank executives from ClearBank, Deutsche Bank and Raiffeisen Digital Bank weighed in at FinovateEurope this week. ClearBank Head of Embedded Banking Paul Staples at $3.

Embedded Finance 83

Embedded Finance Finance Technology Payments 83

Fintech News

FEBRUARY 28, 2024

Singapore’s fight against phishing scams saw notable progress in 2023, with a reported 16% decrease in cases and a 14% reduction in financial losses compared to the previous year. This improvement is attributed to the concerted efforts of the Monetary Authority of Singapore (MAS) and the banking industry to implement robust anti-scam measures.

Phishing 94

Phishing Scams Authentication Authorization 94

Bank Automation

FEBRUARY 28, 2024

Royal Bank of Canada’s deal to acquire HSBC Canada for $10 billion, announced in November, is expected to close on March 28. The bank announced last quarter that conversion activities would likely begin April 1, according to an RBC release.

Transactions 81

Transactions Adjustments Acquirers 81

Fintech Finance

FEBRUARY 28, 2024

ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, today announced an extension of its longstanding partnership with Kuvasz Solutions , a leading Latin American provider of professional services for the payments industry, to advance the adoption of Colombia’s new domestic real-time payments ecosystem, announced by ACI and the Colombian Central Bank in December 2023.

Real Time Payments 81

Real Time Payments Financial Inclusion Central Bank Payments 81

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.

Continuity

Finextra

FEBRUARY 28, 2024

Mastercard has launched a programme that uses open banking to streamline the account opening process for some US debit and prepaid products.

Visa 99

Visa Issuers Accounts Process 99

Bank Automation

FEBRUARY 28, 2024

National Bank of Canada focused on cost management and overall efficiency as it boosted tech spend and pulled back on headcount in the first quarter of 2024. Tech spend grew 3.6% year over year to $CA259 million ($190 million) for the quarter ended Jan.

Cost Management 78

Cost Management Continuity Technology 78

The Fintech Times

FEBRUARY 28, 2024

The European Council has introduced new regulations to make instant payments fully available in euros to consumers and businesses in the European Union (EU) and European Economic Area (EEA) countries. By ushering in the new instant payments regulations, the European Council hopes to improve the strategic autonomy of the EU economic and financial sector, by helping to reduce any excessive reliance on third-country financial institutions and infrastructures.

Instant Payments 69

Instant Payments Regulations Non-Bank Payments 69

BioCatch

FEBRUARY 28, 2024

Open banking will expose financial institutions to the ‘weakest link’ problem in a whole new way, and the variety of consequences could upend how banks and credit unions manage account protection altogether. New regulations appear to be on the collective doorsteps of US financial institutions. Yet if they are not ready, all the efforts the industry has made in shaping the direction of the upcoming open banking regulations will be nothing more than a Pyrrhic victory.

Credit Union 64

Credit Union Regulations Accounts Payments 64

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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.

AI

Paystand

FEBRUARY 28, 2024

Consider creating a flowchart if you're looking for ways to improve your accounts receivable process. An accounts receivable flowchart visually represents the collection process, highlighting areas of inefficiency and opportunities for automation. Accounts receivable flowcharts are excellent for helping accounts receivable departments to visualize their processes.

Accounts 70

Accounts Automation Process 70

Finextra

FEBRUARY 28, 2024

Stripe has struck a deal with investors that will enable employees to cash out their shares in an offering that values the payments giant at $65 billion.

Payments 69

Payments 69

The Paypers

FEBRUARY 28, 2024

Mastercard has announced the launch of its new Open Banking programme, aimed to optimise the debit and prepaid digital account opening experience for US clients.

Visa 73

Visa Product Accounts 73

BioCatch

FEBRUARY 28, 2024

It is estimated that up to 80 percent of fraud and scams start on social media platforms. The Online Safety Act puts the onus on tech companies to do more to remove harmful content from their platforms to prevent scams in the first place.

Scams 59

Scams Authorization Payments 59

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Build a sustainable merchant services portfolio with practical strategies to ensure long-term success. Diversify across industries to spread risk and stabilize income, balancing high-risk and low-risk clients for a robust mix. Combine large and small merchants to create a resilient payment portfolio, leveraging each type's strengths. Foster long-term relationships through exceptional service and personalized support.

Payments