Payments Dive

MARCH 4, 2024

Federal regulators reviewing whistleblower allegations related to Block’s Cash App may act on the complaints this year, predicted an attorney for the complainants.

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Blocks Regulations 177

The Fintech Times

MARCH 4, 2024

Compliance remains one of the biggest challenges in the financial industry for firms of all sizes across the globe. With rules and regulations constantly changing, many banks and other financial institutions are falling victim to not keeping up. The regulatory minefield can be too much to contend with, particularly for new firms entering the space for the first time.

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Due Diligence Money Laundering Risk Regulations 127

BlueSnap

MARCH 4, 2024

Effective invoice payment processing is crucial for your business’s financial stability and healthy cash flow, yet so many companies still grapple with delayed payments, inefficient processes and the risk of funds stalling in collections. The post 5 Essential Tools for Invoice Payment Processing appeared first on BlueSnap.

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Process Payments Risk Posting 117

Finextra

MARCH 4, 2024

American Express is writing to customers warning them that their account information may have been compromised in a data breach at a third party service provider.

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Data Breach Breach Third-Party Service Provider Compromise 119

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

Stax

MARCH 4, 2024

Let’s talk about the “F” word—fraud. In 2023, the cost of fraud to online businesses was $48 billion globally, according to Mastercard. To stay ahead of fraud means merchants must understand the threats, use trusted and secure providers, and keep up to date on payment security trends. So, let’s dive into payment security, touching on the basics of what you need to know to ensure secure payments.

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PCI DSS Payment Security Security MFA 88

Basis Theory

MARCH 4, 2024

Merchants use batch payment processing to submit multiple transactions at once, rather than in real-time as the payment details come in, generally to reduce fees and increase flexibility. For example, most restaurants submit all their credit card transactions at the end of the day, as they must update each final total with whatever tip customers may have added.

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Process Credit Cards Payments Transactions 88

Finezza

MARCH 4, 2024

The rapid transformation of the financial sector demands innovative digital solutions. To keep up with the pace, lenders are seeking cutting-edge solutions to help deal with modern challenges, such as identity thefts, while ensuring seamless user experiences. Virtual credit cards (VCCs) have emerged as a transformative tool. They offer a solution to the safety problem […] The post How Do Virtual Credit Card Numbers Work: Implications for Lenders appeared first on Finezza Blog.

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Credit Cards Identity Theft On-Demand Innovation 98

Finovate

MARCH 4, 2024

Join us for an exclusive webinar that explores the cutting-edge partnership between Central Bank and Personetics, aimed at revolutionizing the way community banks deliver meaningful value by proactively helping customers better manage their finances. Hear directly from experts Daniel Westhues , Executive Vice President and CMO at Central Bank, and Jody Bhagat , President of Americas at Personetics.

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AI Central Bank Community Banks Finance 97

Fintech News

MARCH 4, 2024

Thailand’s Finance Ministry announced that it will begin accepting applications for virtual bank licenses within the next six months, aiming to expand financial inclusion for those with limited or no access to traditional banking services. According to Reuters , the ministry also released guidelines for applicants, who will need to demonstrate experience and resources sufficient to support a commercial banking business model.

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Financial Inclusion Caps Authorization Finance 107

Finextra

MARCH 4, 2024

ChargeAfter, an embedded lending provider for point-of-sale financing, has launched a hub that lets banks create, manage, and distribute any lending product from one centralised platform.

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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

Fintech News

MARCH 4, 2024

Online money transfer service Wise announced that its users in Indonesia will no longer be able to store funds within the app’s e-wallet, effective 23 May 2024. The Daily Social reported that this change stems from regulatory requirements as Wise currently lacks the necessary license to operate as an electronic money provider in Indonesia, as mandated by Bank Indonesia’s regulation.

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Payment APIs and Integration Debit Card Funds Transfer API 105

Bank Automation

MARCH 4, 2024

Lloyds Bank is looking to invest in cybersecurity and technology related to insurance and regulatory monitoring in 2024 amid uncertain macroeconomic conditions. “I like regtech because it’s important to keep on innovating in that space,” Robin Scher, head of fintech investment at Lloyds Bank, said at FinovateEurope last week.

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Fintech News

MARCH 4, 2024

Thredd, a growing global payments platform, has appointed Edwin Poot as its new Global Chief Technology Officer (CTO). Poot will oversee the company’s technology strategy and lead its product and geographic expansion plans. Poot brings over 20 years of experience in financial services, technology, and e-commerce. He will work closely with Thredd’s Chief Product Officer, Ava Kelly, to deliver the company’s payment solutions and expand its global reach.

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B2C B2B Compliance Technology 103

Finextra

MARCH 4, 2024

The Central Bank of Ireleand has outlined a new multi-year payments strategy amid concerns that banks are failing to grasp the opportunities presented by instant payments.

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Central Bank Payments Strategy Instant Payments Payments 81

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

Fintech News

MARCH 4, 2024

Money20/20, the premier global fintech event, announces that over 120 speakers are confirmed and will be taking the stage at Money20/20 Asia , held at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on 23-25th April. The event’s three themes—Integration, Virtualisation, and Eastward Expansion—explore the future of finance, celebrating innovation in Southeast Asia.

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Fintech Finance

MARCH 4, 2024

Fastly, Inc. , a leader in global edge cloud platforms, today announced it has been selected by leading Australian payments automation provider Monoova to provide enhanced transaction security for the company’s growing client base. Since it was launched in 2017, Monoova’s proprietary payments platform has processed transactions worth more than $100 billion and the platform handles millions of transactions each month.

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Security Payments API Transactions 90

Fintech News

MARCH 4, 2024

Bahrain’s sovereign wealth fund Mumtalakat announced an investment in Singapore Gulf Bank (SGB), a new digital bank founded by Whampoa Group. This investment will support SGB’s launch and growth in Bahrain, following the bank’s recent licensing approval from the Central Bank of Bahrain. SGB will offer a digital banking platform for global investors, institutions, and innovators, providing access to conventional and digital assets, real-time settlements, and asset management.

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Security Central Bank Cross-Border Settlement 98

Bank Automation

MARCH 4, 2024

Citizens Bank takes a measured approach to adopting new technology. The best new products are created with an abundance of identified use cases, Jo Wyper, executive vice president and head of operations at Citizens Commercial Bank, tells Bank Automation News on this episode of “The Buzz” podcast.

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Use Case Automation Product Technology 75

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

Fintech News

MARCH 4, 2024

Indonesia’s Financial Services Authority (OJK) has lifted restrictions on the buy now, pay later (BNPL) service offered by fintech firm Akulaku , according to a statement from the company to Tech in Asia. This decision marks a major turnaround for Akulaku, enabling the company’s BNPL product, Akulaku PayLater, to resume its financing activities for users and customers as previously conducted.

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BNPL Non-Bank Risk Management Credit Cards 90

Finextra

MARCH 4, 2024

The Central Bank of Ireleand has outlined a new multi-year payments strategy amid concerns that banks are failing to grasp the opportunities presented by instant payments.

Central Bank 75

Central Bank Payments Strategy Instant Payments Payments 75

Fintech News

MARCH 4, 2024

wagely, an Indonesian earned wage access (EWA) firm, has raised US$23 million in a funding round comprising both equity and debt financing. The round was led by Capria Ventures with contributions from existing investors and a private debt fund. The platform offers a practical solution for workers in Indonesia and Bangladesh to manage their finances more effectively by allowing access to earned wages after each workday. wagely’s service is provided at no cost to employers, who in turn offer

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Financial Literacy Underserved Use Case AI 88

Payments Dive

MARCH 4, 2024

The peer-to-peer payment app provided a performance update, with transactions volume and value both up about 30% from the previous year.

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Zelle Transactions Volume Payments 103

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

MARCH 4, 2024

SteelEye, the first truly integrated surveillance platform trusted by well over 150 financial firms globally, has strengthened its footprint in the Asia-Pacific (APAC) region by incorporating in Singapore, enabling closer collaboration with clients and regulatory authorities.

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APACS Authorization 76

Electronic Payments Coalition

MARCH 4, 2024

The Congressional Research Service (CRS) released a report scrutinizing the benefits of the Durbin-Marshall Credit Card Bill, revealing uncertainties similar to those raised by the Richmond Federal Reserve: that routing mandate legislation has not and will not yield significant savings for consumers. This independent analysis raises critical questions about the real beneficiaries of such regulatory efforts, suggesting that, contrary to claims made by the bills sponsors, the advantage may instea

Credit Cards 69

Credit Cards Federal Reserve Caps Research 69

The Fintech Times

MARCH 4, 2024

Representing the financial services industry in the Cayman Islands, Cayman Finance has approved the Ministry of Financial Services’ proposed amendments to the Cayman Islands Virtual Asset Service Providers (VASP) act. The Ministry has chosen to utilise GitHub , the software coding collaboration platform, as one of the options to collate public feedback on the draft legislation.

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Consulting Bitcoin Finance Legal 69

Finovate

MARCH 4, 2024

Galileo Financial Technologies has expanded its partnership with The Bancorp Bank. Though The Bancorp Bank, Galileo will leverage The Clearing House’s Real Time Payments network to offer real-time payments to help its retail and commercial clients transfer money in real time, 24-hours a day. The Clearing House reported record usage of its RTP network in the third quarter of last year, when it reached 64 million transactions valued at $34 billion.

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Real Time Payments RTP FedNow 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

The Fintech Times

MARCH 4, 2024

A new AI assistant has been launched by Klarna , the AI-powered payments network and shopping assistant, to improve customer satisfaction. Powered by OpenAI , the service has been live for a month and has since had 2.3 million conversations, equating to two-thirds of Klarna’s customer service chats. Available in the Klarna app, the assistant is designed to enhance the shopping and payments experience for Klarna’s 150 million consumers worldwide.

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AI Consumer Returns Payment Networks 69

Paystand

MARCH 4, 2024

We are thrilled to announce an exciting collaboration: Beyond Cloud Consulting and Paystand. We are combining our strengths to deliver enhanced value and efficiency to our clients. Beyond Cloud’'s expertise lies in NetSuite implementation, industry-specific workflows, and custom solutions. This aligns with Paystand's commitment to financial automation and immediate access to cash.

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Consulting Automation 64

Finovate

MARCH 4, 2024

We’ve entered the first full week of March. Layoff activity has cooled slightly ( but has not stopped ), and fintech news is heating up. Here’s your weekly news rundown. Check back for real-time updates on how the fintech landscape evolves this week. Payments TrueNorth selects Brim to help it bring small business and commercial credit card-as-a-service technology to banks, fintechs, and others in its professional services organization.

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FinTech Credit Union Credit Cards Small Business 64

The Fintech Times

MARCH 4, 2024

Innovate Finance launches the Unicorn Council for UK FinTech (UCFT), uniting leaders from prominent fintech companies to drive sector growth. The independent industry body for UK fintech has unveiled the first coalition of UK-based fintech unicorn founders – a council that will be co-chaired by Janine Hirt, CEO of Innovate Finance, and a steering committee of fintech leaders including Philip Belamant, CEO of Zilch as well as Charles McManus , CEO of Clearbank.

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FinTech Governance Government Innovation 64

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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