Fintech News

OCTOBER 14, 2024

Cambodia has rolled out the integration of Alipay+ with its national QR code system, KHQR for seamless international payments. This launch enables users of 12 international payment apps, including Alipay, AlipayHK, GCash, and Touch ‘n Go, to pay at over one million merchants in Cambodia using KHQR, the country’s standardised QR code. More merchants are expected to be progressively added, further expanding payment accessibility in the country.

Cross-Border 143

Cross-Border Cross-Border Payments Payments International Payments 143

The Payments Association

OCTOBER 14, 2024

Traditionally, consumers stuck with familiar banks, but there’s now a growing trend of current account switching. According to data from Pay.UK, the Current Account Switch Service (CASS) has completed 10.9 million switches since its launch and successfully redirected 152.7 million payments, with motivations for switching including higher interest rates, lower account fees and fewer charges.

Accounts 88

Accounts Consumer Online and Mobile Banking Multi-Currency 88

Stax

OCTOBER 14, 2024

As a business owner, the number of executive decisions that need to be made on a day-to-day basis can be scary at times. Hunting for a payment processor provider for your business shouldn’t be one of those things. When digging through the thousands of solutions that are meant to help you accept payments, finding the right tools is a priority but it’s not everything.

Processors 88

Processors Small Business Payment APIs and Integration Payments 88

The Payments Association

OCTOBER 14, 2024

What is this article about? The Payment Systems Regulator’s decision to lower the cap for APP fraud reimbursements to £85,000. Why is it important? It affects how victims of fraud are compensated and how payment service providers (PSPs) approach fraud prevention. What’s next? PSPs will need to adapt their fraud prevention strategies and comply with the new reimbursement rules starting in October 2024.

Caps 88

Caps Fraud Prevention Fraud Detection Scams 88

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

OCTOBER 14, 2024

The Singapore Police Force (SPF) and the Monetary Authority of Singapore (MAS) have issued a joint warning about a sharp increase in government impersonation scams. At least 100 cases reported and losses exceeding S$6.7 million in September 2024 alone. These scams involve fraudsters posing as bank officers, often from major banks like DBS, OCBC, UOB, or Standard Chartered, to deceive victims.

Scams 113

Scams Money Laundering Authorization Blocks 113

The Payments Association

OCTOBER 14, 2024

What is this article about? The flaws in prevailing central bank digital currency (CBDC) designs and suggestions for improving them. Why is it important? These design flaws could undermine efforts to create a public digital payments system for the future economy. What’s next? To rethink the assumptions behind CBDC proposals and push for more privacy-oriented innovative solutions Many central banks and financial authorities worldwide are experimenting with central bank digital currency (CB

Privacy 88

Privacy Addressing CBDC Payer 88

Finextra

OCTOBER 14, 2024

Russia is pushing for the creation of a new cross-border payment system for Brics countries as part of a scheme that would help the country to evade financial sanctions and reduce its reliance on the US dollar.

Cross-Border 98

Cross-Border Cross-Border Payments SWIFT Payments 98

Finezza

OCTOBER 14, 2024

Despite their best efforts, established banks often suffer from manual approaches and outdated processes. Vis-a-vis modern customer expectations of a quick approval time and flexible digital lending, these barriers usually force borrowers to seek alternate solutions. Fintech startups and lending businesses aim to close this exact gap. But the question is, how well-stacked are the […] The post The Digital Lending Revolution: Startups vs.

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FinTech Process Posting 98

Fintech Finance

OCTOBER 14, 2024

Mastercard today takes another step forward in its mission to enhance trust in the digital economy, with the pilot launch of its Identity Attribute Verification service in several European markets. This initiative enables businesses to verify customer identity attributes securely and seamlessly. Mastercard has long supported merchants and financial institutions in assessing risk by leveraging key attributes, such as name and payment information, as part of enabling billions of secure digital i

Verification 104

Verification Visa Privacy Issuers 104

Finextra

OCTOBER 14, 2024

A new study released by Tietoevry has found that 79% of banks in Europe are currently in the process of modernizing away from legacy card platforms.

Process 98

Process 98

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Fintech Finance

OCTOBER 14, 2024

Revolut , the global fintech with more than 45 million customers worldwide and hundreds of thousands of business customers, has today announced the launch of Revolut Terminal in the UK and Ireland, with pre-orders beginning today in the UK and in the next month for Ireland. A new point of sale device optimised for speed, Revolut Terminal will allow businesses to accept payments in seconds and meet the growing demand for quick, reliable point-of-sale (POS) devices.

Point-of-Sale (POS) 95

Point-of-Sale (POS) On-Demand B2B Acquirers 95

Finextra

OCTOBER 14, 2024

Mastercard is to pilot launch a new service that gives issuers the ability to verify more detailed personal information about cardholders, eliminating the need to upload documents like photo ID, proof of residency or passport.

Visa 86

Visa Verification Issuers 86

Fintech News

OCTOBER 14, 2024

Alipay+, a cross-border mobile payment solution by Ant International , has seen a notable increase in global transactions as international travel resumes. The number of travelers using their home payment apps via Alipay+ tripled during the first nine months of 2024, reflecting a shift towards familiar payment methods while abroad. Alipay+ currently connects over 1.6 billion consumers through 30 payment partners, offering access to more than 90 million merchants across 66 markets.

Transactions 96

Transactions Cross-Border Cross-Border Payments Mobile Payments 96

DeckCommerce

OCTOBER 14, 2024

If your in-house tech stack has turned into a monster, here are 3 indicators a dedicated order management system can be the solution.

Technology 98

Technology 98

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

Payments Dive

OCTOBER 14, 2024

The two payments companies have teamed up to provide account-to-account payments for gaming merchants and their customers.

Payments 88

Payments Accounts 88

Fintech Finance

OCTOBER 14, 2024

Global Screening Services (GSS) , a leading RegTech pioneer, today announced an extended partnership with Swift that will enable financial institutions around the world to access its unique end­ to-end sanctions screening platform over the same infrastructure that they already trust to move money between more than 200 countries and four billion accounts globally.

Cross-Border Payments 93

Cross-Border Payments Cross-Border SWIFT Innovation 93

Fintech News

OCTOBER 14, 2024

Aspire, a Singapore-based finance platform for businesses, has secured in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore (MAS). This approval will allow Aspire to expand its financial services for businesses. Currently operating under a temporary license exemption, Aspire provides services like international payments, corporate cards, and payables management through a single platform.

Payments 92

Payments International Payments Payments Institute Security 92

Fintech Finance

OCTOBER 14, 2024

Standard Chartered has announced the introduction of Autoquote, a new digital request for quote (RFQ) module available on its Straight2Bank Next Gen, the bank’s digital banking platform. The new digital capability offers its clients globally the ability to request pricing quotations for their letters of credit (LCs) confirmation and discounting/negotiation and receive a digital response on demand, from anywhere and at any time.

Finance 91

Finance On-Demand Process Continuity 91

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

OCTOBER 14, 2024

The Singapore government has blocked NTUC Enterprise ’s proposed sale of Income Insurance shares to Allianz, citing concerns over the structure of the deal. The decision comes despite no objections to Allianz’s suitability as a partner. The government has tabled an amendment to the Insurance Act in Parliament, enabling the Monetary Authority of Singapore (MAS) to withhold approval of transactions involving current or former cooperative insurers if public interest is at stake.

Blocks 91

Blocks Government Governance Authorization 91

Fintech Finance

OCTOBER 14, 2024

Orbital , a group of regulated entities acting as leading payments solutions providers, proudly announces it has achieved SOC 2 Type 2 compliance. This significant milestone underscores the company’s unwavering commitment to maintaining the highest standards of security and resilience. Orbital’s compliance was verified through a rigorous audit conducted by A-LIGN , a globally respected Certified Public Accountant (CPA) firm.

Compliance 86

Compliance ISOs Procedures Audit 86

Bank Automation

OCTOBER 14, 2024

Financial institutions can couple AI with “behavioral banking” to grow revenue, industry experts say. Behavioral banking is a strategy that banks are exploring to analyze consumer data as a way to present timely products to customers to increase loyalty alongside bank revenue. Banks usually sell the same financial products at about the same price, Dorel […] The post How AI and ‘behavioral banking’ boosts FI revenue appeared first on Bank Automation News.

AI 69

AI Automation Product Posting 69

Finextra

OCTOBER 14, 2024

Team AgriEco Hub and Team 3: Nature Risk & Reporting have been announced as the winners of this year’s hackathon, which took place in partnership with NayaOne alongside the conference.

Finance 69

Finance Risk 69

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

Payments Dive

OCTOBER 14, 2024

The London-based consumer bank will issue two GM credit cards in the U.S., beginning next summer.

Card Issuer 78

Card Issuer Issuers Credit Cards Consumer 78

Finextra

OCTOBER 14, 2024

Rerail, an angel fund for fintech startups, has closed on a $20 million warchest.

FinTech 104

FinTech 104

Finovate

OCTOBER 14, 2024

Financial literacy platform Doshi has teamed up with London-based TSB Bank. TSB bank will visit schools to encourage students to use Doshi’s financial literacy app. Headquartered in London, Doshi made its Finovate debut earlier this year at FinovateEurope 2024. Gamified financial literacy platform Doshi has teamed up with London-based TSB Bank.

Financial Literacy 64

Financial Literacy Credit Union Finance FinTech 64

Finextra

OCTOBER 14, 2024

TSB has partnered with Doshi to bring money confidence to schools – as the organisations team up to encourage 1,000 students aged between 13-18 to sign up to the financial education service.

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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 Paypers

OCTOBER 14, 2024

Safaricom has extended its M-PESA Global solution to Ethiopia in order to allow customers to make mobile money transactions from Kenya to Ethiopia.

Transactions 78

Transactions 78

Finextra

OCTOBER 14, 2024

Set to launch later this year, Sunshine+Kittens, the new money app partners with MasterCard to offer a full-service account designed specifically for young people, with a focus on educating the next generation on financial literacy.

Financial Literacy 59

Financial Literacy Visa Accounts 59

The Paypers

OCTOBER 14, 2024

Alternative Airlines , a flight search and booking platform, has announced its partnership with Triple-A , a licensed digital currency payment provider.

Digital Currency 72

Digital Currency Payments 72

Finextra

OCTOBER 14, 2024

Credit Referencing Agency AperiData has released a real-time open banking credit score to help lenders more accurately guage the ability of applicants with limited credit history to repay their debt.

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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