Payments Dive
JULY 3, 2024
The Consumer Financial Protection Bureau has long wanted buy now, pay later loans to be listed on consumer’s credit reports. So why didn’t it include that in a March rule for the industry?
Fintech News
JULY 3, 2024
The Siam Commercial Bank (SCB) is set to modernise its core banking system through a new partnership with Sunline , a global provider of banking technology services. This is said to be SCB’s first IT architecture revamp in over a decade. This collaboration aims to enhance SCB’s IT architecture, improving financial transaction processing for deposits and loans with better efficiency, stability, security, and scalability to meet increasing transaction volumes.
Payments Dive
JULY 3, 2024
The tech company, whose tools are used by numerous stores, cut employees in its sales, engineering, professional services, data and product management teams last week.
The Fintech Times
JULY 3, 2024
With the next general election imminent in the UK, reports suggest that the Labour Party have drafted plans to force tech firms to reimburse victims of fraud originating on their platforms, in an effort to combat the growing threat of authorised push payment (APP) fraud. Polls indicating voting intention across the UK continue to suggest opposition party Labour is far out in the lead just one day before voters submit their ballot sheets.
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
Fintech News
JULY 3, 2024
The Bank for International Settlements (BIS) and its partners have revealed the comprehensive blueprint for phase three of Project Nexus, which seeks to address longstanding challenges in international money transfers by leveraging the power of domestic instant payment systems (IPS). The ambitious initiative is targeting to transform cross-border payments in Southeast Asia (ASEAN) initially, before the broader Asia Pacific (APAC) region and, eventually, the world.
Fintech Finance
JULY 3, 2024
Pleo , one of Europe’s leading spend management platforms, is celebrating another year of triple digit SaaS growth, leading to group revenue increase of over 50% for FY23. This growth was fuelled largely by a surge in its customer base up 39% from the previous year, reaching to date, over 33,000 active companies. The number of active users also saw an increase of 37% compared year on year.
Payments Space brings together the best content for payment processing professionals from the widest variety of industry thought leaders.
Finextra
JULY 3, 2024
Mizuho Financial Group is testing a generative AI application from IBM to help speed up recovery time from IT outages.
Fintech Finance
JULY 3, 2024
Zimpler , a leader in instant payment solutions, today announced a new technical partnership set-up with Swish , Sweden’s most used payment app. This collaboration will provide Zimpler’s merchants with an optimized payment solution combining the strengths of Zimpler’s account-to-account (A2A) payments and Swish’s seamless transaction capabilities.
Fintech News
JULY 3, 2024
Indonesian digital bank Superbank has announced an additional funding of IDR 1.2 trillion (US$73.3 million) from its shareholders, Grab, Singtel, and KakaoBank. This funding aims to support Superbank’s efforts in enhancing services and innovating products to cater to the diverse financial needs and lifestyles of its customers. Recently, Superbank became the first bank in Indonesia to enable millions of Grab users and partners to open accounts, save, and make payments directly through the G
Fintech Finance
JULY 3, 2024
European Payments Initiative (EPI) , a European-grown player committed to offering a sovereign payment solution to all consumers on the continent, has announced the launch of its mobile-first wallet and instant account-to-account payment solution, wero , for customers of German Sparkassen and Volksbanken, Raiffeisenbanken. Deutsche Bank will launch wero later this year starting with Postbank at the end of summer.
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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?
Fintech News
JULY 3, 2024
In the heart of Southeast Asia, a small island nation is making giant strides in digital currencies. Singapore, long known for its financial prowess and technological innovation, has emerged as an unexpected leader in cryptocurrency adoption. With 24.4 percent of its population owning digital assets, the city-state isn’t just participating in the crypto revolution—it’s leading it.
Fintech Finance
JULY 3, 2024
AutoRek , a leading insurtech that streamlines premium processing operations within insurance firms, today announced that it has joined forces with J.P. Morgan Payments to help insurance firms overcome data complexities and present new market opportunities. The AutoRek solution brings order and efficiency to financial data flows from banking sources, to help clients overcome the challenges associated with cash allocation, matching and credit control.
NFCW
JULY 3, 2024
The apparel industry alone will be responsible for issuing more than 62.5bn Digital Product Passports a year by 2030, ABI Research predicts, generating annual revenues of US$1.59bn for suppliers of supporting IT and software. “The European Union is leading the way with Digital Product Passports (DPPs) to provide comprehensive product data across the value chain,” ABI says. “High-impact sectors like batteries, vehicles, textiles, electronics, furniture, plastics, construction, a
Fintech Finance
JULY 3, 2024
Lenovo , the global technology powerhouse, is launching a new Open Banking at checkout service for its customers in the UK and continental Europe. The checkout technology will be provided by Trustly , the global leader in open banking payments. Lenovo is offering the new technology to its customers as a quick, easy, and safe way to pay. The service will provide customers with an alternative payment method that is less vulnerable to fraud, compared to other forms of payment such as credit or debi
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
NFCW
JULY 3, 2024
OPEN PAYMENT: Venice public transport users can use contactless cards to pay for their fares Visitors to Venice can now use a contactless debit or credit card to pay for fares on any of the city’s public transportation services, including water buses, speedboats, motorboats, ferries, buses and trams. “The new EMV (Europay, Mastercard and Visa) open payment system allows passengers to pay with contactless credit and debit cards, offering easier access to AVM’s local public transport s
Fintech Finance
JULY 3, 2024
Mollie , one of Europe’s fastest growing financial service providers, is joining forces with Buy Now, Pay Later (BNPL) provider Riverty , supported by Bertelsmann, one of the largest and most financially stable media companies in the world. Mollie customers now have an additional option to pay afterwards, with a payment period of up to 30 days.
Bank Automation
JULY 3, 2024
Hudson, Mass.-based bank Avidia Bank has selected digital banking service provider Q2 to improve its digital banking capabilities. The $2.5 billion bank will also tap data-driven personalization fintech Personetics’ AI-driven engagement platform through Q2’s platform, Avidia Chief Marketing Officer at Avidia Bank, Janel Maysonet told Bank Automation News.
Fintech Finance
JULY 3, 2024
Network International (Network) , the leading enabler of digital commerce across the Middle East and Africa (MEA) region, in partnership with NPCI International Payments Ltd. (NIPL), has enabled the acceptance of QR code-based Unified Payments Interface (UPI) payments across Network’s point-of-sale (POS) terminals in the UAE. The initiative will facilitate seamless transactions for Indian tourists across Network International’s vast merchant network in the UAE.
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.
Basis Theory
JULY 3, 2024
What are Merchant Category Codes? A Merchant Category Code (MCC) is a four-digit number used to categorize merchants based on the merchant’s business activities and products or services being sold.
Fintech Finance
JULY 3, 2024
PayPoint today announces a call to arms for Group 2 Payment Service Providers (“PSP”) yet to implement the Confirmation of Payee (CoP) service ahead of the mandated deadline of 31 October 2024, to take action now. CoP is an account name-checking service designed to help reduce misdirected payments and provide greater assurance that they are being sent, and collected from, the intended account holder.
Finextra
JULY 3, 2024
National Australia Bank is exploring the use of biometric tracking of keystrokes and phone handling as part of a suite of initiatives to clamp down on fraudulent payments.
Fintech Finance
JULY 3, 2024
Paymentology , the leading global issuer-processor, today announces the appointment of Stephen Bowe as Chief Product Officer. With over 15 years of experience in banking and payments Stephen joins Paymentology’s leadership team to build on the company’s success by driving further innovation in the company’s payment products. He will expand Paymentology’s next-generation payments infrastructure, focusing on seamless API integrations to simplify complex payment solutions.
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.
Finextra
JULY 3, 2024
At EBAday 2024, Lilia Christofi, EMEA Banking Leader, Microsoft, explores the potential risks associated with implementing AI in the financial services industry, but also the role that the technology can play in shaping the bank of the future. Financial institutions need to ensure that they are leading across AI adoption to mitigate any potential risks that may emerge.
Fintech News
JULY 3, 2024
Mitsubishi UFJ Financial Group Inc.’s (MUFG) plans to acquire a stake in HDFC Bank Ltd.’s consumer lending arm, HDB Financial Services Ltd., have hit a snag due to disagreements over the Japanese lender’s influence on business strategy, according to Bloomberg. Earlier this year, MUFG was reportedly eyeing a 20% stake in HDBF for approximately US$1.7 billion.
Finextra
JULY 3, 2024
At EBAday 2024, Nuria Mohedas, Head of Payments and Digital Banking, Cecabank and Julio César Fernández, Head of Business Development and Operations Support, Cecabank, share their opinion on the new European Instant Payments regulation. Join Cecabank as they explore the evolution of cash in Europe and the dive deep into what influence the new Digital Euro project could have, particularly in light of new regulations like PSR.
Finezza
JULY 3, 2024
Credit risk continues to remain one of the areas of concern for a majority of traditional and new-age lenders. The reasons for this are varied. For example, macroeconomic fluctuations, such as political conflict, recessions, or market instability, can lead to higher default rates. Additionally, new-age lenders often cater to underserved or high-risk segments, increasing the […] The post Understanding the Different Types of Credit Risk appeared first on Finezza Blog.
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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.
Finextra
JULY 3, 2024
MUFG and the Finnoventure Private Equity Trust I fund have invested $195 million in Thailand-based fintech unicorn Ascend Money.
Finovate
JULY 3, 2024
“A little better all the time?” Can we use that classic refrain from Lennon & McCarthy to describe the performance of fintech companies seeking funding in the second quarter of 2024? Most broad-based surveys of fintech funding for Q2 2024 have yet to be published. But, for our Finovate alums, “a little better” aptly describes the difference between Q2 of this year and Q2 of last.
Finextra
JULY 3, 2024
Germany's Giesecke+Devrient (G+D) has unveiled a token-based system for secure offline payments.
The Fintech Times
JULY 3, 2024
Klarna , the AI-powered global payments network and shopping assistant, is partnering with Adobe Commerce to enable merchants to easily implement Klarna’s Buy Now Pay Later (BNPL) services and other flexible payment options. Klarna hopes the partnership with Adobe will enable it to not only increase the number of payment options for consumers but also make buying goods and services from these merchants more attractive, boosting profit margins.
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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.
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