Payments Dive

OCTOBER 24, 2024

Regulators and industry participants worry that FDX will have an unfair monopoly and will advantage its own members if no other organization applies.

Participant 147

Participant Regulations 147

Finextra

OCTOBER 24, 2024

At Sibos 2024, Angie Walker, Global Head of Banking and Capital Markets, Chainlink Labs, explored the topics of blockchain and tokenisation and how they are transforming the existing world as well as how the technology creates opportunities for the future. While historically, across money market and fixed income funds, high quality liquid assets have not been able to be moved, with tokenisation, these funds can be migrated seamlessly and instantaneously on the ledger.

Use Case 139

Use Case Interoperability Blockchain Finance 139

Bank Automation

OCTOBER 24, 2024

Generative AI allows banks to analyze unstructured data, which makes up about 80% of all data within financial institutions — a capability not possible just two years ago. Unstructured data includes emails, audio, video, contractual information and more, Prag Sharma, global head of artificial intelligence for Citi’s center of excellence, said during FinTech Futures Oct. […] The post Gen AI boosts analysis of unstructured data appeared first on Bank Automation News.

AI 111

AI Automation FinTech Posting 111

Finextra

OCTOBER 24, 2024

The European Central bank is implementing a cross-currency settlement service on the Eurosystem's Target Instant Payment Settlement (Tips) service.

Instant Payments 129

Instant Payments Settlement Central Bank Payments 129

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

Bank Automation

OCTOBER 24, 2024

IBM’s generative AI business climbed more than $1 billion in the third quarter, reaching $3 billion as clients invest in the tech. “Clients are reprioritizing their IT budgets to prepare for generative AI,” IBM Chief Financial Officer James Kavanaugh said during the company’s Q3 earnings call on Oct. 23. NatWest, for one, announced an […] The post IBM gen AI business reaches $3B in Q3 appeared first on Bank Automation News.

AI 110

AI Automation Posting 110

Finextra

OCTOBER 24, 2024

The European Central bank is implementing a cross-currency settlement service on the Eurosystem's Target Instant Payment Settlement (Tips) service.

Instant Payments 119

Instant Payments Settlement Central Bank Payments 119

Payments Next

OCTOBER 24, 2024

By Harald Walden, CTO, Brite Payments For financial institutions (FIs), the rising threat of fraud makes exploring and adopting more robust fraud detection The post Can Pay by Bank Solve the $41 Billion Card Fraud Crisis? first appeared on Payments NEXT.

Fraud Detection 88

Fraud Detection Posting Payments Credit Cards 88

The Payments Association

OCTOBER 24, 2024

Chargeback abuse costs billions, but merchants can reduce fraud with proactive strategies like customer engagement and better security Imagine you’re an ecommerce merchant accepting credit and debit cards, diligently following legal and network guidelines. Yet, despite your efforts, you’re suddenly hit with an expensive chargeback. Chargebacks were introduced in 1974 under the Fair Credit Billing Act to protect consumers from fraud, billing errors, and non-delivery of goods.

Disputes 88

Disputes Non-Bank MFA Legal 88

Fintech Finance

OCTOBER 24, 2024

Dwolla , a leading U.S.-based account-to-account (A2A) payment solution provider, today announced an expanded partnership with Plaid , a data network powering the digital financial ecosystem. Set to go live in early 2025, this premiere payments solution will integrate Plaid’s instant account verification (IAV) and network-powered risk assessment capabilities into Dwolla’s pay by bank platform.

Risk Assessment 104

Risk Assessment Payment APIs and Integration Verification Assessments 104

Payments Dive

OCTOBER 24, 2024

U.S. payments associations urged the World Bank this week to consider interoperability and private sector involvement in its development of a digital public infrastructure.

Interoperability 88

Interoperability Payments 88

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Use Case

Fintech Finance

OCTOBER 24, 2024

Worldline [Euronext: WLN], a global leader in payment services, has announced plans to collaborate with Visa Acceptance Solutions, to launch an optimized fraud management solution. The relationship leverages both companies’ extensive transactional data and expertise, augmenting Worldline’s payment services with Cybersource Decision Manager solution to provide businesses with powerful fraud detection across industries.

Fraud Detection 103

Fraud Detection Payment APIs and Integration Fraud Prevention Value Added Service 103

Basis Theory

OCTOBER 24, 2024

Many PCI requirements will move from “best practice” to “required” in March 2025. This post discusses some of the most impactful new requirements.

Best Practices 88

Best Practices Posting Compliance Payments 88

Fintech Finance

OCTOBER 24, 2024

DailyPay, Inc. , a worktech company and leading provider of earned wage access, today announced it has secured an additional $100 million commitment to its secured credit facility capacity from Citi. The additional commitment doubles Citi’s commitment from $100 million to $200 million. DailyPay’s total revolving secured debt facility commitment now stands at $760 million which includes $500 million from Barclays, $200 million from Citi, and $60 million from TPG Angelo Gordon.

Security 100

Security Small Business Finance Product 100

The Fintech Times

OCTOBER 24, 2024

Hubpay , a fintech specialising in digital foreign exchange (FX) solutions, has launched the UAE’s first fully automated hedging platform, in a move to minimise SMEs’ exposure to currency fluctuations. With as much as 60 per cent of small businesses experiencing cash flow issues at some point in their operations, the new Hubpay forward contract FX service from Hubpay enables SMEs to lock in future exchange rates with just a five per cent deposit of the overall notional value.

Security 74

Security Mitigation Volume Automation 74

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 Finance

OCTOBER 24, 2024

FinMont , a global payment orchestration platform, today announced a strategic partnership with The Payments Group (TPG), a leading payment solution provider. This collaboration aims to enhance FinMont’s payment ecosystem by integrating TPG’s innovative cash and evoucher payment solutions, offering more flexibility and improved payment capabilities for FinMont’s global network of travel industry merchants.

Payments 99

Payments B2C Payment Solutions Global Payments 99

Finextra

OCTOBER 24, 2024

After a launch in Latin America earlier this year, Mastercard has brought its Product Express platform to a host of new markets, enabling fintechs to roll out a card programme in a matter of days.

Visa 72

Visa FinTech Product 72

Fintech Finance

OCTOBER 24, 2024

Ebury , the global financial technology firm, is delighted to announce its new partnership with the renowned Premier League Southampton Football Club for the 2024-2025 season. The latest partnership adds to Ebury’s growing global sports portfolio which includes Rangers, PSV Eindhoven and AS Monaco. Ebury will be supporting the club through its expertise in global financial operations and will also share its expertise with the wider Hampshire SME community.

Risk Management 98

Risk Management International Payments Facilitators Risk 98

The Paypers

OCTOBER 24, 2024

A survey conducted by Intix has shown that banks are facing challenges in meeting the EU's impending deadlines for mandatory instant credit transfers.

Instant Payments 87

Instant Payments Regulations Payments 87

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 Finance

OCTOBER 24, 2024

Ahead of Money20/20 US, Visa , a global leader in digital payments, today published the State of Scams: Fall 2024 Biannual Threats Report. The latest edition of the report brings to light several emerging threats and scams targeting banks and consumers, including a surprising resurgence of small-scale physical crime. “Visa invested $11 billion dollars in technology and infrastructure in the past five years, and our network is more secure than ever,” said Paul Fabara, Chief Risk and Client Servic

Scams 97

Scams Ransomware Government Governance 97

Electronic Payments Coalition

OCTOBER 24, 2024

Supporters of the Durbin-Marshall Credit Card Bill’s new mandates have consistently tried to blame credit card processing costs for driving up inflation. However, this claim fails to align with the facts as credit card interchange rates have remained virtually flat for nearly a decade. Copied below is the latest EPC one-pager setting the record straight about how corporate mega-stores continue to raise prices on everyday goods while the average credit card interchange rate has remained at 1.8%.

Credit Cards 69

Credit Cards Processing Costs Continuity Process 69

Fintech Finance

OCTOBER 24, 2024

Open banking adoption is on the rise and gaining momentum — but its development is at a pivotal point if the technology is to reach true ubiquity, according to a new report released by consultancy 11:FS and bank payment company GoCardless. Through a survey of nearly 1,000 UK businesses, the study reveals that almost a quarter (23%) say they are ‘very familiar’ with open banking.

Technology 97

Technology Ubiquitous Blocks On-Demand 97

Finextra

OCTOBER 24, 2024

In an interview with FinextraTV in the lead-up to Sibos 2024 in Beijing, China, Peter Reynolds, Executive Vice President Real Time Payments, Mastercard, highlights how 2024 has welcomed a new era with 100 countries now with live real time payments systems, covering 87% of the world’s GDP. Exploring the substantial growth across account-to-account payments and the conversion of cash to digital payments, the interview examines how the financial ecosystem is opening with digital wallet payments, QR

Real Time Payments 69

Real Time Payments Interoperability Innovation Payments 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

Fintech Finance

OCTOBER 24, 2024

Merchants, payment service providers (PSPs) and third-party providers (TPPs) recognise the potential of Commercial Variable Recurring Payments (CVRP, in the UK) and Dynamic Recurring Payments (DRP, in Europe) to deliver better payment experiences, more choice, and lower processing costs. There are real concerns, however, that lack of bank support is impeding their delivery.

Risk 97

Risk Use Case Payments Debit Card 97

The Paypers

OCTOBER 24, 2024

The Bank Policy Institute and Kentucky Bankers Association have filled a lawsuit against CFPB for jeopardising customers’ privacy and account security with its new rule.

CFPB 74

CFPB Privacy Rules Accounts 74

Fintech Finance

OCTOBER 24, 2024

Capital on Tap has announced the launch of Pro, its new premium tier tailored specifically for small business owners in the UK. For just £299 per year, Pro members will enjoy a host of exclusive benefits, setting a new standard in the business credit card industry. With Pro, members gain unlimited lounge access worldwide, allowing relaxation at over 1,600 airport lounges with Priority Pass , and two free guest passes each year.

Small Business 97

Small Business Credit Cards Finance Innovation 97

Finovate

OCTOBER 24, 2024

Socure has acquired risk decisioning company Effectiv for $136 million Socure will integrate Effectiv’s AI-powered orchestration platform into its digital identity verification and fraud solutions. The acquisition will enable Socure to enhance fraud prevention, automate identity verification, and manage risk across onboarding, authentication, payments, account changes, and more.

Risk 64

Risk Acquirers Fraud Prevention Identity Theft 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

Fintech Finance

OCTOBER 24, 2024

JazzCash , the fintech arm of Pakistan’s leading digital operator Jazz, a VEON Group company, has received the ‘Pioneering Telco to Launch Tap on Phone’ award at the Mastercard Payment Leaders Awards. The ceremony was held on the sidelines of the Mastercard EDGE 2024 event in Dubai. The award recognizes JazzCash’s innovative approach, the first of its kind globally, allowing over 350,000 merchants and businesses to accept payments from contactless cards or smartphones with a simple tap on an NFC

Visa 97

Visa Point-of-Sale (POS) Economy Digital Payments 97

Finextra

OCTOBER 24, 2024

Full-stack payment processor Finix has raised $75 million in Series C funding round led by by Acrew Capital and joined by Citi Ventures.

Processors 72

Processors Payments 72

Fintech Finance

OCTOBER 24, 2024

Klarna , the AI powered global payments network and shopping destination, has partnered with Blackhawk Network (BHN), a leading global branded payments provider, to launch Klarna’s Gift Card Store in the UK. This gives customers the ability to buy gift cards from an extensive selection of brands and pay for them using Klarna’s range of Buy Now, Pay Later (BNPL) products and instant debit option, Pay Now.

BNPL 96

BNPL Payment Networks AI Global Payments 96

Finextra

OCTOBER 24, 2024

Klarna is teaming up with Blackhawk Network to launch the UK's first buy now, pay later gift card store

BNPL 78

BNPL 78

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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