NACHA

MARCH 17, 2024

HERNDON, Virginia, March 18, 2024 – Nacha members have approved a set of rules intended to reduce the incidence of frauds, such as business email compromise (BEC), that make use of credit-push payments. The new rules establish a base-level of ACH payment monitoring on all parties in the ACH Network (except consumers). While the new rules do not shift the liability for ACH payments, for the first time receiving financial institutions (RDFIs) will have a defined role in monitoring the ACH payments

Credit Push 120

Credit Push NACHA Nacha Rules Rules 120

Fintech News

MARCH 17, 2024

Japan and the Association of Southeast Asian Nations (ASEAN) are set to integrate their QR code payment systems by 2025, according to a Bernama report. Negotiations between Japan and ASEAN nations are ongoing, with both parties keen on implementing the QR code payment system soon. Five ASEAN countries, namely Singapore, Indonesia, Thailand, Malaysia, and the Philippines had previously signed a memorandum of understanding in 2022 which laid the groundwork for payment integration and set the stage

Central Bank 107

Central Bank Payments Facilitators Participant 107

Finextra

MARCH 17, 2024

Credit bureau TransUnion has unveiled a cloud-based AI-powered data and analytics platform for financial institutions.

AI 109

AI 109

Fintech News

MARCH 17, 2024

Private equity firm Advent International is engaged in advanced discussions to acquire Nuvei , a Canadian payments technology company, according to a source familiar with the matter. Nuvei, a processor of business transactions, made its public debut with a US$700 million initial offering in September 2020 – the largest technology IPO on the Toronto Stock Exchange at that time.

Request for Comment 98

Request for Comment Processors Acquirers Agreements 98

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

Finextra

MARCH 17, 2024

Cross-border payments play a vital role in the seamless operation of the international economy, and.

Cross-Border Payments 105

Cross-Border Payments Cross-Border Economy Payments 105

Fintech News

MARCH 17, 2024

The Monetary Authority of Singapore (MAS) is set to update its Guidelines on Fair Dealing within the coming weeks, signaling a major step towards enhancing customer protection across all financial sectors. Announced by Ho Hern Shin, Deputy Managing Director (Financial Supervision) at the Life Insurance Association (LIA) Annual Luncheon, the revised guidelines will extend to cover all financial institutions and the entire spectrum of financial products and services offered to customers.

Consumer Protection 88

Consumer Protection Consumer Underwriting Authorization 88

Fintech News

MARCH 17, 2024

Global crypto exchange Binance has officially spun off its venture capital and incubation arm – Binance Labs, as reported by The Block. Binance Labs, now standing independently, has adjusted its operational dynamics, ensuring that its staff contracts and organisational structure are distinctly separate from those of the crypto exchange. This model mirrors the operational setup of the Binance-supported BNB Chain project.

Settlement 81

Settlement Blocks Adjustments Cryptocurrency 81

Finextra

MARCH 17, 2024

Over the last few decades, banks have been forced to reconsider their business model for transaction services. During the era of low-interest rates, the focus shifted to transaction revenues, and while the pendulum is now pivoting back to utilising the balance sheet for revenue growth, the amount of new regulations impacting the industry is ever-increasing.

Regulations 52

Regulations Transactions Payments Technology 52