Thu.Apr 18, 2024

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Celebrating Innovation: Announcing the Winners of the Beelievers Awards- London Edition

Chargebee

Chargebee’s London-based user conference, beelieve, hummed with excitement as it united trailblazers and innovators from the subscription and revenue growth sector. A standout moment was the “beelievers” awards, honoring visionary leaders and organizations shaping the subscription landscape’s future. Let’s explore the winners in each category, highlighting their exceptional contributions to efficiency, transformation, retention, revenue growth, and leadership.

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Mastercard launches virtual card app to simplify travel and business expenses

Finextra

HSBC Australia and Westpac have signed on as the first banks to offer a new Mastercard app that enables virtual commercial cards to be added to digital wallets.

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Understanding Credit Card Processing Fees for Merchants: How Much Does Processing Credit Cards Cost?

Stax

Accepting credit card transactions is no longer a decision of whether to but rather how to. With cashless now BEING king, credit and debit cards are the primary method for your customers to make payments. Pre-pandemic, 62.3% of consumer payments came through card payments. And electronic payments were at 14.2%, closing in on cash at 15.5%. While the figures aren’t from the COVID-affected spending period, it’s fair to assume that cash is down while cards and electronic payments are w

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Police bust cybercrime phishing subscription network

Finextra

Police have arrested 37 members of a criminal gang that operated a phish-for-subcription Website that duped up to 70,000 UK victims into entering their bank details at fraudulent internet sites.

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From Start to Scale: Driving Growth Through Seamless Payments Implementation

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

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Mobile Credit Card Processing Explained: What Business Owners Need to Know

Stax

According to Forbes , “mobile payments are increasingly being used by U.S. shoppers as customers become more comfortable with the technology.” Not only are there a number of ways your customers could be using their mobile devices to give payments, but you as a business owner could be leveraging mobile devices to accept them as well. As stated by countless resources, mobile is the direction the payment technology space is heading.

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Brankas Claims to Be First to Secure Open Banking Data License in Indonesia

Fintech News

Southeast Asian open finance platform Brankas has reportedly become the first company in Indonesia to obtain a Payment Service Provider (PJP) Category 2 license for Account Information Services (AInS) from Bank Indonesia. This license allows Brankas to offer enhanced transparency in payment transactions, providing businesses and their customers with real-time visibility into account balances during transactions.

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What to Know About Visa’s 2024 Interchange Rate Updates

Evolve Payment

Table of Contents Understanding the Latest Changes to Visa Interchange Rates At Evolve Payment, we strive to keep you informed about crucial developments in the payment industry. Today, we’re bringing to your attention important updates regarding the Visa Interchange Program and Rate changes that went into effect on April 12, 2024. Just as the tide ebbs and flows, so too do the intricacies of the payment processing industry.

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Discover adds $799M to bolster reserves

Payments Dive

The card network opted to increase the card misclassification remediation reserve, based in part on discussions with regulators, executives said Thursday.

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RPA does job of 500 people at KeyBank

Bank Automation

KeyBank is using robotic process automation to boost efficiency without hiring more people. The $189 billion bank has about 300 processes automated through (RPA), Michael Reynolds, business technology executive for service digitization, said last month at Bank Automation Summit 2024 in Nashville, Tenn. “Translate that into people.

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Klarna overhauls credit card features

Payments Dive

The Swedish buy now, pay later pioneer revised its approach to credit cards in the U.S. market, ditching a more expensive version it touted two years ago.

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15 Modern Use Cases for Enterprise Business Intelligence

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?

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Save the Planet — Automate Your Accounts Receivable [Infographic]

BlueSnap

This Earth Day, BlueSnap wants businesses to understand the impact manual accounts receivable can have on the environment — not to mention cash flow. Check out this infographic to learn about the paper waste and carbon emissions associated with manual AR and invoicing, and why accounts receivable automation is a really good idea. The post Save the Planet — Automate Your Accounts Receivable [Infographic] appeared first on BlueSnap.

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Ally launches digital products in first quarter

Bank Automation

Ally Financial invested in its digital product strategy, which continues to boost customer retention rates. “We have expanded our products and features to deepen customer relationships, including Ally Home and Ally Invest,” Interim Chief Executive Doug Timmerman said today during the bank’s first-quarter earnings call.

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Revolut valuation raised 45% by investor

Finextra

With its valuation raised 45% by an investor, UK-based fintech Revolut is pumping $100 million into Mexico as it seeks to cash in on the lucrative Latin American remittance market.

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SC Ventures Backs Algbra and Sustainable Financing With Latest Investment

The Fintech Times

Standard Chartered ’s innovation, fintech investment and ventures arm, SC Ventures, has strategically invested in Algbra , an ethical finance-focused and sharia-compliant UK-based fintech. The move will also see Shoal, SC Ventures’ sustainable finance platform, partner with Algbra. Demand for sustainable and ethical finance continues to grow, with consumers seeking offerings to align their money with their personal ethics and values.

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eCommerce in 2025: How Customer Experience Drives Online Retail Success

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

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PayPal Ventures leads €18 million series A extension in Pliant

Finextra

PayPal Ventures has led an €18+ million Serie A extension for Berlin-based corporate card platform Pliant as it prepares for expansion into the UK.

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Behind the Idea: Acre

The Fintech Times

The financial upheaval of the previous year prompted numerous homebuyers to develop a heightened regard for mortgage brokers. Earlier this year, Acre, an intermediaries platforms for brokers, bagged £6.5million investment to grow its tech platform and to further its ambition to digitise the homebuying journey to buying. In this week’s Behind the Idea , we chat to Justus Brown , CEO and founder of Acre, discusses how the company is shaking up the mortgage and insurance advice process, aimin

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FinovateSpring 2024 Sneak Peek Series: Part 4

Finovate

A look at the companies demoing at FinovateSpring in San Francisco on May 21 and 22. Register today using this link and save 20%. Anvil – Document SDK Anvil – Document SDK is the fastest way to build software for documents. Features From data collection to document generation and e-signatures, Anvil – Document SDK provides a comprehensive solution that prepares organizations for the data-first, AI-driven world.

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Deloitte and 10x Banking Join Forces to Accelerate Digital Transformation

The Fintech Times

Deloitte has strengthened its commitment to innovation in the banking sectors as it partners with 10x Banking , the cloud-native SaaS core banking platform. Together, the firms will look to strengthen cooperation in delivering technology-enabled transformation to financial institutions globally. A series of 10x Banking Centres of Excellence is set to be rolled out in the US, UK and India to increase 10x capability within Deloitte.

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7 Essential Criteria for Choosing the Right Payments Partner

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.

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Bankjoy Teams Up with Account Activation Specialist Pinwheel

Finovate

Bankjoy, a digital banking provider for banks and credit unions, announced a partnership with Pinwheel this week. Bankjoy will help its more than 70 bank and credit union customers integrate Pinwheel’s digital deposit switching (DDS) solution, Pinwheel Prime. Pinwheel Prime has been credited with increasing direct deposit enrollment by 32%. Digital banking provider Bankjoy has partnered with Pinwheel to help financial institutions remove friction from the account activation process.

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Tribe Payments: Get on Your Marks For PSD3, PSR and FIDA

The Fintech Times

Banks, non-banks and fintechs have just one year to prepare for some of the biggest regulatory shake-ups to fundamentally impact the way they do business. Alex Reddish, managing director of Tribe Payments, delves into the intricacies of PSD3, PSR and FIDA – regulations set to reshape open banking, data access and security in the financial sector. Banks, non-banks and fintechs have just one year to prepare for some of the biggest regulatory shake-ups to fundamentally impact the way they do busine

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Cognizant and Fico pair up to fight real-time payments fraud

Finextra

Cognizant (NASDAQ: CTSH) announced today a planned collaboration with FICO, a leading analytics software company, to launch a cloud-based real-time payment fraud prevention solution powered by FICO® Falcon Fraud Manager.

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Monetary Authority of Singapore Commits S$35million to Sustainable Finance Upskilling Initiatives

The Fintech Times

The Monetary Authority of Singapore (MAS) has committed S$35million to upskill and reskill specialists in sustainable finance and has joined forces with the Institute of Banking and Finance (IBF), supported by Workforce Singapore (WSG), to launch a new Sustainable Finance Jobs Transformation Map (JTM). The new JTM lays out the impact of sustainability trends on jobs in the financial services sector in Singapore, as well as the emerging skills that the workforce will require to serve sustainable

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Loyalty 101: How To Turn Browsers Into Buyers For Lasting Engagement

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.

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Latvian fintech startup inGain raises EUR 650,000

Finextra

Latvian fintech startup inGain has announced that it has raised EUR 650,000 in funding from venture capital funds Trind VC and Fiedler Capital, as well as from the Latvian Business Angels network and several business angels.

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Third Time’s The Charm: Payments Canada Resumes Development of RTR Payments System

The Fintech Times

After two major delays, Payments Canada , an organisation that operates a payment clearing and settlement system in Canada, has resumed the development of the Real-Time Rail (RTR) payments system. The new system will allow payments to be sent and received as well as cleared and settled in real-time 24/7, 365 days a year. As a result of the new system, Canadians will have more control over their finances and be provided with greater confidence that payments have been finalised.

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WorldFirst unveils global sourcing payments product for B2B payments into China

Finextra

WorldFirst, a one-stop digital payment and financial services platform for global businesses, especially SMEs in international trade, has launched WorldTrade, a new payment solution for global sourcing to bolster the security and speed of cross-border payment for international Small and Medium-sized Enterprises (SMEs) that procure goods from suppliers based in China, while ensuring the prompt delivery of products for the SME buyers.

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Klarna and Milkywire Look to Close Biodiversity Funding Gap With Nature Transformation Fund

The Fintech Times

Klarna , the AI-powered global payments network and shopping assistant, has partnered with Milkywire , an environmental impact platform, to launch a new fund to open to tech and finance companies looking to invest directly in impactful projects to contribute to global biodiversity targets but don’t know where to start. Building on successful collaborative work supporting biodiversity, people, and climate projects over the past three years, Klarna and Milkywire now plan to open up the Nature Tran

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Enhance Customer Value: Unleash Your Data’s Potential

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.

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Wagestream raises £17.5m

Finextra

Financial wellbeing app Wagestream has raised £17.5 million in a funding round joined by a British Business Bank subsidiary.

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This Week in Fintech: TFT Bi-Weekly News Roundup 18/04

The Fintech Times

Welcome to The Fintech Times Bi-Weekly News Roundup on Thursday 18 April 2024 Funding and investments Wagestream, a financial benefits platform used by employers at Asda, Burger King, Bupa and Hilton, has raised a further £17.5million in funding from new and existing investors. Wagestream will use the latest funding to expand its range of services as well as to become a ‘complete financial platform’ for low and middle-income workers.

FinTech 59
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Canadian Securities Administrators on next step for real-time market data

Finextra

The Canadian Securities Administrators (CSA) today published Staff Notice 21-334 Next Steps to Facilitate Access to Real-Time Market Data (RTMD) which summarizes the comments received to the Consultation Paper published in November 2022, and advises stakeholders of the CSA’s next steps to address the access to and use of RTMD.

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Setup SimplyAP Integration Settings for ERP

Paymerang

This article will cover the steps to connect SimplyAP with Microsoft Dynamics 365 Business Central (BC) for both Online and On-premises installations. We will be populating the Integration Settings section in SimplyAP Administration with values generated using the steps in this article.

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Top Strategies to Future-Proof & Sustain Your Merchant Services Portfolio

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.