Thu.Feb 15, 2024

article thumbnail

Ledger: Stripe’s system for tracking and validating money movement

Stripe

In this blog post, we’ll share technical details on how we built this state-of-the-art money movement tracking system, and describe how teams at Stripe interact with the data quality metrics that underlie our payment processing network.

Process 143
article thumbnail

Navigating the Future of Cross-Border Payments: Innovations and Challenges

Finextra

In an increasingly interconnected global economy, cross-border payments play a crucial role in facil.

article thumbnail

BNPL popularity rises among ‘financially fragile’ consumers

Payments Dive

About 60% of that group has used BNPL five or more times in the past year, compared to just over 20% of financially stable consumers, the New York Fed said.

BNPL 113
article thumbnail

Nigeria's Carbon buys Vella Finance for AI-powered business banking

Finextra

Nigerian digital bank Carbon has acquired Vella Finance for the launch of an AI-powered platform for SMEs. Financial terms were not disclosed.

AI 114
article thumbnail

The Evolving Retailers Fulfillment Strategy: Meeting Demands with Agility

Speaker: Becky Parisotto

Fulfillment is no longer just about getting products from point A to point B – it's about crafting seamless, scalable, customer first experiences. Flexible fulfillment strategies are more important than ever for those aiming to stay ahead and build resilience as retail enters a new era in 2025. Learn how to optimize fulfillment processes, tackle complex, multi-vendor orders, and create seamless customer experiences – from white-glove delivery for high-value items to quick-ship solutions for ever

article thumbnail

Fintech Poised for Greater Innovation and Consolidation in 2024

Fintech News

2024 is expected to be a year of innovation for the fintech industry, marked by advancements in artificial intelligence (AI), cross-border and real-time payments, cryptocurrency and blockchain, and bundled software-as-a-service (SaaS) offerings. At the same time, the sector is anticipated to witness a massive wave of consolidation as attractive capital continues to lack, forcing many firms to seek outcomes such as acquisition or closure, partners and advisors of venture capital (VC) firm Lightsp

More Trending

article thumbnail

Crypto Crime Drops 39% But Challenges Persist, Including Ransomware Attacks, Transactions with Sanctioned Entities

Fintech News

In 2023, the value received by illicit cryptocurrency addresses amounted to US$24.2 billion, representing a 39% year-over-year (YoY) decline from US$39.6 billion in 2022, new data released by blockchain analysis firm Chainalysis reveal. Despite the notable drop and improvements, the prominence of sanction-related transactions and the growth of ransomware attacks remain key challenges for the industry to tackle.

article thumbnail

Revolut launches AI-based scam detection feature

Finextra

Revolut has launched an AI-powered anti-scam feature to protect customers from falling victim to authorised push payment fraud.

Scams 100
article thumbnail

Global Payments may pare operations

Payments Dive

While there has been industry speculation about the company making an acquisition, CEO Cameron Bready was more ready to talk “pruning” this week.

article thumbnail

US sanctions firms for providing tech to Central Bank of Iran

Finextra

The United States has imposed sanctions on several companies and individuals for smuggling technology to the Central Bank of Iran (CBI).

article thumbnail

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

article thumbnail

Empowering inclusion: Accessible payments

The Payments Association

Making payments more accessible for everyone makes sense on several levels, ranging from helping to transform our society into a better and fairer one, to improving business efficiencies and operations. Being able to pay and use banking services without additional requirements or barriers impacts everyday life in many ways, from shopping to transport and access to work and social situations.

article thumbnail

ISV vs PayFac: The Similarities and Differences Between Independent Software Vendors and Payment Facilitators

Stax

The world is increasingly moving towards becoming cashless and there are numbers to prove it. According to the Pew Research Institute , in 2022, a whopping 41% of Americans said they don’t use cash at all for any of their weekly purchases—a significant jump from 29% in 2018. FIS Global reports that in Norway, Sweden, and other Scandinavian countries, more than 90% of transactions processed at point-of-sale (POS) in 2023 were cashless.

ISVS 88
article thumbnail

PAYSTRAX: Doing Payments Better, Quicker and at Scale

The Payments Association

The founders of PAYSTRAX have decades of experience in the payments industry. In the past, they worked with internal software development teams who spent most of their time keeping up with connection updates, legislations, and regulations. One of PAYSTRAX’s primary goals was to onboard merchants as quickly as possible to become profitable. To achieve this, they needed a reliable and scalable white label platform partner with a strong API to quickly incorporate new partners and payment types into

article thumbnail

Total Processing Volume (TPV): Why It Matters

Basis Theory

Total processing volume (also known as total payment volume , or TPV) is the sum of all payments passed through a specific payment processor over a given period of time for a business. For instance, a company that processed $20M through Stripe and $40M through Adyen during the year 2023 would be said to have a $20M TPV with Stripe and a $40M TPV with Adyen.

Volume 88
article thumbnail

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?

article thumbnail

Unpacking Cross-Border Trade and Supply Payments for Singapore SMEs

Fintech News

In an increasingly globalised marketplace, small and medium-sized enterprises (SMEs) in Singapore are recognising the imperative need to expand beyond domestic confines, aspiring to capture international markets and forge global supply chains. This ambition, however, hinges on the capability to execute seamless cross-border transactions — a theme extensively explored in Mastercard’s Borderless Payments Report 2023.

article thumbnail

Cash App takes on Apple with a 4.5% APY for Savings Accounts (with direct deposit)

TechCrunch Fintech

Apple’s recent move to boost the interest rate for its Apple Card Savings Account to 4.5% is now prompting a competitor to do the same. Cash App today announced it will now offer “up to” a 4.5% APY (annual percentage yield) for its Cash App Savings customers, with a few caveats. While Apple’s Savings account […] © 2024 TechCrunch.

article thumbnail

Viva Wallet acquisition turns sour for JPMorgan as lawsuits filed

Finextra

Lawsuits are flying between JPMorgan and Viva Wallet, the European cross-border payments platform in which the US bank acquired a 49% stake last year.

article thumbnail

Data breach a risk despite security spend, experts say

Bank Automation

Financial institutions prioritize investment in cybersecurity technology but no matter how much they spend for protection, their systems and data remain vulnerable. “You could never say any organization is 100% secure and they’ll never be hacked,” Ray Kelly, fellow at cybersecurity company Synopsys Software Integrity Group, told Bank Automation News, noting that even the U.S.

article thumbnail

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

article thumbnail

From Paper Checks to FinTech: How to Streamline Your B2B Payments

Evolve Payment

Table of Contents Accelerating Accounts Receivable With B2B Payments Technology The days of cumbersome paper checks and out-of-PCI compliance snail-mail invoices are fading into the rearview mirror. An industry survey by the Association for Financial Professionals (AFP) found that check usage for business-to-business (B2B) payments declined to an all-time low of 33% in 2022.

B2B 81
article thumbnail

Southeast Asia: Fintech Holds Strong Despite Tech Investment Pullback

Fintech News

Aligning with global trends, Southeast Asian tech investments recorded a considerable decline in 2023, influenced by increasing interest rates, high inflation and supply chain disruption. Despite the notable pullback, fintech continued to see traction from investors, with digital lending in particular witnessing an uptake. New reports released by Cento Ventures , a Singapore-based venture capital (VC) firm focused on technology startups, and Tracxn , a market intelligence platform, explore the s

FinTech 80
article thumbnail

Temenos sheds $2 Billion as Hindenburg finds latest short target

Bank Automation

Temenos AG plunged by nearly a third, slashing its market value by $2.1 billion, after Hindenburg Research took a short position and suggested serious flaws in the books of the Swiss provider of software for banks. The Swiss company denied the report, saying it contained “factual inaccuracies and analytical errors, together with false and misleading allegations.

article thumbnail

Same-day payments drive ACH increase: Nacha

Payments Dive

Peer-to-peer transactions also contributed to a 4.8% increase in payments volume for the ACH Network last year over 2022.

ACH 78
article thumbnail

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.

article thumbnail

NCR drives self-service banking

Bank Automation

NCR Atleos reported that its self-service banking business continued to grow in the fourth quarter. NCR added more than 2,000 ATMs in the quarter, making the total number of active units 20,000, Chief Executive Tim Oliver said during NCR’s Q4 earnings call on Feb. 14.

ATM 75
article thumbnail

Industry Voices That “BNPL Is Definitely Not a Dying Trend” as Hype Remains

The Fintech Times

Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. Buy now pay later (BNPL) has certainly taken the paytech world by storm. We previously discussed if the technology would be able to surpass credit cards due to its popularity.

BNPL 75
article thumbnail

Contactless Convenience: A Look At the Trends Shaping the Payments Industry in 2024

Finextra

As digital innovations reshape customer expectations around transactions, the payments ecosystem is.

article thumbnail

India’s UPI Expansion Signals Global Leadership in Digital Payments: FXC Report

The Fintech Times

A report by FXC Intelligence has highlighted the significant impact of India’s Unified Payments Interface (UPI) on cross-border payments, signaling the country’s emergence as a global economic leader and a frontrunner in digital payments innovation. UPI grew by 900 per cent in 2017 compared to the previous year and has since been rapidly adopted across India, with 117.6 billion transactions worth INR182trillion in 2023 alone.

article thumbnail

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.

article thumbnail

Ripple announces to acquire Standard Custody & Trust Company

The Paypers

US-based crypto solutions company Ripple has agreed to acquire Standard Custody & Trust Company , an enterprise-grade regulated platform for digital-assets.

article thumbnail

‘Transformative’ or ‘Tough’: What Sort of Year Will BNPL Have in 2024?

The Fintech Times

Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. While buy now, pay later (BNPL) has enjoyed significant growth in recent years, an air of uncertainty remains around the space – whether that be due to a degree of untrust (seen by some as a debt trap ) or because of increased regulatory pressures being placed on the space.

BNPL 69
article thumbnail

Apple extends prepaid debit card reach

Payments Dive

Adding a virtual card number feature “is about giving options to consumers when retailers do not support Apple Pay,” Creative Strategies President Carolina Milanesi said.