Wed.Mar 13, 2024

article thumbnail

JPMorgan plans major roll out of biometric payments

Finextra

JPMorgan Chase is planning a broad roll out of biometric payments with US retailers by early next year, enabling shoppers to make purchases by scanning their palms or faces.

Payments 133
article thumbnail

Klarna’s IPO prospects grab spotlight

Payments Dive

The BNPL provider’s CEO has suggested the company could IPO “quite soon,” but fintech investors expect the market will first want to see a stronger track record of profitability.

BNPL 103
article thumbnail

MPE 2024: What will be the impact of a digital euro?

Finextra

At the Merchant Payments Ecosystem 2024 conference in Berlin, Evelien Witlox from the European Central Bank (ECB) presented a keynote on the possibilities of a digital euro.

article thumbnail

Stripe’s growth continues to impress as total payment volume tops $1T

TechCrunch Fintech

The company says it was cash flow positive in 2023, and plans to be again in 2024. With $8.7 billion in venture capital it likely means it has little to no need to raise more before it goes public. © 2024 TechCrunch. All rights reserved. For personal use only.

Volume 113
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

MPE 2024: What does a smart city look like?

Finextra

In a keynote presentation at Merchant Payments Ecosystem 2024 in Berlin, Hemlata Narasimhan, president of Elavon explored what a smart city could look like in 2030, using Venice, Italy as a case study.

Payments 124
article thumbnail

4 Things Banks Need to Know about the EU AI Act Passed Today

Finovate

The EU Parliament approved the Artificial Intelligence (AI) Act today. Member states agreed upon the regulation in December 2023. Today, members of the European Parliament endorsed the act, with 523 voting in favor, 46 voting against, and 49 abstaining from the vote. It’s no secret that AI is a double-edged sword. For every positive use case, there are multiple ways humans can use the technology for nefarious purposes.

AI 111

More Trending

article thumbnail

Stripe passes $1 trillion in payments volume

Finextra

Stripe says that businesses running on its platform processed more than $1 trillion in 2023, up 25% on the previous year.

Volume 130
article thumbnail

“Big Bang” Bank Upgrades Spell Trouble, Mambu Makes Case for Incremental Change

Fintech News

Core banking systems serve as the backbone of financial operations and customer interactions for banks worldwide. They facilitate critical transactions like loan management, withdrawals, and deposits in real-time. However, maintaining such a system comes at a hefty cost. Financial institutions (FIs) are spending up to US$100 billion annually on technology to remain competitive.

APACS 109
article thumbnail

Rabobank and iDeal bid to smooth online payments

Finextra

Dutch payments firm iDeal has partnered Rabobank to pilot a feature that makes it easier to make purchases at online stores.

Payments 126
article thumbnail

Saladin Joins Forces with ZaloPay to Digitise Insurance Offerings

Fintech News

In a step towards digitising insurance services in Vietnam, Saladin Technology Insurance, under the auspices of 10X Consulting and Technology Co., Ltd., has formed a strategic partnership with ZION Joint Stock Company, creators of the ZaloPay e-wallet. This collaboration was formalised at a ceremony in Ho Chi Minh City on 29 February 2024. Following the collaboration’s inaugural success in 2023 with the introduction of the Payer Insurance product on the ZaloPay platform — a unique offering

Payer 107
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

Stripe reports payments volume increase

Payments Dive

The digital payments company processed $1 trillion in total payments volume last year, according to its annual letter released Wednesday.

Volume 97
article thumbnail

Singlife Unveils Upgraded Insurance Plans to Address Coverage Gaps

Fintech News

Homegrown digital-first insurer Singlife today announced the roll-out of two revised insurance plans: Singlife Elite Term II and Singlife Cancer Cover Plus II, aimed at enhancing the financial stability and peace of mind for the Singaporean populace. This initiative aims to address the changing protection needs and fills the gaps in coverage that many Singaporeans face.

article thumbnail

Best Practices for Measuring Results in Payments

Clearly Payments

In today’s business landscape, where competition is fierce and customer expectations are constantly evolving, the ability to measure and analyze performance is more critical than ever. This is particularly true in payment businesses , where efficiency, accuracy, and reliability are paramount. The importance of measurement extends beyond payment processing alone; it is a cornerstone of success for any growing business.

article thumbnail

Inypay Update Highlights Significant Growth and Plans for Regional Expansion

Fintech News

Inypay, a neo-bank headquartered in Singapore, recently took to LinkedIn to announce substantial progress in its initiatives to enhance financial accessibility across Southeast Asia. In a detailed update , the bank revealed the successful launch of its consumer and partner applications, INYPAY & INYPAY Partner, in Singapore. This introduction signifies a robust market entry, underscored by the implementation of an Early Payday program with over 20 local businesses.

CRM 96
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

Streamlining Reconciliation Management: Navigating Challenges and Embracing Automation

FloQast

In the world of accounting, the reconciliation process stands as a critical linchpin, ensuring the accuracy and integrity of financial data. As companies navigate complex financial landscapes, the need for streamlined reconciliation processes has never been more pronounced. Automation has emerged as a beacon of hope, promising to revolutionize traditional manual methods and alleviate the burdens accounting teams face.

article thumbnail

How can data analytics impact decision-making in the fintech industry?

Finextra

Data has become an essential driver for new monetisation initiatives in the fintech industry. Vast a.

FinTech 111
article thumbnail

PayPal, Mastercard add C-suite hires

Payments Dive

Payments firms are loading up on new C-suite hires this year as some in the industry build out new management teams.

PayPal 88
article thumbnail

It’s a sellers’ market(place)

Stripe

Today, the most innovative changes in marketplaces are about providing more value to sellers. Many of them hinge on the kind of financial infrastructure Stripe provides. We’ve found leading marketplaces increasingly ask us to support them with three main types of incentives for sellers: access to a global customer base, an easy onboarding experience, and financial tools like loans and spend cards available in the marketplace dashboard.

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

On the job with … Director of Innovation Management at Mastercard Foundry

Bank Automation

Mastercard Foundry, the innovation hub for product development at the card giant, is creating a new technology-focused position, as it continues its tech investment. The company’s operating expenses in 2023 increased 11% year over year to $11.1 billion, according to Mastercard’s Jan. 31 earnings presentation.

Visa 78
article thumbnail

How to Choose A Payment Provider

Basis Theory

In today’s digital, virtual world, there are vanishingly few businesses remaining who can operate on a cash basis - everyone has to accept digital payments , like credit cards, debit cards, and cash apps like Venmo and PayPal. In order to do so, merchants need a relationship with at least one payment provider, who will operate as the merchant's bridge to the broader payment ecosystem.

Venmo 68
article thumbnail

Transactions: Greylock FCU selects Alkami for digital banking

Bank Automation

Greylock Federal Credit Union has selected Alkami to improve its digital banking offerings. The $1.5 billion credit union will implement the Alkami Digital Banking Platform to provide online and mobile banking to its retail and business clients, according to Alkami’s March 5 release.

article thumbnail

The settlement date for security transactions and what it means for financial processes

Finextra

In response to heightened market volatility during the COVID-19 pandemic, the US Depository Trust &a.

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

Skipify and Synchrony Enter into Strategic Partnership to Simplify and Enhance Online Checkout

Fintech Finance

A leading financial technology company redefining the checkout experience, Skipify and Synchrony (NYSE: SYF), a leading consumer finance company with more than 70M active customer accounts across the US, today announced their partnership. The technology partnership leverages Skipify’s payment infrastructure to provide simplified and enhanced checkout for Synchrony cardholders, improving the experience for shoppers and delivering higher authorization rates, conversion, and security for Sync

article thumbnail

Conflux Network to host HK$ stablecoin AxHKD

Finextra

Conflux Network, the only regulatory compliant public blockchain in China, today announces its pivotal role in assisting the successful beta-testing of the Hong Kong Dollar (HKD)-backed stablecoin, AxHKD.

article thumbnail

Fondeadora and MeaWallet Partner to Accelerate Digital Payment Adoption in Mexico

The Fintech Times

Fondeadora , the financial service provider in Mexico, has reaffirmed its commitment to delivering secure digital payment services in the region as it partners with MeaWallet , the digital payments enabler specialising in card tokenisation. MeaWallet’s expertise in card tokenisation has been instrumental in powering Fondeadora offerings, including MeaWallet’s SDK Push Provisioning to enable Apple Pay , Google Pay , and integration with Mastercard Digital Enablement Service (MDES) through

article thumbnail

Blockchain Data Platform Chainalysis Integrates with Verification Provider Sumsub

Finovate

Verification provider Sumsub announced a partnership with blockchain data platform Chainalysis this week. The integration will bring automated crypto transaction monitoring and secure data storage, as well as ensure regulatory compliance. Sumsub made its Finovate debut at FinovateEurope 2020 in Berlin, Germany. Full-cycle verification provider and FinovateEurope alum Sumsub announced an integration with blockchain data platform Chainalysis this week.

article thumbnail

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.

article thumbnail

Crack Down on Fraud or Delaying Consumer Transactions? Industry Response to Anti-Fraud Legislation

The Fintech Times

The UK Government has published a draft legislation to extend payment service providers’ (PSPs) time to analyse potential fraudulent transactions, by 72 hours on top of the current business day they already have. We reached out to the industry to uncover if the move will be as useful as intended or if it will only delay legitimate transactions and negatively impact consumer experiences.

article thumbnail

Skipify to add Synchrony Mastercard to Connected Wallet product

Finextra

A leading financial technology company redefining the checkout experience, Skipify and Synchrony (NYSE: SYF), a leading consumer finance company with more than 70M active customer accounts across the US, today announced their partnership.

Product 59
article thumbnail

Customer Service ‘Still King’ as 40% of UK Consumers Stay With Bank Despite Switching Incentives

The Fintech Times

Financial incentives related to switching banking providers have been well-publicised across the UK. However, new research suggests that for many UK consumers, a positive customer experience ranks as a higher priority, leaving many happy to simply stay put. In fact, good customer service is the main reason that around 40 per cent of UK consumers stay with their current banking provider; European customer service software provider Odigo has revealed.

article thumbnail

The Harbor Bank of Maryland Partners with Account Onboarding Specialist Prelim

Finovate

The Harbor Bank of Maryland has partnered with digital account onboarding specialist Prelim. Courtesy of the partnership, the Baltimore, Maryland-based financial institution will leverage Prelim’s technology and expertise to enhance its account opening services. Headquartered in San Francisco, California, Prelim made its Finovate debut at FinovateSpring 2022.

article thumbnail

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.