November, 2024

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Fed aims to make instant payments the norm

Payments Dive

“It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at a major industry conference last week.

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PCI Mobile Payments on COTS (MPoC) Standard Version 1.1 Now Available

PCI Security Standards

The PCI Security Standards Council (PCI SSC) has published version 1.1 of the PCI Mobile Payments on COTS (MPoC) Standard, designed to support the evolution of mobile payment acceptance solutions. PCI MPoC builds on the existing PCI Software-based PIN entry on COTS (SPoC) and PCI Contactless Payments on COTS (CPoC) Standards, addressing security requirements for solutions that enable merchants to accept cardholder PINs or contactless payments using a smartphone or other commercial off-the-shelf

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Travelex to replace over 600 ATMs with NCR Atleos

Finextra

Travelex, a market leading foreign exchange brand, has launched a major refresh of its international ATM estate, replacing the hardware and software of its entire portfolio of 600 ATMs across eight countries.

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Norway Joins TIPS, Adding Norwegian Krone to Eurosystem’s Instant Payment Service

Fintech Finance

The European Central Bank (ECB) and Norges Bank signed an agreement for Norway to join the Eurosystem’s TARGET Instant Payment Settlement (TIPS) service. This will make the Norwegian krone the fourth currency available for settlement in TIPS, in addition to the euro, the Swedish krona and the Danish krone, which is scheduled to join in April 2025. The inclusion of the Norwegian krone in TIPS, which is part of the Eurosystem’s TARGET Services, is planned for the first half of 2028 and will enable

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The Evolving Retailer's 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

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PayPal Unveils Innovative Money Pooling Feature, Simplifying Group Expenses Between Family and Friends

PayPal

PayPal customers can collect and manage funds with friends and family for things like group gifts, travel, special events, and more in the PayPal app.

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India in Talks to Forge New Cross-Border Payment Linkages, Says RBI

Fintech News

India is advancing efforts to establish cross-border payment linkages with multiple countries, as reported by Bloomberg, citing an official from the Reserve Bank of India (RBI). T Rabi Sankar Deputy Governor T. Rabi Sankar, speaking at a conference in the Philippines, highlighted ongoing discussions with nations like the UAE and other regional neighbors to broaden this network.

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Fintech Solutions for SMEs: Unlocking Growth Potential

Fintech Review

Small and medium enterprises (SMEs) are the backbone of emerging economies. In many regions, they create jobs, drive innovation, and stimulate local economies. Yet, they often face financial challenges, struggling to access credit, manage cash flow, and navigate complex financial systems. Fintech solutions are changing this landscape, offering SMEs tailored tools to overcome these barriers.

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Airwallex opens startup programme in New Zealand

Finextra

Airwallex, the Australian-founded leading financial platform for modern businesses, today announced that it is launching Airwallex for Startups in New Zealand, to help Kiwi startups to accelerate their growth.

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Cross-Border Payments in Numbers: Global Corporations Lost $120 Billion in Transaction Fees

Fintech Finance

The current cross-border payment system imposes high costs on businesses and economies worldwide, stifling economic potential and limiting financial inclusivity. Global corporations move $23.5 trillion across countries annually—around a quarter of global GDP—at an estimated cost of $120 billion in transaction fees annually. Any improvement in the efficiency of cross-border transactions would, therefore, lead to considerable benefits for businesses and individuals globally.

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Tunic Pay: Over 70% of UK Adults Unaware of New Reimbursement Rules for Payment Scam Victims

The Fintech Times

The UK public is largely unaware of new regulations forcing UK banks to reimburse victims of payment scams, weeks after coming into effect, anti-fraud fintech Tunic Pay has revealed. On 7 October, the Payment Systems Regulator (PSR) mandated that all UK banks must repay customers who are victims of payment scams up to £85,000 per case. However, a Tunic Pay survey of 2,000 UK adults, conducted by independent market research consultancy Opinium , reveals that less than three in ten (29 per cent)

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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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Cake by VPBank Leverages Visa for Cloud-Based Card Management

Fintech News

Cake by VPBank, a Vietnamese digital bank, has collaborated with Visa to launch a cloud-based card management system (CMS). The system, built on Google Cloud infrastructure and using Visa Cloud Connect, integrates with Visa’s global payment network. The CMS aims to enhance payment processing in Vietnam by leveraging cloud infrastructure, allowing for secure and streamlined operations.

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PayPal CEO pushes beyond payments

Payments Dive

After a year as CEO of the digital payments pioneer, Alex Chriss is spearheading an expanded role in commerce for the company.

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Empowering Financial Institutions: An Interview with the CEO of Almond FinTech

Fintech Review

In this exclusive Fintech Review interview, Adam Swartzbaugh, CEO of Almond FinTech , discusses transformative cross-border payment technology. Almond’s blockchain-driven Settlement Optimization Engine (SOE) addresses critical speed, transparency, and cost challenges in cross-border payments. The SOE optimises transaction routes and provides near-instantaneous settlement for financial institutions globally.

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Australian banks pilot fraud intelligence sharing network

Finextra

Australia's top banks are piloting a fraud and scams intelligence-sharing network using behavioural- and device-based technology from security vendor BioCatch.

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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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Blink Payment Enters B2B Fashion Payments with Zedonk Partnership

Fintech Finance

Blink Payment , a UK paytech platform that offers businesses seamless digital payment solutions, today announces its entry into B2B fashion payments through integration with ERP Zedonk , in a move that will enable more than 1,000 leading fashion brands and showrooms to streamline their buyer payments. Zedonk currently services over 1,000 brands and showrooms across 45 countries, many of whom distribute their products to individual retailers.

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Roadmap to Success or Failure: FCA Announces Crypto Regulation Route

The Fintech Times

The Financial Conduct Authority (FCA) has unveiled a roadmap outlining key dates for the development of its ‘crypto regime’, as it aims to introduce a clear regulatory framework for the UK’s crypto industry. As of August 2024, around 12 per cent of UK adults own some sort of crypto asset – equivalent to around seven million people – while around 93 per cent have at least heard of them, according to new FCA research revealed on Tuesday.

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Xoom Enables Partners to Use PayPal USD for Faster Cross-Border Payments

Fintech News

PayPal has announced that its disbursement partners can now use PayPal USD (PYUSD) to settle cross-border money transfers via Xoom, its digital remittance platform. Xoom, a PayPal service, offers digital remittance services in over 160 countries, providing users with a convenient platform to send money, pay bills, and reload phones. This move aims to reduce the cost and increase the speed of international money transfers by leveraging blockchain technology.

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Afterpay to arrive on 24M Cash App cards

Payments Dive

The digital payment company’s leader, Jack Dorsey, aims to create lending services that will appeal to millions of U.S. adults who haven’t had access to other forms of credit.

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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.

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Aevi and Paydock join forces to revolutionise omni-channel payment orchestration

The Payments Association

Paydock, a leading eCommerce payment orchestration platform, has announced a strategic partnership with Aevi, a pioneer in card-present payment orchestration, to deliver a true omnichannel payment orchestration offering for financial institutions, merchants and ISVs. This partnership unites Paydock’s expertise and agnostic infrastructure in digital payments with Aevi’s advanced in-store payment solutions.

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Visa and Tencent bring palm payments to Singapore

Finextra

Chinese tech conglomerate Tencent has teamed up with Visa to take its palm recognition technology for digital payments international, beginning with Singapore.

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Tranglo Expands Services Across Africa

Fintech Finance

Tranglo, a leading cross-border payment hub, has expanded its footprint in Africa, now supporting payouts in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia. This strategic expansion aims to boost financial inclusion by providing efficient, affordable cross-border payment solutions to one of the world’s fastest-growing economic regions.

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Outlier Ventures Bolsters LatAm Web3 Ecosystem With Launch of Region’s First Base Camp Programme

The Fintech Times

The mastermind behind the accelerator programme Base Camp, Outlier Ventures , the Web3 accelerator, has announced that Bando , Berry Investing , Fact Finance , Loula and IDENTI will be taking part in its Latin America (LatAm) edition. The LatAm Base Camp is an inaugural accelerator programme dedicated to partnering with Web3 startups in Latin America.

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Secrets of a Successful Sale: Optimizing Your Checkout Process

Speaker: David Nisbet, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

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Mastercard to Phase Out Passwords by 2030 with Biometrics, Tokenisation

Fintech News

Mastercard announced plans to revamp online checkout procedures by 2030, aiming to eliminate manual card entry and passwords. Citing concerns about online fraud, which occurs at seven times the rate of in-store fraud, Mastercard proposes a system that relies on tokenisation and biometric authentication, such as fingerprints and facial recognition. This approach also seeks to address issues like cumbersome checkout processes, which currently lead to a 25% cart abandonment rate.

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How Trump’s administration may rework payments policies

Payments Dive

The president-elect and his new administration will have the opportunity to revamp federal government approaches for everything from earned wage access to digital currencies to open banking.

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The battle for merchant deposits: How the fintech sector is challenging banks’ core business

The Payments Association

What is this article about? How fintechs are challenging traditional banks in the merchant services space, posing a threat to banks’ core business and revenue streams. Why is it important? The shift driven by fintechs could erode banks’ dominance, forcing them to modernise or risk losing a significant share of the market. What’s next?

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Standard Chartered embeds with Wise for global remittances

Finextra

Wise has signed Tier 1 global bank Standard Chartered to use its platform for cross-border remittances in Asia and the Middle East.

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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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‘Serenity’ and ‘IDEMIA Secure Transactions’ Launch sAxess Biometric Card for Enhanced Digital Security and Data Recovery

Fintech Finance

Serenity , a tech and blockchain solution provider, and IDEMIA Secure Transactions (IST), a global leader in payment and connectivity solutions, announced the launch of sAxess , a biometric security card to improve data access control, security, and recovery. The partnership with IDEMIA Secure Transactions brings its extensive connections and expertise in payment and connectivity solutions, with 1,900 financial institutions and FinTechs clients worldwide, together with Serenity’s knowledge in bl

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Credit Card Processing for Small Business: Everything You Need to Know

Stax

Whether you are starting a new online store or looking to grow your existing brick-and-mortar small business, you must make provisions for accepting credit card payments. A study by the Federal Reserve Bank of San Francisco showed that credit cards account for 31% of all payments, significantly more than cash at 18%, and debit cards at 29%. There is no way around it: credit cards are an essential part of the everyday life of your customers and you will only lose customers if you aren’t ready for

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Money20/20 Asia 2025 Announces Stellar Keynote Lineup and Agenda At-A-Glance

Fintech News

Over 50 speakers have already been confirmed to take the stage at Money20/20 Asia 2025 in Bangkok, Thailand. The conference returns for its second edition from 22 to 24 April 2025 at the Queen Sirikit National Convention Center. More than 3,000 people from 85+ countries attended in 2024, and next year’s show promises to be even bigger and better. Thirty-six leading names, including OpenPayd, Terrapay, Thunes, Chubb, Trulioo, and Nium, have already signed up as sponsors.

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Visa pinpoints rising fraud threats

Payments Dive

In a new report, the card network detailed cyber schemes and scams that have led it to invest $11 billion over the past five years in improving its systems.

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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.