October, 2023

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BIS advances oversight structure for broader faster payments ecosystem

Payments Dive

In the interest of faster, cheaper and more transparent cross-border payments, the Bank of International Settlements last week produced an interim report aimed at developing a governance structure for an interlinked faster payments system.

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Paving the Way: Inspiring Women in Payments - A Q&A featuring Ruth Barra

PCI Security Standards

Ruth Barra knows that when you enter a career in technology, you will never know everything. You are, in fact, signing up for a lifetime of learning. However, one of the most important aspects of lifelong learning is having the benefit of mentorships. In this edition of our blog, Ruth explains how the sharing of knowledge and lessons learned can have a significant impact on both the mentor and the mentee.

Payments 125
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What is a REST API, and why are they vital to the success of your business?

Axway

Ever wondered how different software applications communicate seamlessly? The secret sauce often lies in REST APIs. In today’s digital age, understanding REST APIs is not just a tech requirement but a business imperative.

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Mastercard demonstrates CBDC interoperability for Web3 commerce

The Paypers

Global payments technology company Mastercard has revealed that it demonstrated CBDC interoperability for trusted Web3 commerce in Australia.

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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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Retrieval-Augmented Generation and RAG Workflows

Nanonets

Introduction Retrieval Augmented Generation, or RAG, is a mechanism that helps large language models (LLMs) like GPT become more useful and knowledgeable by pulling in information from a store of useful data, much like fetching a book from a library. Here’s how RAG makes magic with simple AI workflows: Knowledge Base (Input) : Think of this as a big library full of useful stuff—FAQs, manuals, documents, etc.

AI 59
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Senate bill would let small businesses use SBA loans to cover fintech fees

Payments Dive

The Financial Technology Association is backing a bill that would clarify that loans made through the Small Business Administration’s flagship lending program can be used to pay for fintech services.

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Payments players react to debit cap cut

Payments Dive

The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.

Caps 183
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NMI acquires Sphere division

Payments Dive

The deal will enhance NMI’s underwriting capabilities and allow ISVs and fintechs to create merchant accounts within the company’s existing platform, NMI said.

ISVS 174
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Shift4 acquires SpotOn unit for $100M

Payments Dive

With the purchase of SpotOn’s sports and entertainment business unit, Shift4 scoops up its rival’s customers in that market.

Acquirers 195
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Cash use falls as instant payments gain ground: McKinsey

Payments Dive

Global cash use declined four percentage points last year, continuing a pandemic-era trend, consulting firm McKinsey said in a recent report.

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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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Visa faces remaining litigation exposure of up to $4B

Payments Dive

That’s the maximum amount of money the card network estimates may yet result from claims brought against it years ago by merchants who argue they were overcharged for card transaction processing.

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States split over gun merchant category code

Payments Dive

California passed a law last week forcing use of a gun merchant code, but other states have done the opposite. Now, maybe Congress will act.

Laws 190
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Crypto legislation would put US ‘back in the game,’ stakeholders say

Payments Dive

A pair of House bills would help the industry gain clarity, scale digital asset products and promote financial inclusion, cryptocurrency stakeholders said Sunday on a panel at Money20/20.

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Wex buys Payzer for $250M

Payments Dive

The purchase continues a spate of payments industry acquisitions this month, and will let the fleet management services company cross-sell more software.

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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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Immigrants denied credit cards, other loans: CFPB, DOJ

Payments Dive

“The CFPB will not allow companies to use immigration status as an excuse for illegal discrimination,” the bureau’s Director Rohit Chopra said Thursday.

CFPB 167
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Do low-income consumers need more digital payments protection?

Payments Dive

“Big gaps in the law” are leaving the financially vulnerable open to harms from digital payments, one law professor argues in a recent Georgetown Journal on Poverty Law & Policy paper.

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CFPB: Consumers paid record credit card fees in 2022

Payments Dive

"With credit card debt crossing the trillion dollar mark, we will be working to prevent bait-and-switch tactics when it comes to rewards,” CFPB Director Rohit Chopra said in a Wednesday press release.

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Fed to review debit card fee cap next week

Payments Dive

The Fed hasn’t changed a debit card fee cap since it was put in place in 2011, but it's planning to take up the issue at a meeting next week.

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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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Modernizing momentum: How the right payment platform can create value in the C-Suite

Payments Dive

When crafting strategies that can both create this future-forward perspective while capturing sales today, it’s important to consider modernizing the virtual payment structure.

Payments 158
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PayPal taps Fiserv as ‘core’ payments partner

Payments Dive

Fiserv CEO Frank Bisignano said Tuesday that his company is now PayPal’s “core U.S. partner for payment services.

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What 3 retailers’ approach to crypto says about the market

Payments Dive

Pacsun, GameStop and Tag Heuer have all introduced crypto activations in recent years as the payment option grew in popularity.

Payments 179
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i2c chases partnerships to power growth

Payments Dive

The issuing-processing fintech is pursuing tie-ups with Deloitte, PwC and other big advisory firms to further its growth globally.

FinTech 174
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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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Block cuts employees

Payments Dive

Jack Dorsey-led Block is the latest payments company to make staff cuts and pull back on hiring as it pursues profitable growth.

Blocks 174
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CFPB unveils open banking proposal

Payments Dive

The rule makes it easier for consumers to share deposit account and credit card data with fintechs, the Consumer Financial Protection Bureau said.

CFPB 157
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BNPL, EWA bills surface at House hearing

Payments Dive

The legislative proposals emerged at a Wednesday hearing during which lawmakers queried witnesses on payments and fintech issues.

BNPL 166
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Credit card debt tops $1 trillion, before the holidays even arrive

Payments Dive

Retailers may feel the pinch, especially those whose own store cards are facing rising delinquencies and a potential cap on late fees.

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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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SEC investigates Discover card pricing issue

Payments Dive

The error, first disclosed by the company in July, affected merchants and merchant acquirers.

Acquirers 173
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Get a Sneak Peek at a Community Meeting Presentation on Compliance is a Program, Not a Project

PCI Security Standards

Do not pass up the chance to collaborate and gain knowledge on the latest developments in payment security at the upcoming 2023 PCI SSC Asia-Pacific Community Meeting. This event features presentations from some of the sharpest minds in payment security. Below Brian Odian , Director - APAC Managed Compliance Services, VikingCloud provides a preview of his presentation on Compliance is a Program, Not a Project.

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Spotlight On: Cielo, a new Principal Participating Organization

PCI Security Standards

Welcome Cielo, a new Principal Participating Organization (PPO) at the PCI Security Standards Council! In this special spotlight edition of our PCI Perspectives Blog, Cielo’s CISO Glauco Sampaio introduces us to his company and how they are helping to shape the future of payment security.

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Same-day payments keep climbing: Nacha

Payments Dive

Businesses are increasingly turning to same-day ACH payments this year, according to Nacha, a national clearinghouse that manages electronic money movement.

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Deliver Mission Critical Insights in Real Time with Data & Analytics

In the fast-moving manufacturing sector, delivering mission-critical data insights to empower your end users or customers can be a challenge. Traditional BI tools can be cumbersome and difficult to integrate - but it doesn't have to be this way. Logi Symphony offers a powerful and user-friendly solution, allowing you to seamlessly embed self-service analytics, generative AI, data visualization, and pixel-perfect reporting directly into your applications.