May, 2022

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Big tech pushes passwordless for payments

Payments Dive

Google, Microsoft and Apple this month began a big, new push in their campaign for a passwordless standard that's aimed at improving digital identity verification, including for payments.

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Open Insurance in Brazil: on the road to Open Finance

Axway

In parallel to the national Open Banking program (officially known as Open Finance), another movement is the topic of heated debate today: Open Insurance. The Brazilian insurance regulator envisions a new Open Insurance System and published initial requirements in Dec.

Finance 90
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State of Blockchain Q1’22 Report

CB Insights

While most other sectors saw quarterly declines, venture funding to blockchain startups was red-hot in Q1’22 — hitting an all-time high for the seventh straight quarter. In our State of Blockchain Q1’22 Report, we dive into global funding trends to uncover takeaways like: How Web3 drove the $9.2B quarter . The number of deals per day, and which categories are drawing the most dollars.

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Argentina: Banks, e-wallets to associate all bank accounts in their apps

The Paypers

The Central Bank of Argentina (BCRA) has ordered that banks and virtual wallets offer their clients the possibility of associating all the accounts that they have in their name through their applications, according to iproup.com.

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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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How to Optimize Your Online Payment Process for Higher Conversion Effectively

Agile Payments

How to Optimize Your Online Payment Process for Higher Conversion Effectively.

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UK Cards Report: Credit Card Payments Yet To Show Signs Of Distress

FICO

The FICO Credit Market Report for March 2022 shows that repayments remain a priority for credit card holders, suggesting that there will be greater reliance on credit over the coming months as the cost-of-living crisis deepens due to higher inflation. Highlights . Average card spend drops marginally by just under 2 percent compared to February. Small drop in average active balance – just over half a percent.

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Scale your EDI in the cloud with a B2B integration platform

Axway

I’m often asked, “why do we need to move our B2B transactions to the cloud?” and all I can think when I hear this is: “why wouldn’t you move your B2B transactions to the cloud?”.

B2B 59
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Neo Financial raises $145 in Series C funding. Neo Financial, a Canadian digital bank, competitors include Koho Financial, Wealthsimple, Stack, Mogo, Tangerine Bank, and EQ Bank.

CB Insights

Neo Financial , a Canadian digital bank, has raised $145M in a Series C. The round drew participation from Valar Ventures, Maple VC, Blank Ventures, and Gaingels, among others. <span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div><div class="cbi-cta-shortcode-forms" ><div class="cta has-desktop"><div class="cta-desktop ce

FinTech 68
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Mastercard and HyperPay partner to expand digital payments in MENA

The Paypers

Global payments processor and card issuer Mastercard and ecommerce payments service provider HyperPay have announced a partnership to expand digital payments in the MENA region.

Visa 69
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Planning, Budgeting, and Forecasting: Can they be Used Interchangeably?

The Finance Weekly

Planning, Budgeting, Forecasting. We hear the 3 terms being thrown around a lot- oftentimes interchangeably. A company’s plan, budget, and forecast are usually talked about all together, whether it be in the boardroom, in a company goal-setting sheet, or in general talk about FP&A. While all of these terms go together in a finance department setting, in reality they all hold very different functions and unique purposes.

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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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Application Fraud – An Open Door for Fraudsters

FICO

Fraud at the point of application has long been an issue for lenders. Over the years, other sectors that needed personal data to set-up accounts and provide access to services have also fallen in the line of fire of criminals. We have seen insurance, utilities and mobile phone contracts all targeted by application fraud. This trend has grown considerably, as the pandemic forced rapid digital transformations across organizations that were far from ready.

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Cannabis payments companies focus on compliance, creativity

Payments Dive

In the cannabis business, federal illegality has kept many banks and payments companies on the sidelines. That's opened the door for young companies that are using the ACH network to facilitate cannabis payments in states where it’s been legalized.

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No API left behind: Drive API adoption with Amplify

Axway

It’s hard to imagine how businesses today could survive and compete without APIs to connect their services to an expanding digital world. For most, APIs are essential to future growth.

API 59
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SpotOn, a provider of payments tech and software for retail and restaurant SMBs, reaches $3.6B valuation. SpotOn competitors are Toast and Block.

CB Insights

SpotOn , a software and payments processing company, has raised $300M in a Series F. The round drew participation from Dragoneer Investment Group, Andreessen Horowitz, and DST Global, among others. <span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div><div class="cbi-cta-shortcode-forms" ><div class="cta has-desktop"><div clas

Blocks 67
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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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Brazil regulators publish joint resolution on Open Finance interoperability

The Paypers

The regulatory and supervisory bodies of the financial and insurance market have published the Joint Resolution No. 5/2022 , which provides for interoperability in Open Finance.

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FTA pushes for remittance fee reform

Payments Dive

"We urge Director Rohit Chopra to update the CFPB’s outdated remittance rule and take on the high cost of international payments," the Financial Technology Association says in this op-ed piece.

CFPB 181
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CFPB carves out new competition angle for oversight

Payments Dive

A former CFPB enforcement director told an audience of payments professionals this week that they'd best be prepared for the agency to expand its oversight by way of its markets authority.

CFPB 178
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Three US cash trends persist, Fed report says

Payments Dive

The COVID-19 pandemic led U.S. consumers to change up their payment habits, but three long-term cash trends have mainly persisted, according to a Federal Reserve Bank report issued this month.

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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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Congressman calls for increased digital wallet protection

Payments Dive

Consumers may "not understand that funds kept in digital wallets or by payment apps may not be insured and protected to the same degree as their bank accounts,” a congressional report says.

Accounts 173
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World Bank forecast for cross-border payments rises

Payments Dive

The international bank expects remittances to climb 3.7% to $802 billion this year. That's more than was previously expected and the increase is partly due to the upheaval in Ukraine, the World Bank said.

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BNPL players' losses grow as costs soar

Payments Dive

Buy now-pay later providers are having to pay a hefty price to keep up with surging consumer demand for their financing services, spending large sums to add new technology and more employees. As a result, their expenses are rising at a much faster rate than their revenue, meaning most of the major players are posting losses despite the BNPL mania.

BNPL 167
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Durbin proposes card fee reforms, not legislation

Payments Dive

Sen. Dick Durbin pushed for a handful of reforms of credit card fee practices at Wednesday's Senate Judiciary Committee hearing on "excessive swipe fees," but didn't offer plans for new legislation. He also questioned Visa and Mastercard representatives about recent fee increases and took testimony from consumer advocates who slammed the hikes.

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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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EMVCo invites input on new contactless standard

Payments Dive

The firm controlled by the card companies has drafted a new contactless technology standard and it's seeking public comment on the specifications. Their plan is to implement a change by yearend.

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Mastercard touts ESG strategy

Payments Dive

Pursuing environmental, social and governance goals offers advantages in forging customer relationships and luring talent amid a tight labor market, a Mastercard executive said.

Visa 158
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Self-checkout tech maker Mashgin raises $62.5M

Payments Dive

The technology company, which currently partners with convenience stores, cafeterias, hospitals and sports arenas, said it will use the investment to build out its team, quicken expansion and scale globally.

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Fed delivers mixed credit card data

Payments Dive

While first-quarter consumer credit card debt rose relative to the same period last year, it dropped compared to the fourth quarter. Meanwhile, consumers' outlook on the availability of credit deteriorated.

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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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VizyPay carves out a niche catering to rural America

Payments Dive

Austin Mac Nab, the CEO and cofounder of Waukee, Iowa-based payments processing firm VizyPay, said the company aims to disrupt the payments landscape by catering to small town businesses.

Process 158
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Grubhub launches corporate pay card

Payments Dive

Employers with a Grubhub Corporate Account can set parameters on when workers can use the pay card or choose to give them a daily or weekly credit to use when ordering from partner restaurants on the delivery marketplace.

Accounts 158
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Amex CEO snags $28.5M total compensation

Payments Dive

Stephen Squeri, CEO of New York-based American Express, received $28.5 million in total compensation for 2021. The vast majority of that pay package came from annual and long-term incentive awards on top of a $1.5 million base salary.

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Mastercard CEO lands hefty raise

Payments Dive

Compensation for Michael Miebach, who was the card company's chief product officer and president before he became CEO last year, climbed 75% to $16.1 million for 2021 after he took Mastercard's top post.

Visa 157
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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.