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by Jim Merchant, Senior Program Director at BHMIFacing rising costs, competition, and complexity, many companies in the payments space are continually seeking The post Gaining Control of Transaction-Based Fee Structures first appeared on Payments NEXT.
The Bank for International Settlements (BIS) and a group of central banks have successfully completed Project Mandala demonstrating automated compliance for cross-border transactions. Project Mandala was carried out in collaboration with the Reserve Bank of Australia, the Bank of Korea, Bank Negara Malaysia, and the Monetary Authority of Singapore. The initiative showcases how regulatory requirements can be embedded directly into cross-border payment processes, aligning with G20 priorities to ma
As Canadian businesses look to expand internationally, one crucial component of successful growth is handling cross-border payments smoothly and efficiently. Selling products and services internationally means facing new challenges, especially regarding payment processing, regulatory requirements, currency exchanges, and fraud prevention. In this article, we’ll cover what Canadian merchants need to know as they scale their businesses internationally to USA and beyond, with a focus on key consid
Dragons’ Den stars Sara Davies and Deborah Meaden have joined forces with Our Dementia Choir founder and Line of Duty star Vicky McClure, to back Sibstar ’s Safe Spending For All Campaign. Sibstar, the UK’s leading debit card and app for people living with dementia, is today calling for banks and governments to work closer together to ensure safer spending for financially vulnerable people.
Speaker: Benjamin Woll, Tiffany Spizzo, and Jaime Santos Alcón
Enterprise commerce is at an inflection point. Rigid, monolithic platforms slow brands down, but a full replatforming is disruptive and costly. Modular architecture offers a flexible, scalable alternative - allowing enterprise brands to modernize without ripping and replacing their entire stack. Learn how a composable approach helps modernize commerce stacks while maintaining control over critical systems.
The Payments Association (TPA)’s George Iddenden recently sat down with Peter Theunis, senior vice president sales and European managing director at BPC to discuss the remarkable transformation of the payments processing industry, driven by the rise of fintech, the shift towards digital payments, and evolving consumer behaviours. The traditionally stable environment, where banks outsourced processing to established providers, has been shaken up by the emergence of fintech players.
The world can be just as much of a marvelous place, as it can be a dangerous one. And the same can be said about the online one, where you need to focus on your safety just as much but in a different way. For those wondering how to approach this, make sure to keep reading as we’ll be covering everything you need to know about cybersecurity. The Importance of Staying Informed As we become increasingly reliant on technology, more of us are spending extended periods of time online and attached to o
Accepting credit card payments at your business is a surefire way of increasing customer satisfaction and retention. Don’t believe it? Here are the numbers to prove it. Over 80% of American adults owned at least one credit card in 2023. Also, credit cards contributed to 27% of the spending at point-of-sale (POS) systems worldwide. That’s over $10 trillion in transactions.
Accepting credit card payments at your business is a surefire way of increasing customer satisfaction and retention. Don’t believe it? Here are the numbers to prove it. Over 80% of American adults owned at least one credit card in 2023. Also, credit cards contributed to 27% of the spending at point-of-sale (POS) systems worldwide. That’s over $10 trillion in transactions.
OCBC announced that it is the first bank in Singapore to offer intraday institutional lending using blockchain technology. This approach aims to maximise returns on excess liquidity through reverse repurchase agreements (reverse repos) conducted on J.P. Morgan’s Digital Financing application, powered by the Onyx Digital Assets platform. OCBC is the first external counterparty with this reverse repo capability on the platform.
The economy today is tech-driven and payment methods are a key part of that paradigm. From traditional options like credit cards to emerging solutions such as cryptocurrencies and biometrics, each payment method comes with unique advantages that cater to varying consumer needs. This report covers the payment methods available, examining their usage, growth trends, and statistics to help businesses make informed decisions.
FV Bank, in partnership with Visa, has today announced at Money20/20 Las Vegas (October 27-30), the launch of FV Bank’s new debit cards and corporate expense cards. Available to both U.S. and international customers and businesses, the individual debit cards and corporate expense cards can be used worldwide, providing individuals and businesses with seamless access to their FV Bank fiat and digital asset custody balances offering global payment convenience and enhanced financial flexibility.
What is this article about? Key findings from the Half Year Fraud Report 2024 by UK Finance, detailing the evolving threats in payment fraud. Why is it important? It highlights the rising trends in fraud and stresses the need for payment leaders to implement stronger prevention strategies and collaborations. What’s next? Payment leaders must focus on fraud prevention, collaboration with tech and telecom sectors, and public education to mitigate future risks.
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
A Data Protection Officer (DPO) can be called as an ally for organizations that deals with large amount of Privacy related data in its core operation. They are appointed based on article 37 of GDPR, and help organizations stay compliant with data protection laws by overseeing data security policies, monitoring internal compliance, and providing expert advice for staffs managing the potential data privacy risks.
FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, has released its annual selection of the world’s most promising cross-border payments companies in 2024. This year, the list spotlights six companies from Asia, recognizing them for their rapid growth, increasing market significance, and strong potential for future success.
Shift4 , an integrated payments and commerce technology provider, has launched its new ‘Pay with Crypto’ offering, enabling merchants worldwide to accept cryptocurrency seamlessly for both e-commerce and POS. Shift4 merchants will be able to accept payments in a variety of cryptocurrencies from around the world, including Bitcoin , Ethereum, Solana, US Dollar Coin (USDC) and other major stablecoins.
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?
The FTC’s new “click-to-cancel” rule, designed to simplify the process of ending subscriptions, has created a stir, putting additional pressure on subscription businesses to reassess their strategies. Payment processing platform Solidgate surveyed 1,000 adults and found that 1 in 4 had upsetting unexpected charges with their subscriptions and 80% wouldn’t recommend a subscription service to a friend if they had trouble canceling it, while 1 in 3 consumers cancelled a subs
Acquisition of BlockChyp brings new technology and industry expertise to Stax, furthering its evolution as a leading payment processor ORLANDO – October 1, 2024 – Stax , a leading payment technology provider, today announced its acquisition of BlockChyp , further expanding the company’s end-to-end processing capabilities. The addition of BlockChyp marks a significant, strategic expansion of Stax’s growing technology stack to drive increased value for partners and merchants and accelerate growth.
The excitement is building as we get closer to this year’s Asia-Pacific Community Meeting ! To add to the anticipation, we’re giving you a sneak peek of some of the amazing sessions that will be featured in Hanoi, 20-21 November.
The Consumer Financial Protection Bureau released its final open banking rule this month, leading the payments and financial services industries to begin preparing for a new era in data-sharing.
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.
Payments giant Mastercard has introduced Bill Qkr , a digital solution aimed at simplifying recurring and one-time bill payments for consumers and businesses. Bill Qkr offers a secure, card-based system designed to make payments easier for merchants, acquirers, payment facilitators, and service providers through flexible options and streamlined collection processes.
As fraudsters are continuously finding new ways to strike, we’re continuously finding new ways to prevent them with controls such as encryption, multi-factor authentication, fraud detection software, etc. But not everyone is aware that it all begins with how electronic devices are designed. With the way Printed Circuit Boards (PCBs) are laid out and built, to be precise.
Today, the Payment Systems Regulator (PSR ), marks another significant milestone in its fight to tackle fraud, as hundreds of additional financial firms adopt the name-checking service, Confirmation of Payee (CoP). This expanded rollout means that over 99% of all transactions made through Faster Payments and CHAPS are now safeguarded by this vital anti-fraud measure, offering consumers an important way to protect themselves from fraud.
The Consumer Financial Protection Bureau fined VyStar Credit Union $1.5 million today for the botched rollout of a new online banking system, which left clients unable to access basic online banking services. The Jacksonville, Fla.-based, $14.75 billion VyStar tried to transition to a new online banking platform in May 2022, but the platform failed leaving […] The post CFPB fines VyStar Credit Union $1.5M for ‘bungled’ platform rollout appeared first on Bank Automation News.
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.
The PCI Security Standards Council (PCI SSC) is pleased to announce a simplified onboarding process for laboratories seeking to conduct Mobile Payments on COTS (MPoC) evaluations and become MPoC-certified labs. This new streamlined approach removes previous barriers to entry while maintaining the Council’s rigorous security and quality standards.
Thunes, a global payments company, has launched a new Pay-to-Card solution that allows its members to send real-time payments to 15 billion Mastercard, Visa, and UnionPay cards worldwide. This expansion increases Thunes ‘ global reach to 22 billion endpoints, adding to its existing capability to pay directly into 7 billion mobile wallets and bank accounts.
Instant payments and fraud prevention have quickly become the areas fintechs need to focus on most, according to the third portion of the ‘2024 Payment State of the Union’ study by Discover Global Network , the global payment network. Conducted in partnership with 451 Research of S&P Global Market Intelligence , Discover Global Network surveyed thousands of decision-makers across fintechs, merchants, and consumers to better understand if ecosystem priorities are aligned.
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
Dojo , a leading payment technology provider, has announced a major milestone in its mission to support small and medium-sized enterprises (SMEs) across the UK. Through its long-standing partnership with global embedded financing platform YouLend, Dojo has extended over £1 billion in flexible funding since 2020. Over the past four years, the partnership has provided financing to more than 20,000 businesses.
Technology is always brimming with advancements, and it is more prominent in the financial sector. As financial institutions increasingly rely on digital infrastructure to enhance operations, customer experience, and security, they also face growing challenges in mitigating the risks that come with it, such as cyber threats, system failures, and other operational vulnerabilities.
In a conversation with FinextraTV, Moshe Winegarten, Chief Revenue Officer at Ecommpay, and Todd Clyde, CEO of Token.io, discuss the future of open banking and the evolving payments landscape. The discussion highlights a global shift towards instant payments in 84 countries and the consolidation of payment service providers (PSPs). Open banking emerges as a cost-effective and faster alternative to traditional card payments, which it is predicted to replace.
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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