July, 2024

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The Role of PCBs in Cybersecurity

VISTA InfoSec

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.

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FedNow zooms past RTP participation in inaugural year

Payments Dive

The Federal Reserve’s nascent instant payments system has collected hundreds of bank participants across the country in its first year of operations, although a few major banks are holdouts.

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A New Take on the Oldest Form of Bill Payment: Cash

Payments Next

By Michael Kaplan, EVP, PayNearMe What’s in your wallet? That’s a well-known slogan for a major credit card, but it’s also an The post A New Take on the Oldest Form of Bill Payment: Cash first appeared on Payments NEXT.

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Digital Payments: 12 Digital Payment Options to Consider Accepting in Your Business

Stax

It’s no question that the world has been digitally transformed — both in business and in life. We can hail a ride from a mobile app, and our transactions for all sorts of goods and services can be easily paid for from our phones. Physical wallets are phasing out, left behind in favor of digital wallets and other digital payment options. All you need to use a digital wallet is a smartphone.

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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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UK RTGS Chaps goes down

Finextra

The Bank of England says a 'global payments issue' dealyed high value payments, including house purchases, processed through the national real-time gross settlement system Chaps.

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Evolve Bank says ransomware gang stole personal data on millions of customers

TechCrunch Fintech

Evolve has confirmed that the personal data of at least 7.6 million people was accessed during LockBit's ransomware attack. © 2024 TechCrunch. All rights reserved. For personal use only.

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Congress members egg on US payments system expansion

Payments Dive

A bipartisan group is nudging the Federal Reserve to explain why it can’t speed up a plan to extend the operational availability of the U.S. payments system.

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Salaam Somali Bank and Mastercard Launch Innovative Digital-First Multi-Currency Prepaid Card

Fintech Finance

In a significant move towards enhancing digital financial inclusion, Salaam Somali Bank , in collaboration with Mastercard , has announced the launch of a digital-first co-branded multi-currency prepaid card designed to revolutionize digital payment solutions. This strategic collaboration aims to cater to the growing needs of international travellers and diaspora communities by providing secure and convenient means of conducting digital payments across the globe.

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Singapore Invests S$100million to Boost Quantum and AI in Financial Sector

The Fintech Times

The Monetary Authority of Singapore (MAS) has committed an additional S$100million to support the development of quantum and artificial intelligence (AI) technologies in the financial sector. This investment is part of the Financial Sector Technology and Innovation Grant Scheme ( FSTI 3.0 ) and aims to foster innovation and enhance technological capabilities in finance.

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Apple reaches deal with EC on NFC payments access

Finextra

Apple has staved off massive European Commission fines by agreeing to open up the NFC chip technology that enables iPhone users to make contactless payments to third-party providers.

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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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Citigroup Cuts 500 Jobs in Singapore as Part of Global Strategy

Fintech News

Citigroup Inc. has laid off about 500 employees as part of a global restructuring effort, as reported by The Straits Times. The bank now has about 8,000 full-time and contract employees in Singapore, down from 8,500 in October. This reduction aligns with Citigroup ‘s broader strategy to “streamline its operations” by cutting management layers and roles concentrated in the Asia Pacific region.

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Bank of America, JPM, TD and Visa affected by global CrowdStrike outages

Bank Automation

Banks, airlines and other organizations using Microsoft have reported down systems across the globe as cybersecurity firm CrowdStrike is suffering from the biggest IT outage in history.

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Payments industry to use AI to detect fraud, improve efficiency

Payments Dive

Research from the investment bank Jefferies suggests generative artificial intelligence could be used in the payments industry to improve fraud detection and make transactions happen faster.

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Meet the Finalists of the 2024 Finovate Awards!

Finovate

After months of deliberation, the finalists for the 2024 Finovate Awards have been selected! In categories ranging from “Best Alternative Investments Solution” to “Top Emerging Fintech Company,” more than 130 innovative companies and individuals have made the short-list. We are now set for an exciting autumn showdown when winners are announced at Finovate Fall 2024 in New York in September.

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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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Adaptive builds automation tools to speed up construction payments

TechCrunch Fintech

Adaptive is a platform that provides tools designed to simplify payments and accounting for general construction contractors. © 2024 TechCrunch. All rights reserved. For personal use only.

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Visa and Tangem combine payment card with crypto wallet

Finextra

Crypto wallet provider Tangem is partnering with Visa on the launch of a payment card that will be integrated with the Swiss firm's self-custodial hardware wallet.

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Revolut Partners With Paysafe to Launch Cash Deposits for all UK Customers

The Fintech Times

Revolut , the fintech with over nine million UK customers, has joined forces with payments platform Paysafe , to launch cash deposits for all UK customers, just one day after securing a banking licence from the PRA. By introducing cash deposits, Revolut ensures that its customers can deposit their money into their Revolut accounts seamlessly for the first time.

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BNP has identified 780 AI use cases

Bank Automation

BNP Paribas is investing in AI, cloud infrastructure and cyber security as part of its modernization efforts. “The second quarter marked the continuation of our ambitious but disciplined development within AI,” Chief Financial Officer Lars Machenil said during the bank’s earnings call on July 24.

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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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How artificial intelligence can improve payments fraud prevention

Payments Dive

Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.

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Cross-Border Real-Time Payments Make Tangible Progress as Over 50% Consumers Use Them, Says GlobalData

Fintech Finance

Cross-border payments are becoming increasingly important to international economies. Around 63% of global consumers use international real-time payments (RTPs) services to send money to family and friends and 51% use them only to pay for goods and services, according to the 2024 Financial Services Consumer Survey* conducted by GlobalData , a leading data and analytics company.

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Outdated Payment Systems Eroding Profit Margins Across Travel Industry

Fintech News

A new report by global payments firm Airwallex and Skift Research reveals that 66 percent of travel companies worldwide are experiencing reduced profit margins due to outdated payment systems. The study indicates that 90 percent of these companies plan to prioritise upgrades to payment and financial operations systems over the next year. The report, based on a survey conducted in April 2024 with 473 travel executives from seven global markets, highlights that 70 percent of travel companies find

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EPI launches wero wallet in Germany

Finextra

The European Payments Initiative (EPI) has launched its mobile-first wallet and instant account-to-account payments system in Germany, with other counties set to follow in the coming months.

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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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Wirex and Visa Integrate Blockchain Technology with Traditional Finance in Latest Partnership

The Fintech Times

Wirex , a Web3 money app, is partnering with digital payments giant Visa to further the use of digital currencies in the UK and the European Economic Area (EEA). As part of the partnership, Wirex is also launching Wirex Pay, a new modular Zero Knowledge (ZK) payment chain designed to change how users manage and spend traditional currencies, as well as crypto.

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S&P’s gen AI tool provides up to 60% efficiency gains

Bank Automation

Data insights company S&P Global is developing internal- and external-facing generative AI tools to boost efficiencies — and it hopes to monetize the technology by offering it to customers.

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Zelle, big banks challenge senators on scam reimbursements

Payments Dive

Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.

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MBTA to switch on contactless payments across Boston’s public transportation network

NFCW

SWITCHED ON: MBTA is enabling public transport users to pay for travel using their contactless cards Public transportation users in the Greater Boston area will be able to use a contactless debit or credit card to pay for their fares on buses, Green Line trolleys, Mattapan Line trolleys, and at all gated subway stations from 1 August 2024, the Massachusetts Bay Transportation Authority (MBTA) has announced. “Riders with weekly or monthly passes or those who would like to continue to use th

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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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Backbase Sets Up Its First Global AI Center in Vietnam

Fintech News

Digital banking software provider Backbase has launched its first global Center of Excellence (COE) for Artificial Intelligence (AI) in Ho Chi Minh City, Vietnam. The COE, led by Backbase’s Head of AI Chris Shayan, will focus on developing AI solutions to enhance customer engagement and business outcomes in the banking sector. Located near Saigon Center in District 1, the COE will host a team of engineers specialising in web, mobile, backend, AI, and machine learning, and large language mo

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Tim Berners-Lee unveils data wallet

Finextra

Tim Berners-Lee is eying the next phase of the web as his company Inrupt launches a white-label "data wallet" that lets people store, manage and share their data.

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What Will the Payments Market Look Like Now Apple has Released its NFC Tech to the World?

The Fintech Times

For four years, Apple has been making its case to the EU that it is not monopolising the payments and technology markets by restricting who can use its tech. In order not to face heavy fines, Apple has allowed its rivals access to its tap-and-go payments technology through its NFC chip, free of charge. But how impactful will this be on the payments market and what consequences might Apple face as a result?

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CFPB proposes earned wage access rule

Bank Automation

The Consumer Financial Protection Bureau proposed an interpretive rule affecting earned wage products, or paycheck advance products, ensuring that employees are aware of costs and fees for these services, according to today’s CFPB release. Paycheck advance products allow employees real-time access to earned wages.

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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.