Sat.Aug 03, 2024 - Fri.Aug 09, 2024

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JPMorgan fires up biometric payments processing

Payments Dive

The biggest U.S. bank is piloting payments processing for biometric transactions, with plans to use it at the hamburger chain Whataburger, which lets customers pay with a face scan.

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Sneak Peek: 2024 Community Meeting Keynote Speakers

PCI Security Standards

Don’t miss out on an extraordinary opportunity to learn from the most influential minds in payment security. Join us at a PCI SSC Community Meeting to collaborate and stay informed on the newest advancements in global payments security and PCI Security Standards. As promised, our 2024 keynote speakers, Tom Koulopoulos and Dr. Bruce McCabe , will deliver captivating and enlightening sessions, as they are distinguished experts in the field.

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Nacha Welcomes Stronghold as a Preferred Partner

NACHA

RESTON, Virginia, Aug. 8, 2024 – Today, Nacha announced Stronghold as a Preferred Partner for ACH Experience and ISO 20022. Stronghold joins a select group of innovators that Nacha recognizes for offering products and services that align with Nacha's core strategies to advance the ACH Network.

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Truist lands Wells Fargo tech leader as CIO

Bank Automation

Truist is tapping Wells Fargo CIO of Consumer Technology Steve Hagerman to fill its chief information officer role. Hagerman was the “right person at the right time for our enterprise technology team,” a Truist spokesperson told Bank Automation News, noting that selecting a new CIO was a “thorough process.

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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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Toast aims to move beyond restaurants

Payments Dive

The payments service provider is known for working with restaurants, but seeks to make headway with convenience stores, grocery stores and bottle shops.

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Australia moves one step closer to roll out of Confirmation of Payee

Finextra

Australian Payments Plus (AP+) and the Australian Banking Association (ABA) have completed the design specs for a new national Confirmation of Payee service, providing another layer of protection against scammers.

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More Trending

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CloudPay, a payroll services provider, lands $120M in new funding

TechCrunch Fintech

In 1996, two companies, Patersons HR and Payroll Solutions, formed a venture called CloudPay to provide payroll and payments services to enterprise clients. CloudPay grew quietly over the next several decades, adding workflow automation features to maintain pace with upstart rivals. It’s still growing, CFO Andy Thomson assures TechCrunch. Thomson claims that CloudPay is handling […] © 2024 TechCrunch.

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FedNow ‘could lower fees’ in future, analyst reports

Payments Dive

The Federal Reserve instant payments system may cut fees after it attracts more financial institutions, or in the face of competition, a Wolfe Research analyst said, citing a FedNow official.

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Unveiling APP fraud trends: The PSR’s July 2024 report insights

The Payments Association

The PSR's July 2024 report on APP scams highlights growing fraud sophistication and the challenges for financial institutions, stressing the need for improved regulations and consumer protection.

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Fingerprint Cards AB Appoints David Eastaugh as Chief Strategy and Technology Officer

Fintech Finance

Fingerprint Cards AB (Fingerprints) today announced the appointment of David Eastaugh as the company’s Chief Strategy and Technology Officer. He will assume his position on August 19, 2024. David is a technology visionary in the fields of identity, data, and combating financial crime and fraud, with a diverse background that includes experience in startups, scale-ups, consulting, and corporations.

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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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CommBank halves customer scam losses

Finextra

Australia's Commonwealth Bank says it has cut customer scam losses in half in FY24 through a combination of new anti-scam technologies, cross-industry collaborations and customer education.

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US credit card balances climb to $1.14 trillion

Payments Dive

Consumer credit card debt delinquencies are also on the rise, particularly among younger consumers, according to a New York Federal Reserve report.

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Ripple Partners With DIFC Innovation Hub to Accelerate UAE Blockchain and Crypto Adoption

The Fintech Times

Ripple , the blockchain and crypto solution provider, is partnering with the Dubai International Financial Centre’s (DIFC) Innovation Hub, to accelerate blockchain and digital assets innovation in the UAE. Through the new partnership, Ripple and the DIFC Innovation Hub aim to jointly drive blockchain and crypto adoption amongst early-stage companies and scale-ups, while introducing and positioning the technology with traditional large strategic institutions and their use cases.

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Marqeta Signs Five-Year Deal with Varo Bank to Become Exclusive Issuer Processor in the US

Fintech Finance

Marqeta (NASDAQ: MQ), the global modern card issuing platform that enables embedded finance solutions for the world’s innovators, today announced it has signed a five-year deal with Varo Bank , N.A., the first nationally-chartered consumer techbank in the U.S., to become its issuer processor. Varo Bank offers services such as fee-free checking accounts, free ATM access at over 40,000 locations, cash advances and lines of credit, secured credit-building credit cards, instant payment solutions and

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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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NCA shuts down Scam-as-a-Service platform

Finextra

The UK's National Crime Agency has shut down a platform used by hundreds of criminals to defraud victims across the world through the use of spoofed phone calls.

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JPMorgan threatens to sue CFPB over Zelle

Payments Dive

The bank flagged government inquiries over its handling of P2P disputes in May, and said Friday it would consider litigation if the agency issues an enforcement action.

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Examining Thailand’s Fintech Landscape

The Fintech Times

A country renowned for natural and historical attractions, the Southeast Asian nation of Thailand also boasts a growing fintech ecosystem. The second-largest economy in the Association of Southeast Asian Nations (ASEAN) region after Indonesia, has a gross domestic product (GDP) per capita of just shy of $7,000 per person, making Thailand a high-middle-income economy.

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What are Large Language Models (LLMs)

Nanonets

Introduction We’ve all asked Alexa to play a song, or Siri to call someone, or ChatGPT to answer our questions. It’s quite fascinating how technology has advanced to a point where it can understand our intent and give us context aware responses. But what exactly is the technology behind all of this? Large Language Models (LLMs) are AI systems that can understand human language, and also generate context aware responses based on it.

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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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HDBank Launches Fully Digital Vikki Bank Powered by Thought Machine

Fintech News

Vietnam’s HDBank has launched its fully digital bank, Vikki Digital Bank, powered by Thought Machine ’s Vault Core technology. The new digital bank has already onboarded over 15,000 active users and processes US$50 million in monthly transactions. Vikki Digital Bank, developed by Galaxy FinX in partnership with HDBank, involved collaboration with leading industry partners such as Thought Machine, HyperVerge, Amazon Web Services (AWS), Mastercard, and Genesys.

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Shift4 strives to become ‘SpaceX of payments’

Payments Dive

Recent acquisitions and an expanded roster of clients that includes several sports teams are intended to help Shift4 dominate the payments space, the CEO said.

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‘Critical’ to Use ‘Verifiably Green Data’, Says Holon as it Partners With Dubai AI & Web3 Festival

The Fintech Times

Holon , an Australian-based Web3 infrastructure company, is partnering with the Dubai AI & Web3 Festival 2024, in a move to drive AI and property infrastructure integration within the Web3 and data storage sectors forward. The news follows the signing of a Memorandum of Understanding (MoU) by Heath Behncke , managing director of Holon, and a member of the festival’s advisory committee.

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The future of cross-border payments depends on collaboration

The Payments Association

Cross-border payments are the lifeblood of global trade. They fuel the import and export of goods and services, facilitate commodities and equities trading, and are vital to improving financial inclusion in the world’s poorer countries. So why are they still hampered by settlement delays, high fees and inefficiencies that block the path to business expansion to new markets?

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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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Finovate Global Philippines: Mynt’s Millions and Opening the Door for More Digital Banks

Finovate

This week’s edition of Finovate Global highlights recent fintech news from the Philippines. Philippine mobile payments company Mynt , the firm behind super app GCash , has secured an investment of $393 million courtesy of an investment from Mitsubishi UFJ (MUFG). The funding comes at virtually the same time as the company reported another $393 million investment, this one from Philippines-based conglomerate Ayala Corporation. “We are thrilled to welcome MUFG as a new strategic partne

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Capital One-Discover antitrust concerns may be overblown

Payments Dive

Capital One’s proposed acquisition of the smaller Discover seems “too small to be a core antitrust concern,” said Barry Barnett, an antitrust lawyer.

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Maximizing Efficiency with Order Management Automation

DeckCommerce

As the ecommerce industry grows by the minute, it has become clear to all business directors that efficiency in order management is crucial. As has happened with many other processes, automation has become a must to reach business goals and be competitive.

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Surprising findings from our analysis of 3DS transactions in the US

Stripe

Global businesses have told us they’re interested in replicating the fraud-prevention success seen in Europe by requesting 3DS. Last year, we had a front-row seat as several Stripe users chose to do exactly that, but the results in the US were very different from what we have seen in Europe.

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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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Happy Money Teams Up with Method Financial to Help Consumers Pay Debt

Finovate

Unsecured loan provider Happy Money announced a strategic partnership with Method Financial. Happy Money will use Method’s financial liability connectivity APIs to help credit union members better manage credit card debt. Headquartered in Austin, Texas, Method made its Finovate debut earlier this year at FinovateSpring in San Francisco. Happy Money , an unsecured loan provider that works with credit unions, has forged a strategic partnership with Method Financial.

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Apple services revenue rises with boost from payments

Payments Dive

The company said it raised a record $24.2 billion from services in the most recent quarter, a 14% year-over-year increase.

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E-commerce in Southeast Asia Soars with Thailand and Vietnam Leading in Growth

Fintech News

In 2023, e-commerce continued to expand in Southeast Asia, with the gross merchandise value (GMV) of the region’s top eight e-commerce platforms increasing by 15% year-over-year (YoY) to reach US$114.6 billion, according to Momentum Works’ “Ecommerce in Southeast Asia 2024” report. The figure represents a 2.1-fold increase from 2020, and showcases the rapid growth of e-commerce in the region.

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Google integrates Greenlight card into smartwatch for kids

Finextra

Users of Google's new kid-focused smartwatch will be able to connect a debit card from Greenlight Financial Technology for contactless payments.

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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.