Sat.Mar 16, 2024 - Fri.Mar 22, 2024

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How to maximize agility and automation with rules-based payment processing

Payments Next

By Michael Meeks, CTO of BHMIThe payments industry is changing so rapidly that many payment processing companies are struggling to keep pace. The post How to maximize agility and automation with rules-based payment processing first appeared on Payments NEXT.

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Digital wallets to overtake debit cards in stores: report

Payments Dive

Having already dominated e-commerce transactions, digital wallets are projected to overtake at least one traditional form of payment in stores, according a Thursday report by Worldpay.

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Teranode Realises the Potential of Blockchain Technology

The Fintech Times

Blockchain, heralded for its potential to transform industries, is currently undergoing a divergence from its original vision, marked by a prioritisation of speculative interests over core principles like scalability and decentralisation. Calvin Ayre, venture capitalist and founder of Ayre Group, a global enterprise supporting real estate projects, businesses, and technologies, shares insights centred on the BSV Blockchain’s Teranode scaling solution.

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Digital wallets play key role in US lawsuit against Apple

Finextra

The US has filed a lawsuit against Apple, accusing the firm of monopolising the smartphone market through a host of actions, including the blocking of third-party apps from offering contactless payments.

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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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Nsave gets $4M to enable people from unstable economies open offshore accounts

TechCrunch Fintech

Nsave, a fintech based in Geneva making banking in Switzerland accessible to people in countries at war or those with unstable banking sectors or facing high inflation, has raised $4 million seed funding. The round was co-led by Sequoia Capital and TQ Ventures with participation from Y Combinator, SV Angel and FONGIT: the State of […] © 2024 TechCrunch.

Economy 131
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Meta’s payment plays may pay off this year: report

Payments Dive

A partnership between tech giants Meta and Amazon “could represent the tipping point of transforming social media into a transaction platform,” Mizuho Securities analysts said in a report this week.

More Trending

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UK set for soaring digital wallet adoption

Finextra

The UK is approaching a seismic shift in how people pay, with digital wallets set to comprise half of all e-commerce spend and nearly a third of POS transaction value by 2027, according to a report from Worldpay.

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Singapore Users Can Now Top up GrabPay Wallet Using Stablecoins

Fintech News

Southeast Asian ride-hailing super app Grab has teamed up with licensed crypto payments provider Triple-A to introduce a feature that allows its users to top up their GrabPay Wallets using Digital Payment Tokens. This initiative aims to offer users more convenience by enabling the conversion of digital currencies, like stablecoins, into spendable funds within their GrabPay Wallets.

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Fed banks analyze consumer use of card promos

Payments Dive

New research from the Philadelphia and Boston Feds finds that consumers are cycling through low APR credit card offers.

Fed 166
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Now is the time to reimagine wealth management

Bank Automation

The Music is Starting to Stop Recent years have been extremely lucrative for wealth advisors; both the independents and full-freight firms. Low cost of capital, booming public markets, and a growing desire to diversify into new products are all ways wealth management firms can grow AUM and, as a result, grid payouts.

Advisors 124
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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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Monzo mafia form startup to make coders extinct

Finextra

The Monzo mafia are back in business, with former co-founder Jonas Templestein and ex-VP of architecture Oliver Beattie on the hunt for funds for a new startup that aims to build generative AI coding tools.

AI 124
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New Nacha Rules Take Aim at Credit-Push Fraud

NACHA

HERNDON, Virginia, March 18, 2024 – Nacha members have approved a set of rules intended to reduce the incidence of frauds, such as business email compromise (BEC), that make use of credit-push payments. The new rules establish a base-level of ACH payment monitoring on all parties in the ACH Network (except consumers). While the new rules do not shift the liability for ACH payments, for the first time receiving financial institutions (RDFIs) will have a defined role in monitoring the ACH payments

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3 pieces of modern infrastructure needed to manage tech-disrupted finance flows

Payments Dive

Soon, all payments will begin and end with software. Which innovations should companies prioritize now?

Finance 158
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Ethiopian Remittances Market Bolstered Under New M-PESA Safaricom and Onafriq Partnership

The Fintech Times

Looking to make financial services more accessible, M-PESA Safaricom has signed an International Money Transfer Agreement with Onafriq , the African digital payments network, to enable Ethiopian users to receive remittances from different parts of the world through M-PESA. Individuals do not need a bank account, something which has historically been challenging for some to acquire in Ethiopia, to send remittances.

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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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Railsr proposes merger with Equals Group

Finextra

Embedded Finance, Railsr's parent company, has approached Equals Group for a merger of the two companies, Sky News reports.

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The Rise and Fall of BNPL: Is the Due Date Near for ‘Pay Later’ Services?

Fintech News

The global flirtation with Buy Now Pay Later (BNPL) services seems to be coming undone, as new data on consumer payments unveils a significant drop in the appetite for this contentious credit payment approach. BNPL experienced a surge and became the favourite of venture capitalists during lockdowns as e-commerce shoppers, idle at home, seized the opportunity of short-term finance to distribute the expense of both impromptu and deliberate online buys across several payments.

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Fifth Third CIO: Chatbot 97% accurate in classifying customer intent

Bank Automation

NASHVILLE, Tenn. — Fifth Third Bank says that added efficiencies to its chatbot have boosted its accuracy rate as it leans into generative AI.

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Can the Future Really be Cashless, as Greggs & Sainsbury’s Unable to Take Card Payments

The Fintech Times

Cash could be making a comeback. No really. After years of pushing to a fully digital payments landscape that will in theory see a cashless economy in the (reasonably) near future, it could all come tumbling down after a series of technical issues that has seen major retailers unable to process card or contactless payments and once again relying on notes and coins.

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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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Central banks adopt LLMs to extract climate risk data from corporate reports

Finextra

The Bank for International Settlements has completed proof-of-concept testing of Project Gaia, an initiative conducted in concert with three central banks to explore the use of natural language processing, optical character recognition and machine learning to extract climate-related data from corporate reports.

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YC-backed digital bank Onyx Private tells customers it’s closing their accounts

TechCrunch Fintech

Miami-based Onyx Private, a Y Combinator-backed digital bank that provided banking and investment services for high-earning Millennials and Gen Zers, is terminating its bank operations. In a March 13 email to a customer viewed by TechCrunch, with a subject line that read: “Important Notice: Termination of Bank Operations and Account Closure” Onyx wrote, “We are […] © 2024 TechCrunch.

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Mastercard Partnership with Alipay Offers Faster, Secure Remittances to China

Fintech News

Payment giant Mastercard has announced a new partnership with Ant Group’s digital open platform Alipa y to expand its cross-border payment services to facilitate quicker and more secure money transfers to China. Mastercard’s initiative is expected to be a boon for consumers seeking reliable ways to conduct global transactions. According to the company’s Borderless Payments Report , a majority of consumers expressed a preference for online international payments, citing speed an

Visa 111
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Alipay+ Expands to Help European Merchants Connect With Asian Travellers in Build Up to EURO 2024

The Fintech Times

Ant International , the Asia-based one-stop digital payment and financial services platform for SMEs, is kicking off a global campaign to engage with fans globally in the lead-up to UEFA EURO 2024 , of which it is an official partner. Taking place from 14 June to 14 July, UEFA EURO 2024 will hit ten host cities around Germany, culminating in the finals at the Olympiastadion in Berlin.

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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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UK fintech to be elevated to 'ubiquitech' with Smart Data Roadmap, new report reveals

Finextra

Chair of the Ubiquitech Group Dr. Ruth Wandhöfer has released a report offering practical recommendations for bolstering a digital economy that builds trust, provides access to sustainable infrastructure and secure data highways, and accelerates digital inclusion and education.

Economy 122
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Accelerated Digital Transformation and Business Benefit in 2024: Interview with Peter Lemon

Fintech Review

In an interview with Fintech Review , FICO ‘s Peter Lemon discusses the rapid digital transformation in finance for 2024. We delve into the anticipated progression of digital transformation in banking this year, as IT teams transition to becoming innovators and revenue generators. There is a shift towards enterprise-wide technology to improve agility and customer service.

AI 104
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Bank of America’s CashPro Chat reaches 60% adoption

Bank Automation

NASHVILLE, Tenn. — CashPro, Bank of America’s business banking platform, is seeing increased adoption as features and services are added.

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Mukuru Distributes Aid Across Africa Following Expansion to Uganda

The Fintech Times

South Africa-based money transfer platform, Mukuru , has distributed aid to disadvantaged recipients in Africa, helping people impacted by COVID-19 lockdowns and other economic issues. Mukuru is using its platforms to help businesses transfer cash around the countries it currently operates, using its existing network. It also has plans to roll out aid transfers to more countries as it helps several UN organisations and other aid NGOs such as the United Nations Children’s Fund , Food and Ag

Audit 103
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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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Ethiopian bank glitch lets customers withdraw millions

Finextra

Commercial Bank of Ethiopia has lost more than £31 million after a technical glitch let customers withdraw and transfer money that was not in their accounts.

Accounts 126
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Singapore Users Can Now Top up GrabPay Wallet Using Crypto and Stablecoins

Fintech News

Southeast Asian ride-hailing super app Grab has teamed up with licensed crypto payments provider Triple-A to introduce a feature that allows its users to top up their GrabPay Wallets using Digital Payment Tokens. This top-up method went live on 12 March 2024. This initiative aims to offer users more convenience by enabling the conversion of digital currencies into spendable funds within their GrabPay Wallets.

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Ramp CEO says the fintech startup is just scratching the surface

TechCrunch Fintech

Fintech exploded over the last five years. Startups in the category raised more than $350 million in VC funding from 2019 through 2023, according to data from CB Insights. Despite all that growth, Eric Gylman, the co-founder and CEO of Ramp thinks that the industry, and companies like his, are just scratching the surface. Glyman […] © 2024 TechCrunch.

FinTech 101
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Alternative Flexible Funding is a Lifeline for UK SMEs Struggling With Cash Flow

The Fintech Times

Cash flow and funding have emerged as the biggest concerns UK small to medium businesses (SMEs) are facing according to research by fintech lender, Nucleus Commercial Finance. A survey that took in the views of more than 1500 small British businesses showed that one in five (21 per cent) of SMEs plan to apply for a business loan within the next six months.

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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.