Sat.May 04, 2024 - Fri.May 10, 2024

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Jack Henry, Visa see escalating FedNow volume

Payments Dive

While the Federal Reserve won’t specify payments volume on the new instant system, executives from certified service providers Visa and Jack Henry said they’re seeing an increase.

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Tenity and XDC invite applications for Web3 accelerator

Finextra

Tenity, a leading innovation ecosystem and vc-backed accelerator for early-stage startups, announced the launch of the XDC Accelerator Program and invited startups to build on the XDC Network.

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Test clocks: How we made it easier to test Stripe Billing integrations

Stripe

Stripe Billing allows businesses to manage customer relationships with recurring payments, usage triggers, and other customizable features.

Payments 139
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CFPB fines Chime $3.25M

Bank Automation

Chime Financial was fined $3.25 million by the Consumer Financial Protection Bureau today as the digital bank has failed to give timely consumer refunds. According to Chime’s refund policy, the company is required to issue consumer refunds within 14 days.

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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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CFPB, DOT take aim at airline rewards

Payments Dive

The two agencies raised concerns that airlines and card companies could arbitrarily devalue points accrued in their joint rewards programs, amounting to a bait-and-switch for customers.

CFPB 163
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US Elections: Stand With Crypto forms committee to support pro-crypto candidates

Finextra

Nonprofit pro-cryptocurrency group Stand With Crypto has formed a political action committee (PAC) to support candidates who are encouraging of cryptocurrency and blockchain developments in the upcoming US elections.

More Trending

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Grasshopper Bank begins rollout of SBA lending strategy

Bank Automation

Small businesses demand efficient access to capital and Grasshopper Bank is meeting the needs of its small business clients through its latest digital lending solutions.

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Merchants urged to file claims for $5.5B payment card settlement

Payments Dive

Requests for a slice of the Visa-Mastercard settlement are due by a May 31 deadline. Lawyers are racing to alert eligible businesses.

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NAB to launch Pay by Bank for Australian merchants

Finextra

Australian Big Four bank NAB is partnering with Banked to launch Pay by Bank capabilities, leveraging Australian open banking rails PayTo to settle near-instant transactions.

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Dubai FinTech Summit 2024: Highlights from the Two-Day DIFC Event

The Fintech Times

From AI and blockchain to sustainable investing and digital economies, the second edition of the Du b ai FinTech Summit has put the spotlight on emerging fintech trends and their potential to drive financial progress in the region. The two-day event, organised by Dubai International Financial Centre (DIFC) – the global financial centre in the Middle East, Africa and South Asia region, took place at the Madinat Jumeirah Conference Centre and it was certainly a bustling, tightly-packed affai

FinTech 115
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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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Bank of Thailand Concludes Retail CBDC Pilot Programme, Reveals Key Findings

Fintech News

As digital technologies continue to transform the financial landscape, central banks worldwide are exploring the potential of Central Bank Digital Currencies (CBDCs). Thailand, under the guidance of the Bank of Thailand (BOT) , has been at the forefront of this movement, continuously studying and testing the feasibility of a Retail CBDC since 2018. The country’s latest milestone, the Thailand Retail CBDC (RCBDC) Pilot Programme, marks a significant step forward in understanding the implica

CBDC 120
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How to reduce risk and save cash with Pull-ACH

Payments Dive

Finance leaders are in a unique position to reduce costs and increase revenue by evolving payment processes.

ACH 158
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Visa applies generative AI to clamp down on brute force attacks

Finextra

Visa is introducing a generative AI tool to assign real time risk scores to transactions in a bid to stop enumeration attacks that use automated scripts and botnets to test for vulnerabilities.

AI 129
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Visa Combats Enumeration Attacks With New Generative AI-Powered Anti-Fraud Tool

The Fintech Times

Enumeration attacks, where threat actors use automated scripts or botnets to repeatedly submit card-not-present (CNP) transactions using different combinations of payment values, such as a primary account number (PAN), a card’s verification value (CVV2), expiration date and postal code, cause as much as $1.1billion annually in fraud losses. Recognising the significance of this type of fraud, payments giant Visa has updated its Visa Account Attack Intelligence (VAAI) with a new tool that uses gen

AI 110
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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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Money20/20 Asia Concludes Inaugural Event, Sets Stage for 2025 Return

Fintech News

The inaugural Money20/20 Asia conference wrapped up its three-day event at the Queen Sirikit National Convention Center in Bangkok from 23rd to 25th April, featuring fintech discussions, international networking and collaborations. The conference drew over 3,000 participants from 87 countries, including 24 nations across the Asia Pacific region. Notably, the event featured over 250 speakers from Asia, with 45% being female executives and more than 60% holding C-suite positions.

Returns 117
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Mastercard joint venture starts operations in China

Payments Dive

The collaboration with a Chinese entity began Wednesday, with processing of cards issued by banks in the country following years of preparations.

Visa 116
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US FS giants explore multi-asset settlement using share ledger tech

Finextra

A host of major US financial services firms - including Citi, JP Morgan, and Visa - are taking part in a Regulated Settlement Network (RSN) proof-of-concept that will explore multi-asset settlement using shared ledger technology.

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Paymentology Supports Diamond Trust Bank to Drive Financial Inclusion in Kenya

The Fintech Times

Paymentology , the global issuer-processor, has joined forces with Diamond Trust Bank , a tier-one East African commercial bank, in a move hoping to help drive financial inclusion in Kenya through the embedding of financial services, and deployment of Cards-as-a-Service (CaaS). Paymentology and Diamond Trust Bank (DTB) will provide an aggregated card solution to fintechs and any other non-financial organisations in Kenya that want to embed a CaaS programme as part of their proposition in line wi

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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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Thailand-India QR Payment Link to Launch by Q3 2024

Fintech News

The Bank of Thailand is gearing up to introduce a QR code-based cross-border payment system between Thailand and India, anticipated to be operational by the third quarter of 2024, according to Bangkok Post. Announced by Dr Daranee Saeju, Assistant Governor, Payment Systems Policy and Financial Consumer Protection Group, Bank of Thailand at the recent Money20/20 Asia event in Bangkok, this move aims to enhance the speed and security of international transactions.

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Fed, TCH joust over interoperability

Payments Dive

When it comes to bridging the FedNow and RTP networks, officials at the Federal Reserve and The Clearing House have slightly different priorities.

TCH 102
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Global mobile banking malware surges 32%

Finextra

Global mobile banking trojan attacks on Android users grew by a third in 2023, while cryptocurrency-related phishing also saw a sharp increase, according to a Kaspersky report.

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Navigating Compliance Challenges with FloQast: Inside the New Enhancements to FloQast Compliance Management

FloQast

In the intricate dance of modern business, compliance programs serve as vital navigational guides, steering organizations through a labyrinth of regulations and risks. Compliance ensures transparency and market integrity for publicly traded companies, while private enterprises leverage potentially game-changing insights for strategic decision-making.

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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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Martin Frick Succeeds Olivier Berthier as Moneythor CEO

Fintech News

Moneythor, a provider of personalisation solutions for financial institutions, announced the appointment of Martin Frick as its new CEO. Martin Frick succeeds Olivier Berthier, co-founder of Moneythor , who will now serve as Chairman. Berthier will continue to offer strategic guidance to sustain the company’s momentum. As CEO, Frick aims to accelerate the company’s growth and strengthen its market presence.

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BNPL users tend to have lower incomes: Bank of America

Payments Dive

The bank analyzed its BNPL user data and discovered low-income consumers are more likely to use installment payment services. It’s also popular among Gen X consumers.

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Exploring UK Fintech: Growth, Disruption, and Future Trends

Finextra

At IFGS 2024, Clare Gambardella, Chief Customer Officer at Zopa Bank, breaks down the success factors driving the UK fintech scene. From regulatory agility to consumer demand and access to funding, we discuss what sets the UK apart, major tech disruptors such as contactless payments and open banking, and the evolving needs of the next generation of consumers.

FinTech 122
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AI and Machine Learning in Fintech: Transforming Financial Services

Fintech Review

The fintech sector is currently undergoing a significant transformation, with artificial intelligence (AI) and machine learning at the forefront of this change. These technologies are transforming how financial services operate, injecting unprecedented levels of efficiency and innovation. Machine learning is particularly transformative in various fintech applications, such as personalised financial advice and risk assessment, marking a transformative shift in financial methodologies towards more

AI 98
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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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AWS Invests S$12 Billion in Singapore, Launches Flagship AI Programme

Fintech News

Amazon Web Services (AWS) announced that it is set to invest an additional S$12 billion into Singapore’s cloud infrastructure by 2028 during the 10th AWS ASEAN Summit , aiming to bolster its services amid increasing demand. According to a new AWS Economic Impact Study , this investment is projected to contribute S$23.7 billion to Singapore’s GDP by 2028 and support an estimated 12,300 jobs annually across sectors like construction, engineering, and telecommunications, essential to the AWS

AI 110
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UK challenger bank Monzo nabs another $190M as US expansion beckons

TechCrunch Fintech

Monzo has raised another £150 million ($190 million), as the challenger bank looks to expand its presence internationally — particularly in the U.S. © 2024 TechCrunch. All rights reserved. For personal use only.

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Fortifying the UK's Position as a Global Fintech Hub

Finextra

Join FinextraTV at IFGS 2024 as Richard Davies, CEO of Allica Bank, sheds light on the UK's potential to become a global fintech hub. We discuss the steps the UK must take to solidify its industry leading position, including diversifying financial service providers, fostering fintech growth, nurturing global champions, and gaining insight into the role the government has in shaping the fintech ecosystem with key policy recommendations to drive innovation and scalability.

FinTech 115
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What is the Terminated Merchant File?

Fi911

For businesses, the Terminated Merchant File (TMF) is an unwelcome designation analogous to a “no-fly list” for credit card processing. This blacklist is maintained by Mastercard. Alternatively known as the MATCH List, seeks to safeguard banks from extending acquiring services to high-risk enterprises. In certain circumstances, such as excessive chargebacks, data breaches, fraudulent activities, or violation of regulations, a merchant’s account may be terminated.

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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.