Fintech News

MARCH 18, 2024

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. As global economic activities continue to recover, demand for cross-border payments will only increase.

Visa 110

Visa Cross-Border Cross-Border Payments Security 110

Global Fintech & Digital Assets

DECEMBER 18, 2023

General use would therefore encompass most forms of person-to-person (P2P) and consumer-merchant fund transfers by or on behalf of a consumer to another US-based person for personal, family, or household purposes. Importantly, the proposal specifically states that the covered person does not actually need to ever hold the funds.

CFPB 75

CFPB Regulations Consumer Financial Protection Bureau (CFPB) Non-Bank 75

The Fintech Times

MARCH 9, 2024

Wert , a payment solution provider facilitating fiat payments in the Web3 space, has broadened its card acceptance capabilities in collaboration with payment processor Worldpay , encompassing the inclusion of JCB, American Express, and Discover cards within its integrated payment system.

Electronic Funds Transfer (EFT) 114

Electronic Funds Transfer (EFT) NFTs Funds Transfer Facilitators 114

Stax

JULY 9, 2024

The world of Electronic Funds Transfer (EFT) payments is vast, spanning just about every payment method you can think of. TL;DR An Electronic Funds Transfer is an umbrella term for payments that are conducted electronically—essentially, any payment method except for cash and paper checks. EFT payments are fast.

Electronic Fund Transfer Act (EFTA) 88

Electronic Fund Transfer Act (EFTA) ACH Electronic Funds Transfer (EFT) Funds Transfer 88

Finovate

AUGUST 6, 2024

The company’s API facilitates seamless fund transfers between bank accounts and cards, providing a fast, secure, and built-for-scale alternative to traditional fund transfer methods such as ACH. Astra offers a platform for instant payments that enables product teams to embed payments into their solutions.

Instant Payments 59

Instant Payments Deposit Account Payment APIs and Integration Credit Union 59

Fintech Finance

JULY 9, 2024

Amadeus, a global leader in the travel tech industry, launched Outpayce last year as a standalone entity to evolve its travel payments business, facilitating B2B payments to the travel industry. Last year, Amadeus processed more than $160 billion in payments amongst its customer-bases worldwide.

B2B 98

B2B Multi-Currency Embedded Finance Funds Transfer 98

EBizCharge

JULY 18, 2024

Understanding an EDI payment and how it differs from Automated Clearing House (ACH) and Electronic Funds Transfer (EFT) is pivotal for efficient financial operations in an increasingly digital world. Understanding the differences between EDI payments, ACH, and EFT is crucial when considering the electronic transfer of funds.

ACH 52

ACH Transactions Payments Funds Transfer 52

EBizCharge

MAY 15, 2024

Business-to-business payments play a crucial role in commerce by allowing companies to process payments with each other using specific payment methods and key players to facilitate these transactions. Payment Authorization: Before the funds are transferred, the payment may undergo authorization processes to ensure security and legitimacy.

B2B 52

B2B Wire Transfer Payments Payment Gateways 52

The Fintech Times

JULY 11, 2024

Amadeus , a travel tech firm, launched Outpayce last year to evolve its travel payments business, facilitating B2B payments to the travel industry. Our scalable and flexible approach will allow the travel tech leader to serve multiple digital payment use cases and facilitate integration with best-of-breed technologies.”

Multi-Currency 45

Multi-Currency Embedded Finance Payments Funds Transfer 45

Finovate

AUGUST 12, 2024

LianLian, which specializes in cross-border settlement services with instant payouts, selected Thredd to power its Yueda virtual card product.

APACS 52

APACS Cross-Border Settlement Cross-Border Payments Cross-Border 52

Fintech Finance

JUNE 25, 2024

The Retail Services Category II License enables Nuvei to offer its comprehensive suite of payments technology to businesses operating in the thriving UAE market, including direct local acquiring, payment aggregation services, and domestic and cross-border fund transfers.

Central Bank 90

Central Bank Security Cross-Border Acquirers 90

Clearly Payments

DECEMBER 18, 2023

The Continued Surge of Contactless Payments Contactless payments , facilitated by tap-to-pay cards, mobile wallets , and wearable devices, are set to maintain their upward trajectory. payment landscape: Real-time Payments: Services like Zelle and The Clearing House RTP system are gaining traction for their swift and convenient fund transfers.

Payments Trends 102

Payments Trends Online and Mobile Banking Payment APIs and Integration Contactless Payments 102

EBizCharge

SEPTEMBER 18, 2024

ACH payments refer to electronic funds transfers (EFTs) between financial institutions using the ACH network. Payment codes are vital in facilitating the seamless movement of funds through the ACH network. They facilitate payroll, pension payments, or any recurring direct deposit to an individual’s bank account.

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ACH IAT ACH Network Direct Deposit 52

Payment Savvy

JUNE 18, 2020

According to analysts, in 2012, it was observed that SWIFT facilitated up to $6 trillion per day. However, contrary to what most people think, SWIFT does not do any of the fund transfers. Earlier, during the ear of World War II, Telex facilitated the formal way to send and receive data. In 2015, more than 6.1

SWIFT 52

SWIFT Funds Transfer Facilitators Correspondent Bank 52

The Fintech Times

JUNE 13, 2024

Sarie facilitates instant fund transfers within the Kingdom, enhancing both consumer convenience and business liquidity. These gateways handle the real-time authorisation and execution of payments, integrating with banking systems to facilitate swift fund transfers.

Instant Payments 59

Instant Payments Payment APIs and Integration ISO 20022 PCI DSS 59

Clearly Payments

MARCH 18, 2024

In recognizing the significance of FedNow, we attain a comprehensive understanding of the ongoing enhancements in digital cash transfers across the nation. It facilitates instantaneous fund transfers between bank accounts, operating seamlessly 24/7/365. billion transactions.

Credit Cards 105

Credit Cards Federal Reserve FedNow Online and Mobile Banking 105

Stax

JANUARY 17, 2024

Unlike payments facilitated by card networks like Visa or Mastercard, ACH payments are managed by a body called the National Automated Clearing House Association (NACHA). This also signifies the growing importance of ACH payment facilitators in the digital payments landscape. Let’s get started.

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ACH Facilitators ISVS Payment APIs and Integration 88

Fintech Finance

FEBRUARY 6, 2024

Aani simplifies the payment process by allowing instant fund transfers using only the recipient’s mobile number, email or a QR code, thus eliminating the need to ask for or remember complex IBANs. Aani enables secure real-time account-to-account payments within the UAE, simplifying transactions for both consumers and businesses.

FinTech 52

FinTech Funds Transfer IBAN P2P 52

Fintech News

APRIL 28, 2024

The collaboration aims facilitate seamless, real-time cross-border transfers between Indonesia and other countries. TOPOS RemiNet is an open remittance network leveraging blockchain technology to facilitate fast and cost-effective cross-border payments, enhancing global financial inclusivity.

Payment APIs and Integration 108

Payment APIs and Integration Cross-Border Cross-Border Payments Financial Inclusion 108

Fintech Finance

MAY 1, 2024

Nium’s advanced payment infrastructure and global network facilitate seamless fund transfers across borders, eliminating intermediaries and significantly reducing transaction times.

Cross-Border Payments 52

Cross-Border Payments Cross-Border AI Payroll 52

PYMNTS

JUNE 23, 2020

In Hong Kong, HSBC introduced an application programming interface (API) to facilitate real-time direct debit for their corporate customers. The Bank of Thailand is readying to commence work on new infrastructure aimed at streamlining financial transactions for the business sector, it recently announced.

Federal Reserve 106

Federal Reserve RTP Payment APIs and Integration Fed 106

Fintech Finance

APRIL 23, 2024

Artajasa operates the switching services banks and fintechs use to facilitate fast, secure, and reliable electronic transactions. The partnership will ensure seamless, real-time, cross-border transfers between Indonesia and the world. Nium’s extensive portfolio of licenses and registrations cover more than 40 countries globally.

Cross-Border Payments 52

Cross-Border Payments Cross-Border APACS Payments 52

Finovate

APRIL 17, 2024

The fintech is currently under regulatory scrutiny from the FDIC for allowing users in Russia, Pakistan, and Myanmar to open accounts and for facilitating fund transfers between Saudi Arabian businesses. Mercury was founded in 2017 and has since been entirely focused on serving small businesses and investors.

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Wire Transfer FDIC Wires Wire 52

Clearly Payments

APRIL 3, 2024

Payment processing is a critical component of modern commerce, facilitating the secure transfer of funds between buyers and sellers. This process is vital for businesses, as it enables them to accept payments through various methods, including credit and debit cards, electronic bank transfers ( EFT/ACH ), and digital wallets.

Process 45

Process Processors Online and Mobile Banking Payments 45

EBizCharge

AUGUST 28, 2024

This fundamental component of the banking industry enables the correct routing of funds for transactions such as direct deposits, wire transfers, and electronic funds transfers (EFTs). equivalent systems are designed to facilitate international transfers globally.

Wire Transfer 52

Wire Transfer Direct Deposit Wires Wire 52

EBizCharge

AUGUST 28, 2024

This fundamental component of the banking industry enables the correct routing of funds for transactions such as direct deposits, wire transfers, and electronic funds transfers (EFTs). equivalent systems are designed to facilitate international transfers globally.

Wire Transfer 52

Wire Transfer Direct Deposit Wires Wire 52

M2P Fintech

JANUARY 31, 2024

These modules work together to ensure that banking operations run smoothly, delivering efficiency, accuracy, and security. Here are the 7 modules that aid the FIs processes and facilitate day-to-day banking operations. 1. This crucial component guarantees streamlined FI o perations.

Fraud Detection 59

Fraud Detection CRM Regulatory Compliance Compliance 59

Clearly Payments

DECEMBER 5, 2023

In the intricate landscape of payment processing, merchants encounter a myriad of options, each playing a pivotal role in the facilitation of financial transactions. The Definition of a Payment Processor A payment processor is a financial service provider that facilitates transactions between a seller (merchant) and a customer.

Processors 52

Processors ISOs Payment APIs and Integration Payments 52

PYMNTS

DECEMBER 15, 2020

In B2B payments, added Visa Direct Vice President of Global Segments and Market Development Tim Summers , businesses don't care exactly how funds get from Point A to Point B, but the rails that facilitate the movement of funds must do so seamlessly. Fabrick, Nets Collaborate On Instant Payments.

Innovation 94

Innovation Cross-Border Payments Cross-Border Real Time Payments 94

Payment Savvy

JULY 3, 2024

As the preferred method for many, debit card transactions offer convenience, security, and immediate fund transfers, making them integral to modern commerce. The card network calculates the net settlement amounts for each participating bank and facilitates the transfer of funds between the issuing and acquiring banks.

Debit Card 52

Debit Card Process PCI DSS Processors 52

Faster Payments Council

MAY 17, 2021

RTP technology facilitates payments across all payment categories, including business-to-business (B2B), business-to-consumer (B2C), consumer-to-business (C2B), peer-to-peer (P2P), government-to-citizen (G2C), and account-to-account (A2A) transactions. Current status of RTP adoptions around the world How RTP is used? Why RTP is used?

RTP 88

RTP G2C C2B Real Time Payments 88

M2P Fintech

JULY 28, 2023

With minimal credit and regulatory risks involved, they are safe digital payment facilitators that deliver convenient transactions, freedom from debt, and rewards. Layering the debit card management system into the CBS enables complete financial management by streamlining fund transfers through organized and efficient processes.

Debit Card 52

Debit Card Payment APIs and Integration Reconciliation Fraud Detection 52

Clearly Payments

NOVEMBER 19, 2023

One pivotal tool that facilitates this global reach is the international merchant account. Unlike traditional merchant accounts, which typically have limitations on cross-border transactions, international merchant accounts facilitate transactions in various currencies and cater to a global customer base.

Cross-Border 52

Cross-Border Cross-Border Payments Accounts Multi-Currency 52

PYMNTS

JANUARY 3, 2019

3) that it had reached a settlement with USAA Federal Savings Bank over allegations that the bank violated the Electronic Fund Transfer Act, among other transgressions. The Consumer Financial Protection Bureau (CFPB) announced on Thursday (Jan.

CFPB 51

CFPB Consumer Financial Protection Bureau (CFPB) Error Resolution Funds Transfer 51

Nanonets

OCTOBER 23, 2023

  Moreover, it plays a critical role in risk management and facilitates business growth as your operations expand. By comprehending how funds are disbursed within your business, you can make informed financial decisions and ensure the financial health and sustainability of your company.

Electronic Funds Transfer (EFT) 52

Electronic Funds Transfer (EFT) Payer Payee Online and Mobile Banking 52

PYMNTS

JANUARY 4, 2019

Separately, UCPB , a lender based in the Philippines, has introduced a money transfer service between banks, allowing for instant fund transfers. Verdict reported that the new service, known as InstaPay, can let customers transfer funds to a limit of 50,000 PHP ($951.48

Instant Payments 67

Instant Payments Funds Transfer Online and Mobile Banking Payments 67

PYMNTS

FEBRUARY 25, 2020

In their announcement, Rapyd said it will wield Visa’s platform Visa Direct to facilitate real-time fund transfers to gig workers, for example. Today, nearly 65 percent of SWIFT’s cross-border payments are facilitated via gpi, with the service now operating with more than 3,900 members.

Cross-Border Payments 56

Cross-Border Payments Cross-Border SWIFT Debit Network 56