Fintech Finance

NOVEMBER 18, 2024

The current cross-border payment system imposes high costs on businesses and economies worldwide, stifling economic potential and limiting financial inclusivity. Global corporations move $23.5 trillion across countries annually—around a quarter of global GDP—at an estimated cost of $120 billion in transaction fees annually. Any improvement in the efficiency of cross-border transactions would, therefore, lead to considerable benefits for businesses and individuals globally.

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Cross-Border Payments Cross-Border Transactions Financial Inclusion 130

Payments Dive

NOVEMBER 19, 2024

Executives from the card networks were on the defensive Tuesday when members of the Senate Judiciary Committee berated them over high fees merchants must pay to accept credit card payments.

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Visa Credit Cards Payments 158

Finextra

NOVEMBER 20, 2024

Moss, a leading innovator in B2B spend management solutions, has partnered with Airwallex, the leading global payments and financial platform for modern businesses, to embed global bank transfers and expand operational capabilities, supporting Moss’ international growth ambitions.

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B2B Global Payments Innovation Payments 129

Fintech News

NOVEMBER 20, 2024

PayPal has announced that its disbursement partners can now use PayPal USD (PYUSD) to settle cross-border money transfers via Xoom, its digital remittance platform. Xoom, a PayPal service, offers digital remittance services in over 160 countries, providing users with a convenient platform to send money, pay bills, and reload phones. This move aims to reduce the cost and increase the speed of international money transfers by leveraging blockchain technology.

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Cross-Border Cross-Border Payments PayPal Financial Inclusion 107

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

Payments

PCI Security Standards

NOVEMBER 18, 2024

Welcome to our podcast series, Coffee with the Council. I'm Alicia Malone, Senior Manager of Public Relations for the PCI Security Standards Council. Recently, PCI SSC published a new information supplement called PCI DSS Scoping and Segmentation Guidance for Modern Network Architectures. This document was produced by the 2023 Special Interest Group, also called a SIG, who spent a year collaborating on this project, which was led by the Council's own Kandyce Young, Manager of Data Security Stand

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PCI DSS Data Security Security Participant 101

Basis Theory

NOVEMBER 20, 2024

The last quarter of the year got off to a great start with the release of Token Intents and Bank Verification enrichment. Read on for more information. Token Intents We released Token Intents , short-lived resources that can take card details, including CVC, directly from Elements for the purpose of authorization. These token intents allow merchants to authorize the received card details (within a 48-hour window) without first needing to create and store a token in the Vault.

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Fintech News

NOVEMBER 20, 2024

GXS Group is set to launch its business banking services in early 2025, starting with Singapore, as part of its efforts to expand offerings and serve underserved segments across Southeast Asia. The services will initially target sole proprietorships and micro-businesses. This will include business operating accounts and unsecured credit lines with flexible features like daily interest crediting, no early repayment fees, and savings for early loan repayments.

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Underserved Transactions Accounts FinTech 107

Bank Automation

NOVEMBER 18, 2024

Banks and credit unions prioritized digital integration in 2024, with 75% saying they increased their technology spend, according to a recent survey. More than 100 bank and technology company leaders were surveyed nationwide for research company Bank Director’s 2024 Technology Survey, released in September, which showed that throughout the year, banks and credit unions made […] The post 75% of FIs increased tech spend this year appeared first on Bank Automation News.

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The Payments Association

NOVEMBER 19, 2024

In today’s competitive landscape, implementing a card product can be a powerful addition for businesses looking to enhance customer loyalty, streamline expenses, or broaden their financial offerings. Yet, for many, the journey from concept to execution can be more daunting than anticipated. Designing and launching a debit or credit card product requires navigating a complex web of stakeholders and intricate processes.

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Fintech Review

NOVEMBER 20, 2024

In this exclusive Fintech Review interview, Adam Swartzbaugh, CEO of Almond FinTech , discusses transformative cross-border payment technology. Almond’s blockchain-driven Settlement Optimization Engine (SOE) addresses critical speed, transparency, and cost challenges in cross-border payments. The SOE optimises transaction routes and provides near-instantaneous settlement for financial institutions globally.

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Cross-Border Payments Cross-Border Multi-Currency FinTech 99

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Use Case

Fintech News

NOVEMBER 17, 2024

Maritime Commercial Joint Stock Bank (MSB) has chosen Backbase ‘s Engagement Banking Platform to modernise its digital banking services. The bank will work with Backbase and its partner, SmartOSC , to implement the platform and create a unified, customer-centric experience for its 5.4 million retail and 100,000 enterprise customers. This move is part of MSB’s ongoing digital transformation strategy to streamline its offerings and enhance customer service.

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Fintech Finance

NOVEMBER 18, 2024

Modulr , the embedded payments platform, today announces its acquisition of Nook , an innovative disruptor in accounts payable (AP) automation. Both companies share a mission to address inefficiencies, remove manual steps and enhance the security of business payments. These are significant concerns, as highlighted by Modulr’s survey of 250 accounting practices which revealed that nearly half (45%) of respondents spend over three hours per week on manual data entry.

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Automation Accounts Acquirers Embedded Payments 101

Payments Dive

NOVEMBER 18, 2024

In the wake of Illinois being sued over its landmark law exempting state taxes from the calculation of card interchange fees, other states are making little progress with the idea.

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Laws 88

Finextra

NOVEMBER 19, 2024

Islamic financial services provider Hejaz has launched Australia’s first-ever halal financial app to finally provide Australia’s growing Muslim community with convenient and simple access to a broad range of Shariah-compliant financial products and services.

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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

Best Practices

Fintech News

NOVEMBER 19, 2024

Over 50 speakers have already been confirmed to take the stage at Money20/20 Asia 2025 in Bangkok, Thailand. The conference returns for its second edition from 22 to 24 April 2025 at the Queen Sirikit National Convention Center. More than 3,000 people from 85+ countries attended in 2024, and next year’s show promises to be even bigger and better. Thirty-six leading names, including OpenPayd, Terrapay, Thunes, Chubb, Trulioo, and Nium, have already signed up as sponsors.

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APACS Cybersecurity On-Demand Innovation 102

Fintech Finance

NOVEMBER 20, 2024

Afterpay , a leading Buy Now, Pay Later (BNPL), announced today its flexible payment functionality will be available for consumers checking out online through Google Pay at select merchants. For consumers who are looking for more ways to pay this holiday season, they can now choose Afterpay at checkout to spread their purchases out in installments. According to an Afterpay survey, 1 in 3 shoppers considered using BNPL due to the convenience and flexibility it affords them, with Afterpay users ci

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BNPL Checks Consumer Finance 98

Payments Dive

NOVEMBER 20, 2024

After a year as CEO of the digital payments pioneer, Alex Chriss is spearheading an expanded role in commerce for the company.

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PayPal Payments Digital Payments 97

TechCrunch Fintech

NOVEMBER 20, 2024

An incident disclosure shared with Finastra's banking and financial customers confirms a hacker stole files from a company system. © 2024 TechCrunch. All rights reserved. For personal use only.

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Data Breach Breach FinTech Cybersecurity 89

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Payments

Fintech News

NOVEMBER 17, 2024

Crypto.com has acquired a brokerage and trading firm Fintek Securities regulated by the Australian Securities and Investments Commission. This acquisition will allow Crypto.com to expand its offerings for its eligible users in Australia to include deposit products, derivatives, securities, foreign exchange, and managed investment schemes. This move follows the firm’s recent acquisition of the US-based, SEC-registered firm Watchdog Capital, LLC, marking the second acquisition aimed at bolst

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Acquirers Security Regulations Product 112

Fintech Finance

NOVEMBER 18, 2024

eNovate , formerly eCards, a subsidiary of eFinance Investment Group, has joined forces with Mastercard to bring Card-as-a-Service (CaaS) solution to the Egyptian market. The CaaS model will provide banks, non-financial institutions, universities and fintechs with a comprehensive suite of digital payments services. The collaboration will see eNovate leverage Mastercard expertise in payment technology to further reinforce its position in building ready to market hubs for businesses to drive digit

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Visa Non-Bank Payments Financial Inclusion 104

Payments Dive

NOVEMBER 20, 2024

The fintech couches its “cash out” product as earned wage access, but it’s a loan that, at times, carries 300% interest with a poorly disclosed fee for “instant” payouts, the AG said.

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Finextra

NOVEMBER 18, 2024

The Spanish banking community has become the first EU market to enable instant cross-currency payments under the European Payment Council's OCT Inst (One-Leg Out (OLO) Instant Credit Transfer scheme.

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Cross-Border Payments Cross-Border Payments 97

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.

Payments

Fintech News

NOVEMBER 19, 2024

Banking software provider Temenos has partnered with NVIDIA to offer banks on-premises generative AI solutions. This collaboration will enable banks to leverage the power of AI for real-time insights while maintaining data security and control. By combining Temenos’ banking expertise with NVIDIA’s advanced AI platform, including NVIDIA GPUs and NVIDIA AI Enterprise software, banks can utilise unstructured data more effectively.

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AI Money Laundering Privacy Innovation 97

Fintech Finance

NOVEMBER 19, 2024

PayFuture , a leading global payment technology provider, has launched its operations in Pakistan, creating new opportunities for international businesses to engage with one of South Asia’s most dynamic ecommerce markets. With PayFuture’s advanced payments technology and deep regulatory knowledge, businesses can now navigate the complexities of this high-potential market with ease.

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Cross-Border Payments Regulatory Compliance Cross-Border Fraud Prevention 98

Payments Dive

NOVEMBER 20, 2024

"Nonprofits and charities need every penny they can get to make effective change in times of crisis, yet big banks and credit card companies continue to take their cut," writes one policy analyst.

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Finovate

NOVEMBER 18, 2024

Qover, an insurtech based in Brussels, Belgium, has partnered with Mastercard to provide return shipping cost protection when retailers do not offer free returns. The service is available to Mastercard credit cardholders in Belgium and Luxembourg; Qover plans to expand the service to additional European countries. Qover made its Finovate debut at FinovateEurope 2018 in London.

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Visa Returns Automation Credit Cards 97

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Fintech News

NOVEMBER 17, 2024

Banks throughout the world have accelerated down the road of technological advancement in the last decade. And for good reason: those who fail to advance, become obsolete. The pressure to stay ahead continues to mount as customers demand more immediate and user-friendly experiences. Enter fintechs, like the Philippines-based Salmon, who leverage agility, talent, and innovation to not only compete and collaborate with banks, but acquire banks and transform into full-fledged financial institutions

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Fintech Finance

NOVEMBER 20, 2024

FinMont , a leading global payment orchestration platform, is pleased to announce its partnership with The Lufthansa Group, one of the world’s leading airlines. The Group works with FinMont on its innovative payment platform, enhancing B2B payment processes. This new partnership will also incorporate Camino Network’s blockchain solution built specifically for the travel industry to document all transactions.

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Global Payments B2B Payments B2C 97

Payments Dive

NOVEMBER 21, 2024

In finalizing the new rule to oversee digital wallet providers Thursday, the Consumer Financial Protection Bureau said it made important changes to its initial proposal.

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The Fintech Times

NOVEMBER 19, 2024

The UK public is largely unaware of new regulations forcing UK banks to reimburse victims of payment scams, weeks after coming into effect, anti-fraud fintech Tunic Pay has revealed. On 7 October, the Payment Systems Regulator (PSR) mandated that all UK banks must repay customers who are victims of payment scams up to £85,000 per case. However, a Tunic Pay survey of 2,000 UK adults, conducted by independent market research consultancy Opinium , reveals that less than three in ten (29 per cent)

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Scams Rules Payments Regulations 82

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.

Continuity