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July 12, 2024

On the web

On the wires

July 11, 2024

Top Post

On the web

BNPL: Use Cases and Users Change with Market Growth

Atlanta Fed

"...While early use cases were for shoes and beauty products, a more mature view of buy now, pay later (BNPL) takes in families' needs to gain access to credit and smooth cash flow. Such users are more likely to use BNPL for essentials, not frills."

On the wires

July 10, 2024

Top Post

On the web

B2B E-remittance Exchange Pilot Complete: Industry One Step Closer to Achieving Straight-Through Processing

FedPayments Improvement

"From September 2023 through June 2024, the Business Payments Coalition (BPC) conducted an E-remittance Exchange Pilot with industry participants to exchange electronic remittance (e-remittance) information via an electronic delivery network, known as an exchange framework. The pilot confirmed that an exchange framework supports the sending, receiving and automation of e-remittance information. Due to the pilot testing success, the e-remittance data model is now available for integration into existing exchange framework networks."

Kenya’s Mobile Money Sector Soars After Removal of Airtel-M-Pesa Transfer Barriers

Innovation-Village

"Kenya’s mobile money landscape has experienced a significant boost, with subscriber numbers surging to 38.7 million following the removal of withdrawal codes for transactions between Airtel Money and M-Pesa. Previously, Airtel Money users faced the inconvenience of having to withdraw cash within seven days of receiving funds from M-Pesa or risk having the money returned to the sender."

On the wires

July 9, 2024

On the web

Are Your ATMs Ready for PCI DSS 4.0 Changes?

Atmmarketplace

"Under the PCI DSS v4.0 standard, ATM deployers must address new security requirements involving PIN pads and PIN blocks. All ATMs that can be upgraded must be fitted with current generation Encrypting PIN Pads (EPP) by Dec. 31, 2024. Devices that cannot be upgraded will need to be replaced. All ATMs must also be updated with the firmware/software necessary to support TR-31/TR-34 PIN block processing."

On the wires

India’s Paytm Gets Government Panel Nod to Invest in Payments Arm, Sources Say

Reuters

"India's beleaguered Paytm has secured approval from a government panel that oversees investments linked to China to invest 500 million rupees ($6 million) in a key subsidiary, three sources with direct knowledge of the matter said. The approval, which still has to be vetted by the finance ministry, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal business operations."

HSBC Partnered with Visa to Develop Zing International Money App

Business Wire

"Visa and HSBC announced the technological collaboration in support of HSBC Group’s new international payments app, Zing. Zing enables users to hold funds in over 10 different currencies, send over 30 currencies, transact in over 200 countries and territories worldwide, all managed through a single app and smart multi-currency card."

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