The BIS Innovation Hub has unveiled its 2023 work program. This includes previously unannounced projects on stablecoins, DeFi and CBDC. Project Pyxtrial at the London Centre will monitor stablecoins to ensure that the backing assets at least match the stablecoin issuance. Pyxtrial plans to explore a variety of tools to enable supervisors and regulators to monitor stablecoin systems.
AvidXchange, a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced AvidAnalytics, a premium Business Intelligence (BI) solution. AvidAnalytics offers buyer customers custom reporting methods to help improve spend management and drive stronger results and efficiency for the organization. It goes beyond standard industry methods with tools like intelligent analytics, immersive dashboards and embedded data visualizations.
Reimagination Technologies CEO Jaime González-Gasque last week was one of three presenters at the EPSM European Payment Service for Merchants Meeting with 39 participants from 17 countries...RTI is a Los Angeles-based company specializing in new payment acceptance solutions through social media platforms such as WhatsApp. It is the inventor and developer of a Cloud Service Solution: SocialCashier® & VoicePay, and operates a wholly owned subsidiary and software development unit or software factory in Mexico City. SocialCashier® is a patented blockchain transactional engine. VoicePay is a free, user-friendly payment method using social media channels with secure biometric authentication and blockchain protection.
The central Bank of England and the UK Government will today, reportedly, formally start a consultation for the 'digital pound'. A state-backed digital pound is in the plans for the country, and it may be launched "later this decade," according to the PA Media Group, via Yahoo News. The Bank and the Treasury will create a road map to "potentially introduce a new central bank currency" (CBDC), it said, suggesting that this is still just a possibility.
U.S. Payments Forum
Reducing friction in the transaction process is top of mind for many stakeholders within the payments industry. In the U.S., card-present EMV debit transactions can be processed without a PIN (PINless debit), allowing for quicker payment experiences at the time of checkout. In general, PINless debit transactions are processed through one of two methods...
Nium, the global platform for on-demand money movement, today announced zero-deduction wire transfers, additional currency support for global payouts, and real-time transaction tracking through SWIFT gpi. The move benefits financial institutions, payroll, and procurement firms seeking lower costs, broader reach, greater transparency, and faster settlement of cross-border wire transfers. Nium's enhanced offering includes...
Zilch, the UK-headquartered payments technology company, today announces it has signed an industry-first partnership to work with StepChange, the UK’s leading debt advice charity, which will help Zilch’s millions of customers access help, should they need it, more quickly during the current cost of living crisis.
Today Trustly, the global leader in Open Banking Payments, partners with PointsBet, a premier global online gaming operator, to offer its players Instant Payouts in the United States, powered by Cross River. In partnership with Cross River Bank, a financial services and technology infrastructure provider that offers embedded financial solutions, Trustly’s technology platform will allow PointsBet to provide players with instant withdrawals of winnings into their bank accounts wherever sports betting is available.
Standing still is not an option in the FinTech industry. One only has to recall Blockbuster’s missed chance to invest in Netflix to see how fast trends can change. Despite Visa’s global market dominance in payments, the company is now preparing to transition into digital payments.
As ecommerce grew over the past couple of years, so did the level of fraud being committed online. As digital commerce returns to pre-pandemic levels, data from Forter shows that returns abuse is holding steady, with the shadow looming larger than it has ever been before.
The legal aspects of the use of biometric technologies for face recognition of people at the current time are given. An overview of existing solutions in the field of biometric identification of clients by face by Russian banks is presented. The current solutions of such banks as Sber, Alfa-Bank and Ak Bars Bank, as well as examples of the equipment they use, are considered.
According to a recent Global Times report, Chinese cities have launched digital yuan (e-CNY) activities worth over $26.6 million (180 million yuan) to promote its adoption during the Spring Festival holidays, including subsidies, consumption coupons, and other programs.
Proposals to reimburse hundreds of millions of pounds to scam victims in Britain are "fundamentally flawed" and are taking too long to come into force, lawmakers said in a report published on Monday. Banks will have to refund within 48 hours customers tricked into sending money to fraudsters under plans drawn up by watchdog the Payment Systems Regulator (PSR) unveiled in September.
Swiss citizens will get the chance to try to ensure their economy never becomes cashless, a pressure group said, after collecting enough signatures by Monday to trigger a popular vote on the issue. The FBS (Free Switzerland Movement) says cash is playing a shrinking role in many economies, as electronic payments become the default for transactions in increasingly digitised societies, making it easier for the state to monitor its citizens' actions.
Stephanie Khoeung’s white walking cane glides along a sidewalk as she navigates through a Paris suburb. She lost her sight when she was 12 after a series of failed operations. Now, as an adult, everyday situations are often challenging for Khoeung. Things like buying a sandwich. Credit cards are not easy for visually impaired people to use because they can’t always see the terminal to know where to insert their card.
Sila Inc., a fintech software platform that provides payment infrastructure as a service, and Digital Geko, a web and mobile app developer, today announced the launch of Nitro, a set of modules created to build fintech apps that comes pre-populated with key software components of the Sila ACH API, ready to be customized by fintech entrepreneurs.
Paxos, the most comprehensively regulated blockchain and tokenization infrastructure platform, announced it is launching an engineering research & development center of security and cryptography excellence in Israel. Paxos plans to expand its Israel engineering center with senior, staff and principal engineers with specialized skills in enterprise-grade security, applied cryptography and blockchain technology given the strong tech talent pool in Israel.
The West Australian
Commonwealth Bank is rolling out new features for its widely used banking apps aimed at combating the plague of scammers ripping off Australians. From late March, the app will indicate whether the name and account details customers have entered are correct when they make payments using a BSB and account number.
The Hindu Businessline
Unified Payment Interface (UPI) has changed the face of payments in the country, and has become the epitome of digital payments worldwide. It has influenced Fednow, an instant payments system in US, and P27, a real-time and cross-border payments system in the Nordics. While the real-time payment transfer system was an instant hit, it created an entirely different challenge of market concentration for the government in India – the interface is dominated by PhonePe and Google’s GPay. PhonePe has nearly 50 per cent market share with recent funding and valuation as one of the largest fintechs in the country, followed by Google Pay with over 34 per cent, and Paytm has 10 per cent share, and these transactions’ value could reach 10 trillion rupees by 2026
GlobeNewswire News Room
Euronet, a leading global financial technology solutions and payments provider, today announced an agreement with LATAM digital wallet provider Paga Aqui Servicios SOLFIN (SOLFIN) where Euronet’s Ren Payments Platform (Ren) will provide complete issuing services for a minimum of 250,000 prepaid cards and up to 10 million cards over the next 10 years.
GlobeNewswire News Room
vCash is a digital currency or cryptocurrency that’s designed to be used as electronic cash. Updated with the revolutionary privacy protocol, ensuring complete anonymity, scalability and fungibility. vCash – decentralized, confidential, hard money that can’t be controlled or stopped. Financial freedom for the masses.
Citizens today announced the launch of Zelle® to eligible small business customers, a new offering that allows them to pay and get paid quickly and easily using Zelle® – all within the Citizens mobile banking app1. As small businesses demand more in their banking relationships, this feature offers customers the familiarity and ease of use of Zelle®.
Finastra today unveiled Finastra ALM IQ, a risk management solution available for banks from March 2023. The unique cloud-based balance sheet management tool enables small and medium-sized banks to make confident decisions in shorter timeframes, making them more competitive against larger financial institutions.
Chain Store Age
A record-breaking fourth quarter helped make 2022 the highest single year ever of digital commerce in the United States. U.S. digital spending rose roughly 11% to $1.09 trillion in 2022 from $904.3 billion in 2022, according to the annual “State of Digital Commerce” study from ComScore.
The White House on Wednesday was due to announce fresh efforts to slash credit card late fees and drive down the prices that Apple Inc and Google parent Alphabet Inc charge on mobile app stores, part of a larger policy drive to promote competition in consumer markets, officials said.
Ingenico, a global leader in payments acceptance solutions and Splitit, the only white-label, card-based installment platform using existing consumer credit, today announced a global strategic partnership to bring one-touch, no-interest, buy now, pay later capability to the physical checkout experience using PPaaS, Ingenico’s innovative, cloud-based Payments-Platform-as-a-Service, and Splitit’s Installments-as-a-Service solution.
Alipay+ has further strengthened its partnership with Asia’s largest food delivery platform, foodpanda, to Malaysia. Through this partnership, foodpanda Malaysia’s customers can now enjoy convenient food and grocery deliveries by paying through Touch ’n Go eWallet, one of the leading mobile wallets in Malaysia.
American Express today announced the launch of American Express Business Blueprint™, the company’s new digital cash flow management hub designed exclusively for small businesses, which features cash flow insights, digital financial products, and an easy way to reach and manage their Business Cards.
The leader in “Buy Now Pay Later” (BNPL) payments, Afterpay, unveils all-access experiences for its consumers as the title sponsor of New York Fashion Week: The Shows. As in previous seasons, Afterpay continues to break down barriers by opening access to the front row of what’s next in fashion, while supporting the next generation of creators and celebrating the industry’s power to create positive change.
ACI Worldwide, a global leader in mission-critical, real-time payments software, today announced the expansion of the global reach of its industry-leading, real-time payments software solutions. ACI now powers 25 domestic and pan-regional real-time schemes across six continents — including nine central infrastructures — providing solutions to central banks, participant banks, fintechs and other payment service providers.