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September 22, 2023
On the web
Sibos TV: Enabling Interoperability Between Private and Public Blockchains
YouTube
"Tokenised assets have the potential to become a new source of value within the financial industry, but to make this possible, private and public blockchain interoperability must be enhanced. Sergey Nazarov, Co-Founder of Chainlink and Jonathan Ehrenfeld, Head of Securities Strategy at Swift talk about recent experiments with more than a dozen of the world's largest financial institutions to make this a reality."
Sift Unveils New PayPal and Adyen Integrations, Automation Capabilities for Dispute Management and Payment Protection Customers
GlobeNewswire News Room
"Sift, announced new integrations and capabilities for its Dispute Management product, providing merchants with a more accurate, efficient, and effective way of managing chargebacks. The latest Integrations with PayPal and Adyen, allow Dispute Management customers to ingest chargeback data, dynamically deliver disputes according to network requirements, confirm dispute response delivery, and view win/loss outcome updates."
Ingenico and Diggecard Announce a Comprehensive Gift Card Solution for Acquirers Using PPaaS, Ingenico's Payments Platform as a Service
prnasia
"Ingenico, a global leader in payments acceptance solutions and Diggecard, a global provider of gift card expertise and technology, have announced that Diggecard's services are now available on PPaaS, Ingenico's innovative cloud Payments Platform as a Service...Digital gift cards can be distributed by SMS, E-mail or as a QR code and Diggecard also provides a full range of reporting capabilities that deliver analytical insights for merchants to better understand their customers."
On the wires
U.S. Bank Unveils Connected Partnership Network
Businesswire
"U.S. Bank today unveiled an online marketplace of third-party payment and treasury solutions that are fully integrated with U.S. Bank systems...Erario added, “Our vision at U.S. Bank is to deliver integrated, real-time payment solutions, which allow clients to experience embedded payment and reporting capabilities quickly and seamlessly.”"
September 21, 2023
Top Post
Payments Views: Buy Now, Pay Later: Where Have the Months Gone?
Glenbrook Partners, LLC
"At the beginning of the year, Debbie Bartoo hypothesized that four issues needed to be addressed for sustained Buy Now, Pay Later success. What happened this year? To what extent did we mature our BNPL market? Let’s take a look at 2023 progress."
On the web
CFPB Outlines Requirements for Lenders Using Artificial Intelligence to Deny Credit
Financial Regulation News
"...The Consumer Financial Protection Bureau (CFPB) released guidelines for lenders to adhere to when using artificial intelligence and other models to deny consumers credit...The guidance outlines legal requirements creditors must meet in providing specific and accurate reasons why adverse actions were taken against consumers."
U.S. Congressional Committee Passes Anti CBDC Bill
Ledger Insights
"Yesterday the House Financial Services Committee voted in favor of the ‘CBDC Anti-Surveillance State Act“. The Bill prevents the Federal Reserve (Fed) from opening digital dollar accounts for individuals. It also bars the Treasury from directing the Fed to issue a central bank digital currency (CBDC) without Congressional approval."
Sibos TV: Better Preparing for T+1 Settlements [Video]
YouTube
"The move to T+1 in the US and Canada will have a significant impact upon settlement and post-trade processes, especially on cross-border payments. With reduced timelines for processing, Jonathan Ehrenfeld, Head of Securities Strategy at Swift and Samuel Riley, CEO of Clearstream Securities Services speak explain how better automation and new technology such as unique transaction identifiers can ease this transition."
Transaction Trends: How Real-Time Payments are Driving Innovation in the B2B Space [Video]
Raconteur
"Sean Pitman, head of product and commercialization at Visa Direct Europe, explains how the B2B payments landscape is shifting as payments technology improves and the financial services sector works to keep up with modern expectations."
Sibos TV: Harnessing the Power of Generative AI [Video]
YouTube
"As financial institutions launch pilot programmes exploring the use of generative AI, they must consider how to ensure their proprietary technology operates in a way that is open, trusted, targeted, and empowering. John Duigenan, General Manager of Financial Services, Global Industries, IBM Technology discusses how banks and financial institutions can harness the power of generative AI, and what their top considerations should be as they experiment with this powerful emerging technology."
On the wires
Nine of 10 Companies Face Problems with Payment Operations, 39% Still Manual, New Modern Treasury Research Reveals
Businesswire
"Modern Treasury, the operating system for the new era of payments, today released survey results from their annual The State of Payment Operations 2023 report showing that legacy payment operations continue to result in high rates of failed payments, slow payments, errors and lost time in finance departments to clean up issues."
September 20, 2023
On the web
How Much Will Payment Providers Have to Refund APP Fraud Victims [UK]?
The Banker
"To address the impact of authorised push payment (APP) fraud, the UK is introducing a new reimbursement requirement on payment service providers (PSPs)....It is proposed that PSPs will only be required to reimburse customers who are victims of APP fraud up to the maximum level of reimbursement (potentially subject to a claim excess), and if the customer met a standard of care when executing APPs."
Citi Develops New Digital Asset Capabilities for Institutional Clients
Citigroup
"Citi Treasury and Trade Solutions announces the creation and piloting of Citi Token Services for cash management and trade finance. The service uses blockchain and smart contract technologies to deliver digital asset solutions for institutional clients."
Square Enters the Cannabis Market in Canada by Partnering with Jane Technologies for eCommerce
Block
"Today, technology company Square announced a partnership with Jane Technologies, the premier online ordering platform service for cannabis dispensaries, solidifying plans to cater to cannabis sellers in Canada."
Amazon’s New Just Walk Out Cashierless Checkout System Uses RFID Tags to Track Apparel Purchases
TechCrunch
"Amazon today introduced a new version of its Just Walk Out retail technology that allows customers to skip the cashier lines when they make a purchase by having their payment card automatically charged."
Sibos TV: Exploring the CBDC Sandbox [Video]
YouTube
"Swift recently announced a series of major advancements in its development of an innovative solution for interlinking Central Bank Digital Currencies. Gues speakers sit down with Sibos TV to share details on their collaborative efforts to create a connector solution for central banks to integrate into their infrastructure."
Square CEO Alyssa Henry is Stepping Down, and Jack Dorsey Will Take Over For Now
CNN
"Alyssa Henry, the CEO of Square – a unit of Jack Dorsey’s fintech company, Block – will leave her post at the company next month. Dorsey, whose current title is Block Head and Chairperson, will take on an additional role of “Square Head."
Stripe Launches the Biggest Set of Upgrades Yet for Its Optimized Checkout Suite
Stripe
"Stripe, a financial infrastructure platform for businesses, added new features to its optimized checkout suite to help users increase their revenue by making it easier for their customers to complete a purchase. New features include: Access to more than 100 payment methods; An A/B testing tool that allows businesses to rigorously identify the best-performing payment methods; The Express Checkout Element."
PayPal Launches Off-Ramp Service to Streamline Web3 Payments
Blockonomi
"PayPal’s cash-out option, available on wallets, DApps, and NFT marketplaces, debuted on MetaMask. PayPal rolled out its new off-ramp service to simplify Web3 payment transactions, and thus make digital assets more accessible to customers."
Sibos TV: Navigating the Cyber and Fraud Threat Landscape [Video]
YouTube
"The cyber & fraud threat landscape for the financial services industry is constantly evolving. Emerging risks are being exploited by advanced nation-state, cybercriminal, and hacktivist threat actors, targeting the sector through espionage, data theft, and criminal operations. J.F. Legault, Deputy CISO at JP Morgan disects the current threat landscape and explains how bad actors are using AI to generate new and evolving threats."
Brazil Counts Success with Pix Payments Tool
FT
...Pix is now the most common form of payment in the region’s largest economy by number of transactions, accounting for 29 per cent of transfers in 2022, according to central bank data on non-cash methods.
On the wires
WhatsApp Adds Rival In-App Payment Options in India Commerce Push
Reuters
"WhatsApp said on Wednesday that it will offer credit card payments and services from rival digital payment providers within its app in India, the latest bet by the Meta-owned service to boost commerce offerings in its biggest market. WhatsApp has more than 500 million users in India, though regulators there have capped its in-app WhatsApp Pay service to only 100 million people."
September 19, 2023
On the web
As Klarna Aspires to be a Global Bank, Affiliate Marketing is its Cash Cow
Sifted
"Last week, Swedish buy now, pay later (BNPL) scaleup Klarna brought 4,000 employees together in Stockholm; social media showed people dressed up in bandanas or Klarna pink — there were even a few Minions."
Tipalti Expands Offering to European Businesses with the Launch of a Dedicated European Product and New EMI Licence
Yahoo Finance
"Tipalti, the leading finance automation platform, today announces the launch of a fully localised solution for the European market, along with a recently granted Electronic Money Institution (EMI) licence from De Nederlandsche Bank (DNB)."
Sibos TV: Harmonising Payment Messaging for ISO 20022 [Video]
YouTube
"Message standardisation across multiple jurisdictions in accordance with the ISO 20022 is a global, multi-year effort requiring substantial industry collaboration. With the migration of the Clearing House Interbank Payments System (CHIPS) slated for April 2024, Richard Dzina, Senior Vice President of Product Development at The Clearing House joins Sibos TV to talk about implementation efforts and the benefits of the work ahead."
Visa and Swift Team Up to Enhance Transparency, Speed and Security in Global B2B Money Movement
Visa
"Visa and Swift today announced a collaboration to streamline international business-to-business (B2B) payments by strengthening connectivity between their networks that move trillions in value globally."
Sibos TV: The Progress to Come in Cross-Border Payments [Video]
Sibos
"Fernando Lardiés, General Manager of PagoNxt Trade at Santander Group explains why, despite impressive innovation in cross-border payments, more is still to be done to improve the accessibility and deployment of instant payment solutions."
On the wires
Nuvei Launches the New iDeal in the Netherlands
GlobeNewswire News Room
"Nuvei Corporation, the Canadian fintech company, announces today that it is one of the first payments services provider to integrate the new iDEAL, an enhanced solution for the leading alternative payment method in the Netherlands that enables consumers to complete transactions effortlessly through their online banking app."
Oracle and Mastercard Enable Customers to Get Faster Access to Working Capital
PR Newswire
"Oracle and Mastercard today announced a new partnership to help enterprise customers automate end-to-end business-to-business (B2B) payment transactions...As a result, mutual Oracle Cloud ERP and Mastercard customers will be able to benefit from: Virtual Cards for Supplier Invoice Payments and Virtual Cards for Corporate Purchases."
BofA Continues to Modernize Trade Finance with the Launch of CashPro® Supply Chain Solutions
PR Newswire
"As part of a multi-year effort to transform trade finance, Bank of America is launching CashPro Supply Chain Solutions, a platform that will offer participants in a supply chain the benefits of digitization with improved process efficiency and working capital optimization."
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