FIDO Alliance
"The FIDO Alliance released new user experience (UX) guidelines to help accelerate deployment and adoption of passkeys. The FIDO Alliance UX Guidelines for Passkey Creation and Sign-ins aim to help online service providers design a better, more consistent user experience when signing in with passkeys."
GlobeNewswire News Room
"The newly released Q2 Credit Union Market Perspectives Report from TransUnion shows that stubbornly-high inflation continues to put pressure on the monthly budgets of consumers, credit union members among them."
Kasisto
"Kasisto, creators of KAI, the leading digital experience platform for the financial services industry, today announced the launch of KAI-GPT, the world’s first banking-specific large language model (LLM), designed to address the industry’s unique needs for accuracy, transparency, trustworthiness and customization."
PR Newswire
"The Smart Payment Association (SPA), the trade body of the card and mobile payments industry, today released findings from its annual review of the smart payment cards market."
www.atmmarketplace.com
"A recent report from the MetabaseQ cybersecurity company reveals a new ATM jackpotting malware variant, dubbed FIXS, infecting ATMs in Mexico. ATM Jackpotting attacks use malware to steal large amounts of cash from an ATM without having to use a credit or debit card."
Atlantic Council
"Online payments appear deceptively instantaneous in the United States. The slick user interfaces for digital payments require just a few taps and credit card numbers populate automatically on checkout pages. But the US does not operate in a world of instant payments. Despite the frictionless appearance, funds do not post and settle in consumer bank accounts in hours, or even days—something that the pervasive use of credit cards in the US masks for the average consumer."
ABA Banking Journal
Stablecoin issuance is a monetary exercise comparable to what regulated banks do and should be supervised accordingly to ensure financial stability and consumer protection, the American Bankers Association said today in a statement to the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion. The subcommittee will meet this morning to debate two bills on stablecoin regulation, one brought by committee Chairman Patrick McHenry (R-N.C.) and the other by Ranking Member Maxine Waters (D-Calif.). The association said the bills as drafted fall short in several areas.
Financial and Business News | Finance Magnates
"Peer-to-peer (P2P) payment platforms have completely changed how we conduct business by offering simple, practical, and safe ways for people to trade money with one another. These platforms have undergone considerable advances recently as a result of the ongoing advancements in technology. The influence of the newest P2P payment platform trends and innovations on the financial environment will be highlighted as we examine them in this article."
FedPayments Improvement
"The Business Payments Coalition (BPC) and Federal Reserve Financial Services have been working to improve the efficiency of how supporting information for business-to-business (B2B) payments is delivered and processed. As a result, BPC E-invoice Exchange Market Pilot participants recently formed the Digital Business Networks Alliance (DBNAlliance) (Off-site) as the legal entity to oversee a new electronic exchange network."
IT-Online
"The global embedded finance market size is expected to reach $588,49-billion by 2030, expanding at a CAGR of 32,2% from 2023 to 2030, according to a new study conducted by Grand View Research. The benefits of embedded finance, such as an alternate source of revenue for the business, competitive advantage, and enhanced customer experience, are anticipated to fuel the market’s growth. Furthermore, the ease of integrating banking services into non-banking business platforms using APIs is a major factor driving the embedded finance industry growth."
CFO
"Fintech, a blanket term used more to increase valuations than to actually describe a company’s products or services, has become a significant industry surrounding corporate finance. Companies that offer technology solutions — for things like accounting, payments processing, and lending verifications — brought their best step and repeat banners and business development reps to New York City’s Javits Center last week for Fintech Nexus. Throughout both days, the event featured its staple product pitching, thousands of attendees, and lots of networking."
Trade Finance Global
"The financial services industry is constantly changing, and the pace of change is accelerating rapidly, especially for the payments sector. The industry has witnessed many shifts: from the barter system to cash, from cheques to cards, and from cards to digital banking and payments. If we look at the customer journey, we can see a massive improvement. Payments are now faster, more efficient, and more inclusive than ever before, with customer preferences being the primary driver for modernisation."
PR Newswire
"Oslo-based fintech firm, Reltime AS, has announced the groundbreaking launch of its unique Wrapped FIAT and Central Bank Digital Currency (CBDC) services. This innovation will democratize digital currency access dramatically and redefine the global financial landscape by providing instantaneous, zero-cost transactions with immense trust that fiat currencies bring. Reltime's innovative platform and SuperApp allows for the free creation and minting of digital 'wrapped' FIAT currencies, including but not limited to USD, EUR, CHF, GBP, INR, and the top 100 global currencies."
PR Newswire
"Today, BlueCart, Inc., the premier end-to-end wholesale order management platform, announced its launch of BlueCart Pay. This tool is the latest in a series of comprehensive features the company has offered its users to streamline their invoicing, payment, and vendor relationship management needs. Wholesale and distribution businesses are no strangers to large quantities of both suppliers and order volumes. This makes for multiple invoices that have to be tracked across numerous suppliers, which is time-consuming if handled manually."
PR Newswire
"Businesses across Europe are spending more than 74 days per year – more than a quarter of the working year* – chasing late payments, according to the annual European Payment Report from credit management services provider Intrum. The 26th edition of Intrum's study features the opinions of more than 10,000 companies across 29 European countries and sheds light on the multi-faceted challenges that European businesses are grappling with this year in challenging economic conditions."
Yahoo Finance
"New York’s Attorney General, Letitia James, unveiled a 25-page bill last week to tighten state crypto regulation. In a related press release, more than two dozen state politicians, former regulators, and policy experts endorsed the bill, hailing it as a major step forward in bringing the volatile industry to heel."
Axios
"It's still TBD whether crypto will be an integral part of Stripe's business, but the company sees promise in certain applications of the technology, Stripe president John Collison said at the Axios BFD event in San Francisco. Why it matters: Stripe isn't betting the farm on crypto, but the company does find it useful for certain use cases."
EIN News
SKUx, an innovative payments technology and consumer engagement platform, today announced the launch of a new card program with Highnote, the embedded finance company setting a new standard in modern card platform management. The partnership, which comes on the heels of SKUx’s $11 million Series A, further empowers SKUx to continue transforming how rewards, refunds, emergency disbursements, and other payments are delivered, redeemed, and reported. The new card product eliminates longstanding challenges facing brands and merchants managing rewards programs and potentially unlocks significant global incremental retail value.
Electronic Payments Coalition
"The Electronic Payments Coalition (EPC) released its 2023 Q1 Data Dashboard highlighting the emerging trends within the credit and debit markets. Newly released data featured in the Q1 Data Dashboard show that as a share of purchase volume, credit interchange and merchant discount rates have remained stable for the past seven years. In 2022, the weighted average merchant discount rate for credit cards was 2.19%."
EIN News
"As the travel industry continues to evolve, so too do the ways in which merchants conduct business. One of the latest trends in this space is the integration of Open Banking into travel payments. By leveraging Open Banking APIs, merchants can streamline their payment processes, improve security, and offer a more personalised experience to travelers.One of the main advantages of Open Banking for merchants in the travel industry is the ability to offer seamless and secure payment options."
PR Newswire
"Diversified Data Processing & Consulting, Inc., announced today its ongoing support of its customer, the Detroit Department of Transportation and their riders, by providing new self-service walk-up Bus Pass Dispensers that allow DDOT customers to easily purchase bus passes by cash or card, receive instant payment confirmation and printed official receipt, and which dispense the corresponding fee-specific bus pass from the dispenser unit attached to the payment kiosk. Reduced fare passes are available for eligible riders to purchase via DivDat's Bus Pass Dispenser-equipped Kiosks."
The Daily Hodl
"Corporate titans are banding together for the launch of a new interoperable blockchain named the Canton Network. According to a new announcement, Digital Asset, Goldman Sachs, Microsoft, Deloitte, Paxos and many other corporate giants are coming together to participate in the blockchain network’s launch."
Cointelegraph
"Last week brought several significant international developments in regulation. Argentina’s central bank banned payment providers from offering crypto transactions, adding that it intends to reduce the country’s payment-system exposure to digital assets. While local payment providers refuse to comment on the decision, Argentina’s fintech chamber urged the government to reconsider, claiming that “it limits access to a technology that offers multiple benefits and opportunities for our society.”"
Bitcoin News
"New York State Attorney General Letitia James has proposed “landmark” crypto legislation that claims to be “the strongest and most comprehensive set of regulations on cryptocurrency” in the United States. “Rampant fraud and dysfunction have become the hallmarks of cryptocurrency and it is time to bring law and order to the multi-billion-dollar industry,” said Attorney General James."
EIN News
"Open Banking has been changing the financial services industry, and startups have not been left behind. The service offers several advantages to startups, such as cost savings, increased security, and faster payment processing. In this article, we will explore how startups are using Open Banking services and what payment methods are preferable within the industry."
Coindesk
"The number of stablecoins, or dollar-pegged cryptocurrencies, held in addresses tied to centralized exchanges extended its decline to reach the lowest since May 2021 in a sign of increasing investor aversion to risk. As of Monday, the balance was 21.06 billion, according to Glassnode data. The blockchain analytics firm tracks exchange balances for BUSD, GUSD, HSUD, DAI, USDP, EURS, SAI, sUSD, USDT and USDC."
Kitco News
"North Carolina's House of Representatives voted unanimously to ban the state's agencies and institutions from accepting any payments in central bank digital currency (CBDC) on Wednesday. With this action, the state joins Florida and South Dakota in opposition to a digital dollar as states’ Universal Commercial Code legislation emerges as a key battleground in the fight over the future of the greenback. North Carolina Representatives voted 118-0 in favor of the second reading of the state bill, which is designed to prevent any state entity from accepting a Federal Reserve-issued digital currency."
Electronic Payments International
"Consumers are now used to tapping their card to make payments. The problem is, not all merchants can afford the onboarding and maintenance fees of legacy point of sale (POS) systems. This is a notable obstacle, especially as the COVID-19 pandemic has accelerated digitalisation, leading to a surge in contactless payments. The volume of these transactions is expected to expand rapidly from 195 billion in 2022 to 408 billion by 2027."
Business Wire
"TabaPay, the leading instant money movement platform, announced today that it's the 6th largest card-not-present (CNP) acquirer based on total purchase transactions and 5th by dollar volume. TabaPay was also recognized as the 20th largest merchant acquirer in the U.S. based on Visa and Mastercard volume. This Nilson Report ranking is based on data from 2022."
PR Newswire
"Today, Pinwheel, the market-leading provider of income and employment data engineered for next-generation fintech innovation, launched a customized version of its Deposit Switch 2.0 (DDS 2.0) and Verify products specifically for credit unions and regional or community banks, packaging these tailored offerings as one solution: Pinwheel for Credit Unions. This product was built to require no engineering resources or product integrations, so credit unions can deploy in under a week."