Industry

Flywire Survey: Solving International Receivables Can Be a Critical Growth Lever for Global Businesses

Flywire

"91% of those surveyed are more likely to do business with an international vendor who simplifies the invoice process."

Industry

ABA, Associations Support Bill to Pause Debit Card Fee Proposal

ABA Banking Journal

"The American Bankers Association and four banking and credit union associations voiced their support for legislation that would pause a Federal Reserve proposal to lower the cap on debit card interchange fees."

Industry

A Fight Over an Illinois Interchange Prohibition Law Is Far From Over

Digital Transactions

"Groups representing Illinois financial institutions, along with the Electronic Payments Coalition, say they will fight to overturn the Illinois Interchange Fee Prohibition Act, which was passed earlier this month and is set to go into effect July 1 next year... Passed as part of a larger bill at the tail end of Illinois Spring legislative session, the Interchange Fee Prohibition Act exempts merchants in the state from paying interchange on sales tax."

Industry

Brex Partners with Stripe Atlas to Deliver Faster Banking Access for Startups

PR Newswire

"Brex, the leading all-in-one financial stack supporting 1 out of 3 startups in the U.S., announced that companies incorporated with Stripe Atlas can apply for Brex business accounts immediately after incorporation, making it faster for a company to manage their finances and get their businesses off the ground."

Industry

New eIDAS-Testbed Runs First Successful Tests on European Digital Identity Wallet

Biometric Update

"The entourage forming around eIDAS continues to grow, as the EU regulation pushes Europe toward a digitized society activated through the European Digital Identity Wallet (EUDIW) scheme."

Industry

Remote and Nium Join Forces to Power Global Workforces with Real-time Cross-border Payments

PR Newswire

"Remote has selected Nium to enhance its international payroll capabilities. The partnership will be launched on a global scale, enabling businesses to instantly send employee payroll and contractor payments worldwide"

Industry

Cash Isn’t Going Away, Despite Declining Use

American Banker

"Despite efforts by some businesses to scrap cash, and an overall shift to digital payments following the COVID-19 pandemic, paper tender seems poised to stick around. [Subscription Required]"

Industry

Applying Non-Health Payment Experiences to Healthcare

MedCity News

"Consumers expect versatility, flexibility, speed, and convenience from their payment experiences, and those expectations increasingly are being applied to healthcare.  A recent consumer survey from Banked found that consumers are often willing to change the payment methods they use based on circumstances."

Industry

InvoiceCloud Releases New Payments Report Revealing Key Insights Into Digitally Reluctant Bill Payers

Business Wire

"InvoiceCloud has released a new online payments report in conjunction with a third-party research firm, offering key insights into digitally reluctant bill payers’ payment preferences and behaviors."

Industry

A New Era of Open Banking: Transitioning from PSD2 to PSD3

Worldline

"In the ever-shifting finance landscape, regulatory frameworks are pivotal in shaping the industry's direction."

Industry

Businesses Stand To Benefit From Stronger Collaboration in Payments

Forbes

"34% of executives participating in a 2023 Forbes survey did not believe cross-functional collaboration to be critical in driving payments innovation. When it comes to payments innovation, collaboration across your organization can lead to exceptional customer experiences that increase customer loyalty, lower operating costs, and fraud losses, and, ultimately, generate revenue."

Industry

Illinois Passes Limits on Payment Card Interchange Fees

ABA Banking Journal

"Illinois lawmakers passed a state budget that includes a ban on the collection of credit and debit card interchange fees for sales taxes, excise taxes and tips for services. The ban, which is scheduled to take effect on July 1, 2025, would be the first of its kind in the nation."

Industry

US Real-Time Payments Are in Their Early Days, but Show Steady Growth

The Banker

"Ever since the UK launched its own system — Faster Payments — in 2008, real-time payment schemes have been on a continuous march across the globe. Whether spurred by a regulatory mandate or driven by market forces, instant payments are now established in Australia, Singapore and Brazil, among other countries."

Industry

Combating Pig Butchering Scams With a Unified Approach [Video]

BankInfoSecurity

"Pig butchering scams - a combination of romance and investment scams - have left victims financially bankrupt."

Industry

Stronghold Enhances Payment Network with Strategic Acquisition of 20022 Labs

Business Wire

"Stronghold announced its acquisition of 20022 Labs, a pioneer in advancing the ISO 20022 financial messaging standard."

Industry

Agencies Issue Guide to Assist Community Banks to Develop and Implement Third-Party Risk Management Practices

Board of Governors of the Federal Reserve System

"Federal bank regulatory agencies today released a guide to support community banks in managing risks presented by third-party relationships."

Industry

SMBs Are Increasingly Opting for Real-Time Payments, Leaving Credit Cards Behind as Their Preferred Choice

Tearsheet

"The RTP payments network reached a milestone by processing over 1 million payments in a single day on September 1, 2023. EWA and gig worker payments emerged as the network’s primary drivers, surpassing account-to-account (A2A) transfers."

Industry

HSBC, PayPal Join Quantum-Safe Cryptography for Payments Group

IOT World Today

HSBC, PayPal, IBM and Australian Payments Plus have become founder members of a new working group that aims to protect payments from the threat quantum computers pose to current encryption methods.

Industry

Lummis, Gillibrand Stablecoin Bill Deep Dive- Precludes Bigtech

Ledger Insights

"U.S. Senators Cynthia Lummis (Republican) and Kirsten Gillibrand (Democrat) released a bipartisan Bill, the Lummis-Gillibrand Payment Stablecoin Act."

Industry

Uptake, Use, and Inclusion Gains from Fast Payment Systems: Early Comparative Data

CSIS

"The purpose of this brief is to promote data-driven, policy-relevant discussion on the role of different types of Faster Payment Systems and other payment systems in inclusive development."

Industry

FICO Partner Awards Showcase Game-Changing Innovators Worldwide

Business Wire

"At FICO® World, FICO recognized seven of its partners that are transforming the way their industries operate using FICO analytics and decision management technology; AWS, Dock, Fiserv, Infosys, TCS, Teradata and TSYS apply FICO analytics and decision management technology to advance customer centricity, fight fraud and streamline operations."

Industry

Survey: 80% of Organizations Experienced Payments Fraud in 2023, Significant Uptick from Previous Year

PR Newswire

"Eighty percent of respondents report that their organizations were victims of attempted or actual payments fraud activity in 2023, according to the 2024 AFP Payments Fraud and Control Survey, underwritten by Truist."

Industry

How Can Banks Stop Fraud in a World of Instant Payments?

Economy Middle East

"Instant payments are processed in real-time, 24 hours a day, 365 days a year, with funds made available within seconds...Moreover, they will require re-engineering of their entire processes, including fraud detection, sanctions screening and anti-money laundering checks to comply with strict SLA terms."

Industry

BankShift Unveils Patent-Pending Innovation to Revolutionize Embedded Banking: Brand On Banking

PR Newswire

"ShiftCents, Inc. aka BankShift announced in the realm of embedded banking the attainment of a patent-pending status for its Brand On Banking technology."

Industry

XRP Goes Instant! Uphold Enables Fast USD Withdrawals via FedNow

Coinpedia Fintech News

"A major U.S. crypto exchange, confirms a groundbreaking development: FedNow, the payment system of the U.S. Federal Reserve, now facilitates instant XRP withdrawals directly to select U.S. bank accounts."

Industry

SymphonyAI Announces AI-Based SensaAI for Sanctions, Powering Risk Detection and Turbocharging Sanctions Screening

Business Wire

"SymphonyAI announced SensaAI for Sanctions, a platform-agnostic “AI upgrade” for any sanctions solution dramatically impacting sanctions evasion efforts by optimizing match accuracy with deep, context-aware AI-based matching algorithms."

Industry

Credit Cards Are the Most Popular Payment Method in the US

EMarketer

"Credit cards will remain the most popular retail payment method in the US through next year, with total credit card transaction value reaching $3.843 trillion in 2025, per our forecast."

Industry

Coinme Intros Cash-To-Crypto at Coinstar Kiosks

Atmmarketplace

"Coinme, a cryptocurrency cash exchange, announced a service with Coinstar to allow customers to purchase cryptocurrency and add it to their wallet by depositing cash or coins at more than 9,700 Coinstar kiosks in the U.S."

Industry

How the Visa-Mastercard Swipe-Fee Settlement Could Affect Your Credit-Card Rewards

MarketWatch

"The country’s largest credit-card networks have struck a deal that will change what happens behind the scenes when you swipe your credit card — but those doing the swiping won’t see much of a benefit."

Industry

Evaluating Fednow: Banks Are Still Warming up to Instant Payments

ABA Banking Journal

".. According to FedNow, three of the most common use cases are: Earned wage access: Businesses that employ hourly or contract workers can instantly deposit a day’s paycheck in employees’ bank accounts. Loan funding: Consumers can immediately receive and access funds from personal and student loans. Insurance payouts: When an insurance company issues a payout, consumers immediately see the funds in their account."