Travel payments magic, revealed
Globally, B2B travel transaction volumes are projected to reach $1.7 trillion by 2027 with the APAC (Asia Pacific) region in the lead as the fastest-growing market expected to reach $480
April 11, 2024
Globally, B2B travel transaction volumes are projected to reach $1.7 trillion by 2027 with the APAC (Asia Pacific) region in the lead as the fastest-growing market expected to reach $480
Swift’s recent collaborative experiments with 38 global institutions demonstrated new use cases for its CBDC interlinking solution across digital trade, securities and foreign exchange.
The Payment Systems Regulator (PSR) has set 7 October 2024 to implement the new mandatory reimbursement rules for victims of authorised push payment (APP) fraud. Why it matters The proposed
VE3 has been selected as a key supplier for the Payment Acceptance 2 Agreement by Crown Commercial Services for the provision of payment consultancy services.
Unveiling the complexities and optimisation opportunities in the card payments industry’s operational landscape.
Guavapay, a UK-based fintech, has appointed Laura McCracken as a non-executive director
Chargebacks911 has appointed Roger Alexander as advisor to the board and CEO, leveraging his expertise to combat the rise of APP fraud in the UK.
Conversations around a digital pound are growing louder as the weeks roll by. With use cases popping up around the globe, is it time Britain followed suit? In a similar fashion to the way coins largely made way for banknotes, digital currency is the next natural progression in the evolution of money, whether consumers like the idea of it or not.
AI has been a hot topic in the financial services sector for some time and the topic keeps gathering momentum. It is clear, AI has many potential use cases, such as: helping firms scale up their business; making better informed strategic business decisions; and supporting the efficient and effective delivery of regulatory compliance to name just a few potential use cases.
Exploring how the payments industry can innovate to mitigate the UK’s cost of living crisis, this article highlights fintech’s role in aiding the newly underserved towards financial resilience and inclusivity
In an era where customer focus, innovation, and the challenge of profitable growth take center stage, the payments industry faces a pivotal transformation, signalling the end of ‘easy growth’ for traditional giants
American Express has launched ‘Plan It’ – a new offering for the UK market that allows credit Cardmembers to pay off purchases on their statement, or a portion of their monthly bill, in instalments.
TerraPay, a company specialising in global cross-border payments, has recently been granted a Major Payment Institution (MPI) License by the Monetary Authority of Singapore (MAS). This development is part of
Fintech company Unlimit has announced its entry into the Tanzanian market and received the Bank of Tanzania (“BOT”) licence, marking another significant step in its regional expansion. The BOT’s approval
Exploring how to combat AI-powered identity fraud without reverting to outdated physical verification methods, amidst a rising tide of sophisticated fake ID creation tools
Launched in 2020, IPF is a low-code payment framework that aims to empower business payment experts to create industry-leading workflows and enable software engineering teams to quickly extend and create
There have been lots of discussions recently surrounding open banking. It’s bringing innovation to the financial world by opening up access to bank accounts. Yet, the technology is still in
In recent years, the global financial landscape has undergone a notable transformation, characterised by a discernible decline in correspondent banking relationships. Several different factors highlight this shift, each contributing to
Recent findings by PwC reveal that in the past two years, over half of all businesses have faced incidents of fraud, corruption, and other economic crimes. Additionally, 49% of CEOs
In an increasingly interconnected world, global commerce has become the lifeblood of the modern economy. Businesses of all sizes are expanding their reach beyond borders, opening up new opportunities and markets. However, the traditional financial systems have often lagged behind the speed and efficiency demanded by the globalised marketplace. Enter cross-border real-time payments—a concept that is reshaping international trade by breaking down barriers and providing a boost to global commerce.
In the first half of 2023, UK Finance reported authorised push payment (APP) fraud losses amounting to £293.3 million, with the total number of APP cases increasing by 22%. The nature of authorised push payment (APP) fraud was harrowing – victims were willingly initiating and authorising payments into controlled accounts, often driven by criminal manipulation or misinformation.
Since 2019, the UK’s banking sector has been refunding customers who become victims of authorised push payment (APP) scams, causing heated debate among industry professionals who believe the responsibility should lie elsewhere.
This year, rules laid out by the Payment Systems Regulator (PSR) in 2023 will come into force. The rules stipulate that both the sending and receiving firms should hold equal liability when reimbursing fraud victims in most cases. The rules have received widespread criticism from insiders and industry bodies alike. UK Finance has hit out at the PSR’s rules, which avoid the mention of Big Tech in the conversation.
HSBC’s January launch of Zing, an e-money institution and standalone money transfer app, is something of a strategic departure for the global banking behemoth for a number of reasons.
What it may imply for the bank strategically and what it signals for the future of international money transfers, fees, and product development are all valid questions. The true motivations behind the launch are likely more nuanced than may seem likely at first glance or that the bank may have you believe.
In 2021, the Financial Conduct Authority (FCA) Business Plan made clear its intent to apply a more intensive assessment with greater scrutiny of financial information and business models. This is being particularly felt in the payments space.
There is an increasing need for enhanced data sharing in the payments industry to combat the rising threat of financial crime, specifically money laundering and online-enabled fraud.
Andrew Novoselsky, Chief Product Officer at SumSub explores why Payment fraud poses a substantial challenge to the payments industry, and why its severity is anticipated to escalate in the coming years.
After the peak of APP Fraud losses in 2021, CoP contributed to a 17% reduction in 2022, despite over 100,000 cases amounting to £482 million. However, implementing CoP takes a
Do you want to swallow the blue pill or the red pill? The crypto fraternity weighed in favor of the red pill and here we have the Bitcoin ETF live
The financial world is rapidly evolving, driven by changing consumer needs and technological advancements. The Buy Now, Pay Later (BNPL) sector is experiencing a remarkable rise in Europe and is
Traditional finance is at a crossroads with the new digital frontier, and the rapidly evolving landscape of digital assets demands innovative custodial solutions. For banks, payment service providers, financial institutions and others that are either considering or already piloting digital asset projects, it’s imperative to understand the importance of an underlying custody infrastructure.
Businesses using open banking report spending 150 hours less on operational tasks each year versus non-users1 Open banking users save on payment processing fees annually, versus businesses using other payment
There isn’t much Head of Partnerships Wiliam Boocock doesn’t know about Starling Business Services (SBS). He’s been involved since 2017 and has supported growth both in SBS and across Starling
In a landmark achievement, Tillo, the award-winning rewards and incentives platform and gift card API, is proud to announce its certification in Customer Service Excellence, a testament to its unwavering
The founders of PAYSTRAX have decades of experience in the payments industry. In the past, they worked with internal software development teams who spent most of their time keeping up
How regulatory reforms and increased capital can drive UK fintech expansion One of the first questions any fintech founder or investor asks is how it will be regulated. Regulation affects
Open banking unlocks customer data, driving competition and innovation while reshaping the financial landscape for a more inclusive future. Open banking, a revolutionary concept in the financial industry, has reshaped
In a decisive move to fortify the financial sector against the ever-evolving threat of authorised push payment (APP) scams, the recent policy statement PS23/4, issued in December 2023 by the
The 2024 Veriff Fraud Report is compiled after extensive analysis of our global customer data throughout 2023. This data shows the real story of what it’s like on the frontline
London, UK, 23 January 2024 – Ozone API, the open banking API platform founded by the team that designed open banking in the UK, today announced that it has raised
2024 will herald much innovation in the payments world, with digital currencies and digital wallets firmly entering the mainstream and grabbing the lion’s share of headlines. However, UNITE Global – a new entrant currently flying somewhat under the radar – could enjoy one of the most impactful debuts for many years to shape the future of a critical payments marketplace.
As the digital landscape continues to evolve at an unprecedented pace, the payments industry finds itself standing at the intersection of innovation and transformation.
Last week, as I was scrolling through the Internet, I happened to stumble across a piece where the founder of Ethereum, Vitalik Buterin, has been reiterating the importance of L2s
The future depends on what you do today. In the realm of finance, this sentiment rings especially true as we stand on the cusp of a digital revolution with the advent
On 30 October 2023, HM Treasury (HMT) issued its long-awaited policy document on the regulation of fiat-backed stablecoins in the UK. Framed as “Phase 1” of the UK’s approach to cryptoasset regulation, HMT’s paper was quickly followed by discussion papers from the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England (BOE) on the future regulatory approach to such stablecoins.
Although there are a number of steps to go before the stablecoin regime comes into effect (with implementation anticipated in 2025), the 2023 papers give helpful insights into the direction of the new regime.
The year 2023 was significant for ESG in finance. As COP 28 brought the year to a close, The Payment Association’s ESG Working Group look ahead to key themes likely to dominate the payments ESG agenda in 2024.
London, UK. 11th January 2024: Edenred Payment Solutions, an Edenred company and one of Europe’s market-leading payments service provider, has been selected by UK e-money provider, thinkmoney, to upgrade its card
Software as a service (SaaS) has sparked a paradigm shift in the corporate domain in the past five years, revolutionising pivotal industries like finance, transactions, and insurance.
As 2023 draws to a close, it’s time for us to take a moment to reflect on the past year and celebrate the accomplishments of our team at Salt Edge.
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