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Money Movement – It’s time to be bold

We offer more opportunities, connecting to more partners across more geographies, more freedom to offer more ways to pay and get paid, and more value with an agile network in real time to turbo charge customer growth.
Money movement means possibilities, with new, more and faster ways to pay and get paid than ever before.

Click to read more about FIS Money Movement
Watch the FIS Money Movement video, and enter a new realm of possibilities click here: https://www.fisglobal.com/en/market-movers/money-movement

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The Benefits of Serverless FinTech

In the past decade, we have seen an exciting shift in the finance industry, with innovative technology-based thinking now being more prominent than ever before.

One of the new technologies is serverless FinTech, which enables businesses to add more offerings to their portfolios and simplify daily operations.

This article summarises some of the key benefits of serverless FinTech that you should know about.

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Livestream – API Chronicles – Primary Cardholders

Join us on the 8th September with innovators from Osper, Nicky and Gimi at our latest API Chronicles live panel discussion – covering money management technology for young people and hosted by Liz Lumley.

Register here: https://www.marqeta.com/uk/api-chronicles-primary-cardholders

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Chargebacks911 Launches Translation Automation Module for Multi-Lingual Merchants

Chargebacks911, the leading dispute technology specialist that powers chargeback remediation for the largest global eCommerce businesses as well as the world’s financial institutions, celebrates being able to more intelligently automate the chargeback dispute process for merchants who use more than one language through the use of its intelligent language translation service. This milestone puts Chargebacks911 at the forefront of two of the most consequential developments for merchants today: combating the rise of fraud and effectively utilizing the power of Machine Learning (ML) and artificial intelligence (AI). 

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What Features Should Payment Providers for Websites Include?

Over the past few years, e-commerce has seen rapid growth, going from strength to strength. That’s why it’s so important to stay ahead of the curve when working in online retail when it comes to product development, SEO, advertising and online payments.

If you’re unsure how to choose a suitable payment provider for your online store or other business, this article will be of use to you. Read on to find out what features are crucial when choosing a payment provider service.

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Buy Now, Pay Later is now regulated in the UK. What does the future hold for the payment method?

Buy Now, Pay Later is a rapidly growing trend in a number of market sectors, including retail, entertainment and travel. During the COVID-19 pandemic, use of the payment scheme increased fourfold in the UK, to the tune of £2.7 billion in transactions.

In this article, I’ll give a brief overview of how BNPL works and the industries where it’s most prevalent, before discussing the recent regulatory changes that have been enacted and what they mean for the future of this popular payment method.

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Virtual IBANs: What Are They and How Can They Benefit Your Business?

Recent improvements in payment technology have led to breakthroughs in cross-border payments, where businesses can expand into new, international markets.

One of these breakthrough technologies is virtual IBANs, which are fast becoming an integral part of embedded finance. But what they are, and how they can benefit your business?

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Irish Consumer Credit Sector in the Spotlight as Central Bank of Ireland Expands Regulatory Perimeter

Plenty of changes are afoot for the Irish consumer credit markets, following the enactment of the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Act 2022 (the “Act”). The Act extends the Central Bank of Ireland’s (CBI’s) consumer protection framework to a broader range of firms and consumer credit activities, with the aim of ensuring that Irish consumers receive the same protections required of other financial service providers.

The Act came into force on 16 May 2022 and those entities caught by the new legislation should by now have begun preliminary analysis of the impact of those changes to their business models. For authorised entities, this includes an assessment on their regulatory risk profile.

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Osper: Global expansion and new payments products are child’s play for this financial innovator

Fintech innovators are using digital technology to empower children to earn and spend money under parental supervision. One such innovator is Osper, the ‘mobile app and prepaid debit card that turns pocket money into life lessons.’ But this exciting business is taking its managed money concept beyond youngsters to support use cases across different demographics. Marqeta caught up with Ester Piubeni, Osper’s Head of Operations, to learn about the business’ journey so far and what the future holds.

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PSD3: What to Expect Based on the European Banking Authority Opinion

PSD2 is the main piece of European Union legislation governing payment services, and it is being reviewed. As part of the review, the European Commission requested advice from the European Banking Authority, which was issued on 23 June 2022. This Sidley Update considers that advice and what it means for PSD3.
https://www.sidley.com/en/insights/newsupdates/2022/07/psd3-what-to-expect-based-on-the-european-banking-authority-opinion

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Griffin raises £12.5 million in funding round led by Notion Capital

Griffin – the UK-based Banking as a Service provider – has secured an additional £12.5 million ($15.5 million) in funding in its quest to become the bank fintechs can build on. The round was led by Notion Capital, with participation from existing investor EQT Ventures and fintech leaders from Plaid, Wise, Liberis, and Worldpay, among others.

Griffin is building a full-stack vertically integrated BaaS platform, powered by modern user-friendly technology. The company has raised $27 million of funding to date and recently submitted its application to become an authorised bank to the UK regulators. This new round of investment will be used to grow the leadership and operational teams and continue the build of the core banking platform.

www.griffin.sh

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Fintech Rewired is now live

Fintech Rewired is now live! It’s a brand new interview series with industry leaders in the Fintech space.

But with one key difference: every interview is carried out over a few games of Shuffleboard. Watch episode 1 with Alana Parsons, COO of Caxton, here.

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Chargebacks911 Achieves Platform Milestone of 1000 Integrated Data Connections and Ingestible File Types

Chargebacks911, the leading dispute technology specialist that powers chargeback remediation for the largest global eCommerce businesses and financial institutions, today announces that it has achieved the milestone of 1,000 integrated data connections and ingestible file types though its highly automated plug-in-and play platform.

Today’s merchants have faced an uptick in fraudulent chargeback claims over the last couple of years, with profits reducing by as much as 25% due to ‘Friendly Fraud’. With over 1,000 plug-in connections, Chargebacks911’s automated platform provides a scalable method for merchants to exchange missing information that banks require to identify invalid chargeback claims and thwart the growth of this negative trend.

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PAYSET SELECTS BANKING CIRCLE FOR FAST LOW-COST GLOBAL PAYMENTS

Leading online payments platform, Payset, is utilising bank accounts from Banking Circle to offer fast, low-cost global payments. Providing customers with multi-currency accounts, pre-paid cards and currency exchange services, Payset helps businesses hold, exchange and move money around the world quickly, effortlessly, and affordably. Working with tech-led Payments Bank, Banking Circle, Payset aims to bring financial services up to speed with modern business by eliminating the expenses, delays, and red tape associated with moving money between currencies or across borders.

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The Pros & Cons of Crypto Payments in The Private Aviation Industry

Despite the fact that cryptocurrency payments are soaring in popularity, the truth is that most regular people still don’t understand how crypto and digital wallets work, or are wary about using the technology for making purchases — a fact that’s reinforced by bank card payments still accounting for 80% of aviation service transactions.

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Do customers care about Open Banking, or do they need more education?

Open Banking, which was properly introduced in 2018, has seen a slow adoption in the wider finance industry. Where payment methods like Buy Now Pay Later and digital wallets have swept through the market, open banking remains less widely understood or used – in fact, ECOMMPAY’s 2021 research found that only 14% of UK consumers completely understood it.

Customers, however, are already using open banking without even realising that they are. This revelation comes as no surprise to those familiar with the technology, as it is so very efficient and easy to use. But the fact customers do not fully understand it, means some further education is still required.

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How IT will transform e-commerce in 10 years

The process of buying and selling goods and services has evolved significantly in the last decade or so, particularly with the growth of the internet. This has led to what we know as e-commerce, the main avenue for consumers to buy products, transmit data and transfer funds online. This evolution will only continue with greater technological advances and IT continuing to strengthen links between different aspects of financial markets. But what are IT’s current strengths and, although it is difficult to predict, how it is set to potentially transform e-commerce in the next decade? 

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Low-Code vs. No-Code Embedded Finance: What’s the Difference and Which Should You Choose?  

There are a lot of new terms floating around in the world of FinTech and embedded finance, not least no-code and low-code, as more businesses start to move away from the traditional fully coded route to offering bespoke financial services.

This article demystifies everything you need to know about the similarities, differences, and which approach you should opt for to create new revenue streams and better serve your customers.

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UK payments’ disruptor DigiDoe unveils operations in Doha

London-based fintech startup DigiDoe, has expanded into the Middle East. The UK-based business has appointed a Head of Operations in Doha to lead its operations in Qatar. It comes as DigiDoe puts the world’s central and commercial banks firmly in its sights, having received crucial international security certification for its innovative proprietary anti-money laundering (AML) and fraud prevention solution.

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29% of British businesses fell victim to fraud last year, report shows

Bottomline, a leading provider of financial technology that makes business payments simple, smart, and secure, revealed today that the shift to hybrid working has left businesses seriously exposed to insider fraud1, with over half of businesses (52% in GB and 63% in the US) falling victim over the last year. These levels are likely to be significantly higher as many businesses are unaware that they have fallen foul of insider fraud, with rates expected to increase further as hybrid working becomes a permanent workplace fixture. The findings stem from Bottomline’s seventh annual Business Payments Barometer, which for the first time tracks the sentiment of US businesses, alongside their GB counterparts.

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Why The Current Neobank Model Needs To Evolve

The global neobank market is projected to grow to nearly US$67 billion this year – but less than 5% of around 400 #neobanks in the world can actually make profit. Read more to learn the common reasons why most neobanks remain unprofitable.

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allpay Limited launches Open Banking and Confirmation of Payee, for its Banking cardholder customers

Michelle Pacey, Managing Director of allpay Limited said: “In the ever-changing payments environment, it is important for allpay to be part of the journey that has seen financial institutions innovating alongside regulators and governing bodies.

With an existing market leading payments solution that serves some of the most vulnerable in today’s society, being able to build our own technology without the reliance on third parties enables allpay to push the boundaries of what we can do as a business.

The introduction of Confirmation of Payee will give both clients and consumers enhanced security as well as an improved user experience offering the opportunity to make more informed decisions around their finances.”

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Chargebacks911 Celebrates 3x Boost to its Automated Dispute Response Platform With the Addition of Data Driven AI Enablement

Chargebacks911, the leading dispute technology specialist that powers chargeback remediation for the largest global eCommerce businesses and financial institutions, today celebrates the 3x boost to its automated dispute response platform with the addition of its data driven AI enablement.

The use of AI enabled remediation allows merchants of all sizes across dozens of verticals to intelligently fill the knowledge gap and thwart growth in first party fraud. Utilizing data from a vast consortium of businesses, this enhancement leverages rule-based data driven automation, enabling tech to be ‘trained’ to identify data points related to post transaction fraud.

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GPS announces new senior leadership changes

• Joanne Dewar has been promoted to Vice Chair and will focus on the group’s growth and global profile
• Kevin Schultz has been appointed Chief Executive Officer and will focus on strategy and execution
• Both the new Vice Chair and CEO will work closely with the Chair, Gene Lockhart, in a newly formed Office of the Chair

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Vesta Appoints Former Equifax Leader as Chief Product Officer

Vesta, a leading end-to-end transaction guarantee platform for online purchases, today announced the hiring of experienced Identity and Fraud industry leader, Hrishi Talwar as Chief Product Officer. Hrishi Talwar will lead global marketing and product functions at Vesta. For more information visit www.vesta.io

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PXP DaoPay Q&A

PXP CEO, Kamran Hedjri sat down with Peter Krapfl, founder and CEO of DaoPay to discuss how their partnership will support merchants to galvanise their approach to payments, streamline their businesses and confidently expand into new markets.

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