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Payments Association member For Good Causes has provided a new way for companies to celebrate the festive season with their staff to support their favourite causes without putting their hand in their wallet, especially after what has been a terrible financial year for most. Click here for more details.

Payments Association member NatWest has announced that it is waiving monthly hire fees for Point-of-Sale terminals from its payments platform Tyl until the end of 2020.

Payments Association member Eazy Collect provide direct debit services for businesses and are currently offering: 

  • No setup fee
  • Free onboarding (24 hour KYC)
  • 6 months free monthly fees
  • Discounted transaction fee

Skrill is offering its wallet and Quick Checkout solution free of charge to SME’s who are providing products or services supporting communities during the COVID-19 outbreak. Read their press release for more information.

IWOCA has launched a lending platform to help banks and fintechs tap UK SMEs. Click here to view the full article.

True Layer has developed a donation app Donate Direct, which is designed to raise funds for charities and crisis workers.

Stripe has launched a series of products to help platforms and their customers  adapt to the post-Covid-19 economy. Click here to view the full article. 

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Mobile: Payments’ New Best Friend

Join us in this insightful webinar, with a range of experts in the mobile payments, cards and risk space, to learn how payments are changing, and how mobile applications can help strengthen authentication and improve your customer experience - all at the same time.

Take payment via QR Code with Ordo

Ordo offers QR codes for taking payment

How Okay Can Help with PSD2 RTS SCA Compliance

Compliance, requirements, deadlines, oh my! By now you should have a comprehensive overview of what to be aware of as PSP. As such, it is time to wrap up the topic of SCA compliance. In this article, we cover how Okay uses security evaluations to fine-tune our product as well as how we can help you meet SCA PSD2 RTS compliance standards.

[Webinar] How fintech partnerships are driving innovation in payments in 2021

Join our upcoming webinar on May 11 to hear how fintech partnerships are driving innovation in payments in 2021.

ekko partners with Paynetics UK to power fintech arm of new app that is turning the tide on climate change

ekko partners with Paynetics UK to power fintech arm of new app that is turning the tide on climate change

How Virtual IBANs Enhance the Growth of B2B Cross-Border E-commerce Businesses

One of the more vexing problems of the modern age when it comes to international business is that regulatory regimes often do not keep pace with technological innovation. Nonetheless, novel solutions to B2B cross-border business have emerged in the form of virtual IBANs, financial instruments that drive the innovation economy and enable new, powerful business models. Here we have outlined three ways that virtual IBANs are transforming the way companies do business locally and abroad:

KYC Done Right Means Competitiveness and Business Growth

When it comes to digital banking and compliance, robust KYC practices not only prevent fraud and financial losses but also strengthen a firm’s ability to conduct business with confidence. This is typically because of the four key elements of strong KYC practices that make sure firms know who they’re doing business with and what to expect from that relationship. We’ve identified the four essential elements of effective compliance in KYC practices for digital banking in order to show you how they help improve the competitiveness of businesses of any size or scale:

Driving Forces and Technology Trends Behind Fintech Innovations in 2021

The year 2020 saw many of the innovations and prognostications of analysts come true as contactless payments and digital banking solutions drove the field of Fintech innovations. Looking ahead, however, 2021 could be the year that consolidates much of this growth and prepares the economy for the next stage of digitization. We at Monneo have identified five major trends that we think are driving the Fintech innovations in digital banking, in 2021 and beyond:

The New Era of Custom Business Payment Solutions and the Impact on Digital Banking Services

The digital banking era is upending traditional payment solutions and transforming the global financial industry in the process. And this is on both the corporate and consumer level with changes in payments solutions reaching into every facet of the international economy. These innovations in digital banking are not only enabling increased efficiencies and expediting capital flows at a rate previously unthinkable but also are leading the way in changing the dynamic and level of depth of the business-customer relationship.

Re-enrollment, Customer Onboarding and Magic Links

The reason why re-enrollment is so sensitive is simple: when you do an app-based strong customer authentication (SCA), the user has already been authenticated on the device. This means that it is possible to check the ‘possession’ factor using a device fingerprint from before. If a customer has a new device, and has an existing device registered to their account, we recommend using SCA to enroll. A typical way to do this would be to use a QR code that the user can scan from one device to another. In the case where there are no existing devices linked to an account, we recommend that the customer go through a full “know your customer” (KYC) procedure in order to re-enroll their new device. One of the ways we’ve helped our customers strengthen their re-enrollment process is to implement a mechanism known as ‘magic link’. A magic link is a link received through a semi-secure channel that authorises the customer to use a particular device. Using a link like this can be practical, as the re-enrollment procedure might be stretched out over time. Interested in hearing more about Magic Links? Be sure to read the full article at okaythis.com/blog.

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