PYMNTS

JUNE 29, 2020

The rise of online and contactless transactions in the European Union, for example, has meant that many merchants are making the bulk of their sales away from brick-and-mortar stores. The health crisis has brought about changes to this rule, however, and these may have long-term implications for payment standards and regulations.

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PYMNTS

AUGUST 7, 2020

Moreover, while only about 20 percent of the population has bank accounts, the vast majority of them are held by the 25 percent of Cambodian citizens who live in urban areas. If you look in cities, 95 percent of people have a smartphone [and] the majority of people will have a bank account.”. Capturing a Wide-Open Field.

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Bank Innovation

NOVEMBER 9, 2017

EXCLUSIVE – After its recent partnership with digital product Innovation Company Stuzo, Bank of America’s merchant services business is laying the foundation for an innovation lab. “It

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American Banker

FEBRUARY 7, 2024

Virgin Money has cut about 150 jobs and 39 branches thus far in 2024, the Central Bank of Nepal has hired ACI Worldwide to build a payment switch to enable interoperable card payments for merchants, and more.

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PYMNTS

OCTOBER 21, 2020

And starting in 2021, they will be able to spend their crypto caches with any of the 26 million merchants currently accepting PayPal. But PayPal’s latest launch looks to take some of the uncertainty out of the deal by allowing the merchant to accept crypto payments while still settling all cryptocurrency transactions in fiat currency.

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PYMNTS

MARCH 11, 2020

About 90 percent of purchases are still being made in-store, but the payment modalities are changing — and rapidly. The journey toward frictionless payments has raised the bar for merchants and their financial institutions (FIs) to be ready for the shift. We’re also referring to voice transactions when we talk about frictionless.”.

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Payments Mobile Trends Apple 259

South State Correspondent

OCTOBER 25, 2023

Halloween is approaching, so we might as well talk about death. Checks are dying and about to die quicker, given the rise of instant payments. In the next two years, many banks will have strategic plans to phase checks out, given their cost and reduction in frequency. The number of checks written hit about 8 billion in 1952.

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PYMNTS

OCTOBER 5, 2020

merchants and shoppers fully embrace those ubiquitous square squiggly merchant codes. The retailer said the move will allow customers to complete in-person transactions using PayPal or Venmo account balances or linked bank accounts or payment cards without the need to touch a keypad or present a payment card. stand-alone stores.

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Bank Innovation

FEBRUARY 28, 2019

Payments company Klarna Bank AB grew revenue by about a third in 2018, but operating income fell and the speed at which merchants are signing up to the platform slowed.

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PYMNTS

APRIL 9, 2020

“The consumer may not have read the terms and conditions of the sale with the merchant,” said Gerber. Merchants must consider categories of consumers in accordance with the terms of each specific transaction — those who are entitled to get their money back, those who can get a store credit/travel voucher or those that cannot get a refund.

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PYMNTS

OCTOBER 20, 2020

This is the focus of Understanding Frictions In Credit Card Transactions: How Transaction Disputes And Declines Impact Merchants’ Reputations, a PYMNTS and PAAY collaboration. Most declines are triggered by banks verifying the legitimacy of transactions or consumers exceeding their credit limits.

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PYMNTS

JANUARY 14, 2021

In the move toward digital payments in cash-centric economies, building trust in bank accounts and payments done in bits and bytes is critical. According to the World Bank , that represents a total of 100 million individuals. cents, which helps spur adoption (especially on the merchant side). Apps — And Agents, Too .

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PYMNTS

OCTOBER 21, 2020

“Despite the angst around COVID and all of the attention that it requires, it dawned on us that our partners and our consumers both continue to feel the urgency to do something about the climate,” Lambert told Webster, pointing to recent wildfires in the United States, the Amazon rain forest, Africa and Australia as catalysts.

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social media United States Cards Trends 251

PYMNTS

FEBRUARY 5, 2020

How that will affect merchants’ online promotional activity hangs in the balance. The Merchants’ Guide to Navigating Global Payments Regulations , powered by Ekata, dives deep into this complex and unsettled topic, from possible abrupt retail impacts to long-term open banking repercussions. Merchants Waiting It Out.

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Google Data Regulation social media 288

PYMNTS

NOVEMBER 4, 2020

In its March 2020 brief “Developments in Open Banking and APIs: Where Does the U.S. the Federal Reserve Bank of Boston said, “To date, U.S. regulators acknowledge that although there is a market and demand for open banking, the current regulatory structure prioritizes consumer protection.”. One need only look to the U.K.

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US Boston Regulation Data 171

PYMNTS

MAY 20, 2020

The additions, Shopify said, will help merchants navigate the new normal and empower them to plan ahead. The company said most of today’s banking products are built for large, established companies, not small- and medium-sized businesses (SMBs). There are no monthly fees or minimum balances.

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Tools User Experience ATM Cards 253

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems. Around The Data Protection World.

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Mobile Report America Regulation 229

PYMNTS

DECEMBER 9, 2020

It feels like it’s happening all at once, but it really isn’t, Pollinate Founder and CEO Alastair Lukies CBE told Karen Webster in a recent discussion about the shifting payments landscape and the role banks will play. Banks Let Themselves Get Left Behind.

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Innovation Fintech Payments Regulation 306

PYMNTS

AUGUST 14, 2020

To provide banks serving small- to medium-sized businesses ( SMBs ) throughout the globe with the newest technology and insights, Mastercard and Pollinate have agreed to a strategic partnership. It lets a bank expand into the acquiring business or grow its current operations without making modifications to its infrastructure.

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America Technology Data Operations 274

PYMNTS

JULY 16, 2019

Banks and merchants are racing to meet the Strong Customer Authentication (SCA) deadline as September 2019 approaches. In the latest PSD2 Tracker™ , PYMNTS examines how merchants and banks alike are dealing with SCA as the clock continues to tick. Why ING Is Taking A Platform Approach To PSD2 and Open Banking.

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Strategy social media Regulation Retail 188

PYMNTS

SEPTEMBER 30, 2020

The ongoing COVID-19 pandemic is accelerating this shift, making financial institutions (FIs), merchants and their regulatory officials race to secure these new digital users. MENA nations’ original rules involved data privacy, but they were focused on developing the open banking ecosystem and allowing information to move freely.

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Regulation Data Regional Examples 175

PYMNTS

SEPTEMBER 21, 2020

Women, refugees, the poor and the young had historically had low inclusion in Jordan’s banking system because there’s no good onboarding process for them – but mobile-phone penetration runs deep across Jordanian society, even among critically underbanked segments. Building Better Payments And Banking Services .

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PYMNTS

AUGUST 11, 2020

Consumers are flocking to digital channels during the current COVID-19 pandemic, an ever expanding volume that is challenging merchants to keep up. Merchants and other online services must be sure these processes are also secure, however, especially as fraud attempts have continued to climb.

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PYMNTS

NOVEMBER 27, 2020

In other words, banks and financial institutions (FIs) have an obligation to make sure you are who you claim to be. The open banking ecosystem has continued to grow and develop even as banks, FinTechs and merchants scramble to adjust to the challenges created by the ongoing COVID-19 pandemic,” the Guide states.

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Compliance Regulation Payments Study 198

Gonzobanker

AUGUST 10, 2022

Gonzobankers might want to warn their customers that their credit card rewards may go away because the merchants’ favorite senator is at it again! Merchants will claim this lowers consumer costs and breaks the duopoly held by Visa and Mastercard. Banks, credit unions, Visa, MC? is 100% for merchants. became law.

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PYMNTS

NOVEMBER 16, 2020

The country’s banking system is giving an upgrade to its instant payments system. Kavakama points to the fact that the country’s central bank has mandated that first-tier banks connect to PIX. In order to transact through the system, users need to register "keys" with their bank or fintech. Case in point: Brazil.

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PYMNTS

MARCH 27, 2020

While the advancement of open banking regulations may be seeing a small skip due to the spread of the coronavirus , many countries saw business and typical banking operations halted right after deciding upon new online privacy rules. To find out more about how U.S. To find out more about how U.S. To learn more about U.S.

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South State Correspondent

OCTOBER 26, 2023

In this article, we detail our thoughts and the trends we saw last week in Las Vegas from a banking perspective in hopes of giving you the flavor and insight from the conference without you having to walk 10 miles per day and listen to endless vendor pitches. It’s a whirlwind of education, deal-making, eating, and hugging.

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PYMNTS

JANUARY 6, 2021

Getting there, he told Webster, involves expanding financial inclusion through digital transactions that, effectively are — for the merchants and consumers involved– free. Central banks around the globe are in the process of actively developing, or at least mulling, the issuance of digital fiat, directly into digital wallets (the U.S.

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Payments User Experience System Mobile 363

PYMNTS

SEPTEMBER 4, 2020

At a high level, SoftPOS – short for software point of sale – lets merchants take contactless payments across their own mobile devices and tablets. That allows flexibility in not just how merchants take transactions, but where – across cards and digital wallets. And the SMBs, perhaps not surprisingly, have taken notice.

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Mobile Payments Software Retail 238

PYMNTS

SEPTEMBER 18, 2020

This week's look at payment rail innovation is all about speed, both for legacy rails and new ones. SWIFT has revealed plans to develop new real-time rails, while VSoft is wielding traditional bank rails to facilitate its real-time payments capabilities. EVO Payments Wields Visa Rails for Merchants.

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Innovation Payments cryptocurrency Cards 291

PYMNTS

MAY 27, 2020

Merchants must be prepared for a new world, post-pandemic, that will not be purely brick-and-mortar, but will also embrace order-ahead, curbside pickup and delivery options, with a dwindling reliance on cash changing hands. Merchants, he said, “need to make sure they not only accept credit cards but also contactless payments.”.

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CFPB Monitor

AUGUST 8, 2022

In Director Chopra’s recent interviews with several news reporting organizations, a persistent theme was the CFPB’s concerns about the entry of big tech companies into financial services, particularly in connection with payments and the companies’ ability to collect and monetize data about consumers.

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Report social media Payments Data 145

PYMNTS

DECEMBER 4, 2020

Banking as a Service (BaaS) is poised to change the end user experience of corporates as they navigate the daily challenges of cash flow management, supply chain activity and the need to become digital-first. The banks signing on to the new offering include marquee names such as Goldman Sachs, Barclays and Citigroup.

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Lending Meeting User Experience Innovation 224

PYMNTS

MARCH 6, 2020

The Central Bank of Brazil has announced plans to release an instant payments system, which will use QR codes for ease. The payments network will allow merchants in the country to receive funds just by having consumers scan QR codes on their cell phones. About the Tracker.

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PYMNTS

SEPTEMBER 30, 2020

But Johan Gerber , Mastercard ’s executive vice president of security and cyber innovation, told Karen Webster in a recent conversation that too often consumers are dealing with merchants they did shop with, but whose names showed up funny on credit card statements and weren’t immediately recognizable.

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Cards Online Fraud US 220

PYMNTS

OCTOBER 7, 2020

The expansion of digital banking and payments has also contributed to a rise in cybercrime — 32 percent of consumers noted in one study that they had been the targets of COVID-19-related fraud, for example. Consumers are still placing a premium on speed, with many looking to onboard with new banks or merchants as quickly as possible.

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