CFPB Monitor

JANUARY 7, 2021

The CFPB has issued an approval order through its Compliance Assistance Sandbox Policy (CAS Policy) to Synchrony Bank in connection with a proposed “dual-feature” credit card (DFCC) program. The order has a 36-month duration. Once unsecured, the DFCC’s APR would be higher than the APR it had when secured.

Compliance 78

Compliance Cards Policies Security 78

PYMNTS

JULY 2, 2020

With the pandemic nudging businesses further into the digital payments realm, commercial card innovation is heating up to capitalize on the opportunity for adoption. Boost Bolsters BMO Harris Bank’s Biz Cards. Global Cash Card’s Legal Saga Ends. ADP Eyes Payroll Card Adoption Jump.

Cards 208

Cards New York Capital Compliance 208

Bank Innovation

JANUARY 8, 2020

While chip cards are becoming a mainstay at brick-and-mortar retail checkouts, gas pump payment technology lags behind. gas station owners until October of this year to upgrade pumps to accept EMV chip cards, rejecting a deadline extension request from the Merchant Advisory Group. Gas station operators who fail to […].

Cards 259

Cards Meeting Groups Retail 259

PYMNTS

JULY 2, 2020

Corporates of all sizes and verticals are taking an introspective look at internal operations to pinpoint areas of opportunity for working capital optimization. “On the buyer side, utilizing cards and shifting away from checks, wire and ACH provides a new credit instrument.” Optimizing Card Spend.

Cards 260

Cards Capital Strategy Payments 260

Perficient

DECEMBER 22, 2023

Positive Aspects of AI in Financial Services As noted by the OCC, advances in computing capacity, increased data availability, and improvements in analytical techniques, have significantly expanded opportunities for banks to leverage AI for risk management and operational purposes.

Risk Management 221

Risk Management Compliance Fraud Regulation 221

PYMNTS

SEPTEMBER 22, 2020

For small, mom-and-pop retailers, complex or proprietary procurement platforms simply aren't in the cards. With the pandemic accelerating businesses' digital shift , small retail buyers have shifted their buying operations to the B2B eCommerce realm, and for many, the online marketplace operates in lieu of a procurement solution.

Cards 235

Cards Capital Online Security 235

PYMNTS

JUNE 29, 2020

The pandemic has spurred businesses — by necessity — to use digital means to interact with their employees and to keep operations humming. Before the pandemic struck, she said, pay cards were potentially “just another choice” for the employee. And the great shift to digital is also changing the way employers are paying their employees.

Cards 236

Cards Compliance Regulation Payments 236

PYMNTS

JULY 24, 2020

The collaboration is expected to give Visa’s global merchant and card network access to M-Pesa’s financial services network. How Global Freelancing Marketplaces Can Maintai n Security And Regulatory Compliance. Beauty retailer Sephora , meanwhile, is renewing emphasis on China by deploying a localized eCommerce presence.

Compliance 152

Compliance Report Payments Security 152

PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. The age of technology is, of course, well upon us, with Software-as-a-Service (SaaS) a key conduit to making sure that at least some business operations — once the province of spreadsheets and reams of paper — can be streamlined. Plugging In To Plugins.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

PYMNTS

JUNE 17, 2020

At least, that’s what commercial card technology players believe, with this week’s rundown of the latest initiatives in corporate card solutions placing a focus on returning business trip volume. Expensify Links Cards To Booking. Emirates Islamic Launches Cards For SMBs.

Cards 169

Cards Management Tools Report 169

PYMNTS

NOVEMBER 9, 2016

Any organization, small or large, private or public, must handle the pressures of compliance. “It varies around where revenue is coming from, the requirements attached to that revenue and the scale of operations. . Sure, a paper check can get money to where it needs to go.

Compliance 174

Compliance Resources Data Management 174

PYMNTS

NOVEMBER 19, 2019

Among the biggest debates is how to construct and operate the best card program possible – a decision that served as the foundation for a new PYMNTS interview with Jim Geeslin, head of strategy for Elan Financial Services , an agent credit card issuer. Do FIs want to navigate card programs through that?”.

Cards 140

Cards Apple Data Innovation 140

Bank Innovation

JANUARY 23, 2019

Operant Founder and CEO Allan Fisch said at a meetup yesterday at Bank Innovation’s headquarters in New York that a consortium would allow the FIs to contribute anonymized data on the performance of their third-party […]. Toronto-based fintech Operant.AI

Operations 170

Operations New York Fintech Data 170

PYMNTS

MARCH 11, 2020

B2B FinTechs are once again showing off the versatility of the corporate card. While QuickBooks is piloting card payments on invoices powered by PayPal , Airwallex is readying the launch of its own corporate card — both physical and virtual — designed to enable cross-border payments. QuickBooks Adds Card Payment Support.

Cards 130

Cards Capital Fintech Tools 130

PYMNTS

FEBRUARY 5, 2020

Commercial card technology can ease multiple pain points in B2B payments. But as today’s industry players reveal, the commercial card opportunity is often biggest in areas outside of the payment. Pleo Makes a Commercial Card Shift. We know the importance of cardholders’ preference for rapid self-service. Leavitt explained.

Cards 134

Cards Payments Analytics Data 134

PYMNTS

MARCH 8, 2018

and group compliance director, explained to PYMNTS how online tools can make remote identity verification even more robust than in-person processes — and also help kick cross-border payments into higher gear. WorldRemit is focused on P2P , and its experience has implications for B2B operations, Nazzaro said. Taking Transfers Online.

Compliance 101

Compliance Regulation Online Payments 101

Abrigo

FEBRUARY 14, 2024

WATCH NOW Takeaway 1 Reduce stress and mitigate financial and compliance impacts Takeaway 2 AML employee succession plans should be “living” documents. You might also like this on-demand webinar, "AML/CFT hot topics for 2024: What to expect for financial crime." Takeaway 3 Make sure to incorporate professional development into the plan.

Training 195

Training Fraud Compliance Regulation 195

PYMNTS

AUGUST 9, 2019

HSBC has added six foreign currencies supported by its commercial card products in Europe in support of corporates operating across borders in the region. We now offer a full range of commercial card products to clients across 26 countries in Europe and 43 countries globally, with the same core capabilities in each market.

Cards 100

Cards Management Regional Policies 100

PYMNTS

JANUARY 13, 2020

In order to enhance and ensure security and safety for all stakeholders — including, most critically, customers — the Reserve Bank of India ( RBI ) last Friday modified the penalties for payment system operators who do not follow regulatory requirements.

Compliance 130

Compliance System Security Payments 130

Perficient

NOVEMBER 22, 2023

Rising Credit Card Debt and Interest Rate Impact Since early 2022, the Federal Reserve has raised interest rates 11 times , impacting both student loans and credit cards. Credit card interest rates have hit a record-high average of 22%. In the second quarter of 2023, the average credit card balance soared to a 15-year peak.

United States 221

United States Cards US Operations 221

PYMNTS

DECEMBER 15, 2020

Tipalti Chief Customer and Operating Officer Manish Vrishaketu said in the announcement that Acuant comprehended its need for automation and addressed its fast-growing business with safe and “user-friendly technology.”. In addition, they can get rewards on corporate expenses such as rent, advertising, inventory and equipment.

Compliance 187

Compliance Cards Operations Fraud 187

PYMNTS

JANUARY 20, 2017

Corporate payments firm AirPlus has just expanded its commercial card capabilities through a new acquisition. 19) said AirPlus International reached a deal to acquire corporate card issuer BCC Corporate, based in Belgium, which the firms expect to complete in the second quarter of the year. Reports Thursday (Jan.

Cards 100

Cards Regulation Compliance Payments 100

PYMNTS

MAY 17, 2017

Commercial cards are tricky. While they may be instrumental in helping companies manage cash when their employees travel for work, commercial cards aren’t the top payment rail of choice for suppliers, so companies often pay invoices another way. But depending on how the commercial card is used, these figures vary greatly.

Cards 108

Cards Analysis Data Compliance 108

PYMNTS

MAY 31, 2016

In the banking industry, the mindset among compliance staff seems to be one where the expectation is to have a new rule governing new rules that govern new rules. In this brave new regulatory world, noted The Journal , traders interact with compliance officers. And the regulations just keep coming. Regulators monitor chat rooms.

Regulation 100

Regulation Compliance Industry Course 100

PYMNTS

DECEMBER 9, 2018

With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance. That’s according to TokenEx , which recently hosted a webinar to help retailers better understand tokenization.

Retail 194

Retail Report Compliance Security 194

PYMNTS

DECEMBER 7, 2020

Adflex has unveiled a new initiative aimed at boosting supply chain merchants’ ability to accept card payments from buyers as eCommerce booms amid the coronavirus crisis. Business demand for remote payment options rose quickly over lockdown, as more firms reshaped their operations to enable a dispersed workforce,” Bermingham wrote.

Payments 163

Payments Compliance Cards Security 163

Perficient

NOVEMBER 16, 2020

This is the first time the parameters under which debt collectors can operate have been updated regarding modes of communication since 1977 when the Fair Debt Collection Practices Act was enacted. This means that all financial services institutions that have collections functions (credit card, auto loan, personal loan, mortgage, etc.)

Analytics 294

Analytics Compliance Cards Operations 294

Perficient

FEBRUARY 2, 2023

A biometric payment is a point-of-sale technology that authenticates payments by pairing a payment card with a physical identifier of the cardholder. Both Visa and Mastercard rolled out pilot biometric payment cards in 2022. To use this offering, cardholders enrolled a fingerprint to have securely stored on their card.

Industry 471

Industry Trends social media Payments 471

PYMNTS

JULY 26, 2017

Credit card processor Total System Services reported results Tuesday after the markets closed that topped Wall Street expectations. Also at an all-time high: operating income, which passed $100 million, amid greater cost control (and which also factors in the TransFirst deal). Sales came in at $1.2 billion, up from $1.1

Cards 100

Cards America Compliance Operations 100

PYMNTS

JANUARY 28, 2019

Will the ban on the credit card surcharge automatically lead to significantly higher prices when consumers opt for the plastic (via card or digital wallets) at the pump, at the counter … or pretty much anywhere? In New York this month, credit card surcharges got the okay. Maybe, maybe not. As Webster recounted Monday (Jan.

Cards 125

Cards New York Oklahoma Connecticut 125

Abrigo

SEPTEMBER 7, 2023

Often, those alerts mostly likely are routed to the operations area of the financial institution. The operations area should communicate with the BSA/AML area if this function is failing. ACH warnings/exceptions matter. Don’t ignore warnings and exceptions generated from the ACH system. Raise your hand about ACH risks.

Fraud 221

Fraud Training System Trends 221

CFPB Monitor

MAY 7, 2020

Increasing regulatory, competitive and economic challenges are causing a new focus on credit cards by medium and smaller-sized financial institutions. We also examine issues that institutions now offering credit cards should consider in deciding how to operationally move forward during an economic downturn and heightened competition.

Cards 60

Cards Compliance Capital Groups 60

PYMNTS

APRIL 29, 2020

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. FIs themselves struggle with fully understanding how this industry operates, too. As Karalevi?ius ”

cryptocurrency 283

cryptocurrency Compliance Regulation Payments 283

Perficient

FEBRUARY 16, 2023

What is ServiceNow Financial Services Operations (FSO): Financial Services Operations (FSO) is an out-of-box offering by ServiceNow utilizing its existing platform custom-tailored to the use cases for Financial Institutions providing a comprehensive solution for managing operations end-to-end.

Operations 474

Operations Industry Compliance Management 474

PYMNTS

OCTOBER 10, 2019

Today in the payments news roundup, average interest rates on credit cards are approaching record levels. The founding members are supposed to pay $10 million each to back the digital currency project, and in doing so, commit to Libra operations. Credit Card Interest Rates Rise To Near-Record Levels. 14) in Switzerland.

Cards 109

Cards Payments Meeting Regulation 109

PYMNTS

DECEMBER 27, 2019

The company expanded its credit card-based expense management program nearly four years ago to include a travel and expense card program as well as third-party expense management software. Approximately 10,000 of these cards are in circulation at Sysco as part of its spend management program, Anderson said.

Management 132

Management Cards Policies Compliance 132

PYMNTS

JUNE 18, 2020

Members of the newly-formed Open Payments Coalition, which include GoPay, Ripple, Blockchain.com, BitPay, Brave, Flutterwave, and Mercy Corps, say the newly minted PayID will enable customers to send and receive money across any of their payment networks without the hassle of dealing with credit card or bank routing numbers.

Payments 247

Payments Compliance Regulation Groups 247