Payments news

Payments headlines

Fifth Third launches Enhanced Payables

18 h

Worldline teams with Visa on virtual card issuance for online travel agencies

22 h

Guavapay collaborates with Snowdrop

22 h

PayJoy launches card to help users build credit

13 May

Bankart picks Diebold Nixdorf for payment platform processing modernisation

13 May

Finastra gets Fed ISO 20022 certification

13 May

American Express and Worldpay renew ties

13 May

Westpac to process tap-to-pay transactions for transport in Canberra

13 May

Money Carer, Tag Systems & Fingerprints deliver biometric payment card for vulnerable people

13 May

BlueSnap appoints Brian Greenfield as chief financial officer

10 May

More /payments announcements »

Nine-in-ten Klarna employees now use AI daily

Billed as a game-changer for productivity, up to 90% off Klarna staff are now using generative AI daily, with non-technical groups such as Communications, Marketing, and Legal seeing adoption rates of 92.6%, 87.9%, and 86.4% respectively.

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ECB conducts first DLT trials for wholesale central bank money settlement

Driving Natural Capital Investment: Acquiring Ten Estates, 30,000 Acres in Two Years

Kima bids to build a 'DeFi credit card’

TabaPay ditches plan to buy assets of bankrupt BaaS firm Synapse

Mastercard starts domestic payments processing in China

EBAday 2024: Confirmation of Payee’s impact on instant payments and fraud in Europe

Corpay to buy Paymerang

Google Wallet launches in India

TranscendAP launches as new venture for AI-powered accounts payable automation

APP scam reimbursement rules extended to Chaps

Join us at Money20/20 Europe 2024 - 4-6 June, Amsterdam | Use code FEX200 to save €200 on your ticke

Join us at Money20/20 Europe 2024 - 4-6 June, Amsterdam | Use code FEX200 to save €200 on your ticket

Payments blogs

Open Banking

The Future of Open Banking: Unleashing Financial Innovation in the UK and Europe

Jamel Derdour

Jamel Derdour - Transact365 / Nucleus365 - London

SWIFT Matters

ISO 20022 and Machine Learning: Transforming Cross-Border Payments

Akhil Rao

Akhil Rao - Nth Exception - London

The Payments Business

Instant Payments: Overcoming Challenges for a Faster Tomorrow

Joris Lochy

Joris Lochy - Capilever - Brussels

Futuristic Banking

Beyond the Core - how tokenization on shared ledgers will drive change for banks

Jeremy Boot

Jeremy Boot - Temenos - Lausanne

See all /payments blogs »

Latest TV

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Driving Natural Capital Investment: Acquiring Ten Estates, 30,000 Acres in Two Years

Join Richard Stockdale, Founder of Oxygen Conservation, as he discusses the company's rapid expansion and innovative land acquisition strategy in an interview with Richard Peers of ResponsibleRisk. Through data-driven approaches and Natural Capital Financing, Oxygen Capital is spearheading regenerative practices, prioritizing community involvement and knowledge sharing.

Climate Scorpion: The Sting is in the Tail - Introducing Planetary Insolvency

Sandy Trust, Head of Organisational Risk at M&G, and Lucy Saye, Actuarial Manager at Deloitte, and previous chair at the IFoA Sustainability Board, present the 'Climate Scorpion' report. This report follows the IoFA and University of Exeter's 'The Emperor's New Climate Scenarios' paper, challenging the accuracy of NGFS and CBES scenarios. In this in-depth FinextraTV Unplugged interview with Richard Peers, ResponsibleRisk, they delve into tipping points, cascading risks, and the potential for positive tipping points, exploring the uncertainty surrounding Carbon budgets and their underlying assumptions. Given the Earth's complexity, climate modeling remains uncertain. The interview discusses how financial institutions and corporations can plan amid this uncertainty.

Exploring UK Fintech: Growth, Disruption, and Future Trends

At IFGS 2024, Clare Gambardella, Chief Customer Officer at Zopa Bank, breaks down the success factors driving the UK fintech scene. From regulatory agility to consumer demand and access to funding, we discuss what sets the UK apart, major tech disruptors such as contactless payments and open banking, and the evolving needs of the next generation of consumers.

Fortifying the UK's Position as a Global Fintech Hub

Join FinextraTV at IFGS 2024 as Richard Davies, CEO of Allica Bank, sheds light on the UK's potential to become a global fintech hub. We discuss the steps the UK must take to solidify its industry leading position, including diversifying financial service providers, fostering fintech growth, nurturing global champions, and gaining insight into the role the government has in shaping the fintech ecosystem with key policy recommendations to drive innovation and scalability.

The long read

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Sehrish Alikhan

Top payments stories you missed in April

Sehrish Alikhan - Reporter, Finextra

Discussion

Climate Scorpion: The Sting is in the Tail - Introducing Planetary Insolvency

Mark Sibthorpe

Mark Sibthorpe

Good grief! Are these really the people in charge of making decisions related to the future of our planet.

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TabaPay ditches plan to buy assets of bankrupt BaaS firm Synapse

Ketharaman Swaminathan

Ketharaman Swaminathan

Aforementioned Jason Mikula just posted on X fka Twitter that end users are losing access to funds in this fracas.Which is not surprising. When Neobank / BaaS / Fintech ("Fintech") does not have a banking license and works on top of an underlying Sponsor Bank with banking license, end user accounts in fintech do not necessarily map 1-to-1 with account(s) in Sponsor Bank. While FDIC will cover customer balances if Sponsor Bank goes bust, it won't come into the picture if Fintech goes bust. Whether end users get their money back in the Fintech's bankruptcy procedings depends on the T&Cs of the FBO account held by the Fintech at the Sponsor Bank.

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Payments processor BlueSnap reaches $10m settlement with FTC

Ketharaman Swaminathan

Ketharaman Swaminathan

We keep hearing that merchants lose their merchant accounts if chargebacks exceed a tiny percentage like 0.5% per quarter. In the case of this fraudulent merchant, Visa reported it was 29-40%, albeit over a longer period. Given that Visa was involved in each transaction from this merchant, why couldn't it block them? Even assuming that Visa "outsources" the blocking decision to acquirers / PSPs, why didn't Visa block the PSPs for continuing to acquire transactions from a merchant with such a high chargeback rate? Why did this have to go to regulator FTC?

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Payments processor BlueSnap reaches $10m settlement with FTC

A Finextra Member

A Finextra member

The FTC compliant is fascinating in how the Bluesnap execs stiff armed the requests from the Fiserv account staff. While at First Data / Fiserv I recommended serveral times acquiring services for Bluesnap be ended due to a series of Bluesnap misbehavior and malfeasance. Each time senior staff blocked my recommendations, apparently due to personal cronysim and financial relationships between Mr. Dangelmaier and First Data executives (Alledgedly). The FTC did the acquiring industry as a whole a favor here, its regrettable Fiserv executives abdicated their responsibilities.

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Featured

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NAB to launch Pay by Bank for Australian merchants

EBA Clearing carries out pan-European request to pay PoC

JP Morgan taps Visa Direct for faster payments

Fed proposes expanded operating hours for FedWire and NSS

The long read

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Finextra Research

NextGen Nordics 2024: Why it’s time for a domestic focus

Finextra Research

Elsewhere...

The long read

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Paige McNamee

The crucial role of seamless bills and payments processes to organisational success

Paige McNamee - Finextra Research