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With an increase in regulations and growing involvement from multiple players, the world of payments is undergoing a disruption across the region
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As our world becomes more interconnected, so too does the need for banking systems to follow suit. In the past, businesses and individuals were often restricted to banking in a single country, but the rise of borderless banking is enabling both to benefit from greater financial freedoms. In this article, we will examine why this trend is so import...
03 November 2021 /payments /inclusion
Dean Wallace Director of Consumer Payments Modernisation at ACI
The payments industry is always looking for new ways to streamline processes, reduce costs, increase security and most importantly, improve the customer experience. However, when it comes to real-time or instant payments, it will take more than simply modernising existing Automated Clearing House (ACH) rails to drive forward the adoption of new inn...
17 August 2021 /payments
Katie Tillyer Business Development Manager at CloudTrade
Earlier this summer (July 2021) a news story explained how a Scottish fisherman, Jamie McMillan, had taken the decision to export his shellfish, caught off the Scottish coast, to Asia instead of across the Channel to near-by France. Why? Not for monetary gain, but purely because he faced completing approximately 3 hours of paperwork, every day, t...
11 August 2021 /payments /regulation
The world is changing, and so are the ways we pay. From food and clothes, to fuel and everything else needed for daily life, consumers are making more and more digital payments than ever before. And it seems we are well on our way towards becoming a truly cashless society. Last year saw 3.2 billion mobile wallet transactions made in the UK, a Year...
15 July 2021 /payments /inclusion
Steve Morgan Banking Industry Market Lead at Pegasystems
The contactless card payment limit will rise from £45 to £100 later this year as people are favouring contactless transactions to help curb the spread of the virus, as well as the convenience and speed. The pandemic has undoubtedly accelerated the shift to a cashless economy. March 2021 figures from LINK, the UK’s main ATM cash machine network, fou...
21 May 2021 /payments /covid-19
In July 2020, a group of sixteen major European banks from five Euro countries announced the launch of the European Payments Initiative (EPI) with the aim to create a unified payment solution for consumers and merchants across Europe. EPI’s stated long-term ambition is to become a new standard means of payment for all transaction types. This includ...
12 March 2021 /payments
René Hendrikse Vice President & Managing Director, EMEA & LATAM at Mitek
While the Christmas rush may be over, with 51.3m transactions recorded by the Post Office in December, the arrival of Lockdown 3.0 means online shopping will continue to be on the rise yet again. As non-essential shops remain closed, older generations, the vulnerable, working parents, and many more will turn to online spending. Retailers and busin...
28 January 2021 /security /identity
Amanda Mickleburgh Director Product - Merchant Fraud at ACI Worldwide
One of the most prominent issues keeping stakeholders in the payments industry busy at the moment is Strong Customer Authentication, or SCA, the new European security standard that intends to protect consumers and businesses from fraud by making it more difficult for a fraudster to make payments from their accounts. After several delays SCA is due...
26 November 2020 /payments /regulation
Arnaud Crouzet Vice President Security & Consulting at FIME
The newly-established European Payments Initiative promises a new vision of payments. Innovative use cases will be made available to consumers across Europe for the first time. There’s strong backing for the project already among financial institutions and the European Central Bank, making it likely to succeed. With the first phase due to start in...
11 November 2020 /payments /regulation
Sunil Jhamb Founder and CEO at WLPayments
Purchasing items on social media is a growing international trend with huge potential. During the COVID-19 crisis, 42% of people in an international Global Web Index survey reported spending a greater amount of time on the likes of Facebook and Instagram. And with social distancing continuing for months, that trend is likely to continue. Accordin...
16 July 2020 /security /payments
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