Robert Kerrigan Chief Operating Officer at TrueLayer
In March 2024, there were 16 million account-to-account (A2A) payments made in the UK, powered by open banking. If the future of payments is A2A, then the future is here now. Adoption is accelerating dramatically as businesses embrace this new and cost-effective way to accept consumer payments without the complex intermediary layers associated wi...
11 June 2024 /payments /regulation The future of Payments in Europe
Joris Lochy Product Manager at Intix | Co-founder at Capilever
As a regular consumer, you might not realize that a simple wire transfer to a company or a friend launches a complex and lengthy payment flow. This process involves multiple financial institutions and diverse IT systems. In this blog, we explore a typical payment flow at a financial institution. The complexity of the payment flow stems from increa...
10 June 2024 /payments The Payments Business
Paula Hunter Executive Director at Mojaloop Foundation
In the evolving landscape of financial inclusion, where discussions often revolve around technological advancements, regulatory frameworks, and operational challenges, one crucial aspect often gets overlooked—the intersectionality of gender. Access to financial systems can serve as a powerful catalyst for unlocking opportunities, particularly for ...
10 June 2024 /payments /inclusion Financial Inclusion
Viktoriia Degtyareva Co-founder & CCO at Paysecure
The saying "time equals money" holds particular significance in the context of transaction acceptance rates. These rates, indicating the percentage of successful transactions compared to declined ones, are crucial for merchants. Each declined transaction signifies a missed opportunity, affecting both revenue and customer trust. Thus, hig...
10 June 2024 /payments /startups Payments strategies 2015-2020-2030
Mayuri Jain Senior Manager, BFSI Industry Marketing at Persistent Systems Inc.
FedWire, operated by the Federal Reserve Banks, is essential for large-value and time-sensitive payments, ensuring secure and efficient fund transfers between financial institutions. As the financial landscape evolves, the upcoming modernization of FedWire presents significant implications for financial enterprises. Importance of FedWire FedWire...
07 June 2024 /payments The Payments Business
Ritesh Jain Founder at Infynit / Former COO HSBC
By the end of 2025, UPI (Unified Payments Interface) is poised to become the most significant payment switch globally, with an estimated annual volume of around 264 billion transactions. This staggering figure would surpass the transaction volumes of Mastercard and Visa, marking a significant shift in the global payments landscape. UPI's rapid gro...
06 June 2024 /payments /inclusion Payments strategies 2015-2020-2030
Benjamin Avraham Founder & CEO at Okoora
The global fintech market is growing rapidly with a market size expected to top $608 billion by 2029, almost doubling from a projected $312 billion this year. In part, this can be attributed to the agile solutions and customer-centric approaches of fintechs when compared to those of traditional banks. However, to drive true value in the financial...
05 June 2024 /payments /predictions Banking
Vipin Kumar Sharma IT and Consulting Delivery Manager at Infosys Ltd
Swift and Global Banks Team Up to Combat Cross-Border Payment Fraud with AI Swift, the global financial messaging service, is partnering with leading banks on two AI-powered pilots to reduce fraud and streamline cross-border payments significantly. AI could help the payments industry save billions in fraud-related costs and remove friction from th...
03 June 2024 /security /payments SWIFT Matters
Steve Morgan Banking Industry Market Lead at Pegasystems
The invasion of Ukraine passed its second anniversary recently and with that, sanctions have been revised and updated against groups or individuals linked to Russia and its allies. For example, the UK government added 50 new sanctions while the US continuously reviews and expands its own lists. Now the Biden administration is suggesting that finan...
03 June 2024 /payments Banking Strategy, Digital and Transformation
Kaustuv Ghosh Founder at Nxtgen Payment Infra. Prometheus Labs.
The future of core banking in rural/community banks Rural, thrift and community banks are where large numbers of people and small businesses find access to lending and possible wealth creation. As the Open Banking discussion grows, this segment is important for meaningful financial inclusion in many markets. With it's large population and geopoli...
02 June 2024 /payments /retail Asia Financial Services
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