Payments - Long Reads, News, Articles & Research: Finextra

Bridging the digital gulf between billers and payers

Vitalie Robu President, EMEA at Exela Technologies

Bridging the digital gulf between billers and payers

When it comes to monthly financial planning, paying bills takes up a huge portion of the pie for an average household. Digital payments across the world are on a growth trajectory but a large percentage of payments across countries still rely on legacy billing processes. It can be said that for many billers 70% of the bill payment process is elect...

08 June 2021 /payments

Our online world is now defined by community and connection

Paul Trueman SVP Product Advancement, Cyber & Intelligence at Mastercard

Our online world is now defined by community and connection

The digital revolution has generally arrived gradually, over years and decades. We’ve come a long way from the 90s’ view of the internet as the domain of techno-tribes. In 2019, conventional wisdom dictated that some interactions only really worked 'in real life'. Digital was a poor substitute for in-person. In many ways, that 2019 perspective now...

06 May 2021 /payments

The trends driving digitalisation in corporate banking

Sebastian Zawada

The trends driving digitalisation in corporate banking

The intensifying competition from non-bank platforms and the commoditisation of products, as well as the ability to onboard, connect, and deliver new and existing services to corporate customers digitally is becoming paramount. Further to this, with the ever evolving and increasingly global needs of their corporate customers, banks now face a dive...

04 May 2021 /payments

Embracing digital solutions to confine late payments to history

Retired Member

Embracing digital solutions to confine late payments to history

The coronavirus pandemic has affected businesses of all sizes, across a range of sectors. However, SMEs have been particularly hard hit when it comes to the issue of late payments. According to the UK Government, currently, £23.4bn worth of late invoices are owed to firms across Britain, which it states is hindering businesses’ cash flow and their...

30 April 2021 /payments

Changing payments: P27, Europe and beyond

Sebastian Zawada

Changing payments: P27, Europe and beyond

Project P27 has been in motion since late 2017, designing the operational model for a first-of-its-kind, multicurrency, real-time clearing system across Nordic countries Denmark, Finland and Sweden. The aim is to break down barriers for trade and financial interaction between the Nordic countries by making payments more efficient, including cross-...

19 April 2021 /payments

PSR Consultations: Could the proposed measures to fight fraud have unintended consequences?

Teresa Connors Client Director at Payment Matters

PSR Consultations: Could the proposed measures to fight fraud have unintended consequences?

Only 45% of reported Authorised Push Payment (APP) losses are reimbursed or repatriated. APP scams trick payees into sending payment from their bank account to a a fraudster, the fraudster often impersonates a known entity such as a large corporation or bank. Scams are sophisticated and can trick the vulnerable and the vigilant, wrecking lives cau...

30 March 2021 /payments

EBAday 2021: Striving for strong instant payments uptake

Paige McNamee

EBAday 2021: Striving for strong instant payments uptake

At the heart of the European Commission’s Retail Payments Strategy lies the ambition to bolster progress toward instant payments, calling for a full uptake via SEPA Instant Credit Transfers (SCT Inst) by the end of 2021. More than 50 instant payment schemes currently exist around the world, and while the manner in which consumer payments leverage i...

19 March 2021 /payments

Are financial infrastructure partnerships the future of banking?

Sebastian Zawada

Are financial infrastructure partnerships the future of banking?

In January 2021, Finextra and Banking Circle hosted a webinar focusing on the hurdles that legacy systems present for digital transformation. Experts from ING and Crown Agents Bank joined the discussion and explored the benefits financial infrastructure partnering holds for business relationships and customer experience, as well as how banks can di...

03 March 2021 /payments

How Will Authentication Evolve in the Age of SCA?

Retired Member

How Will Authentication Evolve in the Age of SCA?

Within months, we will have a clearer idea of the impact of Strong Customer Authentication (SCA), the regulatory requirement that has seen European merchants gather multi-factor authentication from customers for most online transactions. This EU directive requires that the customer provides two of three identifying factors—something they know, some...

29 January 2021 /payments

Paige McNamee

A new paradigm for capital markets

Yue Malan, senior analyst at Aite Group, recently wrote of the ‘new normal’ for capital markets: “The pandemic has impacted every aspect of the daily workflow for employees in capital markets firms. Today, a new wave of digital transformation will happen in capital markets firms.” From the perspective of Lisa O’ Connor, head of capital markets str...

25 January 2021 /payments

Plaid after Visa: Eyes on the open banking prize

Paige McNamee

Plaid after Visa: Eyes on the open banking prize

Keith Grose, head of Europe at Plaid, sat down to discuss the fallout from the great ‘would-have-been’ blockbuster acquisition of the fintech by Visa. When announced at the beginning of last year, Visa’s planned acquisition of Plaid for $5.3 billion was one of the largest in fintech during 2020. But when the Department of Justice filed a lawsuit on...

18 January 2021 /payments

SCA: With weeks to go until Europe’s deadline, is the industry prepared?

Brian Gaynor Head of Product and Strategy, EU Merchant Services at JP Morgan

SCA: With weeks to go until Europe’s deadline, is the industry prepared?

With just weeks to go before the 31 December 2020 deadline for Strong Customer Authentication (SCA) implementation in Europe , it’s worth taking a look at at the industry’s position within the rollout of this far-reaching new requirement. Final Call for Implementation After 31 December 2020, subject to prescribed regulatory exemptions, merchants w...

22 December 2020 /payments

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