Payment initiation is a new type of payment method made possible with open banking. Essentially, it works by letting customers connect to their banks and authorise a payment directly from their accounts. Here’s what that looks like, and what advantages it brings compared to other payment options.
Moneyou saw PSD2 as a key enabler of innovative banking services and planned to exploit all aspects of the new regulations to provide both market-leading functionality and value to their growing user base. Moneyou needed to find a way to build a compliant solution with minimum effort and impact on their systems and identified Konsentus as being the ideal partner to achieve this.
Click here to read the full article: https://www.konsentus.com/case-studies/moneyou-case-study/
Fintech and Payments Association member Paynetics discuss digitising loyalty and their latest partnership with promotional campaign leader Benamic to power a new, mobile first corporate card programme for the B2B market.
The recipe for success in the e-commerce business is much the same as any other entrepreneurial endeavor except it comes with many opportunities for growth and leverage that physical businesses don’t have.
Online business may be the future of many markets, and for good reason. From scalability of immediately needed resources to cost-effective innovation and optimization, we have identified five key elements of success for e-commerce business in the modern age:
E-commerce businesses can’t put enough of a premium on online cybersecurity and protection against threats. Not only can malicious actors steal data and commit fraud, but they can also completely undermine a customer’s confidence in your business.
To avoid costly fraud and cyber threats, we’ve found five primary areas of focus that e-commerce businesses need to keep in mind as they move forward in the online market:
As part of a European Union mandate called the Revised Directive on Payment Services, or (PSD2), merchants operating in the EU economic zone must use payment service providers within the European Economic Area that offer what is known as strong customer authentication.
This is also sometimes referred to as the SCA requirement or the PSD2 compliance. In essence, this directive ensures that transactions occurring within the EU’s economic territories make use of multi-factor authentication in order to verify a buyer’s identity.
The promises of the European Union single market, while not full borne out in the reality of the business world, where the same are actually still far from the dream promised when it comes to the virtual single market. What does this mean?
In other words, the European Union might act as a single market when it comes to monetary issues and beyond, but the EU single digital market is hampered and its growth restricted by a myriad of factors including various compliance regimes and the logistical mastery needed to make it all work.
Intuit QuickBooks, the small business platform, today announces it has entered into an agreement with Payments-as-a-Service FinTech, Modulr. Modulr will power the new QuickBooks Business Account, a new digital payment account[1] designed specifically for small businesses.
By providing payments infrastructure and digital payments expertise, the collaboration will allow QuickBooks to combine an industry leading business account with its suite of bookkeeping, accounting and tax tools, building on its vision to be ‘The One Source of Truth for a Small Business’.
Why Netflix, JustEat and Uber made your payments experience a whole lot harder
Aka Why Poor Payment Processes Are Hampering Customer Experience Transformation
As more and more organizations have gone digital, there has been a parallel proliferation of cyberattacks that attempt to damage, disrupt or gain unauthorized access to the computer systems of banks and other financial institutions.
So while banks and payment providers are looking for ways to streamline the onboarding process, they must ensure that they build in the necessary safeguards to protect their ecosystems, reputation and accounts owners.
New data from Jumio, the leading provider of AI-powered end-to-end identity verification and eKYC solutions, reveals that new account fraud based on ID verification declined 23.2% worldwide YOY in 2020, compared to 2019 results. At the same time, selfie-based fraud rates were five times higher than ID-based fraud.
Moorwand, the payments solution provider which aims to transform compliance into an enabler of innovation, has launched ‘Dear Luc’, a new payments agony uncle column with Fintech Futures.
The mobility industry needs a game-changer now more than ever and a great place to start would be to take online payments on your website.
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