Blog Posts

Reviewing Access Control Server Integration for SCA

In order to receive 3D Secure messages, process said messages, and authenticate card users, issuing banks must deploy Access Control Servers (ACS). To ensure that transaction integrity is never compromised, the Okay software works in parallel to prevent attacks and protect user information during confidential transactions. The process looks a little something like this:

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3 Tips to Finding the Perfect Payment Technology Partnership

Sam Head of Currencycloud shares his top 3 recommendations on what to look for in the right partner for your strategic, long-term journey to borderless transactions. 

He covers the pros and cons on a bundled solution, the idea of future proofing your partner choices for business growth ambitions, the important considerations involved in the costs as well as owning the customer experience.

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Managing Chargebacks Out Of Your Business

Transact365 is more than a gateway. It is a methodology platform that has been designed to operate as a technical consultancy business, lending our years of experience and knowledge whilst building on new and exciting technology that can zero out fraud.

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How embedded finance is bringing innovation to the lending industry

Embedded finance is making waves in the lending industry by challenging the status quo – giving rise to a new breed of Fintech provider: the Lendtech.
While the goal of Lendtechs is not necessarily to compete directly with incumbent financial institutions on their turf, embedded finance – and subsequent embedded lending – has dented their market share. These legacy providers now have a choice: stick to what they know or embrace the opportunities embedded finance creates for their products and services by working in partnership with Lendtechs.

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The benefits of starting a card programme for your customers

With more and more fintech start-ups cropping up with shiny new card programmes, it’d be all too easy to assume launching one yourself would be counterproductive. But owning a card programme comes with a whole host of benefits, regardless of the competition, and it’s never been easier to launch one. Discover the benefits of starting a card programme for your customers in Moorwand’s payment guide.

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How Could Digital Currency Work?

The Bank of England and the UK Treasury have announced a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential British CBDC. But how could a digital Pound actually work? As it happens, this is something that Consult Hyperion knows rather a lot about. Apart from our work on the first British central bank digital currency (Mondex) back in the 1990s, our work on the first population-scale mobile money scheme (M-PESA) in the 2000s and our work on the most transformational contactless payment roll-out (Transport for London) in the 2010s, our practical experience across implementation platforms means that we understand the architectural options better than anyone.

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West Africa’s challenger bank, the Vista Bank Group, selects paytech provider Radar Payments by BPC to drive its digital payment strategy

Vista Bank Group in West Africa has chosen Radar Payments for its processing activities and to drive digital payment adoption in the region. The solution will include SmartVista’s card issuance and lifecycle management, payment switching, ATM and point-of-sales management as well as providing digital channels such as mobile banking and e-wallet; personalised to both retail and corporate clients.

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Gain the Lead: How It All Started

The Wirecard scandal 2020 shook the Fintech community and created a lot of questions for the industry regulators in Germany – thousands of people lost their jobs and client operations all over the world were disrupted.

But as we all know, in the middle of difficulty there is always lies opportunity. So we decided to act – this is a blog article that tells a story of how Gain The Lead came to be.

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Video Marketing: Lessons Learned in Lockdown

In this blog, Blue Train Marketing delve into the transformation of video marketing, its increase in popularity and the pandemics impact. They reveal some tips and tricks on how to improve your video content whilst restrictions are still in place.

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Let’s talk about Strong Customer Authentication: CP21/3

fscom’s Greg James looks at the proposed changes to strong customer authentication (SCA); one of the most contentious regulatory developments introduced by the second Payment Services Directive (PSD2). Greg breaks down the changes into those that will generate the most conversation and those that are simply explicit confirmations in existing guidance.

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Trust Payments recognised as one of the “Best Companies to Work For” in the UK

Trust Payments is proud to announce its recognition as one of the “Best Companies to Work For” in several categories in the UK.

The payments group has received several employee-recognition awards, including one of the top 30 Financial Services firms to work for in the UK, as well as regional awards in London and Wales. It also received a 1 Star rating signifying ‘very good’ levels of workplace engagement.

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Tink and Tribe partner for open banking payments

Open banking platform Tink partners with payments technology provider Tribe for open banking payment initiation and account check services.

Blog post below –

https://tink.com/tink-tribe-payments-partnership/?utm_content=165197139&utm_medium=social&utm_source=linkedin&hss_channel=lcp-2735919

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How Okay Can Help with PSD2 RTS SCA Compliance

Compliance, requirements, deadlines, oh my! By now you should have a comprehensive overview of what to be aware of as PSP. As such, it is time to wrap up the topic of SCA compliance. In this article, we cover how Okay uses security evaluations to fine-tune our product as well as how we can help you meet SCA PSD2 RTS compliance standards.

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Understanding PSD2 RTS SCA Compliance

Compliance. A scary term for any payment service provider (PSP) in a world of increasingly stricter regulations and requirements. To make it a little less scary, we are opening the PSD2 RTS Compliance door to extract some key points of interest. Read on for the fundamental requirements PSPs should be aware of if issuing cards or e-money payments and why said requirements are necessary.

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Three key regulations you should know about when launching your payments business in Europe

Launching a payments business in Europe requires every founder to understand their market. That means doing customer research, scoping out competitors, and – perhaps the trickiest of them all – navigating the regulatory environment. In this payment guide, Moorwand breaks down three of the key regulations you need to know about when thinking about launching a business in Europe.

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How Virtual IBANs Enhance the Growth of B2B Cross-Border E-commerce Businesses

One of the more vexing problems of the modern age when it comes to international business is that regulatory regimes often do not keep pace with technological innovation.

Nonetheless, novel solutions to B2B cross-border business have emerged in the form of virtual IBANs, financial instruments that drive the innovation economy and enable new, powerful business models.

Here we have outlined three ways that virtual IBANs are transforming the way companies do business locally and abroad:

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KYC Done Right Means Competitiveness and Business Growth

When it comes to digital banking and compliance, robust KYC practices not only prevent fraud and financial losses but also strengthen a firm’s ability to conduct business with confidence.

This is typically because of the four key elements of strong KYC practices that make sure firms know who they’re doing business with and what to expect from that relationship.

We’ve identified the four essential elements of effective compliance in KYC practices for digital banking in order to show you how they help improve the competitiveness of businesses of any size or scale:

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Driving Forces and Technology Trends Behind Fintech Innovations in 2021

The year 2020 saw many of the innovations and prognostications of analysts come true as contactless payments and digital banking solutions drove the field of Fintech innovations. Looking ahead, however, 2021 could be the year that consolidates much of this growth and prepares the economy for the next stage of digitization.

We at Monneo have identified five major trends that we think are driving the Fintech innovations in digital banking, in 2021 and beyond:

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The New Era of Custom Business Payment Solutions and the Impact on Digital Banking Services

The digital banking era is upending traditional payment solutions and transforming the global financial industry in the process. And this is on both the corporate and consumer level with changes in payments solutions reaching into every facet of the international economy.

These innovations in digital banking are not only enabling increased efficiencies and expediting capital flows at a rate previously unthinkable but also are leading the way in changing the dynamic and level of depth of the business-customer relationship.

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Re-enrollment, Customer Onboarding and Magic Links

The reason why re-enrollment is so sensitive is simple: when you do an app-based strong customer authentication (SCA), the user has already been authenticated on the device. This means that it is possible to check the ‘possession’ factor using a device fingerprint from before.

If a customer has a new device, and has an existing device registered to their account, we recommend using SCA to enroll. A typical way to do this would be to use a QR code that the user can scan from one device to another. In the case where there are no existing devices linked to an account, we recommend that the customer go through a full “know your customer” (KYC) procedure in order to re-enroll their new device.

One of the ways we’ve helped our customers strengthen their re-enrollment process is to implement a mechanism known as ‘magic link’. A magic link is a link received through a semi-secure channel that authorises the customer to use a particular device. Using a link like this can be practical, as the re-enrollment procedure might be stretched out over time.

Interested in hearing more about Magic Links? Be sure to read the full article at okaythis.com/blog.

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VIRUTAL EVENT: Leaders vs Laggards – The Race to Escape the Payments Dilemma

Join Modulr on 11th May at 10 am for the launch of this quarter’s industry pulse on payments – Leaders vs Laggards: The Race to Escape the Payments Dilemma.

We will discuss how leaders are overcoming their payments dilemma and overcoming the laggards as fintech fast-tracks innovations in a legacy ecosystem.

Secure your spot today: https://landing.modulrfinance.com/laggards-and-leaders-exclusive-launch-epa

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SCA Confusion Over Member State Ramp Ups

National competent authorities have taken an ambiguous position on their enforcement deadlines for strong customer authentication — which has left the market unsure about how much flexibility there is, sources say.

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QR Codes: A Secret History

Featured is one of Blue Train Marketing’s most recent blogs ‘QR Codes: A Secret History’. In this blog the writer, Jeff Banks, goes into detail of the history of QR Codes and how they are rapidly being adopted across the globe!

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Privat3 Money announces launch of a new Mobile App

The London based E-Money solution for global citizens Privat3 Money (P3), is pleased to announce the launch of its new Mobile App available for both Apple IOS and Android devices. This milestone is P3’s latest step to provide its global citizen clients a completely seamless user experience and ultimately greater control over their finances.

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Find Out How SimplyPayMe Can Help Your Business

Getting paid is the cornerstone of any business. It doesn’t matter if you’re an educator, retailer, tradesperson or tech entrepreneur. The one uniting factor between you is that you need to get paid if you want your business to thrive, or even just to survive.

But managing cash flow in business isn’t always easy. Especially when there are so many disruptive factors at play.

That’s why SimplyPayMe has developed a payment solution that allows small businesses to invoice clients and process payments whenever, wherever and however they like.

Give it a try for yourself and sign up for free now! https://simplypayme.com/

Free Subscription. No Obligation. No Hardware

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Android – the Fittest Kid on the Block?

Simon Fairbairn, Head of Professional Services EMEA, Terminals, Solutions & Services at Worldline, looks at why Android payment devices are on the rise and what this innovation will mean for merchants and estate owners.

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