Okay has been running compliance audits since 2016. What did it look like back then compared to today? Are two channels for SCA really needed? This week we briefly explore the changing security environment of mobile phones related to identity verification.
Over the course of the pandemic, PPS’ HR Director, Corinne Williams, has worked tirelessly to deploy a pioneering strategy to ensure the safety of the company’s 250 strong workforce over the last year, with various processes in place to roll out homeworking through tailored kits and a top-class well-being programme. All of this to ultimately continue to maintain its high level of operations for some of today’s leading brands that are changing the face of financial services as we know it.
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.
If your goal is to service the largest percentage of market users, respect must be given across all accessibility levels. But what is a reliable solution for non-smartphone users? In this post, we review our remote dial option as a reliable PSD2 SCA fallback.
We have spoken a lot about strong customer authentication (SCA) over the past year. However, the regulation has technically been in effect since mid-September of 2019. Now well into 2021, it is time for all European countries to fully enforce the updated SCA regulations. Let’s take a look at some of the deadlines.
Close to a quarter of a million people around Ireland received a Perx Reward from their boss while working from home last year.
Okay wants to make the payment process as smooth as possible, specifically when it comes to customer authentication. While this is just one part of the payment process that can introduce friction, it is often where checkout abandonment occurs. In this post, we’ll try to describe some of the options that we’ve seen in the market regarding frictionless payments, including their strengths and weaknesses.
One of the great innovations of the modern age is the ability of eCommerce to connect businesses, merchants, and consumers all across the world. Not only has this opened up new opportunities for businesses and consumers alike, but also it has expanded the realm of what is possible for small and medium enterprises on the global stage. And here we start with the interesting part of the current topic.
The global economy is expected to begin the process of recovery from the 2020 pandemic throughout 2021 and an integral part of that will be the payments industry as well as virtual IBANs and digital banking.
Analysts see five major trends on the horizon for 2021 in how things will change for the payments industry and digital banking services including enhanced automation to more robust identity verification as well as an authentication technology.
Over the last few years, Okay has gone through both security certifications and penetration testing. While they represent two uniquely different processes, each has greatly improved our product’s security, code quality and architecture. In this post, we discuss the importance of each, as well as what we’ve learned along the way.
Now, in 2021, and with the Brexit negotiations in their rearview mirror, the EU market is looking to digital banking solutions to help address problems of inequality, sustainability, and supporting a circular economy.
Indeed, the future of the market in Europe is not only digital but digital banking, in particular, will play a huge role in bringing about the social transformations and member-state cohesion needed to build economic resilience and growth for the future.
What are some of the major forces driving the corporate banking digitization process? What are the factors and trends behind some of the most seismic moves in recent years in this otherwise quite conservative industry? What are the main key-topics we should have on our radar in order to stay ahead of our business competitors and be the first to learn what would be the next
“big thing”?
Not only is the extension of digital banking services and digital payments solutions integral to the growth of mobile and online marketplaces, but also it is central to the monetary revolution taking place right now with cryptocurrencies and the rise of a cashless economy. We have identified three major movements in digital banking that could shape how the next several years play out, from enhanced payments processing to the integration of new consumer blocks into the financial system.
Will our smart devices be able to implement the necessary security measures to keep up with an ever-increasing digital marketplace? If so, which ones will reign supreme? In this article, we reflect on an age-old question of iPhone vs Android device, well worth considering by all financial industry players, big or small.
EML Payments Limited (ASX: EML) is pleased to release its FY21 Interim Report.
Rob Shore, Group CFO at EML, is very excited about the company’s 3-year Accelerator strategy.
The rise in technology companies looking to help us make better decisions in our finances has created a host of so-called FinTechs emerging into the market. But what is the right solution for you?
Every business from sole traders to large corporations are always on the lookout for ways to save time and money.
With the big banks’ monopoly on providing financial services now broken by FinTechs and new players in the Open Banking space, the choice of alternatives has never been more exciting – and maybe a little confusing for newcomers.
2020 saw significant growth in digital payments with the pandemic as one of the key factors. Covid 19 and shifting consumer behaviours steered the move toward contactless options and Open Banking for a safe, efficient, and contactless alternative to traditional payment methods.
Discover how Account to Account payment providers like Nuapay have worked to enable seamless recurring payments for businesses to deliver a faster and more frictionless experience for their customers.
Explore key trends including subscription models powered by recurring payments and QR codes which are fast becoming a mainstream payment method.
Digital banking is not only the future of banking but also it is allowing for new business segments to emerge and for smaller companies to compete on a more level playing field with major competitors. We’ll explain what they are and how they are making such a massive impact on the financial landscape of today.
The COVID-19 pandemic is changing the way businesses conduct themselves online as well as customer expectations about what they can do. In other words, shopping has moved from the retail space to anywhere a consumer has a smartphone and digital banking is among the greatest business innovations that have enabled this brave new world.
Miroslava Betinova, Head of Strategic Sales at PPS, discusses the trends we’ll see in the fintech industry this 2021.
The future of global commerce could be a cashless society, many experts predict, and that puts the burden on financial institutions to make sure their customers’ data is secure and protected.
As digital banking rises to replace the more traditional industry, one phenomenon has arisen hand-in-hand with it and that is the use of biometric technologies.
The rise of digital banking has taken the traditional financial sector by surprise and for many good reasons. From pioneering the art of customer service online to using artificial intelligence to handle many of their operational tasks, digital banking is not just a glimpse of the future of finance. It is a peek into the future of the world of business itself.
The fast-changing world of digital business is one in which staying ahead of the competition is often as much about thinking outside of the box as it is anything else.
But that’s much harder than it might seem at first glance, especially for firms in highly-competitive environments.
The COVID-19 pandemic is nothing less than an inflection point for the global economy. From this point on, people will discuss business in terms of pre-COVID-19 and post-pandemic, and for good reason.
The global pandemic has initiated changes in the global supply chain that were slowly developing before but that are now becoming more prominent features of the landscape. Not only are companies pulling resources in towards the home base, but also they are recentering their businesses for the digital landscape.
The future of the FinTech industry might have more to do with a person’s individual biology than numbers and chips in the future, multiple reports indicate. Known as biometric technologies, this group of payments innovations remove the old pin systems and chips of old and replace them or augment them with fingerprint scanners and other biometric methods.
Another revolution is coming for the financial sector and this one could change the way that consumers and businesses conduct themselves forever.
EML’s new FINLAB incubator has made its first investment in US FinTech disrupter Interchecks.
EML’s New FINLAB Incubator Will Immediately Benefit Two Disruptive Tech Brands.
With the financial pressures from COVID-19 still unclear for many, new research commissioned by payments provider, PayPoint, throws the spotlight on small adjustments landlords and lettings agencies could make to help tenants manage their finances during this uncertainty and beyond.
This is the time that will define the thinkers, movers, and shakers who will shape the rest of this century.
Is the European Union going to be the first major global economy to embrace the digital economy advancements, all the benefits it brings forward, and all the digital banking solutions that are coming along the evolution of tech services? What will the EU Single Digital Market bring up on the business horizon?
The transition to an almost purely digital economy is speeding up with every passing year and that is in part due to the leaps and advances in technology that are changing the way we live and conduct business.
As more companies move their core operations online, the questions of data privacy and data security and how to handle them from an institutional standpoint as well become even more critical for successful business growth.
Across the world, traditional banking is transforming into something else entirely and the full outline and scope of the future of the industry, while not yet fully understood, already presents some amazing opportunities for firms looking for an edge, business innovation and revenue growth.
Agile businesses adapt to the times, providing the market with needed services as they arise as well as new opportunities. This second aspect, helping clients realize new opportunities, is increasingly displacing the traditional model of banking facilitated capital allocation.
Few people have questioned whether e-commerce was the way of the future when it came to retail and shopping, but even fewer have asked what this brave new world will look like.
After all, as everyone moves online, other factors will play critical and distinguishing roles in determining who the winners and losers are from the e-commerce online future.
EML and Laybuy are working together on Buy Now Pay Later (BNPL).
While many analysts could never have anticipated the impact of the novel coronavirus pandemic on the world economy, there is a general consensus about what firms can do now and moving forward to build resilience against future “black swan” events such as the one currently roiling world markets.
When it comes to the future of banking and finance, forward-thinking firms are exploring the benefits of digital innovations, such as virtual IBANs and digital banking services.
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