General

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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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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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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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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Mobile: Payments’ New Best Friend

Join us in this insightful webinar, with a range of experts in the mobile payments, cards and risk space, to learn how payments are changing, and how mobile applications can help strengthen authentication and improve your customer experience – all at the same time.

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10 Cyber Security Questions You Should be Asking Your CISO – Webinar

Join our cybersecurity and regulatory panel on Thursday 29th April, where we’ll discuss with experts from fscom about the top 10 questions that you as a senior leader in a financial institution should be asking your Chief Information Security Officer (CISO). 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗼𝗻 𝘁𝗵𝗲 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗹𝗶𝗻𝗸 >

https://attendee.gotowebinar.com/register/1363508082161590542?source=UK-Sales-EPA

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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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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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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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COVID-19: How PPS overcame the challenges of a pandemic through a seamless HR strategy  

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.

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Financial wellbeing Open Banking FinTech, Ordo, partners with Global IT systems integrator, CGI, to help energy company, PFP, make communities better

Ordo is on a mission to make paying and getting paid easy, helping everyone control their finances, from large enterprises to small businesses and consumers. Using Open Banking technology, Ordo has digitised the process from buying goods or a service, invoicing, payment, reconciliation and confirmation to make it seamless for business and easy for payers.
Ordo has partnered with CGI, independent IT and business consulting services firm delivering an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions.
Together they helped PFP energy, a not-for-profit energy company, or as they like to call it ‘Profit for Purpose’….a partnership with that warm fuzzy feeling.

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What Makes Successful Businesses Thrive in the E-commerce Space, Too?

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:

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How to Secure Your E-commerce Business Against Cybercrime and Cyber Threats?

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:

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Strong Customer Authentication or SCA: is Europe 3D secure (2.0)-Ready?

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.

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Challenges and Opportunities Borne by the European Single Digital Market

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.

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The Impact of Identity Proofing on Fraud

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. 

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