paymentssource

D.C. Needs to Keep Up With the Payments Tech Wave

More consumers are finding alternatives to traditional banking that empower them with new flexibility and capabilities. Even previously unbanked or underbanked consumers are discovering these innovative options and accessing all that the digital marketplace has to offer.

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5 Security Threats to Watch in 2019

As consumers grow more attached to mobile devices for e-commerce and payments, fraudsters are intensifying their focus on handsets with new phishing, vishing to SIM-swap tricks. Payment providers are looking for broad, new approaches to fighting fraud.

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The Biggest Changes Coming to the Point of Sale in 2019

Despite years of advancements in mobile and online payments, the physical point of sale remains still ripe for disruption. The physical POS is, in many cases, still a heavy piece of hardware plugged into a receipt printer and maybe a PIN pad.

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Mobile Payments and Finance Should Accompany a Tech Revolution in the Back Office

Mobile payments are eliminating the need for cash, online banking offers fast and easy convenience and banks are incorporating customer-facing front-end operations with digital solutions.

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Risk, Fintechs and Regs Spark Real-time Payment Reforms in U.K.

The rise of digital payments, new non-bank competition, fraud challenges, a need for improved resilience and the changed regulatory environment are spurring two major updates to the U.K.’s faster payments system. The Bank of England is upgrading the U.K.’s Real-Time Gross Settlement (RTGS) system. Separately, the U.K. payments authority, Pay.

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CFPB Catches Flak From Banks, Credit Unions on Risks of AI

The Consumer Financial Protection Bureau on Thursday got an earful on the use of artificial intelligence from members of three advisory boards who said traditional financial institutions are at a competitive disadvantage against nonbank fintech firms.

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Data: The Newest Holiday Fraud Threats

The first wave of data from this year’s holiday shopping season is in, providing insights into where the biggest fraud threats are likely to originate in the final weeks of the year.

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Payment and Fintech Startups Are Hamstrung by Avoidable Mistakes

It goes without saying that fintech and payment startups have a lot at stake. Competition is fierce. Differentiation is difficult. One would think it’s a no-brainer that startup entrepreneurs – and their investors – would want to manage one of the biggest risks to their business: compliance.

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Payments Tech and Regulation Are Pressuring Banks to Get ‘Open’

Banks are facing pressure from three overlapping forces with ties to payments and retail innovation-customer, competitive and regulatory. Customer pressure takes the form of changing expectations. Customers want-and expect-the same level of digital service and functionality from their bank as from Amazon.

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7 Ways Smart Cities Innovate Payments

The concept of Smart Cities – which use mobile payments, global positioning and related technology to streamline parking, transit, building access and traffic – is deeply intertwined with the development of payments technology and regulation.

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CFPB’s Remittance Rule Exception Needs a Reboot

The Consumer Financial Protection Bureau’s first major rulemaking put in place new consumer protections for consumer remittances, including many consumer wire transfers sent through the correspondent banking system by banks, credit unions and broker-dealers.

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As Phishing Evolves, Payment Authentication Has to Do the Same

With more personal information accessible online and its accuracy questionable, relying solely on the data provided as part of the payment messaging can be risky. Continued incidents of spear phishing and catfishing only serve to highlight the complex work required to tell the genuine apart from the fraudulent.

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