Regulatory

Keeping P2P Payments Fraud-Free

In today’s digital payments ecosystem, businesses, banks and consumers alike want access to their money as fast as possible. While person-to-person (P2P) payment solutions and real-time payment platforms are making the quick exchange of funds possible, fraudsters also see an opening to exploit these systems’ vulnerabilities.

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35% of Transactions Are Terminated When Site Requires Account Creation

More than one third ( 35) of transactions are lost when an e-Commerce site requires customers to create an account before purchasing. Retailers must balance their desire to gather customer data with this loss of sales revenue – as well as the annoyance factor that may keep shoppers from coming back.

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Cashless Trend Becoming a Crisis Debate in UK, US

The rise in mobile payments technology and the related pressure being placed on legacy banking systems is threatening the financial stability of millions of people in the U.K. and the U.S., experts say, as bank branches and ATM’s begin to pull back from unprofitable areas and retailers increasingly move away from cash. A report in […]

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KRA Targets Gamblers, Mobile Payments

KRA targets gamblers, mobile payments Wednesday March 13 2019 In Summary KRA commissioner-general John Njiraini Tuesday said it is proposing to introduce a 10 percent excise duty on betting in the forthcoming national budget.

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Consumers Now Trust the Sector More

A PaymentsSource interview reveals that consumers now trust the fintech sector more. While no numbers were cited, the claim comes from a reliable source. Read more about the international payments market with our money transfers news.

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The Battle for Real-time Payments Dominance in the U.S.

Since Fed catalysed the private sector to deliver real-time payment capabilities, there has been advocacy for the central bank backed, real-time payments (RTP) scheme. Many feel the lack of a ubiquitous RTP infrastructure has become a road block to innovation in financial technology and even created a competitive disadvantage for the U.S. economy.

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Rewriting the Rules in Retail Banking

Four important trends are changing the terms of success in retail banking. Banks need to act now to develop new skills. Retail banks have long competed on distribution, realizing economies of scale through network effects and investments in brand and infrastructure. But even those scale economies had limits above a certain size.

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Gartner: Top 7 Security and Risk Management Trends for 2019

Threat detection investment, security aligning to business goals and passwordless authentication are among the top trends in security and risk management, according to Gartner Security and risk management are two of business’ biggest considerations in today’s increasingly volatile cyber security landscape – failings in this arena will lead to poten.

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Marketing Critical to Managing Risks With Digital Banking Conversions

During a conversion, your best customers become your competitors best prospects. Thats what is at stake when financial institutions make major tech changes, warns Kevin Connelly, Senior Strategic Advisor at Harland Clarke Digital CX. Few events impact more customers than digital conversions, says Connelly.

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Visa, PayActiv Pave End of Two-Week Pay Period | PYMNTS.com

The gig economy has changed – and is still changing – when we work, how we work and, of course, how we get paid. Readers of this space may recall some stats at the end of last year, where the PYMNTS Gig Economy Index found that as many as one-third of workers in the U.S.

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Should You Doubt the Security of Biometric Systems

This article in government security identifies several methods by which a biometric-based identity solution can be hacked and is well worth a read if you want to become better educated regarding the every changing attack vectors now targeting biometrics. However, Mercator’s comments below try to provide more nuance.

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Faster Payments Council Shares Founding Sponsors 

The U.S. Faster Payments Council (FPC), which was launched by the Fed in November, announced on Wednesday (March 6) its 20 founding sponsors, which include a range of players in the payments industry.

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