Payments news

Payments headlines

Wyre integrates with crypto-to-cash service powered by MoneyGram and Stellar

13 h

Banking app Marygold expands product portfolio with i2c

17 h

Envestnet buys Redi2

17 h

Linkbancorp signs with Jack Henry

17 h

Mastercard exec joins B2B billing outfit Anchor

17 h

LatAm BNPL firm Kueski names Sung Hae Kim chief people officer

17 h

Nstart secures credit institution license

20 h

TrueLayer and Chip to collaborate for faster payments

20 h

Klarpay becomes Visa principal member

21 h

Seedrs taps Form3 and LHV UK to bolster payments offering

23 h

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India offers UPI to the world

India is making a host of its e-governance tools - including the Unified Payments Interface (UPI) and Aadhaar identity service - available to other countries via open APIs.

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Bolt settles suit with customer Authentic Brands Group

Responding to the SME challenge through collaboration

Till payments and Alipay+ launch Aussie education tool

Revolut and Stripe team up to expand into global markets

Plum joins forces with Railsr to launch debit card

Survey finds UK shoppers are frustrated with SCA

Oz BNPL firm Openpay quits US

[New Impact Study] The CIO’s guide to architecture modernisation through portability, resilience, an

[New Impact Study] The CIO’s guide to architecture modernisation through portability, resilience, and flexibility

Payments blogs

Women in FinTech

Making the fintech industry more inclusive

Terry Monteith

Terry Monteith - BlueSnap - Boston

Women in FinTech

Tackling the Gender Imbalance in the Payments Industry

Jamel Derdour

Jamel Derdour - Transact365 - London

AN INTRODUCTION TO CHARGEBACKS: THE EVOLUTION OF THE CHARGEBACK PROCESS

Tamar Gershon

Tamar Gershon - Fibonatix - Tel Aviv

Digital Bank Transformation

KYC: How banks can comply with history-making sanction rollouts

Steve Morgan

Steve Morgan - Pegasystems - Reading

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Latest TV

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Responding to the SME challenge through collaboration

Rob Wint, Product Director, Temenos, & Jeff Wright, Group Head, Client Solutions & Speciality Businesses, Canadian Western Bank, speak at TCF 2022 about the SME challenge, the response to that challenge through collaboration between CWB and Temenos, and how this will benefit the client experience.

EBAday 2022: Making SEPA bulk payments better than instant

Faster SEPA credit transfers processed around the clock are just around the corner, thanks to upgrades being brought to EBA CLEARING’s STEP2 System. Erwin Kulk, Head of Service Development and Management, explains how these changes are supporting the industry and when these new service levels will be widely available.

EBAday 2022: Supporting harmonisation of KYC requirements

The Euro Banking Association is contributing to standardised and digitalisable KYC processes for corporate customers and banks. EBA Secretary General Thomas Egner reports on a first important deliverable towards a more uniform customer experience across Europe.

Money 20/20: A New Perspective on Securing High Value Digital Interactions

Matthew Moynahan, CEO at OneSpan, speaks at Money 20/20 on current digitization trends in financial services and the reasons why security needs to be woven seamlessly through the customer journey. Hear Matt discuss the top requirements for conducting business in today’s hyperconnected digital world, including the ability to verify the identity of a customer, authenticate users, and ensure that hybrid and virtual engagement models are secure and compliant.

The long read

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Miguel Ignacio Mas Palacios

Corporate Banking in 2022: An outlook on the industry

Miguel Ignacio Mas Palacios - Director of Global Corporate Banking, NTT Data

Discussion

It isn’t AI that’s biassed — it’s banks and VCs

Ketharaman Swaminathan

Ketharaman Swaminathan

In his latest monthly newsletter, David Barrett, Founder CEO of Expensify, stated that Expensify is the only company that has succeeded with expense management software for SMEs. He was referring to the latest pivot to enterprises by Brex. Maybe SMEs ARE risky, expensive and difficult to serve? Looking left and right while crossing the road is a safety best practice or bias?? I've always wondered if skew is in the dataset and the analyst is merely surfacing the reality and not ating with any personal bias. I'm becoming more convined about that take after reading that SME lending has not changed in 30 years. If the bias was with banks, by now, alternatives to banks should have come up and grabbed the opportunity? Why has Brex pivoted away from SME??

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What’s next for BNPL?

Ketharaman Swaminathan

Ketharaman Swaminathan

Despite tectonic changes in technology, consumer behavior, alternative payments, blah blah blah, credit card industry has maintained its 3-4% MDR (in unregulated markets) through its entire 70 year history. Why won't BNPLs be able to sustain their 4-6% MDR for a similar period? I'm not among those who predict that BNPL will achieve dominance. That said, through the last 35 years of observing emerging competition to credit card, BNPL is the only credit card competitor that I think has some chance of putting a slight dent on credit card volumes.

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What’s next for BNPL?

Leo Lipis

Hi Ketharaman, Thanks for your comment. I welcome the debate and respectfully disagree. At least three of the big BNPL companies (Klarna, Affirm, AfterPay) made a loss in 2021 and I don’t think an MDR of 4-6% is sustainable in any case. Many of the business cases around BNPL services were created in a 0% or, at the very least, a low interest rate environment. Given how quickly interest rates and inflation are now rising in advanced economies, I am skeptical that business models that were built on these assumptions can survive without serious changes. Moreover, high inflation is squeezing both consumers and merchants, and the very target audience for BNPL services are also more likely than other target groups to be hit hard by inflation and are therefore more likely to struggle to make repayment. Add in the lack of regulation (and indeed looming regulation as the example of the UK shows) and the trend of consumers having multiple open BNPL accounts adds complicating factors. While I do think BNPL has a place in the future marketplace, I don’t think it will achieve the dominance that some predict.

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Fraud prevention: The importance of technology in spotting security risks

Melvin Haskins

Melvin Haskins

After four false positives using a VISA card I stopped using the card and moved to a Mastercard. I did not blame the business, but the fraud protection by the bank or VISA. I also found that Mastercard were very quick to discover a cloned card using my details and stopped it within minutes.

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Featured

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Revolut crosses the divide to in-person payments

Worldline completes deal for 80% stake in Eurobank Merchant Acquiring

Klarna valuation to drop from $46bn to $6.5bn in new funding round - WSJ

GoCardless to acquire Nordigen

The long read

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Christian Mangold

How can BNPLs weather the economic downturn without sacrificing growth and increasing their exposure

Christian Mangold - CEO, Fraugster Services GmbH

Elsewhere...

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Hamish Monk

The Future of Payments: New means of customer authentication

Hamish Monk - Writer - Finextra