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Major banks implicated as cryptocurrency fraud skyrockets to losses of $4.5 billion

12 Feb 20 @ 10:33

CipherTrace released its Q4 2019 Cryptocurrency Anti-Money Laundering Report. Among key research findings in this fascinating report, it was discovered that cryptocurrency users, exchanges and investors suffered $4.5 billion in crypto-related... read more

Point-to-Point Encryption (P2PE) is evolving – are you?

12 Feb 20 @ 10:08

Are you tired of the worn-out phrase “there is no silver bullet to PCI compliance”, or are you still looking for that magic solution to solve all your problems? If... read more

Future of Banking: The need to strike balance between technology and risk mitigation

11 Feb 20 @ 19:49

Technology and data advances will enable banks to provide customers with a hyper-personalised largely automated service within the next decade, replacing the traditional retail products-based approach. But the extent of... read more

Contactless payment transactions to reach $6 trillion 2024

11 Feb 20 @ 19:31

New data forecasts that global contactless payment transaction values will reach nearly $6 trillion in 2024, up from $2 trillion in 2020. The data found that this increase will be... read more

Mastercard prepare for domestic operations in China through NetsUnion JV

11 Feb 20 @ 15:56

Mastercard has announce that it has received in-principle approval from the People’s Bank of China (PBOC) to begin formal preparations to set up a domestic bankcard clearing institution in China.... read more

WhatsApp Pay sets sights on national roll-out in India

10 Feb 20 @ 17:10

The National Payments Corporation of India (NPCI) has granted permission to WhatsApp Pay, which will cater to 10 million users in India, close to two years after the company’s pilot run.... read more

Australian regulator seeks to break Visa and Mastercard debit card dominance

10 Feb 20 @ 16:29

It has been reported that the Australian regulator, RBA, will consider intervening to stop banks from automatically directing contactless debit card payments through the Visa and Mastercard networks, the central... read more

RS2’s new direct acquiring business launches in Latin America with MOViiRED

07 Feb 20 @ 16:46

RS2 Group has entered into a partnership agreement with MOViiRED Colombia. As part of this partnership, RS2 will launch its new direct acquiring business for the first time anywhere in... read more

Visa planning big changes to its interchange fee structure

05 Feb 20 @ 17:00

Visa is reported to be planning a complete overhaul of its interchange fee structure that merchants pay to accept its cards, hoping to persuade more people to abandon checks and... read more

Biometric authentication of mobile payments to surge 1,000% to $2.5 trillion

05 Feb 20 @ 15:03

According to a new report, biometric authentication will be used to secure $2.5 trillion worth of mobile payment transactions by 2024, an increase of almost 1,000% on the $228 billion... read more

European card payments growth slows to 2.7% as digital payments start to bite

04 Feb 20 @ 10:14

Independent research conducted for the Digital and Card Payments Yearbooks suggests that account-to-account digital payments may be starting to replace card payments in some of the world’s most advanced payments... read more

Consumers ready for next-generation technology to improve retail experience

04 Feb 20 @ 08:44

Most shoppers are now ready and waiting for retailers to implement innovative payment methods and in-store technologies to improve their shopping experience. These findings are part of a global study... read more

Visa and Mastercard heading to be the next trillion dollar companies

03 Feb 20 @ 18:35

Soaring stock prices are propelling Visa and Mastercard up the market value charts, where they currently rank 7th and 11th among companies in the benchmark S&P 500 index. The stock... read more

Cashless payments exceed cash transactions in Russia in for the first time

03 Feb 20 @ 16:43

Sberbank has analysed cashless payments in Russia under the SberData project, its big data analytics and processing initiative. For the first time ever, over a half of products and services... read more

Worldline agree to pay €7.8 billion for Ingenico in another mega merger

03 Feb 20 @ 11:03

Worldline has this morning announced it agreed a deal to buy local rival Ingenico in a €7.8 billion deal that will create a global player in the rapidly consolidating payments... read more

How fraudsters are attacking Open Banking weaknesses

30 Jan 20 @ 16:35

Two years ago, opportunity for the FinTech community was abound with the arrival of Open Banking. And while the initial uptake was slow to materialise, we are now finally realising... read more

Challenger bank N26 reaches 5 million customer milestone

30 Jan 20 @ 11:54

N26, one of the so called Challenger banks has reached the milestone of 5 million customers. N26 was founded in 2013 and raised $683 million (£520 million , €616 million... read more

Global financial institutions rack up $36 billion AML, KYC and Sanctions fines

29 Jan 20 @ 17:42

Fenergo released its findings on financial institution fines which shows that in December 2019 global penalties totalled $36 billion for non-compliance with Anti-Money Laundering (AML), Know your Customer (KYC) and sanctions... read more

Trending

Revolut eyes an IPO, but the valuation story is the real headline

21 Apr 26 @ 14:35

Revolut is beginning to sound more like a future public market heavyweight than a fast-growing European fintech. Chief executive Nik Storonsky has said the com... more

American Express launches agentic commerce developer kit

16 Apr 26 @ 11:46

American Express is positioning itself early for what could become one of the next major shifts in digital payments: AI agents that do more than recommend produ... more

Banks to reinforce cyber defences as AI changes the threat model

22 Apr 26 @ 19:36

Banks are hardening their cyber defences as artificial intelligence begins to alter the economics of digital attacks. For financial institutions, the challenge ... more