Brazil has become the next country to accept “Open Banking” and has spurred a new regulation that allows only licensed institutions to share valuable customer information. With these new rules, it allows banks, payment institutions, and other organizations that are licensed by the Banco Central do Brasil, to share (at the customer’s volition) transaction and registration data from legal entities...
Spreedly, a leading payments orchestration platform, has collaborated with Visa to broaden the adoption of network tokenization. They have teamed up to launch a program to extend the acceptance of “network tokenization” through Spreedly’s Payment Orchestration Solution throughout Latin America. They will initiate a project in Argentina and will then spread into other markets throughout the area. Why This Is...
Since the emergence of e-Commerce back in the 1990s, digital fraud has been a formidable foe for businesses. Unfortunately, this trend has not shifted, but only grown from strength to strength with every passing year. In a study conducted by Experian, it was found that the losses stemming from “fraudulent identities” grew from 51% in 2017 to 57% in 2019....
Shopify, one of the most popular eCommerce platforms for businesses, is offering its payments tool Shop Pay to merchants on Instagram and Facebook. By using Shop Pay, those merchants using Shopify to sell on Facebook and Instagram can use this payments tool for buyers to experience a more secure checkout. In the past, the only payment options available on social...
In a campaign to promote the use of cryptocurrencies, Miami Mayor Francis Suarez has proposed to pay city workers and collect taxes using Bitcoin. According to a resolution that was passed by it’s governing commission, the mayor wants to also grant city workers the choice to either receive a portion or their entire pay in Bitcoin. Moreover, the mayor has...
According to Global Market Insights, it was discovered that the global smart card market is anticipated to hit $65 billion by 2025. The smart card, also known as the contactless card, is unequivocally the most accepted form of payment. The outbreak of the pandemic earlier this year has also driven many customers around the world to adopt contactless methods of...
Integrated payables is a system that simplifies the payment process that enables businesses to send all of their vendor payments as a single, “online payment file” to their bank. The bank then processes and allocates the payment as per the instructions given by the business. Integrated Payables Have Benefits So what are the benefits of adopting integrated payments? Having integrated...
Trade finance is a field within financial services that are still trapped in the outdated use of paper and legacy systems. Leaders within the FinTech industries lament that this lack of innovation is partially to blame for the approximate $1.5 million “trade finance gap” that continues to afflict the market worldwide. As explained by Tsafrir Attar, vice president of Digitization...
Due to the radical change in spending priorities induced by the COVID-19 pandemic, overall e-Commerce spending has soared at a faster rate than ever. Payment gateways play a vital role. A payment gateway that is well-functioning and efficient is the keystone of every transaction. The holidays will definitely put many payment gateways to the test as they will face higher...
Despite the skepticism that surrounds the use of cryptocurrency, more businesses both big and small are embracing this new digital currency and with good results. What many companies have found is that opening up and accepting digital currencies also opens them up to a new, wider consumer base. This is largely because more consumers around the world are considering and...
