The Monetary Authority of Singapore and the Federal Reserve Bank of New York are teaming up to explore the use of wholesale CBDCs for cross-border payments.
Digital Isle of Man (an executive branch of the Isle’s government) has announced the launch of the Fintech Innovation Challenge, an opportunity to engage with international stakeholders and industries in their digital ecosystem.
Saudi Arabia's central bank has published an open banking framework, setting out legislation, regulatory guidelines and technical standards.
The pandemic birthed a new era for e-commerce fraud, and the risks and vulnerabilities have never been greater. Data breaches and credential phishing alone exposed more than 1.1 billion personal records last year.
ACI Worldwide, a global leader in mission-critical, real-time payments software, recently released its latest Prime Time for Real-Time Report. It features 53 global markets with insights and expertise on the trends, technologies and initiatives driving real-time success.
In Q2 2020, when online sales jumped with the onset of the pandemic, the percentage of CNP fraud dropped to 12% of transactions, compared with 13% in Q1 2020. Unfortunately, the average fraudulent transaction rose 10% from $126 to $139 per transaction in Q2 2020.
With the accelerated digital transformation over the past few years, businesses of all kinds have expanded their global reach – a historically unlikely capability.
Innovation in the payments industry has made bill payment more convenient than ever, with mobile-first consumers able to pay from anywhere, using all types of payment, at any time.
For many retailers, adding apps was a must to survive the restrictions on brick-and-mortar shopping. However, in a rush to get apps to market, many were built without security features to prevent fraudsters from copying the apps, altering them, and turning them into phishing apps that impersonate the retailer’s brand.
Protecting customer privacy and security has always been a priority for financial services, but as new developments like password-less logins; open, standardized platforms; and peer-to-peer (P2P) payments transform the space, businesses of all sizes need to know how to keep up with innovation and not get left behind.
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