Payments News

On The Web

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Reports

Fintech and Payments: Regulating Digital Payment Services and E-money

“Improvements in technology, coupled with growing demand for digital payment methods, are increasingly reshaping the way payments are made. Non-bank institutions now offer a wide range of retail payment services. This raises the question of where the regulatory perimeter should be drawn. Financial authorities now face the task of deciding whether the risk profile of […]
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Reports

Economic Well-Being of U.S. Households in 2020

“This report describes the responses to the 2020 Survey of Household Economics and Decisionmaking (SHED). The Federal Reserve Board has fielded this survey each fall since 2013 to understand the wide range of financial challenges and opportunities facing families in the United States. The findings in this report primarily reflect financial circumstances in the fourth […]
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On The Wires

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Reports

Remote Authentication Fraud: Are You Who You Say You Are? – FedPayments Improvement

“Heightening the need for greater attention to authentication fraud, the COVID-pandemic increased demand for more consumers to enroll in online or mobile (digital) accounts to make remote payments. In fact, average U.S. consumer e-commerce spending was 36% of total spending in December 2020, up from just 26% in March 2020. [1] Unfortunately, fraudsters have noticed […]
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Reports

Accuity Study Reveals Failed Payments Cost the Global Economy $118.5 Billion in 2020

“The cost of failed payments is estimated to have cost the global economy $118.5 billion in fees, labor and lost business in 2020 according to the latest study from Accuity, a LexisNexis® Risk Solutions company. The total cost of failed payments regionally was $41.1 billion in EMEA, $33.7 billion in the Americas and $43.7 billion in Asia-Pacific (APAC). The report shows that the average cost […]
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Providers

Finastra Survey Finds Banking As a Service (BaaS) Set to Make Significant Impact on Financial Services in Next 12 Months

“Finastra research reveals that Banking as a Service (BaaS) and embedded banking services are set to have a notable impact on the industry in the next 12 months. Whilst all markets broadly anticipate this trend – 85% of respondents at global financial institutions – Hong Kong (92%), the UAE (90%) and Singapore (87%) expect the impact to be greatest. […]
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Reports

The Digitalisation of Money

“The ongoing digital revolution may lead to fundamental changes to the traditional model of monetary exchange. Digital currencies facilitate instantaneous peer-to-peer transfers in a way that was previously impossible. New currencies that transcend national borders could redefine how payments and user data interact. They could affect the nature of currency competition, the architecture of the […]
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Providers

The Evolution From Data Access to Data Control | Plaid

“At Plaid, we believe that people should have control over their financial information. We built our first API to help people connect their accounts across thousands of financial services providers. Now we’re building new experiences to give people even more control over the financial data they choose to share with their favorite digital finance tools. […]