Payments News

On The Web

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Reports

Regulatory Analysis of KYC for Covid-19 in Emerging Markets

The Financial Action Task Force (FATF) recently issued their Guidance on Digital ID that focuses on account opening, with particular focus on doing so remotely. These recommendations have increased salience given global physical distancing guidelines now in force in many jurisdictions to avoid the spread of COVID-19. In this PaymentsViews, Zak Kazzaz conducts a regulatory […]
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Reports

How COVID-19 Is Impacting Consumer Payment Preferences

“To discover how COVID-19 has directly impacted how consumers view payments today, and what this might mean for eCommerce in the future, we surveyed 8,000 consumers from the US, UK, Canada, Germany, Austria, Italy and Bulgaria on their current and predicted future attitudes to payment methods.”
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Reports

Covid-19, cash, and the future of payments

“Key takeaways: The Covid-19 pandemic has fanned public concerns that the coronavirus could be transmitted by cash. Scientific evidence suggests that the probability of transmission via banknotes is low when compared with other frequently-touched objects, such as credit card terminals or PIN pads. To bolster trust in cash, central banks are actively communicating, urging continued […]

On The Wires

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Companies

Global Visa Study Finds 67% of Small Businesses and 78% of Consumers Have Adopted New Behaviors to Adjust to COVID-19

“As small and micro businesses (SMBs) worldwide continue to endure the financial impact of COVID-19, one thing is clear: rethinking the checkout or point-of-sale (POS) experience is essential for survival on Main Street. Visa today released the Visa Back to Business study assessing this dramatic shift to digital commerce in response to the pandemic, driven […]
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Domains

CPMI Report Identifies Steps to Enhance Cross-border Payments

“Cross-border payments suffer from a number of frictions – they can be slow, expensive, unreliable and unavailable in some countries. These shortcomings are longstanding and have been thrown into sharp relief by improvements in domestic payments and by developers of proposals for new payment arrangements, like Libra. To address these issues, in response to a […]
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Reports

Federal Reserve System White Paper Examines Mitigation of Synthetic Identity Payments Fraud

“The Federal Reserve today released the latest in a series of publications about synthetic identity fraud – a white paper titled Mitigating Synthetic Identity Fraud in the U.S. Payment System. A synthetic identity is created by using a combination of real information (such as a legitimate Social Security number) and fictitious information (which can include […]
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Domains

Automation Continues to Drive Use of Electronic Payments by Businesses

“MineralTree, a market-leading accounts payable (AP) and payment automation solution provider, today released its fifth annual State of Accounts Payable Report, a survey of over 1,300 finance executives and professionals in the middle market. The research looks at key trends, challenges, and opportunities in accounts payable operations. Annual B2B payment volumes in the US are […]
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Reports

BIS Encourages Central Banks to Continue Adapting to the Challenge of Digital Payments

“Central banks, as guardians of the safety and integrity of the payment system, must keep evolving to meet the challenge of rapidly accelerating digital innovation, the Bank for International Settlements (BIS) writes in its Annual Economic Report. In a special chapter on central banks and payments in the digital era , the BIS analyses the implications […]