Payments News

On The Web

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Regulation

How digital banks are raising the bar for customer experience

“Digital-only challenger banks have changed customer expectations, including customer service and how customers want to use financial products. Big banks are taking notice, with companies developing sub-brands to hook younger, digital-savvy customers or others — the most recent of which is rumored to be the Royal Bank of Scotland.”
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Regulation

What PSD2 and open banking means for financial services in 2018

“In 2018, the financial services industry will undergo a transformation that will fundamentally change the relationship between consumers and retail banks. By giving consumers the choice of new direct-to-account payment methods and the ability to share their transaction data more freely with third parties, the EU’s Second Payment Services Directive (PSD2) and its UK implementation, ‘open banking’, […]
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Global

Speed, safety, and savings in direct payments

“PSD2 will create opportunities for new forms of payment. IATA is investigating how this could be applied to payments by passengers: both direct to the airline and indirectly via travel agents. The potential prize is huge. Globally airlines absorb more than $8 billion in costs for merchant fees and fraud.”
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On The Wires

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Regulation

Transakt Judged PSD2 Compliant for Strong Customer Authentication

“Entersekt, a leader in next-generation digital banking security, today announced that its mobile app security and authentication product Transakt has been endorsed by a key European consultancy as a “state of the art solution” to the European Banking Authority’s Regulatory Technical Standards (RTS) on strong customer authentication under PSD2. These specifications define the enhanced security […]