Fintech Trends
Card schemes to take Click to Pay standard global
Click to Pay is a new standard for online payments. Led by the major card issuers, the technology is intended to make the shopping process easier for consumers, and more efficient for merchants - including those in the fintech sector. Until now, Click to Pay has only been available in the US. However, in July 2020 it was announced that the standard would be rolled out globally. This news has …
The Growth of Banking Software as a Service and the Pi1 Case
Up until more recently, traditional banks and reputable financial institutions were the only way for individuals to gain access to any type of financial services, either payments, transfers, or loans. Monopoly and lack of relentless competition almost completely excluded the terms like ‘value-added’ or ‘customer-focused’ from the typical banking practice. Fintech firms and …
The Internet of Payments and Benefits of IoT in Financial Services
From smart speakers, wearables, and refrigerators to self-driving cars, connected homes, and smart cities — internet connectivity continually pushes back the limits and wins new markets. It can be reasonably called the next stage of the digital revolution, and it is expected to transform our lives significantly. Gartner foresees that there will be over 25 billion Internet of Things solutions in …
PSD2 and Open Banking Bring About New Security Threats. How to Prevent Them?
In September 2019, an updated European Union (EU) regulation, namely the Revised Payment Service Directive, and a global Open Banking API standard have entered into force. A few days after the official deadline, there were over 205 third-party providers (TPP) willing to assist businesses and individuals with payment initiation or account information services, and about 56 percent of them are from …