The Nordics’ P27 Initiative: Payments in Uncharted Waters

The advance of real-time payments around the world seems unstoppable, with 45 schemes currently live and a further 13 (at the time of writing) in the planning stages. In Europe, the Nordics’ P27 initiative – the world’s first integrated multi-country, multi-currency, real-time payments platform spanning Denmark, Finland, Sweden and Norway – promises to make headlines as it takes payments into uncharted waters.

The Pandemic Has Accelerated the New Era of Acquiring

The COVID-19 pandemic has accelerated many trends already taking shape in consumer purchasing behavior. Almost overnight, routine activities ranging from picking up groceries to buying gas unexpectedly became something that they had never been before – risky.

How Southeast Asia’s Banks Can Remain Competitive and Profitable in a Real-Time World

Cross-border payments across Southeast Asia are shifting as market dynamics, increased competition and increasingly demanding customers drive rapid change. As payment systems are modernized and the market evolves, banks and governments must stay on top of these trends.

Recurring Success: Exploring Subscription Payment Trends

When you think of recurring monthly expenses, there are certain obvious bills that come to mind: mortgage or rent, utilities and phone bill, among others. But today, monthly recurring expenses increasingly include things like online streaming services (music and entertainment), meal kits, pet treats, video games and clothing. It seems there’s a subscription service for everything these days — and consumers are taking full advantage.

The benefits of open banking for LATAM

Thanks to customer demand and regulations on how customer data can be gathered and used, open banking has seen rapid growth throughout the world. The EU and U.K. have been leading forces in the implementation of open banking, while countries such as Canada, New Zealand, Hong Kong and Japan have been quick adopters.

Only One-Third of Major Fuel Merchants Have Fully Implemented EMV and 20 Percent are Still in the Planning Stage

Earlier this year, we blogged about the issue of EMV implementation in the U.S. fuel sector and the fraud issues fuel merchants can expect to see if they’re not ready by the extended April 2021 deadline.

How Australian Financial Institutions Can Get the Most from Strong Customer Authentication

Whether viewed through the prism of 3D Secure 2.2 (3DS2), the AusPayNet CNP Fraud Mitigation Framework, or the Australian Government’s Consumer Data Right, strong customer authentication (SCA) is now — or about to be — mandatory for financial organizations across Australia. Here is a quick primer on how Australian financial institutions can make the most of SCA.

Omni-Commerce Is Heating Up the Merchant Token Revolution

Merchants around the world have embraced the wisdom of keeping sensitive customer data (such as card numbers) out of their own environments, with tokens emerging as the tool of choice to bridge the gap. Merchant functions — including reservations, returns, reporting, rewards, research, reconciliation and more — have typically required access to sensitive data, but a series of high-profile breaches has highlighted the need to store card numbers in tightly secured safe harbors.

How National Central Infrastructure Initiatives Create Immediate Business Opportunities

More and more countries and regional alliances are investing in the creation of new financial market infrastructures. Governments and leaders of central banks have decided that the finance industry needs investment to be fit for the demands of digital economies, suitable for the trailblazing businesses of the fourth industrial revolution.

Payments Modernization in the Cloud: An Inflection Point in the History of Payments

Public cloud is one of the big buzzwords in payments right now. While a few years ago financial institutions were reluctant to embrace the technology, they are now among the most likely to do so. ACI discussed the topic of Payments Modernization in the Cloud during a recent webinar, moderated by Finextra’s Head of Research Gary Wright. Katrin Boettger caught up with the panellists — Ciaran Chu, head of cloud at ACI; Peter Hazou, business strategy leader at Microsoft and Lu Zurawski, practice lead, retail banking at ACI — about why the COVID-19 pandemic might be a further catalyst for the worldwide adoption of cloud technology.

Defense in Depth: Fighting Fraud in India with a Multi-Layered Approach

There’s a quip, albeit ironic, making the rounds as forwarded emails and messages – “Who’s driving digital transformation among enterprises: CEO or CIO? The correct answer is COVID-19.” Going beyond impacting global well-being, COVID-19 is pushing the corporate world to rapidly introduce new measures for business continuity. Diametrically opposite to continuity, the black swan event of the novel coronavirus is creating disruption in terms of exploitation and fraud perpetration – especially in the banking and financial sector.

Age Matters: Generational Preferences in Bill Payments

Digitalization has taken the mainstage in the payments industry due to changing consumer preferences and now, in the midst of the COVID-19 pandemic, necessity. According to the 2020 ACI Speedpay Pulse report, one in four consumers has increased their usage of the biller’s website to pay bills, while one in five has decreased the number of payments they send by mail or make in person at a physical location. In addition, more consumers prefer digital statements (48.2%) to paper statements (25%), while around a quarter prefer to receive both digital and paper (26.8%).