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In a ground breaking decision, the Competition Appeal Tribunal (CAT) has approved a £200m interchange fee settlement between Mastercard and Walter Merricks, the former solicitor leading the UK’s largest collective legal action. Mastercard £200m interchange fee settlement Initially valued at £14bn, the case, which began in 2016, sought compensation for consumers over interchange fees Mastercard […]

The European Payments Initiative (EPI) is advancing its ambition to create a unified digital payment system across Europe with its Wero wallet. Wero sets up next stage with partnerships As a mobile-first, instant account-to-account payment solution, Wero has already launched peer-to-peer (P2P) payments in Germany, France and Belgium. With further expansion plans, Wero is now

The latest NFC Forum’s Annual Report underscores the exponential adoption of NFC-based solutions across multiple sectors, catalysing innovations in payment systems, identity authentication, vehicular access and healthcare. NFC payments dominate consumer payments With notable advancements in security, operational efficiency and consumer engagement, the trajectory of NFC’s development signals a definitive shift toward frictionless and intelligent

A recent European Payment Study by BearingPoint highlights key trends shaping consumer behaviour, shedding light on the growing awareness of central bank digital currencies (CBDCs), particularly the digital euro. Despite the broader European shift towards digital payments, cash remains the dominant payment method in German-speaking countries. The study found that cash accounts for 69% of

The financial sector is facing an unprecedented surge in AI-driven fraud, with deepfake-related attacks increasing by a staggering 2,137% over the past three years. This alarming statistic, highlighted in a recent report, The Battle Against AI-Driven Identity Fraud, underscores the evolving sophistication of cybercriminal tactics and the urgent need for enhanced security measures across industries.

AI technologies are manifesting in many different ways, solving many different problems and creating many new opportunities in payments and financial services. The only wAI is up! There are operational applications, that serve middle to back office efficiency goals, and front office developments that create novel solutions and services for the end user. AI itself

Since its introduction in 2018 by the UK, European Union and Mexico, Open Banking has grown into a powerful force for financial innovation. Creating the world’s best Open Banking regime Today, countries like Brazil, India and South Korea are leading the charge, expanding Open Banking into Open Finance by integrating services such as insurance, investments

Visa has expanded its ‘Tap to Add Card’ feature in Ukraine, Georgia and South Africa, enabling cardholders to add their contactless Visa cards to digital wallets by simply tapping their cards on NFC-enabled mobile devices. Visa expands ‘Tap to Add Card’ feature The rollout, originally launched at the annual Visa Payments Forum in San Francisco

Standard Chartered has announced a collaboration with Animoca Brands and Hong Kong Telecommunications (HKT) to launch a Hong Kong dollar-backed stablecoin. Hong Kong Dollar-backed stablecoin The trio aim to secure a license from the Hong Kong Monetary Authority (HKMA), positioning themselves at the forefront of Hong Kong’s push to establish itself as a leading hub

Economic crime is a growing global challenge, costing businesses and governments billions each year. The fight against economic crime Despite efforts to combat fraud, money laundering and financial misconduct, criminals continue to exploit regulatory gaps and outdated technology. A recent report by  Global Counsel and  Enveil highlights a crucial solution: improved data sharing between financial institutions,