NFC World

The Financial Data Exchange (FDX) has achieved a significant milestone with its official recognition by the Consumer Financial Protection Bureau (CFPB) as a standard-setting body for the US Open Banking ecosystem. Standard setting body for US Open Banking This recognition comes as the CFPB rolls out its new Open Banking regulation, underscoring FDX’s critical role […]

The European Union’s Instant Payments Regulation (IPR), which came into force in April 2024, marks a pivotal step in moving the financial landscape across the Single European Payments Area (SEPA) forwards. Instant Payments Regulation compliance deadline By standardising real-time payments, the IPR aims to bolster the digital economy, enhance cross-border transactions and meet the evolving

In an unusual about-turn, the UK’s Payment Systems Regulator (PSR) issued a statement confirming the implementation date for the APP fraud (Authorised Push Payments) protections to come into effect, and a new cap for mandated APP fraud reimbursement. The limit being consulted is £85,000, a whopping reduction of £330,00 from the previously touted maximum reimbursement.

In the latest chapter of a contentious partnership, JP Morgan has filed two lawsuits over its investment in Greek fintech Viva Wallet. JP Morgan retaliates over Viva Wallet investment The legal disputes highlight ongoing tensions between the US banking giant and its joint venture partner, Werealize.com (WRL), which holds a controlling 51.49% stake in Viva

Valuation of a private company is the process of determining the worth or value of a privately held company. Understanding the valuation process Usually, factors such as growth performance prospects, financial performance, risk factors and industry dynamics are taken into account. In the case of a publicly traded company, determining its market value is done

E-commerce is poised for continued growth, with global retail sales expected to reach $6.8 trillion by 2028. To get a stronger view on just how important this sector is going to be I strongly advise a quick read of a McKinsey report I covered yesterday. Tokenisation: a secure e-commerce However, as the digital shopping ecosystem

Open Banking in the UK and Europe was introduced in 2018, with regulations mandated by the EU’s Payment Services Directive 2 (PSD2). Six years later, has it caught on in America? Is the US ready for Open Banking? The premise was to level out the competition playing field, allowing fintechs greater access to consumer payments

In a move that has shaken the US financial sector, the Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against JPMorgan Chase, Bank of America, Wells Fargo and Zelle’s operator, Early Warning Services (EWS). CFPB takes on big US banks over Zelle fraud The suit, filed in the US District Court for the District

McKinsey & Company’s recent report identifies 18 emerging “arenas” – industries characterised by high growth and dynamism – that are poised to significantly impact the global economy. These sectors, including AI software and services, cybersecurity, future air mobility and robotics, are projected to generate between $29 trillion and $48 trillion in revenues by 2040, potentially

The European Payments Initiative (EPI) has achieved a significant milestone with the successful completion of its first end-to-end e-commerce payment transaction using its Wero solution. First successful Wero e-commerce transaction This proof of concept (POC) was carried out in partnership with 1. FC Kaiserslautern’s online store. EPI’s Wero aims to provide a sovereign, account-to-account payment