NFC World

News from the NFC World journal

Responsible cloud migration – The data security challenge

Since the world went digital the value of data has been unprecedented, and as businesses race to adopt the latest tech to optimise and monetise their data it is set to increase in value at an exponential rate. Responsible cloud migration However, whilst data is widely regarded as an organisation’s main asset, data accountability is […]

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Ecommpay extends Token partnership for Open Banking payments

Ecommpay has extended its partnership with Token.io adding virtual accounts in four new markets — the Netherlands, Spain, France and Ireland. Ecommpay extends Open Banking payments Ecommpay Open Banking Advanced, delivers cash-flow and customer experience benefits for e-commerce businesses. With the A2A payment market forecast[1] to grow significantly, Ecommpay says it is committed to delivering

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Fiserv and Wells Fargo walk away from acquiring JV

In a significant shift within the payments industry, Fiserv and Wells Fargo are preparing to conclude their long-standing acquiring joint venture, Wells Fargo Merchant Services (WFMS). Fiserv and Wells Fargo end acquiring JV Initiated in 2019 following Fiserv’s acquisition of First Data, this partnership was designed to harness Wells Fargo’s vast customer base and sales

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Customer loyalty protects traditional banks from fintechs gaining ground

Kearney has released the latest data from its annual European Retail Banking Radar, finding that more than two-thirds (73%) of European bank clients have kept their primary account at the same institution for five years or longer. According to Kearney, over half of Europeans (55%) still bank with one institution, with this figure as high

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Report: A deep dive into payment fraud in the EU

The European Banking Authority (EBA) and the European Central Bank (ECB) have jointly published the 2024 Report on Payment Fraud, providing a critical analysis of data from the European Economic Area (EEA). The report offers a comprehensive overview of fraud levels across credit transfers, card payments, direct debits, cash withdrawals, and e-money transactions. It also

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Legacy systems still weigh heavy but payments are priority

Retail banking is in various degrees of flux yet it is becoming clear that payments have fast become the differentiating factor for success. While much of the noise around modern service offerings centre around the customer experience – and rightly so – it is helpful to define what exactly constitutes good customer experience. Open Banking-based

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Visa bolsters financial crime ability with Featurespace acquisition

Visa has announced it has signed a definitive agreement to acquire Featurespace, a developer of real-time artificial intelligence (AI) payments protection technology that prevents and mitigates payments fraud and financial crime risks. Visa acquires Featurespace The acquisition of Featurespace will strengthen Visa’s portfolio of fraud detection and risk-scoring solutions used by clients to grow and

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The future of biometric authentication in B2B payments

As the digital economy expands, the demand for more secure and seamless payment solutions is intensifying, particularly in the business-to-business (B2B) sector. The future of biometric authentication While biometric authentication has already gained popularity in consumer payments through technologies like facial recognition and fingerprint scans, its potential in B2B payments is only beginning to be

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