NFC World

Despite Britain announcing last week that it is officially out of recession, consumers continue to be wary and are increasingly turning to prepaid cards and adjusting their spending habits to manage the ongoing cost of living crisis and to avoid debt. 118% increase in prepaid use The survey, conducted by research firm Opinium, of 2,000 […]

New data from The Global Payments Report 2024 from Worldpay shows Account-to-Account (A2A) payments thriving in emerging markets – as well as some developed markets. Around the world, A2A payments are proving successful thanks to government support. In other key developed markets, however, consumer concerns and less pronounced regulatory enthusiasm have led to lower adoption. A2A:

With the world now accustomed to completing business transactions in three seconds or less, there is an opportunity for bankers to consider central bank digital currencies as a platform for innovation and a new way to accelerate cross-border payments. Blockchain systems for cross-border payments A report by Juniper Research on CBDCs and stablecoins found that

Payment providers are considering tokenization and blockchain-based decentralized finance systems to enhance transaction transparency, auditability and exploring various other use cases. Tokenization opens new frontiers for value creation Financial institutions and intermediaries are increasingly embracing the adoption of card tokenization to ensure the security of transactions across their entire lifecycle. In 2022, the global tokenization

Yesterday, the Eurosystem successfully completed the first experiment in using new DLT technologies for the settlement of wholesale transactions in central bank money. ECB conducts first DLT trials Initially, 16 private companies have been onboarded and will conduct trials involving actual settlement in central bank money and experiments with mock settlement in test environments. The exploratory work

Verizon Business has released the findings of its 17th-annual Data Breach Investigations Report (DBIR), which analysed a record-high 30,458 security incidents and 10,626 confirmed breaches in 2023—a two-fold increase over 2022. Data Breach Investigations Report The exploitation of vulnerabilities as an initial point of entry almost tripled from the previous year, accounting for 14% of

In a recent study conducted by Forrester on behalf of Fabrick titled, “Embrace Embedded Finance for Seamless Payment Success: A Spotlight on Europe,” valuable insights were obtained regarding the state of Embedded Finance across Europe. Embedded Finance trends in Europe The research, which spanned across the period of September 2023 to January 2024, surveyed 600

Real-time or Instant Payments networks operate 24/7 and provide numerous advantages, across flexibility, enhanced security, cost reduction and instantaneity. They also enable almost immediate money transfers between accounts, enhancing transaction speed, convenience, and efficiency, thereby reducing delays associated with traditional payment processing methods. With an anticipated 2023-2033 CAGR of 12.2%, instant payments are on track

Just over three-quarters (76%) of banks surveyed believe fraud cases and scams have become more sophisticated, according to the new Mitek Systems Identity Intelligence Index 2024 conducted in January 2024. Soaring fraud sophistication remains top challenge Financial institutions (FIs) are on the frontlines of the evolving threat landscape and the research reveals the concerns that

Fans of embedded payments say they’re the future: financial services working in the background, or “embedded” in other commercial functions. For some time, developments in technology have been making payments of all kinds easier, faster and cheaper – if not always safer. Industry visionaries imagine a future in which everything from banking to mortgages and