NFC World

US businesses and consumers are rapidly adopting digital, instant payments services, according to studies released by Federal Reserve Financial Services. Digital wallet use saw especially strong growth in 2023 — efficiency-focused businesses increased their use by 31% over the prior year, and convenience-minded consumers experienced a 32% increase. These changes, particularly consumers’ use of digital […]

Gallant Capital Partners, through an affiliate, has acquired Fime as well as the UL Solutions payments testing business (collectively, the “Company”), combining the technical capabilities and expertise of both businesses under the Fime brand. Gallant Capital acquires Fime Stakeholders across payments, smart mobility and digital ID can now access the industry’s most complete set of

Global real-time payments (RTP) growth has reached sustainable levels with 266.2 billion real-time payments transactions recorded in 2023 – a year-over-year (YoY) growth of 42.2% – according to the 2024 Prime Time for Real-Time report. While previous reports highlighted the economic benefits of real-time payments and consumer uptake around the world, this year’s report—now in its

The payments industry is undergoing rapid modernisation to stay current with digitally transforming economies and address rising end-user expectations. Customers are now asking for real-time payments for daily domestic and cross border payments, such as bill payments, or cross-border payments involving different currencies. Despite ongoing efforts by payment regulators and industry bodies across geographies to

It all started in early 2024 when a fairly interesting news story sparked headlines: UPI selects Google to take digital wallet global. India’s UPI making major global moves The basis of the deal was that The National Payments Corporation of India (NPCI) selected Google Pay as part of its strategy to take India’s digital wallet

Fresh research reveals that while organisations are using data to drive innovation and new strategies, fewer than 2% of respondents can access sensitive and classified data in less than a week. Data compliance is hampering business innovation Despite 92% of respondents agreeing that the innovation resulting from data has a positive impact on the bottom

Payment services innovation like pay by bank and BNPL is expanding the options for shoppers and merchants, giving competition to incumbent card issuers. Card alternatives like pay by bank on the rise Long-dominant card payment schemes are facing newcomers leveraging new-age technologies that promise frictionless, more convenient, and fast payment transactions. The pay by bank

The Dark Web garnered massive amounts of headlines a few years ago when the enormity of its size was first made publicly aware. Also the amount of unscrupulous criminal activity that was being conducted on the Dark Web was also a key theme. The Dark Web – Trends to watch for in 2024 Since then

The U.S. Supreme Court says it has declined to hear an appeal from Visa and Mastercard over a decision allowing consumers and ATM operators to band together in class actions seeking billions of dollars in damages over access fees. US Supreme Court allows ATM fees class action The U.S. Court of Appeals for the D.C.

Nearly 70% of the 600 fraud-management, anti-money laundering, and risk and compliance officials surveyed in a new report, AI-focused fraud and financial crime, say criminals are more adept at using artificial intelligence to commit financial crime than banks are at using the technology to stop it. Equally concerning, around half of those same fraud-fighters report an