News from the IoT World

The rapid rise in data breaches and transactional fraud has underscored the urgent need for robust digital identity systems in financial services. Digital identity in financial services With technological advancements, Open Banking frameworks and evolving regulatory landscapes, digital identity is emerging as a cornerstone for secure and seamless financial ecosystems. To combat rising cyber risks, […]

EBA CLEARING has announced the go-live of an OCT Inst Service, which was implemented in the pan-European RT1 System on 17 November 2024 at the request of its users. OCT Inst Service goes live in RT1 The new service allows payment service providers to leverage the pan-European instant payment system for cross-border payments that have

As e-commerce continues to expand – projected to reach $6.8 trillion in global sales by 2028 – consumers are demanding faster, safer and more seamless checkout experiences. Can tokenization transform e-commerce Yet, cart abandonment remains a persistent challenge, with 70% of online shoppers discarding their purchases mid-checkout, according to the Baymard Institute. Tokenization has emerged

From the proliferation of generative AI to the adoption of real-time payments and blockchain, the payments trends shaping 2025 and beyond will transform the future of commerce. Payment trends to watch in 2025 The payments landscape is evolving at an unprecedented pace, with technology driving innovation and reshaping the way businesses and consumers interact. Here

The Payment Systems Regulator (PSR) has taken a decisive step to address the soaring costs of cross-border interchange fees on card transactions. Cross-border interchange fees cap Following a detailed review, the PSR has confirmed that Visa and Mastercard’s substantial increases in cross-border interchange fees are harming UK businesses, with costs rising by an estimated £150-200

Visa has announced that with Visa Direct, funds transferred to US bank accounts will be available within 1 minute or less starting in April 2025. Visa Direct funds available in 1 minute Consumers, businesses and governments can use Visa Direct to deposit funds to bank accounts linked to eligible debit cards in real-time. Whether splitting

21X, which has just received the first ever license to operate an EU-regulated venue for the trading and settlement of tokenized securities, has announced details of its participation and success in the European Central Bank’s (ECB’s) experiments. 21X successfully conducts CBDC transactions The project, in partnership with the Banque de France, as part of the

Episode Six has announced a strategic partnership with Muloot, a new financial services brand from Aspire Commerce Group. Episode Six partners with Muloot As part of the collaboration, Episode Six will enable Muloot to offer debit cards and card transaction processing services to its thousands of business and personal customers from Q1, 2025. Muloot was

Cryptocurrencies have taken finance a few steps forward by changing how funds are sent and received. This improvement cuts across nearly every sector that collects payments for various reasons. Paying for entertainment with cryptocurrencies In the entertainment industry, cryptocurrencies are expanding payment methods, allowing increased access to music, movies, gaming and gambling. The integration of

The European mobile payments landscape is undergoing a significant transformation as leading providers BLIK and Swish unveil plans to expand their iOS NFC payment capabilities. BLIK and Swish iOS NFC expansions With Android users already enjoying seamless tap-to-pay functionality, both systems are now turning their attention to iOS users following Apple’s recent decision to open