A recent study by Payhawk highlights a significant disconnect between the evolving role of CFOs and the technology they rely on to drive business success. Modern CFO’s dilemma: Technology gaps The report, The New CFO Technology Gap, underscores the urgent need for investment in modern financial tools as Chief Financial Officers take on expanded responsibilities […]

Bank of America’s CashPro App, a pivotal tool in corporate treasury operations, is poised to exceed $1 trillion in payment approvals by the close of 2024.            CashPro App to surpass $1 trillion This milestone represents a remarkable 25% year-over-year growth in app-based approvals, underscoring the increasing reliance on digital solutions

EBA CLEARING has unveiled a SEPA-wide Verification of Payee (VOP) solution designed to help payment service providers (PSPs) comply with the Instant Payments Regulation (IPR) and the European Payments Council’s (EPC) VOP Scheme. SEPA-wide verification of payee This innovative offering provides the 5,000 PSPs connected to EBA CLEARING’s RT1 and STEP2 systems with a comprehensive

The UK’s Financial Conduct Authority (FCA) has unveiled a long-awaited consultation on safeguarding requirements for UK payments firms, setting the stage for substantial regulatory shifts in the industry. Changing the game for UK Payments? While the measures aim to enhance consumer protection, they also present significant challenges for payments firms, particularly smaller entities and those

The British Retail Consortium (BRC) has released its 2024 Payments Survey, shedding light on evolving consumer payment behaviours and mounting challenges faced by retailers. The report highlights a second consecutive year of increased cash usage alongside surging card processing fees that are straining the retail sector. Cash Makes a Comeback Cash usage has risen for

The Financial Data Access (FiDA) Regulation, currently under consideration by the European Parliament and Council, represents a significant milestone in the development of Open Finance within the EU/EEA. Industry leaders weigh in on FiDA However, industry associations, including the Association for Financial Markets in Europe (AFME), the European Banking Federation (EBF) and the European Fund

In a ground breaking move, Vipps MobilePay has launched its “tap with Vipps” payment solution in Norway, becoming the first company globally to offer a viable alternative to Apple Pay on iPhone. Vipps MobilePay launch first Apple Pay alternative The launch follows a landmark agreement between the European Union and Apple, finalised in July, which

Due to increased e-commerce and online purchases, awareness and watchfulness regarding financial data protection should be given much attention. 6 tips to protect your online payments With the convenience of online payment, many globally are resorting to this century of transactions. This also comes with the need to stick to the right lane to avoid

In a significant legal move, Google has filed a lawsuit against the Consumer Financial Protection Bureau (CFPB), challenging the agency’s decision to supervise Google Pay. Google challenges supervision of Google Pay The case, filed in the US District Court in Washington, DC, raises questions about the scope of the CFPB’s regulatory authority over nonbank financial

Digital payments in Hungary have just become easier, cheaper and faster with the ‘qvik’ instant payment service, which was launched by the central bank in September 2024. Hungarian instant payments with qvik Consumers are now able to pay via QR codes, near-field communication (NFC) technology, mobile app links and payment request approvals for online payments