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Swift introduces fraud tool but comes under pressure from hacking group NSA claims
Swift has revealed a service designed to help banks spot fraudulent messages and avoid a repeat of the now infamous Bangladesh Bank hack. Customers are able to integrate the service directly into their Swift messaging flows, making it easier to detect unusual patterns, screening the messages according to their own chosen risk and compliance policies. Launched as [...]
The post Swift introduces fraud tool but comes under pressure from hacking group NSA claims appeared first on Payments Cards & Mobile.
ACH volume grows to more than 25 billion payments and $43 trillion
Following four consecutive quarters of more than 5 billion electronic payments in each quarter – a first for the ACH Network – overall volume in 2016 amounted to 25.6 billion transactions,[1] according to new statistics released by NACHA — The Electronic Payments Association. This represents an increase of 5.3% over 2015 volume, and is the [...]
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A step towards financial inclusion with mobile banking using new ISO standards
Mobile banking not only makes our life easier, it gives access to banking services to those that have none. A new series of standards just published will provide the platform for this technology to expand and grow, bringing robust and secure banking services to more people than ever before. According to the World Bank, around two billion [...]
The post A step towards financial inclusion with mobile banking using new ISO standards appeared first on Payments Cards & Mobile.
Hong Kong Central Bank set to trial digital currency due for launch in 2017
Hong Kong’s central bank, the Hong Kong Monetary Authority is reported to be developing a prototype digital currency. The disclosure came in a Hong Kong legislative document published by the Legislative Council Panel on Financial Affair this week and dated 18th April. According to the note, the Hong Kong Monetary Authority (HKMA), which acts as the region’s central [...]
The post Hong Kong Central Bank set to trial digital currency due for launch in 2017 appeared first on Payments Cards & Mobile.
Disappearing payments: How to navigate the future
The future of payments won’t be about payments, it’ll be about data. Specifically the contextual data that travels with payment, rather than the payment message itself. Payment will cease to be the most visible part. In time it may even disappear. We examine how disappearing payments will create a long-tail of disruption for consumers, merchants, [...]
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