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Only 5% of banks and other financial institutions are aware that the EU Payment Services Directive (PSD2) will require open access to customer accounts, according to a UK law firm TLT’s Digital Banking report. This is despite 67% stating that they were well prepared for PSD2. Post-Brexit, some UK banks may have been hoping to [...]

The post FI’s unaware of customer account access obligations under PSD2 appeared first on Payments Cards & Mobile.

The rise of third-party m-payments in China at the expense of credit and debit cards is threatening commercial banks’ access to the customer data viewed as crucial to newly emerging financial and consumer business models. The president of Ant Financial, Alibaba Group’s finance affiliate, told the Financial Times earlier this month that payments through its [...]

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The post FinTech disrupting financial services series: Infograph 2 appeared first on Payments Cards & Mobile.

Payworks has launched Pulse, a next generation payment gateway technology, simplifiying in-person card payments by making it quick, easy and cost-efficient for developers to integrate card readers into their Point of Sale solutions, both in stationary and mobile environments. Customers using a payment solution powered by Pulse are able to pay using the latest payment [...]

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Having kept their distance from bitcoin, fearing the risks of fraud and criminality, big banks now see huge potential benefits from harnessing the blockchain to make the existing financial system more efficient. “In today’s banking world, it is all about cost savings, as they are all struggling with low returns and that is why they [...]

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