Boaz Gam
Recent articles
Payment Innovation in LATAM: Key Trends & Challenges Overview
Contrary to popular belief, many industry experts agree that Latin America’s financial landscape offers greater potential for innovation than the seemingly more developed payment scene of the United States.
AI-Based Risk & Fraud Prevention: A Glance at Visa’s New Solutions
The modern market is full of novel digital solutions that optimize daily processes for businesses and consumers alike. However, while fintech tools actively evolve, so do fraudulent practices. In response to these unwanted shifts, payment service providers are hopping on the AI trend and introducing new techniques to safeguard sensitive data and promote transaction security.
Recurring Payments: Do They Bring Value to B2B Commerce?
Recurring payments are transactions that are set up to occur automatically at regular time intervals. They are the key components of subscription-based business models and are extremely popular in the consumer retail sector. However, their implementation within the B2B space is only beginning to gain momentum.
Global Commerce Insights: Expanding into Growth Markets
Lately, emerging markets have been experiencing a surge in commercial activity fueled by the increasing adoption of innovative fintech solutions. This tendency has resulted in significant shifts in consumer behavior and the introduction of various novel products and services. Due to this, expanding into such areas is not only exciting but also often challenging for retailers.
The Ultimate Guide to Online Payment Methods Across the Globe
In today’s globalized world, companies have the opportunity to expand their business across borders and reach out to consumers in every corner of the planet. However, to truly thrive in this environment, it’s crucial to find the right approach to local audiences. One effective way of achieving this is by adapting to the diverse payment preferences linked to various geographical areas.
Spotlight on Global eCommerce: How Is It Evolving Nowadays?
2023 marked 41 years from the moment the concept of eCommerce was introduced at the opening of the Boston Computer Exchange in 1982. Since then, this field has undergone numerous changes and is now entering a new era of slower development. This process began a while ago - in fact, already in 2022, the sector experienced its lowest YoY sales growth since its inception.
Key Factors Shaping the APAC Region’s Payment Landscape in 2024
In the first quarter of 2024, it has become evident that commerce in the Asia Pacific (APAC) region is gearing up for some major changes. This is mainly due to the emergence of new technologies and shifting consumer habits, which are making the payment scene in countries like Australia, Singapore, Japan, and Malaysia actively fill up with innovative solutions.
The Value Behind the One-Leg Out Instant Credit Transfer Scheme’s Rulebook
In June 2023, the European Payments Council (EPC) released the updated rulebook for the One-Leg Out (OLO) Instant Credit Transfer (OCT/SCT Inst) scheme. This extensive document contains the guidelines, practices, and standards necessary to ensure interoperability in offering and managing the Euro Leg of international instant credit transfers within SEPA.
Main Tech Trends Set to Revolutionize Commerce by 2030
The commerce sphere is always at the forefront of adopting innovative tech solutions. One of the key reasons behind it is the fact that selling products and services to consumers in such a dynamic landscape requires merchants to continuously optimize their operations and stand out through unique offerings.
Handling Chargebacks in 3 Steps: The Ultimate Merchant’s Checklist
Chargebacks, whether stemming from genuine concerns or fraudulent activities, pose a pressing issue for merchants. After all, these fees have the power to chip away business revenue, drain valuable resources, and negatively affect the company’s reputation.
How to Boost Payment Acceptance Rates: A Comprehensive Guide
The payment acceptance rate is a key performance indicator that reflects the ratio of consumer-initiated transactions that were completed successfully. As practice shows, a good benchmark for this KPI is anywhere around 80% or higher, so if your eCommerce business consistently sees lower figures, it is a clear sign that it is time to reconsider your approach.
The 2024 Outlook for Credit Cards: Navigating Turbulent Times
Over the past several years, the global payment ecosystem has been experiencing significant challenges, such as major economic shifts caused by the pandemic, rising inflation, and increasing interest rates. These issues have been manifesting themselves across a variety of aspects, including the performance of credit cards.
Main Cross-Border Payment Hurdles Amid Rapid Modernization
According to a paper published by the US Faster Payments Council in January 2024, the value and volume of international transactions over the past decade have grown by 37% and 61%, respectively. While such an increase reflects the improving interconnectedness of the global economy, it also emphasizes the need for more efficient cross-border payment systems.
X Is Taking Charge of Payments: Which Changes to Expect?
In a blog post published on January 9, X, the social media platform previously known as Twitter, confirmed its intention to release an in-house peer-to-peer (P2P) payment solution in 2024. This is big news, as it marks a significant step toward X achieving its goal of becoming an “everything app” with extensive financial capabilities.
NFC Vs. QR Code Payments: Which Method Will Take Center Stage?
Today’s payment landscape offers users a wide array of alternatives to choose from. Among this variety of options, transactions employing NFC chips and QR codes have become particularly popular over the past few years. What’s more, as we navigate through 2024, we can expect the competition between these two contactless technologies to intensify even further.
Improving Payment Accessibility: A Detailed Guide for PSPs and FIs
Modern society is becoming increasingly aware of the faults of the past and is focusing on building a better world with core values at its foundation. In the payment sphere, this tendency translates to shaping a financial landscape that embodies transparency, fairness, and accessibility. Yet, the journey toward providing inclusive financial services to every individual is a challenging one.
Payment Industry Trends 2023 Rundown: Expectations Vs. Reality
As 2024 approaches, it can be tempting to start looking into payment industry predictions. Yet, before delving into future trends and developments, it is crucial to review the past year’s valuable lessons. In fact, one of the most important questions that can be asked during such a reflection is: “Did the industry trends match the experts’ predictions given at the beginning of 2023?”
Are Bank Cards Soon to Become a Thing of the Past?
Now that the payments landscape is abundant with innovative digital solutions that require nothing but a smart device at hand to make a purchase, many begin to wonder: are debit and credit cards becoming outdated?
The UAE’s Financial Transformation Agenda: Digital Dirham & Beyond
An increasing number of jurisdictions across the globe are beginning to recognize the potential of Central Bank Digital Currencies. In recent years, we have seen countries like Sweden, Nigeria, the UK, and the Bahamas, to name a few, roll out their CBDC initiatives. And, based on the latest news, the UAE is ready to join this list, with the first phase of its Digital Dirham project going live in mid-2024.
Payment Convenience & Sustainability: Can Businesses Ensure Both?
Nowadays, running a business entails way more than simply attracting clients and ensuring continuous sales. Modern company owners face a variety of considerations that sometimes can be difficult to balance simultaneously. For instance, how do you ensure a convenient payment flow for your clients while keeping it as sustainable as possible?
Which Trends Are Set to Transform eCommerce in 2024?
The modern payments landscape is continuously undergoing major transformations that never fail to impress. Think about it: in 2021, most people couldn’t even imagine that an iPhone would be used as a POS in business operations. Besides, until BNPL caused a revolution during the pandemic, the only widely accepted way to pay for products and services in parts was by using a credit card.
Latest Insights into Latin America’s eCommerce & Payments
Latin America is a promising market that is undergoing major shifts. Currently, its evolution is driven by digitization, rising internet penetration, increasing consumer purchasing power, robust government support, and intensifying interest in online shopping. In turn, all these factors combined together create a fertile ground for innovative solutions to emerge and thrive.
Digital Payments in Asia: An Overview of the Top 3 Local Challenges
The Asian continent is known for being proactive in adopting new tech and creating innovative digital solutions across a variety of spheres, including healthcare, education, and finance. While this statement is also true for the local payment scene, many industry analysts agree that it is still only taking its first evolutionary steps.
The New Version of the SRTP Scheme Rulebook Is Out: What’s Next?
On November 30, 2020, the European Payment Council’s (EPC) 3.1 version of the rulebook for its Single Euro Payments Area (SEPA) Request-To-Pay (SRTP) scheme went into effect. While this is undoubtedly a significant step forward, not many know what exactly its consequences for the wider payment scene are.
How Can Merchants Handle the Holiday Season Effectively?
The holiday season is already here! While for consumers, this time of year is synonymous with an opportunity to stock up on presents for their loved ones, for many merchants, on the other hand, it presents an annual challenge. After all, the period starting from Halloween and up until New Year’s Eve is incredibly busy and requires fast and efficient handling of sales, special offers, and refunds.
What Are Closed-Loop Wallets & How Can Merchants Benefit From Them?
While the eCommerce landscape is continuously shifting, the search for payment solutions that are both convenient and secure remains a constant. Closed-loop wallets have proven themselves to be a game-changer in this regard and have quickly become an indispensable tool for merchants and aggregator platforms.
Why Are Mobile Wallets the Top Choice for Bill Payments?
Paying bills is a universal experience. However, as the world is undergoing a rapid digital transformation, multiple fintech solutions arise, and so do advanced cases of fraud. This makes many consumers wonder - which method is the safest and most efficient for invoice payments?
Key Driving Forces Within the UK’s Modern Payments Landscape
The global payment arena is a highly dynamic environment that requires players to be agile, adaptable, and resilient. One example of a country juggling multiple grand projects to stay ahead of the game is the UK, which is actively pursuing the migration of its technological platforms to the ISO20022 standard while navigating the intricacies of being one of the world’s busiest fintech hubs.
Apple Pay’s Open Banking Integration for UK Wallet Users Explained
Thanks to Apple Pay’s open banking integration that was soft-launched in September 2023, users across the UK can now enjoy an innovative feature in the Wallet app. But what exactly is it all about, and how can consumers benefit from it? This guide is here to answer all the burning questions!
BNPL in the B2B Sector: Evolution & Key Opportunities Explained
Buy Now, Pay Later (BNPL) services are currently experiencing their golden age, with the global total payment volume reaching a staggering $309.2 billion. What’s more, the interest toward them is forecast to continue growing, as the number of BNPL users worldwide is set to double, hitting 900 million by 2027, and the industry’s overall size is anticipated to sum up to $3.7 trillion by 2030.
The Complete Guide to the Pan-African Payment & Settlement System (PAPSS)
The African continental market boasts a collective GDP of approximately $3.4 trillion and a population of over 1.3 billion people. Yet, it also features only 18% of intra-regional trade transactions, which is the lowest index in the global arena, presenting a stark contrast to Europe’s 70% and Asia’s 59%.
How Will Commerce and Payments Change by 2030?
The pace of the evolution of commerce has exceeded the expectations of most experts and industry observers from a few decades ago. Think about it: the first POS terminal was developed in 1973, and already today, traditional and digital payment channels intersect, transactions are processed in real time, and it’s enough for a merchant to have a smartphone to facilitate purchases.
Top Retail Trends Merchants Can’t Ignore in 2024 & Beyond
The retail sphere has been experiencing drastic changes over the past years, following the global pandemic. What’s more, this sector is generally never stagnant, as it evolves alongside technological progress and consumer needs. Thus, for merchants to ensure their business remains successful in the long run, it is crucial to keep up with the latest trends and continuously adapt their operations.
An Investor’s Guide to Fintech: Opportunities & Challenges Explained
Fintechs are actively revolutionizing the traditional financial services landscape by developing innovative solutions in response to evolving consumer and business needs. One of the most prominent examples of the transformations they are driving is the digital payments sphere, which is rapidly embracing AI & ML, blockchain, and the idea of cashless societies.
Visa’s New Investment Project: Promoting Generative AI in Payments & Commerce
Over the past years, we have witnessed the term “generative AI” quickly become a buzzword. Artificial intelligence is now being actively integrated into virtually every sphere of life, with commerce and payments being no exception. From chatbots and fraud detection to personalized marketing and dynamic pricing, businesses are sure to continue opting for AI-based solutions.
A Closer Look at the Pan-European FPAD Initiative Against Instant Payment Fraud
The modern age is marked by payment technology evolution that is happening at an unmatched pace. However, while A2A transfers and instant payments are flourishing, so does the fraudulent activity. This is due to the fact that while the speed of such payment systems makes them convenient for the users, it also often means that the transactions are challenging to detect and reverse.
What Are the Main Forces Shaping the Future of Cross-Border Payments?
Historically, different currencies have played decisive roles in making international trade possible. What’s more, cross-border payments have been undergoing substantial transformations throughout the years, driven by innovations and shifting market demands. Even today, major shifts are still ongoing in response to global events, revolutionary technology, and dynamics in the global economy.
APAC Retail: A Detailed Overview of Modern Challenges & Opportunities
Over the course of the past decade, the retail sector has been facing plenty of challenges, from supply chain bottlenecks to surging inflation. Besides, as living costs rise, consumers become more cost-conscious, demand more value for money, and seek to be rewarded for their loyalty to brands. This situation is true for many locations across the globe, including the Asia-Pacific (APAC).
Australian eCommerce: Key Trends and Considerations for Retailers
The Australian eCommerce sector has been actively growing over the past few years, transforming the country’s retail landscape. In fact, the share of online sales in the local market is estimated to reach an impressive year-on-year growth rate of 16.8% in 2023. While this shift is advantageous in many ways, it also comes with some challenges for domestic brands.
Mobile Payment Systems: Types, Benefits, Challenges & Integration Tips
Smartphones and tablets are the devices that the majority of consumers have at hand at all times. Thus, regardless of whether you sell your products or services online or in-store, integrating mobile payments is vital for offering a smooth shopping experience for your customers.
Boosting Revenues & Consumer Trust in the Financial Services Sector
While countries across the globe are experiencing the effects of a severe economic downturn, financial service providers are facing unprecedented challenges as they try to stay afloat among shifting consumer needs, increased market volatility, evolving fraud, and major budget restrictions.
How Can New Zealand Prepare for a Next-Gen National Payments Scheme?
Countries around the world are actively upgrading their national payment schemes to keep pace with technological progress, evolving consumer expectations, and advancing business needs. For instance, the UK, Singapore, and China are at the forefront of implementing novel fintech solutions, including real-time payments (RTP), mobile transactions, QR codes, machine learning-based tools, and beyond.
RTP Adoption in Europe Is Set to Rise - Is It Beneficial for Merchants?
According to the latest statistics, internet usage among European residents aged 16 to 74 has reached 90%. Notably, 74% of individuals shop online regularly, yet only 14% have experience using instant payments. While these figures reflect an ongoing digitization trend, they also highlight the fact that Europe has yet to unlock the full potential of real-time payments (RTPs).
How Did Alipay and WeChat Pay Unlock New Benefits for Foreign Users?
Starting last week, foreigners were enabled to link their international cards to WeChat Pay and Alipay, China’s two dominant payment apps. This is big news for anyone planning to visit the Middle Kingdom, as it allows tourists to conduct cashless transactions as conveniently and seamlessly as locals do.
Meet Payneteasy Dashboard: The Ultimate Order Management & Analytics App
Dear esteemed clients, We are excited to present Payneteasy Dashboard, our new mobile app designed to facilitate effortless business operations monitoring and convenient order management wherever you are. With this tool, you no longer need a laptop and browser to track orders, payment statuses, and your company’s performance - all these features are available at your fingertips!
What to Expect from the UK’s Plan to Set Up a Digital Securities Sandbox?
At the beginning of July 2023, the UK government opened a consultation on the introduction of a Digital Securities Sandbox (DSS), which marks a significant step toward promoting financial innovation and embracing the potential of digital assets in the local market.
Payneteasy CMS: The Ultimate Payment Scenario Fine-Tuning System
We are excited to introduce Payneteasy CMS, our latest module designed to redefine and further customize payment scenarios for diverse client categories and individual consumers. Find out how this state-of-the-art customer base management system works and why it can be a game-changer for your business!
Is Prioritizing the Merchant Experience in Payment Services Effective?
Online retailers have traditionally relied on enhancing customer experiences to grow their businesses. However, nowadays, the importance of prioritizing the merchant experience is gaining more recognition. After all, while these two aspects go hand-in-hand, it is paramount for business owners to have access to the resources and support they need to ensure successful store operations.
Canada’s Real-Time Rail Launch Is Delayed: What’s Stalling the Project?
Payments Canada, an organization responsible for Canada’s payment clearing and settlement infrastructure, has recently announced yet another delay in the launch of the Real-Time Rail (RTR) system. As the project’s revised launch date awaits confirmation, it is only natural to wonder what is pushing back its release.
What Does Decreasing Cash Use Mean for the Mexican Payments Landscape?
Cashless payments have gained significant momentum, modernizing global finance and changing the way individuals and businesses handle day-to-day transactions. Mexico, a country known for its vibrant economy, flourishing commerce, and rapidly growing tech industry, is one prominent example of how declining cash usage can completely transform the local payments landscape.
A Comprehensive Guide to the EU’s Latest PSD3, PSR & FIDA Proposals
On June 28, 2023, the European Commission released a series of new legislative proposals for some of the most fundamental regulations related to payments and financial services, including the revised Payment Services Directive (PSD3), the Payment Services Regulation (PSR), and the Financial Data Access (FIDA) framework.
How to Upgrade Customer Persona Use to Boost UX in Financial Services?
Modern organizations operating in the financial sphere are experiencing increasing pressure to provide an outstanding user experience while maintaining robust security measures. Finding the perfect ratio between these two elements is especially challenging as the demand for frictionless services grows amid the intensifying regulatory requirements.
How to Stay Afloat as ChatGPT Opens the Floodgates to AI Fintech Fraud
As the world becomes more and more digitized, the vast majority of industries experience dramatic changes, both positive and negative, with the fintech sector being no exception to the rule. One prominent example that has become a hot topic nowadays is the rapid evolution of AI, which not only optimizes business processes but also creates plenty of opportunities for fraudsters to exploit.
The Potential Effects of Australia’s Plan to Eliminate Checks By 2030
As digital transactions continue to gain widespread popularity, some traditional payment methods are being gradually replaced by modern alternatives. To keep pace with this evolving landscape, Australia is embarking on an ambitious journey of phasing out checks by 2030. This strategic move is expected to have profound effects on various aspects of the country’s payments ecosystem.
Evaluating PSD2’s Impact and Potential for Improvement in 2023
The Revised Payment Service Directive (PSD2) was introduced by the Council of the European Union in 2015 to drive innovation and adapt banking services to new technologies. Ever since its launch and especially after its major update in 2019, experts have been closely monitoring the directive’s performance.
Real-Time Payment Fraud & APP Scams Are on the Rise: How to Tackle This Issue?
In the fast-paced world of digital transactions, real-time payment fraud has become a pressing global issue. What’s more, scams and dishonest activity are getting more and more sophisticated each year, impacting even the most cautious individuals and organizations worldwide.
Exploring the Payment Preferences & Trends in LATAM’s Thriving Gaming Market
The gaming industry has experienced explosive growth worldwide, captivating audiences of all ages and backgrounds, with the Latin American region being one of the most prominent examples. In this article, we delve into the peculiarities of this flourishing market and shed light on the payment preferences and habits of its gaming enthusiasts.
Amazon’s Annual Report Overview: 3 Key Drivers of the Company’s Growth in 2022
In today’s rapidly evolving digital landscape, few companies have had a more profound impact than Amazon. While it is mainly known as a global eСommerce giant, Amazon’s influence extends far beyond online shopping, reaching into such sectors as cloud computing, video streaming, and smart home devices.
Will Mastercard’s New Open Banking Initiatives Boost Financial Inclusion in Europe?
While the EU is home to many developed economies, there are still significant disparities in access to financial services across member states. In fact, a considerable portion of the population is facing barriers to such basic financial services as bank accounts, credit, and insurance. Fortunately, the current landscape is set to transform as the concept of open banking gains momentum.
A Comparison Guide to the Fintech Landscapes of Belgium, Spain & Japan
We live in a time when the fintech sphere is evolving at an unprecedented pace, powered by technological progress and growing interoperability between businesses, financial institutions, and digital platforms. In this ever-changing environment, countries like Belgium, Spain, and Japan have emerged as key players, each with its own distinctive fintech landscape and approach to innovation.
The Role of RTP & BNPL Services Amidst the UAE’s eCommerce Boom
The United Arab Emirates (UAE) has experienced a remarkable surge in eCommerce in recent years, driven by factors like technological advancements, changing consumer behavior, and a thriving digital infrastructure. As online shopping continues to dominate the country’s retail landscape, local payment trends are also evolving to keep pace with the industry shifts.
How Can FIs Fulfill Changing Consumer Needs Through Modernization?
In today’s fast-paced and digitally-driven world, consumers’ expectations are evolving at an unprecedented rate across a variety of spheres. Even financial institutions (FIs) face the pressing challenge of matching the shifting needs of their clients to remain competitive in the market as technology continues to advance.
Are Unified Payments Interface (UPI) Transactions Taking Over India’s Retail Space?
In recent years, India has witnessed a revolutionary shift in the way financial transactions are conducted, particularly within the retail sector. This is largely attributed to the advent of the Unified Payments Interface (UPI), which is a convenient and secure real-time payment system used by both consumers and businesses.
The Forces Behind CBDC Adoption: Accelerators & Obstacles Explored
In the realm of global finance, Central Bank Digital Currencies have emerged as a transformative force reshaping our attitude toward fiat currencies and the way we interact with money. As governments and central banks explore the adoption of CBDCs, it becomes crucial to delve into the key factors that are expected to drive and slow down the adoption of this financial solution.
E-Payments in Southeast Asia: A Striving for Consolidation & Interoperability
Nowadays, the digital revolution is actively reshaping the way people conduct financial transactions around the world. Amidst this fascinating transformation, Southeast Asia, a region characterized by its vibrant economies, rapid technological advancements, tech-savvy consumers, and thriving eCommerce market, has emerged as a hub for innovation in the realm of electronic payments.
Navigating LATAM’s eCommerce and Digital Payment Trends in 2023 & Beyond
In recent years, Latin America has seen a remarkable surge in digital payment adoption, transforming the way local businesses and consumers interact with money. From the rise of fintech startups to the emergence of CBDCs, the region is experiencing a wave of innovation, which is paving the way for enhanced eCommerce, greater financial inclusion, and economic growth.
Credit Card Use Among Gen Z & Millennials in Times of Economic Uncertainty
In the current economic climate, the financial stability of many individuals and families has been challenged. This is especially true for younger consumers, who are facing unique financial challenges in the midst of an unstable job market and rising debt.
Will Visa’s New Merchant Fraud Monitoring Program Impact Your Business?
As online transactions continue to grow in popularity, the likelihood of businesses encountering dishonest activity and cyber attacks also rises. To mitigate these risks, Visa, one of the world’s largest payment networks, has various measures in place, one of them being the Fraud Monitoring Program. Visa continuously issues updates on the VFMP to ensure it is well-fit to address current issues.
Potential Changes to the European Instant Credit Transfer Rules Explained
On March 2, 2023, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) published a draft report on proposed changes to the rules governing instant credit transfers in euros. While this development is just the beginning of a long legislative process, it marks a significant step toward a more efficient, resilient, and future-ready real-time payment system in Europe.
Spanish eCommerce Overview: Key Trends, Challenges & Opportunities
With a population of over 46 million people and a highly connected society, Spain boasts one of the largest economies in Europe. In recent years, the country has been experiencing a significant shift towards online shopping, driven by factors such as increased internet penetration, changing consumer preferences, and the COVID-19 pandemic.
Expert Tips on Maximizing Payment Performance in the Travel Industry
The travel industry is a dynamic and rapidly evolving sector, with millions of people worldwide relying on it to connect with others, explore new destinations, and conduct business. Yet, with the rise of digital payment methods, increased competition, and changing consumer behavior, travel companies are under constant pressure to optimize their performance and stay ahead of the curve.
The Digital Euro: Timeline Overview, Current Agenda & Key Updates
As the world continues to become increasingly digitized, governments and financial institutions actively explore alternatives to traditional currencies. One example of such efforts is the digital euro project, which aims to create an electronic version of the European currency that could be used for quick and seamless financial transactions across borders.
Why Are Alternative Payment Methods Essential for Business Growth?
As the world becomes increasingly digitized, traditional payment methods like cash, credit cards, and checks are gradually becoming less popular. As a result, more and more companies turn to alternative payment options, such as digital wallets and BNPL, to keep up with the times and attract a wider customer base.
How Can In-Person Subscriptions Boost Long-Term Business Performance?
In today's digital age, subscriptions have become increasingly popular. From streaming platforms to meal kit deliveries, businesses across the globe have found success in providing recurring services to consumers. However, as more firms shift toward a virtual model, it can be easy to overlook the value of in-person subscriptions.
How to Maximize the Returns Delivered By a Subscription Business?
In recent years, subscription-based business models have become increasingly popular. The idea behind this sales approach is to provide consumers with access to products or services by charging them on a recurring basis, thus ensuring a predictable revenue stream for the company. This makes subscriptions a win-win option for both clients and a wide array of firms across different industries.
New Business Horizons in Asia: Advantages, Challenges & Opportunities
With a diverse range of economies and cultures, the Asian region offers an abundance of possibilities for business growth and innovation, which contributes to it becoming an attractive location for entrepreneurs and established companies alike.
Why Is Payments Data the Key to Understanding Your Customers?
In today's highly competitive business landscape, understanding the consumers is crucial to stay ahead of the curve. One of the most valuable sources of customer insights is payments data. After all, every transaction your clients make contains a wealth of information about their interests, behaviors, and needs.
An Overview of Australia's Transition to the ISO 20022 Standard
The adoption of the ISO 20022 standard for payments and messaging is a monumental shift for financial institutions across the globe. On March 20, 2023, over 11,000 FIs in more than 200 jurisdictions successfully went live with the standard, making it one of the most extensive migrations in history.
Why Is Australia a Promising Location for eCommerce Businesses?
In recent years, Australia has emerged as a promising destination for eCommerce businesses looking to tap into a tech-savvy and digitally-connected consumer base. What’s more, the country's stable political environment, developed infrastructure, and high standard of living make it a great entry point for establishing a foothold in the Asia-Pacific region.
Malaysia & Singapore Unveil a New Cross-Border QR Code Payment Linkage
Singapore and Malaysia have taken a significant step toward enhancing their economic ties by launching cross-border merchant payments via QR codes. This initiative is set to transform the way businesses and consumers engage in transactions across the two neighboring countries and create a variety of new opportunities for local merchants and entrepreneurs.
The Role of Payment Gateways in Supporting Cross-Border Transactions
In today's global economy, businesses need to be able to conduct cross-border transactions seamlessly and efficiently to remain competitive. However, there are numerous challenges that come with processing payments across different countries, including currency conversion, regulatory compliance, and security concerns.
Retail Subscriptions: The US Trend Is Taking Over the EU Market
In recent years, retail subscriptions have emerged as a new trend. Paired with the rapidly evolving capabilities of eCommerce, they offer a convenient and cost-effective way for consumers to access their favorite products without having to make frequent trips to physical stores.
The Future of US Finance: Will There Be a Digital Dollar?
The potential creation of a US central bank digital currency (CBDC), also known as a digital dollar, has been a topic of discussion for a while now. However, recent comments from Nellie Liang, the undersecretary for domestic finance at the Treasury, suggest that this digital currency could soon become a reality.
Ghana’s 1st PAPSS Cross-Border Real-Time Transfer Marks a New Milestone
Recently, GCB Bank, one of the largest banks in Ghana, marked a significant milestone with its first cross-border real-time transfer in connection with the Pan-African Payment and Settlement System (PAPSS). Read ahead to find out more about the importance of this event in the context of PAPSS and gain insights regarding the initiative’s future developments!
The Role of PSPs in the Growth of the A2A Payment Trend
Over the past few years, novel payment methods have emerged and quickly transformed the way we buy goods online and in physical stores. What’s more, the pace of their adoption and expansion across the world has highlighted the public’s tremendous appetite for flexibility and convenience.
Can Optimized B2B Payments Aid Suppliers in Times of Economic Crisis?
As the global economy continues to face uncertainty and instability, businesses are grappling with mounting financial challenges, including rising costs of operations and declining profit margins. In the B2B sector, suppliers are the ones that especially feel the pinch as they struggle to keep up with their day-to-day expenses while navigating the rapidly evolving market landscape.
A Closer Look at the Growth of Real-Time Payments in Brazil & India
Accessing financial services presents similar challenges for individuals across India and Brazil. This is particularly true for situations when those lacking bank accounts are attempting to make domestic or international transfers.
Top Digital Payment App Features for Exceptional Customer Experience
As digital payment services continue to gain popularity, it has become imperative for businesses to ensure that the apps they use to deliver them provide an outstanding customer experience. This is particularly true as today's consumers are increasingly knowledgeable about technology and have high expectations for the software they use, particularly for financial transactions.
What Are One-Click Payments & How Can Your Business Benefit from Them?
Online shopping has become an integral part of our daily lives and a highly competitive niche for businesses to operate in. With the growing demand for eCommerce services, comes the challenge of providing a smooth and hassle-free checkout experience for customers, which is why single-click transactions have become one of the most popular payment methods out there.
Beyond Fraud: How AI Is Transforming the Payments Industry
The payments industry has undergone significant changes over the past years driven by the advent of technology and the increasing demand for faster and more convenient experiences. One of the innovative solutions that have played a crucial role in this transformation is Artificial Intelligence (AI).
The Sweeping Impact of Real-Time Payments in Southeast Asia
Due to their fast development pace and a variety of associated benefits, real-time payments are no longer an optional feature but rather an essential element of long-term success. As a result, they have gained wide recognition in the modern world and are revolutionizing the way transactions are conducted across the globe.
Payment Approval Rates Analysis: Data Importance & Potential Pitfalls
As businesses strive to optimize their operations and maximize their revenue, they face the need to regularly evaluate their payment approval rates. While keeping this metric up is essential for the company’s performance, many companies don’t know how to tackle this task, as it involves a variety of factors and may seem too complex.
Introducing the Most Effective Way to Tackle Failed Payments
For a business owner, only a few things are as daunting as the prospect of failed payments, as they can have far-reaching consequences for the company's bottom line and overall financial stability.
Combatting Advanced Payment Fraud: Practical Tips for Merchants
While the payment industry is evolving at an increasingly fast pace, one thing remains ever-present - fraudulent activity. What's more, the tactics implemented by dishonest players keep becoming more and more intricate, prompting businesses to search for solutions that could tackle these higher-grade challenges.
How a P2P App Can Be a Game-Changer for Your Fintech Business
Peer-to-peer (P2P) technology has been disrupting the payment industry over the past years by enabling consumers to transfer money directly to one another without the participation of traditional financial institutions.
South African Reserve Bank’s New Rapid Payments Program Explained
The South African Reserve Bank (SARB) is currently in the process of testing its new Rapid Payments Program (RPP), which is expected to bring about a revolution in the way people make financial transactions across the country, once it’s launched later this year.
What Are the Latest Updates on the Digital Euro Project?
The European Central Bank (ECB) began investigating the potential of introducing the digital euro over a year ago. Since then, the work on this project has been actively progressing, with the ECB holding multiple discussions about its key design options with the Committee on Economic and Monetary Affairs of the European Parliament over the course of 2022.
The UK’s Payment Landscape: How Has It Changed Over the Past Decade?
The United Kingdom’s payment ecosystem has undergone significant changes over the past decade, driven by advancements in technology, a shifting regulatory landscape, and a growing demand for security, speed, and convenience among consumers.
New Payments Architecture & ISO 20022: Everything You Need to Know
The UK’s Faster Payments system has been effectively enabling instant money transfers between participating banks since 2008. However, despite the prominent role this scheme has played throughout the years, it is gradually becoming outdated and requires an upgrade to keep up with the rapidly evolving payments landscape.
Which Factors Will Be Shaping Europe’s Payment Industry in 2023?
The past few years have been marked by rapid changes within Europe’s payment ecosystem. These developments have prompted businesses, FIs, and PSPs to significantly adjust their operations and keep up with the trends. As we enter 2023, it’s already clear as day that the pace of the European payment industry’s evolution is nowhere near slowing down.
Why Should Merchants Set Their Course for Real-Time Payments in 2023?
We live in a time of dramatically escalating inflation, severe supply and cash flow issues, and a rapidly increasing cost of living. All these factors slow down retail growth, intensify competition, enhance friendly fraud risks, raise payment fees, and shrink margins - in other words, they force businesses to invest more resources to win each sale.
The Comprehensive Guide to India’s e-Rupee Initiative
As you might know, India is making a big step toward a digital future with the launch of the e-Rupee, a digital version of its national currency. The work on this project of major importance is actively ongoing, with two pilots already having aired in the wholesale and retail sectors in November and December 2022, respectively.
Biometric Payments: Tackling Consumer Trust & Certification Challenges
Biometric authentication lets users verify their identity when making payments in a secure, fast, and convenient way, which has led to the growing adoption of this technology. As a result, over 65% of consumers claim to be familiar with it. Yet, according to recent surveys, 69% of users are concerned about data breaches when using biometrics while 62% fear their privacy could be violated.
Buy Now, Pay Later 2022 Trends Recap and Future Forecast
Buy now, pay later (BNPL) services have experienced a massive surge in popularity at the beginning of the pandemic and their prominence has kept growing ever since. The year 2022 was no exception, as consumers continued opting for payment methods that promote flexibility and merchants became even more open to collaborating with BNPL companies.
Impactful Trends in Commerce & Payments: 2022 Summary & 2023 Forecast
Commerce and payments are two interconnected spheres that are never stagnant. In 2022, both of these sectors have undergone some significant changes, understanding the nature of which can provide valuable insights into their future development trajectory.
The Future of Payments in Africa: Predictions for 2023 & Beyond
African countries have been drawing an increasing amount of attention from FinTechs and PSPs over the past few years. This is mainly due to the fact that the continent’s payments industry has been undergoing a powerful transformation driven by continuous innovation and regulatory shifts. Due to such promising tendencies, we are sure to see this region gain even more momentum in the future.
Nigeria Will Launch Africa’s 1st Domestic Card Scheme - What to Expect?
The Central Bank of Nigeria (CBN) has announced that it will be launching Africa’s first national domestic card scheme by January 16, 2023. This important step is expected to bring multiple transformative benefits for the country’s residents, including enhanced financial inclusion and increased affordability of payment services.
1st SEPA Payment Account Access (SPAA) Rulebook: A Detailed Overview
On 30 November 2022, the European Payments Council (EPC) published the first SEPA Payment Account Access (SPAA) scheme rulebook. This set of guidelines and standards stretches beyond the PSD2 scope to new premium concepts and creates a foundation for businesses to adopt a wider array of open banking-powered payments.
Real-Time Payments: A Look Back at 2022 & 2023 Preview
The relevance of real-time payments (RTP) nowadays cannot be overstated, as they help to minimize financial anxiety by ensuring near-instant, simple, and secure transactions. This leads to RTPs becoming table stakes worldwide, driven by significant demand from both consumers and businesses.
Key Digital Payment Trends Retailers Should Watch in 2023
The digital payments landscape is transforming rapidly, so it’s essential for retail businesses to keep up with the changes to remain competitive. This entails not only monitoring emerging trends but also taking time to analyze past strategies. And what better time to do it than the end of the year?
The UK’s Payments Industry 2030 Agenda: Challenges & Opportunities
The UK’s payment ecosystem has a solid reputation as one of the forefronts of innovation and best practices. Moving forward, this sector is expected to live up to its high standards and realize even more of its enormous potential.
Can Lenders Benefit from Analyzing Alternative Credit Data?
Until just a few years ago, lenders would only take “traditional” credit data into account when assessing people’s solvency and making loan decisions. However, this approach is far from perfect, as it doesn’t take a large share of the population into account. As a result, millions of individuals overlooked by the old scoring system remain virtually invisible to finance companies.
Key Holiday Season Considerations for Payment Industry Businesses
The holiday season is finally here! As people actively shop for gifts for their loved ones, stores, businesses, and PSPs are busier than ever. So, while the celebrations are certainly an exciting time of year, they also come with pressure to provide the best experiences to consumers, from creating the best offers to ensuring the checkout goes smoothly.
Eco-Friendly Payment Cards: Beating Competition and Climate Change
According to the latest studies, 85% of consumers have shifted toward choosing greener products over the past five years. This positive trend has seen a reflection across many industries, with the sphere of payments being no exception. As a result, multiple banks have started offering eco-friendly cards, and this innovative solution is gradually taking over the world.
Connected Cars: How Are They Helping Drive the Payment Revolution?
Modern vehicles continue advancing at an impressive pace and are becoming increasingly more connected. Just a few decades ago, it was unimaginable that a car would be not only a convenient means of transportation but also a wallet on wheels, featuring embedded payments and enabling consumers to buy services on the go.
What Impact Will UK's PSD2 Open Banking Have Worldwide?
Open banking continues forging ahead globally, and more and more consumers and businesses start noticing its powerful impact. While the open banking concept has been around since 1983, it is the Second Payment Services Directive (PSD2), introduced in 2018, that has defined it the way we know it today.
Authorization Vs. Capture: Here’s What Merchants Need to Know
From a consumer’s perspective, card payments are quick and simple transactions that only take seconds to complete. However, there are many processes that take place behind the scenes after a purchase is initiated. Understanding these ins and outs of a payment’s lifecycle is extremely important for merchants to deliver impeccable service and retain customers.
The Role of Regulation in the Evolution of A2A Payments
The advancement of open banking and Application Programming Interfaces (APIs) has catalyzed the appearance of multiple new access and connectivity opportunities. This innovation course, in turn, has played a critical role in strengthening the links between FinTechs, banks, and payment platforms and streamlined the rise of account-to-account (A2A) payments.
How Will the EU Commission’s New Regulation Change Instant Payments?
On October 26, 2022, the European Commission published the proposal for a Regulation on Instant Payments (IPs), thus fulfilling its commitment to the 2020 EU Retail Payments Strategy. This initiative suggests important changes to the 2012 SEPA Regulation and has the potential to redefine the way IPs in euros operate.
How Did Southeast Asia Outpace the West in Digital Economy Growth?
As economies across the globe go digital, Southeast Asia (SEA) is surpassing the US, China, and Europe and taking the lead. Over the past few years, SEA’s digital economy has achieved astounding success and reached $143 billion in 2021. What’s more, this number is forecast to increase by more than 17% and hit $314 billion by 20261.
What Does India's Digital Transformation Mean for Online Businesses?
The past two decades in India’s history are known as the national economic renaissance, made possible by the continuous technology-centric innovations driven by local visionary policymakers, ambitious businesses, and open-minded individuals. Due to the progress made throughout these years, the country’s GDP per capita has soared and its digital economy is booming.
Is There Such Thing As Too Many Payment Choices Offered by Retailers?
Online payment methods play a critical role in a customer journey, so the efforts to diversify their selection at checkout have earned one of the top spots on every merchant’s list of priorities. As a result, many business owners try to offer as many payment options as possible. Yet, as new payment methods continue emerging, the amount of choices can become overwhelming for consumers.
Digital ID Wallets: Differences in Adoption Between the EU & the US
The idea of integrating secure and trusted digital ID wallets on a national level has been present in the European Union and the US for many years. Thus, as global digitization continues, both of these geographical areas develop their take on the adoption of this initiative.
How Will Buy Now, Pay Later Service Providers Navigate the Recession?
Buy Now, Pay Later companies have experienced several golden years during the COVID-19 pandemic, marked by the rapidly increasing popularity of their services. However, the future of the BNPL market is currently a hot topic, as the soaring inflation and the potential recession make consumers more apprehensive when it comes to buying expensive items best suited for extended payments.
What Were the Main Real-Time Payment Trends in 2022?
Real-time payments (RTP) are one of the fastest-growing spheres in the global payments landscape today. In just one year since 2021, its market size value has increased by approximately $3 billion, and the upward trend is sure to continue.
What Is Card-on-File and Why Do Businesses Need It?
Merchants nowadays are continuously searching for ways to streamline the payment process to cater to customers who appreciate shopping with speed and convenience. While it can be achieved in multiple ways, card-on-file (CoF) transactions remain one of the most effective tools to optimize checkout and boost sales.
PaaS: How Cloud Tech Is Transforming the Future of Online Payments
The payment industry is experiencing a period of rapid transformation nowadays. This is partially due to the emergence of a multitude of players in the payments-as-a-service (PaaS) sphere. These providers enable FIs and other entities to outsource payment products and services and offer them to their clients without facing high upfront costs.
Local Payment Methods: The Cornerstone of Cross-Border Success
Businesses that aim to operate internationally often tend to be so involved in setting up globally accepted payment methods that they overlook the local ones. However, it is crucial not to skip this step, as successful market entry is unimaginable without it.
What Is Visa Compelling Evidence 3.0 & How to Prepare for It?
Friendly fraud is a compounding issue that is all too familiar to merchants. It occurs when a consumer makes an online purchase with their payment card and then disputes the charge. Sadly, over the past few years, the number of such fraudulent instances leading to chargebacks has grown significantly along with the rise of eCommerce.
Main Payment Trends You Are Sure to See in 2023
As the world is gradually recovering from the effects of the COVID-19 outbreak, consumers can now make purchases in person without putting their health at risk. However, while shoppers have returned to brick-and-mortar stores, they haven’t given up on digital payments that experienced rapid growth during the pandemic.
The Complete Apple Pay Overview
Digital wallets and contactless payments have seen a surge in popularity during the COVID-19 pandemic, with Apple Pay being one of the tech solutions prospering at the time. The plethora of benefits this payment method offers and Apple’s course on innovation make it clear that this upward trend will continue.
Payneteasy Joins the Ranks of Google Pay’s Certified Participating Processors
We're extremely proud to announce that Payneteasy has officially become a part of the community of gateways and payment processors supporting the Google Pay API.
EU’s DSA and DMA Receive Final Approval - What’s Next?
The Digital Services Act (DSA) and the Digital Markets Act (DMA) are legislative proposals of the European Commission that aim to build a safer online space by protecting users’ fundamental rights and establishing a fair playing field for businesses.
Visa Enables Installments: What Does It Mean for Businesses?
Buy now, pay later services are installment-based payment schemes that have experienced a surge in popularity over the past few years and have become a prominent part of modern eCommerce. In fact, BNPL hit $1.6 trillion in global market value in 2020, showing a 5% year-over-year increase and outpacing credit card expenditure which declined by 4% during the same period.
How to Integrate Google Pay & Why You Should Do It
Introducing various payment methods into your business operations is essential for matching your customers’ preferences and staying ahead of the competition. However, not every payment option will suffice - statistically, there’s a chance of losing up to 80% of your clients due to the presence of a payment service that is inconvenient or untrustworthy.
The G20 Roadmap: a Crucial Step for Cross-Border Payments
In the aftermath of the COVID-19 pandemic, the so-called “decade of action” is unfolding as regions across the globe experience severe economic contraction and go through the recovery process. This is reflected in many ways, including the adjustments in achieving the international sustainable development goals (SDGs) - the strategy countries should follow for a better future for the planet.
Payneteasy 3DS Adapter: Your Ally in Preventing Friction at Checkout
Achieving the balance between advanced payment security and a smooth shopping experience is an omnipresent challenge for online merchants. This dilemma is especially prominent nowadays, as sellers face regulations that require multiple authentication steps and make order placement less vulnerable to fraud yet more time-consuming and complex.
A Closer Look at the Potential of the Request-to-Pay Scheme
Request-to-Pay is an emerging messaging framework that is becoming increasingly popular as a value-added service for real-time payments. As the name suggests, this solution enables payees to request payments digitally from consumers, which the latter can choose to either accept or reject.
Payments in B2B Marketplaces: Challenges, Solutions & Trends
Marketplaces are expected to account for 30% of global online business-to-business sales by 2024, taking a leap from $680 billion in 2018 to an estimated $3.6 trillion. This phenomenal growth requires adjustments from B2B eCommerce platforms in a variety of aspects, including the way they accept payments.
3 Ways to Offer Your Clients Express Checkouts
Every online merchant is familiar with losing a sales opportunity when the consumer was already about to pay for their order. While there are multiple reasons why this could happen, a long or complicated checkout process is one of the major decisive factors, accounting for 26% of shopping cart abandonment cases.
The Digital Operational Resilience Act (DORA) Explained
DORA, the Digital Operational Resilience Act, is a regulation with a goal to ensure that all participants in the financial system have the necessary resources to mitigate cyber attacks and recover from disruptions associated with fraudulent activity. While this piece of legislation is still in the making, it’s expected to get the final approval already by the end of 2022.
SEPA Vs. SEPA Instant: What Is Better for Your Business?
If you conduct business on the European continent, you have definitely dealt with SEPA transactions. This money transfer service once revolutionized the payments landscape across a number of Euro and non-Euro countries by creating a unified network in place of a fragmented ecosystem.
How Can Merchants Adapt to New BNPL Laws in the UK & Beyond?
Buy Now, Pay Later (BNPL) is one of the biggest eCommerce trends that has gained impressive prominence over the past few years. While being an accessible way for consumers to acquire products that otherwise would have been difficult to afford, it has also raised concerns regarding the inability of some people to cover the loans they take out.
A2A Payments Overview: Market Position & Latest Advancements
Account-to-account (A2A) transactions are swiftly overtaking cash and bank cards and are predicted to comprise 20% of global eCommerce payments by 2023. Seizing the A2A momentum requires an understanding of the latest developments related to this payment method and its perspectives in the international market.
How to Unlock More Value in the Changing Retail Landscape?
The major shifts in the retail landscape, payment habits, and consumer behavior that arose during the pandemic are expected to continue solidifying their presence in 2022 and onwards. For merchants, this calls for agility to stay on top of emerging trends and insightfulness to understand how to make the most out of them.
Modern Ways of Implementing QR Codes in Business & Commerce
Over 4% of all online purchases in the world are conducted via QR codes, and we are sure to see this figure grow in the upcoming years. Already by 2025, 29% percent of mobile users across countries are forecasted to be using this payment type, with the global transaction volume expected to reach $2.7 trillion.
The Power of Social Shopping: How Can Vendors Leverage It?
Nowadays, nearly every social network offers its users an opportunity to make in-app purchases. This type of shopping is gaining popularity fast - 98% of consumers are planning to place at least one order using social media in 2022, a giant leap compared to 68% from the year before.
What to Expect from the Payments Landscape in 2025 & Beyond?
We live in an age when technology evolves at an unprecedented pace, accompanied by impactful global events and dramatically shifting consumer preferences. Such dynamics make merchants, financial institutions, PSPs, and industry experts ponder what the payments landscape will look like in the years to come.
Real-Time Payments in the Americas: Potential & Challenges
The modern pace of life dictates the need for instant cross-border money transfers. Real-time payments (RTP) play a pivotal role in catering to this demand, as they are settled in a matter of seconds from the moment of initiation.
What Are SMS Payments and How Can They Boost Sales?
The popularity of m-commerce sales is growing at a phenomenal speed. In the US alone, retail mobile sales hit $359.32 billion in 2021, demonstrating a 15.2% increase from the year before, and are expected to more than double by 2025, reaching $728.28 billion.
The Complete Guide to Online Payment Methods: Types, Benefits & Optimization Tips
Nowadays, it’s difficult to imagine a successful and rapidly growing business that doesn’t accept payments online. What’s more, simply enabling customers to make purchases via the Internet is not enough to ensure a smooth shopping experience. Modern customers expect fast checkout, a variety of payment methods, frictionless transactions, and so on.
Voice Payments: A Fleeting Trend or the Future of eCommerce?
Voice technology is transforming our lives in many ways, assisting us in spheres like cybersecurity, customer service, healthcare, and beyond. The finance sector has also adopted voice-based solutions, enabling consumers to make money transfers, conduct purchases, and pay their bills.
Everything You Need to Know About Payments in the Metaverse
Mark Zuckerberg called the metaverse “the next chapter of the internet,” while Satya Nadella said, “it's not only transforming how we see the world but how we participate in it.” Indeed, the metaverse is already far more than some distant concept, but rather a whole new world in the making.
How Will Apple Pay Later Influence the Future of BNPL?
The pandemic has marked the beginning of BNPL’s heyday - the value of global purchases using this payment method hit $120 billion in 2021, four times the amount spent in 2019. Even in post-COVID times, Buy Now, Pay Later continues its growth in popularity across the world, with its market value estimated to reach $576 billion by 2026.
3 Main Mistakes Businesses Make with Touch-Free Transactions
The convenience of contactless payments is winning the hearts of more and more consumers worldwide. The global market value of such transactions is projected to nearly quadruple by 2026, reaching $51.07 billion, which makes it clear: this trend is here to stay.
How to Boost Checkout Conversions in 5 Simple Steps
The checkout process is one of the fundamental parts of the customer journey that can play a decisive role in a person’s shopping experience. Despite the rapidly changing consumer behavior, for many online merchants there is one long-pending issue that remains stagnant - card abandonment.
Tapping Into the Potential of Africa’s Payment Industry
While Africa’s emerging market offers plenty of growth opportunities for various types of businesses, organizations that deal with digital transactions are the ones that will explore the local potential to the fullest. But what exactly can the merchants and PSPs entering the continent’s payments ecosystem expect?
The Latest Gen Z Payment Trends and What Drives Them
Gen Z, the "digitally native" cohort, currently makes up approximately 24% of the global population and has significant spending power. According to a 2021 Bloomberg report, students and young professionals belonging to this generation already command a disposable income of $360 billion and counting.
Asia-Pacific Region: Driving Change in Global Payments
The world’s retail eCommerce sales are expected to rise from $4.2 trillion in 2020 to $7.3 trillion by 2025. One of the main contributors to such rapid growth is the Asia-Pacific (APAC) region, with its focus on innovation in the payments technology field.
How Can Merchants Make the Most Out of Payments Data Analytics?
It is not an overstatement to say that data drives commerce. Merchants worldwide collect information to analyze it and make business decisions based on the gained insights.
When Will the World Be Ready to Go Cash-Free?
The use of coins and banknotes has been declining worldwide over the past years. In 2021, cash payments accounted for only 18% of the global transaction value, and their share is expected to drop even more - down to 10% already by the end of 2025.
A Merchant’s Guide to Tap to Pay: from Fundamentals to Future Insights
In 2021, over two-thirds of merchants were already accepting contactless payments, and their number continues to grow fast due to the increasing demand. The technology behind this trending transaction type is called “Tap to Pay”.
Biometric Payment Cards: Will They Become a Worldwide Trend?
Fingerprint-based cards were first introduced decades ago but failed to gain traction because they seemed overcomplicated at the time. However, following the pandemic, they are having a grand comeback in a number of markets.
The Complete Guide to Online Payment Fraud Prevention
Online payment fraud is one of the greatest concerns for merchants worldwide regardless of the business scale. According to estimates, the global eCommerce losses from it accounted for $20 billion in 2021, which represents a 14% increase from $17.5 billion recorded in the previous year.
The Complete Guide to Accepting Payments in Latin America
The internet penetration rate and the number of mobile users in Latin America (LATAM) have been growing consistently throughout the past years. What’s more, the share of the unbanked population in the region is steadily decreasing, so if your online business still hasn’t entered this market, it might be the perfect time to do it.
The Future of the Payment Industry in the Middle East
While the Middle East boasts one of the highest rates of smartphone penetration worldwide (97%) and is digitally astute in general, the majority of its population still chooses cash over other payment methods. Notably, only a third of retail transactions in this area are conducted electronically.
Anti-Money Laundering: What It Is & Why It Matters
Money laundering is a financial crime that involves concealing the origins of unlawfully obtained proceeds for them to appear as if they derived from a legitimate source. Worldwide, there are between $800 billion and $2 trillion laundered each year, accounting for 2-5% of the global GDP.
P27 Explained: Current State, Perspectives, and Impact on Businesses
They say there is safety in numbers, meaning that uniting multiple parties is often more efficient than each of them taking action on one’s own. This principle proves to be right for a variety of niches, including the payment industry.
From PSD2 to PSD3: What Will Change With the Directive’s Revision?
On May 10, 2022, the European Commission published three consultations that will help shape the regulatory future of payment services and PSPs across the EU and EEA. This marks the beginning of the shift from the Revised Payment Services Directive, PSD2, to its updated version that will tackle the current needs and challenges of the payment industry better.
Why QR Code Transactions Are the Future of Payments
Apple embedded QR code scanners in the iOS 11 Beta’s native camera app in 2017, and the majority of other brands followed suit shortly after that. This innovative feature was said to be “QR codes’ second chance”, giving this technology hope to avoid repeating CurrentC mobile payment app’s downfall.
AI-Based Solutions Driving Payment Optimization in 2022
Nowadays, merchants and financial institutions alike face the need to address bigger audiences, process larger payment volumes, and scale efficiently. Thus, software that tackles FinTech-related challenges is in high demand.
Why Do Global Retailers Need Payment Orchestration?
eCommerce sales boomed in the past few years, with the online share of total spending globally increasing from 10.3% in 2019 to 14.9% at the peak of the pandemic in 2020. Such rapid growth of online sales has transformed the landscape for retailers and raised the need to implement optimized payment solutions.
5 Major Payment Challenges of PSPs and Financial Institutions
Organizations providing financial services exist in an ever-evolving and highly competitive environment. Aside from that, they also face a wide array of challenges created by factors like the changing consumer demand, national and global regulations, tech innovation, and beyond.
Key Differences of a Payment Facilitator, Gateway & Merchant Account
There’s a whole lot of terminology to keep in mind when it comes to payment processing. While for the consumers, a credit card transaction typically takes no longer than a few seconds, the algorithm behind it is quite complex.
How to Save Customer Card Details for Future Use
Online purchases are considered to be way more efficient than the transactions conducted offline due to increased security, lower risk of human errors, and faster processing times. Besides, the clients returning to shop at the same eCommerce store are likely to have an even smoother shopping process. This is due to the fact that their information is already stored on the merchant’s website.
Payment Industry Evolution: 40+ Years of Innovation
Payment processing as we know it today hasn't existed in this form for long. What's more, it continues to develop rapidly; hence we can expect many exciting innovations and changes ahead.
What Are Interchange Fees and How Are They Calculated?
As a merchant, you probably know that you pay interchange fees after every credit and debit card transaction. While these charges typically come as a part of your business’s card processing fees, it’s still critical to understand what exactly they are to ensure you’re dealing with fair pricing. Read ahead to find out the definition of interchange fees and learn how they are calculated.
Main Reasons Behind the Shifting Approach to Direct Selling
The payment industry is changing at an unprecedented pace. It’s easy to see the ongoing transformations in eCommerce, data security, preferred payment methods, and beyond. One of the spheres that have to adapt to the new circumstances fast is direct selling.
End-to-End Data and Privacy Protection in 2022 and Onwards
The protection of consumer data and privacy is considered to be one of the top three trends with the greatest impact on businesses in 2022. However, the focus on these critical aspects is sure to last beyond the end of this year.
B2B Payments’ Digitization: What to Expect in 2022 & Beyond
Historically, B2C payments have always been digitized sooner than B2B transactions. Now that the world is recovering from the pandemic, this gap is becoming even more prominent. Due to this, 2022 is marked by a transformation in B2B payments characterized by a strengthening focus on meeting the expectations of suppliers and merchants.
How Businesses Respond to Shifting Customer Expectations
We live in an age of rapid technological progress and drastic changes in sales and consumer behavior. To remain competitive and thrive in such a fluctuating environment, businesses have to be flexible and agile.
Digital Platforms: in the Spotlight of Modern eCommerce
The platform economy has caused a revolution in the world of commerce and has become its backbone across a variety of industries. Read this guide to find out how digital platforms have achieved such prominence in the global market and which technological solutions can make them reach even greater heights.
PSD2 Regulations for Online Marketplaces and Platforms
Online marketplaces and sales platforms have shifted commerce, shortening the distance between merchants and shoppers to just a few clicks. Thus, it is no coincidence that this business model is continuously growing and infiltrating an increasing number of niches.
Evolution of Online Marketplaces: Influences and Challenges
eCommerce is transforming at an unprecedented pace. With digital innovation being on the rise, the marketplace business model as we once knew it is no longer the same.
Storing Cardholder Data Outside the PCI DSS Scope
The Payment Card Industry’s Data Security Standard (PCI DSS) states that entities should refrain from storing cardholder data unless there is a legitimate reason to do so. However, with the technological solutions that are currently available, it turns out that the merchants and PSPs hardly ever have an indisputable reason to keep such sensitive details.
What Is Chargeback Fraud and How to Prevent It?
The rise of eCommerce has launched a new prosperous era for merchants worldwide. However, online sales are imminently followed by increased risks of fraud. What’s more, dishonest activity can be expected not only from fraudsters but also from consumers.
Payment Gateway Market Outlook: Trends for the Near Future
The rapidly increasing interest in online shopping and the need for secure digital payments that comes with it make a variety of businesses search for smart FinTech solutions. Thus, the integration of a payment gateway has already become a key aspect of every business conducting sales online.
Payneteasy Heads to ICE London 2022: What to Expect?
On April 12-14, the largest global event for gaming operators in Europe, ICE London 2022, will take place at ExCeL London. This gathering is widely recognized as the ultimate meeting spot for gaming industry leaders, decision-makers, experts, and policy regulators.
Trends and Developments of European Cross-Border eCommerce
Electronic commerce is experiencing rapid expansion globally and on the European continent in particular. In 2019-2020 alone, its European share has grown by 10%, hitting the mark of €757 billion. What's more, the revenue in the European eCommerce market is projected to reach €685 billion in 2022 and €974 billion by 2025.
Buy Now, Pay Later: Benefits, Drawbacks, and Integration Tips
Buy Now, Pay Later is a relatively new payment method that has taken the eCommerce industry by storm. Keep reading to find out why it has become so popular, what advantages and challenges it has, and how merchants can maximize its potential benefits.
Seller Fraud at Online Marketplaces: How to Combat It?
Ecommerce business expansion on online marketplaces inevitably goes hand in hand with the increasing risk of facing fraud. This is majorly due to the fact that modern marketplaces with embedded payments often act as payment facilitators for the merchants. Despite the fact that this practice allows transaction processing to be more intuitive and easily scalable, it also makes it more prone to malicious attacks.
How to Build a Resilient Merchant Payment Infrastructure
In the ever-changing global environment, it’s incredibly important to build and maintain a merchant payment infrastructure that can withstand anything that comes its way. The overview you’re about to read focuses on the best practices of increasing payments resilience applicable to both merchants operating exclusively online and those pursuing an omnichannel strategy.
Competitiveness of Banks & FIs: Trends, Issues, Perspectives
Companies in the financial sector are going through major adjustments in the environment that experienced a drastic shift throughout the global pandemic. Apart from keeping up with the massive adoption of payment technologies, businesses had to update their strategies while remaining compliant with the new regulations.
PSD2 Review: Insights from the EBA Discussion Paper
The Second Payment Services Directive (PSD2) is the current set of guidelines that regulates payment services across the European Union and the European Economic Area. This directive is being regularly updated to suit the evolving technology and confront the emerging fraud methods. It is also continuously monitored to ensure its effectiveness.
Hosted Payment Page: the Simple and Secure Checkout Tool
Every business strives to ensure a seamless payment process for its customers. While this puzzle has many pieces, one of its critical elements is a smooth online checkout procedure. It can be achieved in different ways, yet one of the best options is to implement a hosted payment page.
Secure Payment Page: What It Is and How to Create It
A fast and frictionless checkout process is essential for a positive customer experience. However, what is equally as important is how secure the transaction is.
SPAA: Learn More About the Emerging SEPA Payment Scheme
Schemes define payment processing on an international level, so it’s essential to stay in sync with all the emerging updates. There are currently a few initiatives for new payment schemes, one of them being the SEPA Payment Account Access (SPAA). Find out everything you need to know about it in this detailed guide.
Cross-Border Payments Interoperability: ISO 20022 and Beyond
As soon as SWIFT announced the rollout of ISO 20022, it became clear that it would be a revolutionary step for cross-border payments. Here we will discuss how this standard will influence the current state of affairs of international money transfers and explore whether it is enough to solve the interoperability problem the industry is facing.
The Future of Payments: Instant Global Transactions
In general, it takes from one to five days for a cross-border money transfer to get to the recipient. With the modern pace of life, this is way too long of a waiting time for both individuals and businesses.
Maestro Is Retiring - Debit Mastercard Takes Over
Here’s the news: starting from 1 July 2023, banks and credit unions will discontinue issuing Maestro cards for good. With over 400 million cards currently in circulation worldwide, this decision is sure to require significant adjustments.
How Can EU Regulations Respond to the Changes in the Payment Industry?
With the payments market evolving rapidly, the existing rules and regulations require adjustment. In this article, we’ll uncover which changes are likely to take place in the industry and how the EU could respond to them.
What Is an Integrated Payment System and Why Your Business Needs It
Providing a brilliant customer experience is among the top goals of businesses worldwide. Achieving it brings plenty of benefits, from increased brand awareness to boosted revenues.
How to Stay Ahead of Emerging Forms of Payment Fraud in 2022
Payment fraud keeps the world in a constant state of alert. The numbers speak for themselves - Q3 of 2021 has seen over 56,000 payment fraud attacks globally. That is 14% more than in the previous quarter and equals to a 274% year-over-year increase.
Chargebacks 101: What They Are and How to Prevent Them
As a person involved in business, you’ve probably heard of chargebacks. These operations are rather common yet extremely disadvantageous for merchants.
Payment Trends That Are Expected to Shape 2022
We live in an eventful time that requires flexibility and innovation. In the past few years, we’ve seen many spheres of our lives undergo significant changes, from healthcare and education to retail and logistics. The payment industry is a link between all these key areas, so it keeps adjusting alongside them.
Payment Trends 2021: Expectations Vs. Reality
The pandemic that started back in late 2019 and is still going strong years from then led to changes in shopping dynamics. Lockdowns and social distancing measures imposed significant challenges to brick-and-mortar stores and forced retail businesses to adapt to the constantly fluctuating situation.
Subscription Payment — A Magic Key to More Sales
The subscription payment model is adapted by more companies these days. What’s the secret behind this uproar? Let’s investigate
Contactless Payments are the Future & Here’s Why
In light of pandemic issues, consumers choose to avoid cash. Now, payment preferences lean toward phones, facial recognition and… cars.
Global Means Local: How Local Payment Methods Can Grow Your Business
Businesses are no longer limited by geography. Entering the global market has never been easier, all thanks to eCommerce.
In-app Payment Solutions — A Key to Conquer Mobile Commerce
In-app payments are a crucial step in setting up your business. They provide a smooth customer service, quick checkout flow and help to increase the venue’s revenue.
Payment Gateway from A to Z: What It Is, How it Works, and More
Every business owner aims to provide a top-notch shopping experience for the clients. While excellent customer support and the quality of products and services delivered are extremely important, no commercial platform would be successful without decent payment security measures. One of the essential tools to conduct and safeguard the purchases at your store is a payment gateway.
Payneteasy Takes Part in SiGMA World Gaming Festival in Malta, November 2021
One of the world’s largest iGaming exhibitions, SiGMA Europe, will be taking place in Malta from the 15th to the 19th of November 2021.
How to Accept Credit Card Payments: a Step-by-Step Guide
Nowadays, the majority of consumers expect all merchants to accept credit and debit cards. So, if your company still doesn’t live up to that standard, it is highly recommendable that you introduce card processing as soon as possible.
Why Your Business Should Offer Alternative Payment Methods
Not so long ago, accepting cash and credit card payments was enough to keep the business going. However, these days, organizations offering their customers only traditional payment options risk being outplayed by their competitors. Think about it: in 2021, approximately 7% of people abandoned their shopping carts because the merchant didn’t offer enough payment methods.
How to Store Credit Card Information Safely
Processing card payments is a great responsibility for businesses, especially when it comes to the transmission and storage of confidential information. Even with the modern security measures, in the first half of 2021 alone, there were 1,767 publicly reported breaches that exposed 18.8 billion records.
Electronic Checks for Businesses: Definition, Benefits, and Implementation
The 2021 Q2 volume of eCheck payments reached a 7.3 billion count with a value of $18.4 trillion. That’s an increase of about 25% compared to last year. Such rapid growth makes more and more company owners consider offering this payment method to their clients. But what exactly is an eCheck, and how does it work? Read ahead to find out how such payments function and whether your business can benefit from them.
Mobile Payment Systems Overview: Types, Benefits, and Integration
Smartphones and tablets are the mobile devices that the majority of consumers have at hand at all times, making them even more convenient to use for payment than a credit card or cash. Thus, no matter if you sell your goods or services online or in-store, integrating a way to pay via mobile in addition to traditional credit card processing methods is vital for offering a smooth shopping experience for your clients.
Advanced Data Security: Tokenization Explained
Online payments have become an integral part of everyday life. However, as e-commerce develops, so does cybercrime. To prevent fraud and protect user data, online payment services are implementing various security protocols.
Your Guide to Credit Сard Processing for Nonprofits
For a nonprofit, every donation counts. That’s why it is crucial to provide the public with the most convenient ways of making contributions. Thus, if your organization is still not accepting credit card payments, it is about time to fix it. This comprehensive guide has all the information you need to get started with credit card processing for nonprofits, including an overview of its benefits and useful tools for implementing it.
Multichannel Vs. Omnichannel Retail
Every retail business strategy aims to build customer loyalty and ensure an excellent shopping experience. To succeed at this, it is important to track the consumer journey and have a competent strategy that covers every point of interaction with the customers.
What Is Omnichannel Retail and Why It Works Miracles
The sales process constantly evolves to improve communication, customer satisfaction, and commerce profitability. Before, one sales channel, such as a physical store, was enough. Later on, technology advanced, and merchants started interacting with the customers via multiple channels, so email marketing, websites, chatbots, etc., added up.
What to Know About Payment Risks and Compliance in 2021
Payments are traditionally considered to be a high-risk sphere. This is due to the complexity of the procedures and tools used, the rapid development of new technologies, and the threat of fraudulent transactions. These risks are dangerous not only for the service providers and their users but also for the economy as a whole. That’s why the payment risks must be identified, monitored, evaluated, and managed. Read ahead for an up-to-date overview of the payment risks and compliance!
About International Payment Systems
Every individual and business entity these days has dealt with at least one international payment system (IPS). Yet, even though it is something used daily by millions of people, not many can explain what exactly this term entails.
Your Ultimate Guide to Recurring Payments
As a consumer, nearly every person has encountered recurring payments in action. But, as a business owner, have you considered introducing this billing type into your company’s practice? If you are still undecided, this guide is for you. Here we will tackle all the main aspects of this tech solution and explain how to integrate it into your business.
Everything You Need to Know About Cross Border Payments
In the era of economic globalization, cross-border payments have become a vital necessity. In 2019, their value totaled $130 trillion and is estimated to reach $250 trillion by 2027. Since the volume of cross border transfers is demonstrating such rapid growth, it is an absolute must for business owners to be aware of what these transactions are and how to make them efficient. Our guide is your key to mastering the intricacies of this topic.
PSD2: What Is Strong Client Authentication
The 14th of September 2019 was the day when Strong Customer Authentication (SCA) requirements for online payments entered into force as a part of the second Payment Services Directive (PSD2). These regulations drive change in online retail and payment security.
3DS2 – a new level of security. What’s new and how to transit?
We are considering how to switch to new 3‑D Secure 2.0 protocol without spending a lot of resources on it. And most importantly, how not to lose in conversion and not to harm patency of payments during transition period.
Comprehensive Guide to Credit Card Processing
Whether you are an offline or online merchant, you probably deal with credit cards daily. While many merchants disregard the complex algorithm that launches after the client clicks the “Pay” button, it is best to know how it works.
Payment Reconciliation: What It Is & Why Successful Business Needs It
Payment reconciliation is an accounting process, which allows you to keep track of the precise state of your company's accounts. We’ll review how it works and how your venue can benefit from it.
Payment Conversions - A Quick Guide to Increase Them
The conversion rate equals the success of your business. We’ll review the reasons why they can be low, and explain how you can fix that issue with card transactions and other payment methods.
Gateway to Success: Why Is a Payment Gateway the Best Solution for E-commerce?
A payment gateway is a tool that no e-commerce company can do without. Let's see why and which benefits it will bring.
PCI DSS Certificate & Why Your Business Needs It Right Now
PCI DSS is a security standard that was designed to protect credit/debit card transactions. Let’s see why your company needs it and which benefits it will bring.
Is an Ecommerce Payment System Secure?
Ecommerce transactions are a great opportunity to quickly transfer money from a client to a merchant, without errors, high fees, time losses, and long queues.
What is Chargeback and How to Avoid it?
Online payment using a bank card is convenient for cardholders. However, there are cases when services or goods are not provided (or provided not in full). In such cases, a customer has a chance to get money back. A chargeback procedure is provided for this.
Trade Acquiring – What is it and Who is it suitable for?
Trade (offline) acquiring is a service connected by banking institutions so that any retail point of sale, from a local store up to large supermarkets, can accept cashless payments. For this purpose, a specialized device – a POS terminal – is required to make payments using the client’s bank card.
A Merchant’s Guide to Acquiring and Issuing Banks
A card issuing bank and an acquiring bank are some of the required parties to conduct a payment transaction. It is important for merchants to understand what responsibilities each of the parties has, how they are involved in payment processing, and what the difference between these two notions is. Let’s get started!
How to Choose the Right mPOS System for your Business?
To accept card payments, a business needs a terminal. Stationary POS terminals are found in any store, but there are also portable readers that are connected to a smartphone or tablet. So, we dedicate this article to mPOS meaning and related issues.
E-Commerce vs. M-Commerce: What’s the Difference?
Business goes digital more actively these days. Its two main pillars are electronic and mobile trade transactions. Let us tell you more about them.
Web Acquiring — Why Your Business Needs It
Online acquiring is a crucial component of every type of business. We'll tell you why you need it, how it works, and how to integrate it in your company.
What Kind of Acquiring do I Need?
In 2021, bank cards like Visa and Mastercard have become the most popular means of payment in the world. It is a figure that demonstrates how fast global commerce evolves and explains why it is becoming harder to conduct business without acquiring.
How to Choose a Merchant Account Service Provider?
Choosing a merchant account provider to handle electronic check or credit card payments is one of the most important decisions you will make as a business owner. Pick the wrong service provider, and you’ll pay high rates and fees, getting poor quality of service and a payment solution that doesn’t meet your business needs. Choosing the right supplier means gaining a competitive advantage.
Fintegrate Cashier System from Payneteasy: Everything You Need to Know
Balancing out the payment process can be a continuous struggle for platform providers and large merchants who manage multiple PSPs. This practice often leads to reduced acceptance rates, wasted time and resources, and errors in charges.
Technological flexibility: a bank’s dream come true
Without doubt, banks have come to the realization that a technology-driven strategy is essential for operational efficiency. Most of the industry’s giants went digital long ago in terms of the user experience with apps and portals. That’s crucial for their UX – in terms of how their customers see them.
Creative payment solutions through customization
PSPs and financial institutions often have needs that are unique to their business. These needs that go unaddressed can turn into pain-points, and revenue reduction.
Building a robust PSP business
It's no secret that the payment industry has come a long way. From 1997, when Authorize.net started it all by collecting transactions by fax and email, the developments have been extraordinary. Today, we are looking at a rapidly evolving industry, from instant payments, thousands of payment methods, global infrastructure, open API, remote KYC, to purchases for cryptocurrency