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.
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.
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.
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.
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.
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.