NFC World

News from the NFC World journal

The potential the agent model promises for Direct Carrier Billing

One of the more interesting players in Europe’s dynamic payments sector is Vienna-based mobile specialist DIMOCO Payments. The company is convinced that Direct Carrier Billing (DCB) has a range of unique attributes, which can take it far beyond the relatively narrow niche it has traditionally served. The agent model and Direct Carrier Billing Payments Cards […]

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Cross-border payments: Update on industry initiatives

Cross-border payments have long been a critical aspect of global finance, facilitating trade and economic interaction across nations. However, the complexities and inefficiencies associated with these transactions have often led to significant challenges for payment service providers (PSPs) and their clients. Cross-border payments update At EBAday 2024, Simon McConnell, a Board Member of the Euro

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One in four bank clients drop out due to complex onboarding

Research published in January 2023 by The Financial Brand says[1] that one in four clients drop out of onboarding for banking, financial services or insurance (BFSI) services, citing the need to provide ID and ID authentication documents (26% of dropouts), too much manual entry (26%) and slow processes (25%) as reasons for dropout. Read the

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EC accepts commitments by Apple to open NFC on iPhones

The European Commission has made commitments offered by Apple with regards NFC on iPhones legally binding under EU antitrust rules. The commitments address the Commission’s competition concerns relating to Apple’s refusal to grant rivals access to a standard technology used for NFC payments with iPhones in stores. The Commission’s competition concerns Apple Pay is Apple’s own mobile wallet

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Embracing the instant economy: The rise of Pay by Bank

The digital landscape is evolving rapidly, and the world of online payments is no exception. As we delve into the intricacies of the instant economy, it’s clear that consumers now demand speed, security, and simplicity in their transactions. As consumers increasingly expect real-time interactions across all digital touchpoints, the evolution of payment methods is crucial.

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As growth continues in BNPL, market dynamics fascinate…

The Global Payments Report 2024 from Worldpay projects continuing strong growth for Buy Now Pay Later (BNPL) as a payment form over the next five years. Underneath this positive outlook, however, lie deep structural changes in the BNPL market. In 2023, consumer demand for BNPL as a payments form reached an all-time high. Worldpay’s Global Payments Report

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The Spanish payments landscape – A detailed analysis

The latest Digital & Card Payment Yearbooks, offers a comprehensive overview of the Spanish payments and it significant transformations in recent years, driven by advancements in technology, consumer behaviour shifts, and regulatory changes. The COVID-19 pandemic notably accelerated the adoption of digital payments, setting the stage for further innovations and increased competition among traditional banks

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RTP Network breaks instant payments records – billion dollar day

US Consumers and businesses have taken advantage of instant payments through The Clearing House RTP network, which resulted in numerous records set in Q1 2024. RTP Network breaks instant payments records The network experienced a record 76 million transactions in the first quarter, valued at $42 billion. March was also a record month with nearly

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Local payment methods are an opportunity for competitive advantage

In a new white paper, “The shift to local payment methods – six recommendations for digital merchants“, Boku investigates a significant shift towards local payments. As outlined in the paper, Boku has worked with Juniper Research to analyse e-commerce payment data from 37 major markets worldwide. Everywhere in the world, it suggests, consumers are beginning

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Cryptocurrency’s influence on traditional financial institutions

Since the inception of cryptocurrencies, they have been a disruptive force in the financial industry, reshaping and challenging the banking systems and how individuals interact with money. In this article, we will look at the impact cryptocurrencies have on the traditional banking system. Disintermediation and decentralization Cryptocurrency’s influence on financial institutions The decentralized nature of

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