NFC World

Its been a bad week for the CFPB…on the 21st October The Financial Technology Association (FTA), representing major BNPL (Buy Now, Pay Later) providers, filed a lawsuit against the US Consumer Financial Protection Bureau (CFPB) to block a new rule that applies credit card protections to the BNPL market. Banks file lawsuit against CFPB Now, The Bank Policy […]

A new report titled “Tokenisation in the Context of Money and Other Assets: Concepts and Implications for Central Banks” by the Bank for International Settlements (BIS) and the Committee on Payments and Market Infrastructures (CPMI) explores the rising importance of tokenisation in regulated financial markets. Tokenisation in the context of money and assets Tokenisation, in

Explosive growth over the next five years will see instant payments constitute more than 30% of all transactions by 2030. While this creates risks and challenges for banks, there are also exciting opportunities ahead. By 2030, retail banking will more closely resemble the digital media business than the branch-based banking system we knew twenty years ago. Our

The European Central Bank (ECB) has unveiled new initiatives to enhance cross-border payments, building on its existing TARGET Instant Payment Settlement (TIPS) service. Cross-border faster payments initiative These initiatives aim to create faster, more accessible, and transparent global payment networks, improving how consumers and businesses within and outside the European Union (EU) transact. The ECB’s

Open Banking, Open Finance and embedded finance and how the digital wallet and Super App are at the beating heart of the evolution of payments and banking services. When so much is published and discussed about how banks can remain relevant, it can be difficult to pinpoint where exactly their efforts should be directed. Equally,

As the global payments ecosystem continues to evolve, 2024 presents a landscape marked by simpler user interfaces, but with growing complexity behind the scenes. According to McKinsey’s recent report, global payment revenues are expected to increase from $2.4 trillion in 2023 to $3.1 trillion by 2028. Six major trends will shape this growth, including the

APIs and Automation are the operative words for tier 2 and 3 banks navigating the narrowest of grounds between legacy and scalability. Mid-tiers bring their A-game In graduating from the legacy of foundation towards the actual legacy they aspire to, small and medium sized banks have their work cut out. For these mid-tier banks, the

The Financial Technology Association (FTA), representing major BNPL (Buy Now, Pay Later) providers, has filed a lawsuit against the US Consumer Financial Protection Bureau (CFPB) to block a new rule that applies credit card protections to the BNPL market. Fintech Trade Group sues over BNPL regulation Filed in the US District Court of the District

A new white paper from INFORM argues that banks should see the impending instant payments mandate from the EU in December 2024 not as a regulatory requirement, but as an opportunity for change and improvement. Instant payments are a financial services phenomenon. Already accounting for more than 40% of all payments by value in Asia[1], instant

As digital payments increasingly take centre stage, the Nordics have emerged as global leaders in cashless transactions, showcasing how businesses and consumers alike can adapt to rapid technological advancements. According to the Nordic Payment Report 2024, the payment landscape in the region is evolving, fuelled by a combination of consumer demand for convenience and business