The concept behind tokenization is simple. Tokenization is a tech-enabled way to safeguard sensitive information by replacing it with non-sensitive, scrambled strings of information. The practice of tokenization within the financial services realm might be most readily apparent with the tens of billions of tokens...
For smaller firms and startups seeking capital — the lifeblood of growth — the last few months of 2024 are holding some promise after a long drought of high interest rates and stubborn inflation. The IPO market has rebounded, up 30% for the first half...
Change in payments, as in life, happens slowly and then all at once. And as we navigate through 2024, the payments industry is undergoing transformative changes, driven by innovations spurred by the rise of new payment rails and ongoing efforts toward standardization. “We’ve been tracking...
The integration of financial products and services into digital ecosystems is transforming commerce. “With the advancements of technology and the platforms businesses rely on to run their operations, they are looking to integrate financial products to give their customer base more value,” Ben Griefer, COO at...
As digital commerce evolves, businesses are constantly seeking innovative solutions to enhance their payment processes. And providers are working around the clock to give them exactly that. The emergence of open payment platforms, as one example, represents a significant step forward, offering a more flexible,...
Banking software company Temenos has teamed up with Visa to provide the money movement solution Visa Direct to banks. Visa Direct will be integrated with Temenos Payments Hub and made available to banks via Temenos Exchange, the company’s ecosystem of partner solutions, the companies said...
Open banking at retail — at the point of checkout — has the advantage of lowering the costs below traditional credit and debit options. Christina Potter, head of eCommerce at Trustly, told PYMNTSTV that paying by bank also has benefits for end consumers, tied to...
All the innovation in the world changes nothing if it fails to meet the needs of end-users. And against a backdrop where expectations around payments convenience, speed, security and, increasingly, personalization have never been more heightened, innovation within the payments space is vital to both...
Consumers want what they want, how they want it. Consequently, when it comes to payments and commerce, businesses that can adapt to their needs and offer convenient ways to pay are best positioned to win in the long run. Case in point: digital wallets. The...
