The IATA said it's investigating how to apply faster payments to passengers, whether directly from the airline or indirectly via travel agents. Globally, airlines absorb more than $8 billion in costs for merchant fees and fraud.
Retailers and payment service providers will need to report on at least a quarterly basis on performance against the reference fraud rates, writes Matthew Attwell, Risk & Client Services director at The ai Corporation.
If they haven't already, card-issuing banks will soon receive a shock when the speed of PSD2's requirements becomes clear. Payments will have to happen faster, and the deadline to make that happen is fast approaching.
Wirecard has gained a foothold in using virtual prepaid cards to streamline corporate payments across business units, platforms and borders for companies with sprawling operations. Now the German company wants to do the same for more U.S. companies going global.
In many ways, the goal of the GDPR is to increase difficulty for a hacker, while also flipping the rights of data ownership back to the European consumer. U.S. companies that serve European consumers are obligated to follow the regulations.
Bank of America Merrill Lynch has launched an application programming interface (API) gateway available to third-party fintech providers, as part of preparations for Europe’s PSD2 regulations that went into effect this month.
A fintech investment surge is underway across Europe. What’s unknown is how the looming Brexit situation may affect the U.K.’s strong fintech momentum, and where exactly funds would flow if talent and startups flee Britain.