Breaking Industry News
Breaking News articles for March 2022
Green Sheet interviews Alexandra Mihailescu Cichon
Tuesday, March 29, 2022
The Net-Zero Banking Alliance, comprising 98 members from 39 countries who collectively manage $66 trillion in assets, pledged to fight climate change by supporting net-zero emissions. At their inaugural meeting during the 2021 UN Climate Change Conference, members agreed to work together to prioritize areas of impact in greenhouse emissions and set near-term targets for reporting progress. The Green Sheet recently discussed the alliance with Alexandra Mihailescu Cichon, executive vice president of sales and marketing at RepRisk.
European fintechs foster sustainable ecosystem
Friday, March 25, 2022
Recent efforts to promote environmentally friendly practices suggest sustainability is top of mind for European fintechs. On March 24, 2022, Munich-based Giesecke+Devrient disclosed it is helping fintechs attract eco-conscious customers. On the same day, London-based firms Allstar and Zap-Map revealed plans to streamline payments at UK charging stations. Dr. Carsten Wengel, head of global sales and distribution in the Card and Digital Payment business at G+D, observed that sustainable lifestyles and business practices are on trend. "We are the best partner for fintechs in providing not only eco-innovative payment cards, but a network of eco-conscious partners that bring extra value to their offerings," he said.
Advanced, user-friendly platforms helping BNPL scale
Wednesday, March 23, 2022
Fueled by advanced technologies and data analytics, buy now, pay later (BNPL) is an increasingly popular checkout option online and in stores. Experts attribute BNPL's rapid growth to demand for tech-driven, extended payment solutions that drive approvals and customer satisfaction.
Fintechs become magnets for payment fraud
Tuesday, March 22, 2022
Financial technology firms have become favored targets for sophisticated and often automated payment fraud. The Q1 2022 Digital Trust & Safety Index, just published by the fraud prevention firm Sift, revealed the payment fraud attack rate for fintechs ballooned 70 percent over the same period in 2021. That's the biggest jump for any vertical on the Sift network, the firm reported.
Registration opens for MPC Digital in Atlanta
Monday, March 21, 2022
After two years of virtual conferences, the MPC Digital Commerce Event will return to a live stage Aug. 22 to 24, 2022, at the Westin Atlanta Perimeter North. Registration is now open for this 12th annual event, which will bring together a diverse cohort of fintech, banking, security and payments industry leaders, event organizers stated.
CFPB chief balks at rising interchange
Thursday, March 17, 2022
Rohit Chopra, director of the Consumer Financial Protection Bureau, had some harsh words for Visa and Mastercard during a recent interview on CNBC's Closing Bell. And he hinted that federal regulators may take a closer look at the card brands' pricing strategies.
Biden's digital asset EO sparks public commentary
Tuesday, March 15, 2022
Legal analysts and payments industry leaders are discussing President Biden's March 9, 2022, executive order (EO), Ensuring Responsible Development of Digital Assets, encouraging government agencies to evaluate and comment on a range of digital currency initiatives and deployments.
Consumers open to secure open banking, surveys find
Friday, March 11, 2022
Open banking is gaining traction with consumers around the world, according to separate studies by Entrust and Axway. Researchers from both organizations noted that banking is fast becoming an integral part of the digital customer experience.
Green Sheet interviews Okcoin CEO Hong Fang
Thursday, March 10, 2022
Okcoin, a cryptocurrency platform, is actively recruiting women through its partnership with podcast host Natalie Brunell and its grant programs, Bitcoin for Fairness and Ladies in Bitcoin. On March 7, 2022, the company disclosed the first grant recipients. Hong Fang, CEO at Okcoin, shared insights on these initiatives with The Green Sheet. Following are interview highlights.
Major payment brands exit Russia
Tuesday, March 08, 2022
Four of the largest retail payments networks are pulling out of Russia in response to that country's invasion of neighboring Ukraine. Mastercard, Visa, American Express and PayPal are suspending operations in Russia effective this week. All four companies said they will continue donating to humanitarian relief funds helping Ukrainians.
Merchants balk, Visa slashes interchange
Monday, March 07, 2022
Visa is planning to slash interchange rates for small businesses. The news came last week, as merchants were gearing up to run an advertising campaign calling attention to what one group describes as "the broken card market."
Mesh, Visa usher in post-PAN era
Friday, March 04, 2022
Mesh Payments, a corporate payment solutions provider, in partnership with Visa, unveiled the Plug & Pay Visa business card on March 2, 2022, a hybrid payment card solution designed to protect cardholder data from fraudsters. The companies described the product as a numberless physical card that supports a hot-swappable virtual card. The platform's additional tools and features give cardholders security, flexibility, control and more ways to pay, they noted.
Understanding the implications of removal from SWIFT
Wednesday, March 02, 2022
Russia's invasion of Ukraine has brought a particular aspect of banking and payment technology into sharp focus on the world stage. Amid the calls for sanctions against Russia, an option continually presented as one of the most severe was blocking Russia from access to SWIFT, the Society for Worldwide Interbank Financial Telecommunications. On Saturday, the United States and European allies announced their intention to ban the Russian central bank as well as certain commercial banks from SWIFT, a move anticipated to have major consequences for the Russian economy.
Shift4 acquires Finaro amid global ecommerce boom
Tuesday, March 01, 2022
Shift4 disclosed March 1, 2022, that it acquired Finaro, a cross-border payment and financial services provider specializing in international commerce. Shift4 executives noted that Finaro, formerly known as Credorax, is a fully licensed bank that will help the company expand its global footprint and enhance its vertically focused solutions. The new combined entity will be better positioned to compete with world-leading cross-border payments providers such as Adyen, Worldpay and Nuvei, representatives from both companies stated.
