This message was sent to ##Email## To advertise in this publication please click here March 10, 2021 .MAC UPDATES MAC Board Elections MAC’s annual election cycle for open Board of Directors seats starts this month. If you, or someone you know, are interested in applying, please look for our announcement in next week’s MAC Dispatch. Being a Board member is a wonderful opportunity to give back to the industry, share your experience, and lead MAC to its next level of impact. READ MORE Have you registered for the next webinar? "How to Launder Money – Inside the Mind of a Money Launderer,” presented by Christian Chimel, Chief Executive Officer at Web Shield Limited, is scheduled for March 29 at 1 pm EST. Christian Chimel will expose the tricks of the money laundering trade. The presentation combines strategic insights on why AML matters to your business, reputation, and bottom line with practical tips on identifying organizational blind spots and designing better controls. This webinar is ideal for C-Suite executives, plus those working in risk, compliance, and business development roles. Register here: https://bit.ly/301S0nB READ MORE .INDUSTRY NEWS 5 digital payment trends shaping the financial ecosystem in 2021 IBS Intelligence Though cash remains the king in India, the coronavirus pandemic has proved an accelerator for the adoption of digital payments. The year 2020 witnessed a surge in digital payments and contactless transactions in the country. With the support from regulators and banks, who are working to instill trust and minimise the risk of non-cash payments, 2021 will witness an increase in innovation in the digital payments industry. READ MORE  SPONSORED VIDEO Register for 2021 G2 Risk Summit Legitimate merchants and bad actors alike can adapt to anything, including a pandemic. Whether you have a conservative or risky merchant portfolio, understanding shifts in payments risk is core to your success. This year’s event is dedicated to the tools of modern risk management—web forensics, data science, and automation. WATCH VIDEO Digital intermediaries threaten the payments status quo PYMNTS March 19 will mark the one-year anniversary of the U.S. lockdown in the face of the global pandemic. Since then, the payments and commerce headlines have been mostly about one thing: the consumer’s massive shift to digital. Mostly because it’s indisputable. READ MORE FinCEN alerts banks to pandemic relief payment fraud National Law Review The Financial Crimes Enforcement Network (FinCEN) recently issued an advisory to banks that outlined 14 red flag indicators to be on the lookout for (and report) related to pandemic related economic relief payments. Entitled “Advisory on Financial Crimes Targeting COVID-19 Economic Impact Payments,” FinCEN issued the advisory based on its “analysis of COVID-19-related information obtained from Bank Secrecy Act (BSA) data, public reporting, and law enforcement partners.” READ MORE  SPONSORED CONTENT Promoted by Verisk Financial G2 MERCHANT BOARDING GUIDE: Learn how to streamline your KYC processes Fintech disruption trends: A changing payment landscape on the horizon Information Age From embedded finance to the demand for software-based payment technology, cross-border e-commerce and the the rise of Fraud-as-a-Service, this article explores the main fintech disruption trends the financial services industry can expect in 2021 and beyond. Here, six UK fintechs share their main fintech disruption trends. READ MORE Hong Kong fintech unicorn WeLab raises $75 million led by insurance giant Allianz TechCrunch One of the few industries that have benefited from the COVID-19 crisis is online finance. Around the world, the pandemic has forced consumers to adopt digital banking. Hong Kong’s WeLab, a fintech company founded in 2013, saw users soar by 20% year-over-year in 2020, bringing its accumulative user base to 50 million. READ MORE  PRODUCT SHOWCASE Age Verification For Your Merchant Portfolio AgeChecker.Net is the leading provider in online age verification for age-restricted industries. Compliance for Tobacco, Vape, CBD, gaming, supplements and many more. Require your merchants to use online age verification for age restricted products. Protect your merchant portfolio by adding an additional layer of KYC compliance. LEARN MORE The top payment methods used for fraud worldwide eMarketer According to executives worldwide, debit cards, credit cards, and PayPal ranked as the top three payment methods used for fraud. The same Ravelin survey found that digital payment services Apple Pay, Google Pay, and Klarna were far less likely to be used for fraudulent transactions. READ MORE New study: Credit unions and fintechs square off over touchless payments PYMNTS “Don’t touch that!” No other parental admonition from our childhoods is as relevant to 21st-century payments as a universally-recognized “hands-off” warning. Only this time, it’s not about your brother’s hockey gear, your sister’s makeup or even Dad’s sacred toy railroad collection. Now, it’s about ATMs, cash, POS keypads in stores — you name it. Just don’t touch it. READ MORE  SPONSORED CONTENT Promoted by The Third Party Payment Processors Association Introduction to the Third Party Payment Processors Association TPPPA 2021 Training Schedule Including AAP & APRP CEC Eligible Webinars SAVE THE DATE: TPPPA 2021 Solving the Payments Puzzle Conference TPPPA - MAC Member Recorded Training Library Payments trends from the past with major impact in the future: Notes from MPE Virtual 2021 The Paypers The MPE conference, which was hosted online this year, was a virtual place where speakers delineated a comprehensive picture of 2020, while also providing their insights into how industry players can prepare for what the future holds. Although it’s difficult to make predictions in a very unpredictive environment, product innovation, customer behavior, regulations and expansion strategies are ongoing topics to develop and watch for a better dynamic. Therefore, as a long-term media partner of MPE, we bring out to our readers the key takeaways that bring value to all the merchants, PSPs, issuers, acquirers and fintechs in the payments landscape. READ MORE Mastercard and Samsung set to launch biometric payment card Business Insider Mastercard and Samsung are joining forces to introduce a biometric payment card in South Korea that lets users authenticate transactions with their fingerprint. The card is set to launch later this year and is being marketed as a corporate credit card in partnership with Samsung Card, though there could be a wider rollout later on. The card's chip integrates Samsung's technology and will be able to be used anywhere that accepts Mastercard chip cards globally. READ MORE  CONTENT SHOWCASE Transaction Laundering: Typologies and Methodologies Promoted By LegitScript In this upcoming LegitScript webinar on Wednesday, March 24th, learn the latest research on transaction laundering typologies, including the ways in which launderers hedge their risk and alter strategies over time. REGISTER NOW Walmart's fintech ambition: A super app, not the 'Bank of Walmart' Forbes Giant retailer Walmart has made a couple of big announcements recently regarding its plans to create a financial technology — or “fintech” — business unit. “Modern, innovative and affordable financial solutions” is not much of a clue as to what Walmart actually intends to do with its new fintech unit. READ MORE Fintech firm digitally transforming the investment sector Business Mole A North-East based fintech firm has been launched with the aim of digitally transforming the way private equity firms, venture capital funds and angel investment networks currently manage the end-to-end investment process. Quva’s software platform streamlines the way alternative investment managers originate, transact and monitor their investment portfolios. READ MORE How to avoid online payment fraud while using UPI apps, e-wallets Gadgets 360 Avoiding online payment fraud while using UPI apps or e-wallets is becoming increasingly difficult with the growing volume of online transaction in India. Total number of transactions made through the Unified Payments Interface (UPI) in February 2021 was 2.29 billion, according to data provided by the National Payments Corporation of India (NPCI). And as more people make payments using UPI apps and e-wallets in the country, the incidences of online fraud grow. Scammers continue to find new ways to steal the hard-earned money of individuals. Many such victims have posted about their ordeals on social media. READ MORE What you need to know before accepting Bitcoin payments Inc. Digital currency may not be quite mainstream yet, but a growing number of companies are now are accepting Bitcoin as payment. The question is, should your small business do so too? The answer depends on your business goals, and exactly what you plan on doing with your digital gains. READ MORE  SPONSORED CONTENT Promoted by Arnall Golden Gregory LLP A New Sheriff in Town: FTC Commissioner Rohit Chopra Chosen to Lead CFPB Supreme Court Hears Oral Argument over FTC’s Section 13(b) Authority New Frontiers for the FTC in Healthcare Following the Consolidated Appropriations Act Anti-Money Laundering Act of 2020 Makes Significant Changes to BSA/AML Regime Merchant, Beware: That Surcharge May Be Illegal Fintech startup Fintern takes on the banks with data-driven loans Forbes Gerald Chappell and Michelle He have spent much of the last decade advising leading banks on how to digitalise their operations. Now the duo, formerly of McKinsey and EY respectively, have struck out on their own with Fintern, a financial technology (fintech) startup making big promises to transform the consumer lending market. READ MORE Planet partners with Cybersource for payment innovation The Paypers We’re a revenue generating payments partner that works with customers in the Retail, Hospitality, Food & Beverage, Parking, and Financial Sectors. Our overarching aim is to make it as simple as possible for our customers to process all types of payments from the consumers they serve. Those payments may be made online or in person, at a point of sale in a store or other physical venue — any type of payment, anywhere. READ MORE FEATURED WHITEPAPERS   Promoted by Sysnet Global Solutions Learn how acquirers and processors can reduce their reliance on PCI non-compliance fee revenue while setting the stage to deliver enhanced security capabilities that increase PCI compliance, reduce merchant churn, and dramatically enhance overall recurring revenue   DOWNLOAD NOW     Promoted by MultiView Nearly two decades ago we recognized that industry associations relied on offline communications in an increasingly online world. We also saw that businesses who sell to other businesses [B2B] were limited to just a few traditional tactics for reaching their niche groups.   DOWNLOAD NOW   Late payment challenges show need for supply chain solutions PYMNTS Firms such as Greensill provide supply chain finance, which if used correctly can be a tool to combat late B2B payments. But amid Greensill’s apparent unraveling, the question must be asked whether something specific to the business has caused the pressure and troubles, or whether it’s what might be thought of as a one-time occurrence. READ MORE   MAC Dispatch Connect with MAC Jason Zimmerman, Director of Publishing, MultiView, 469-420-2686 | Download media kit Oliver Kirby, Senior Content Editor, MultiView, 289-695-5401| Contribute news MAC 12409 E Mirabeau Parkway  |  Spokane, WA 99216  213-309-6165   |  Contact Us  |  www.macmember.org Click here to unsubscribe.  Learn how to add us to your safe sender list so our emails get to your inbox. ADVERTISE SUBSCRIBE PAST ISSUES   7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063