This message was sent to ##Email##
To advertise in this publication please click here
|
|
|
.MAC UPDATES
Keynote announced for Level Up 21: Set your sails for July 27
Program your navigational guides for July 27 and join your industry crew for an exclusive keynote presentation, The Creator Mindset - How To Be More Creative At Work, from Nir Bashan, author of The Creator Mindset, speaker, and consultant.
The view from the MAC lighthouse has seen a lot of choppy water this past year. One way to survive and thrive is to find creative solutions. While it helps to have creative problem solvers from all levels of the organization, this isn’t an easy thing to train. You need to change your mindset. Nir will share four creative tools to use today to reawaken your long-lost creativity in his keynote presentation.
Nir has taught thousands of leaders and individuals around the globe how to harness the power of creativity to improve profitability, increase sales, boost customer service, and ultimately create more meaning in their work. Working with clients such as AT&T, Microsoft, Ace Hardware, NFL Network, EA Sports, Suzuki, Activision, and jetBlue, Nir has spent the last two decades working on a formula to codify creativity for business. That formula is found in 'The Creator Mindset,' a book that has been translated into two languages and released worldwide by McGraw Hill Business in August of 2020.
Learn more about Level Up and to register, click here.
|
|
Level Up Alert: Early Bird Registration extended
Did you get the nautical alert? MAC has extended the early bird savings for Level Up 21 to May 29. Reserve your ticket now for this premier event for the payments industry at the lowest possible rate.
With the new dues model, you can add all the company’s crewmates to your membership and extend the member pricing to everyone on deck. If you haven’t already done so, create an account on the new macmember.org website.
Not a MAC member? Join today as a member and receive members-only pricing on your Level Up registration, extend membership to your team, and grow your reach in the payments community through networking and collaboration.
Learn more about membership and the benefits here. Or send us a message in a bottle here, and one of our volunteers will reach out.
|
|
.INDUSTRY NEWS
Payment fraud fears grow during pandemic
Banking Exchange
Consumer anxiety around payment fraud rose significantly as the coronavirus pandemic forced more consumers online, according to a new survey.
The poll of 2,000 consumers across the US and UK was commissioned by the global card issuing platform Marqeta, and asked about consumer attitudes towards payment fraud post-pandemic.
|
|
|
|
 |
|
Boarding more merchants faster is key to growing a merchant acquiring business, but it’s risky. KYC due diligence is more than simply a required “tick-the-box” task—it’s the first and critical line of defense against boarding bad actors. This series is designed for risk managers looking to implement the latest advancements in KYC technologies to speed due diligence and underwriting while increasing revenue and compliance.
|
|
How bank-fintech pairings benefit FIs, not just SMBs
PYMNTS
When it comes to collaboration between banks and FinTechs, the value proposition is often just as important for the bank as it is for the small business end-user. This week’s look at the latest tie-ups reveals new efforts in small to medium-sized business (SMB) accounting, invoice financing and more to bolster the business experience while mitigating risk and enhancing digitization for financial institutions (FIs).
|
|
Trends in payment habits influenced by COVID-19 pandemic
Lexology
The Croatian National Bank recently published a report which discovered interesting, but not unexpected, changes in consumer behaviour in the payment services market brought about by the COVID-19 pandemic. The pandemic has influenced not only world markets and economies, but also the everyday lives of market participants and their payment habits.
|
|
3 trends changing the business of payments
Forbes
With the onset of COVID-19, digital payments went from a convenience to a matter of public health as businesses and customers tried to curb the virus by limiting the use of cash and shared devices.
“In the case of contactless payment before the pandemic, businesses had been trying to drive consumer behavior,” said Douglas Mearkle, head of merchant solutions sales at TD Bank. “But during COVID, it was the consumers who were demanding it as the safer way to pay.”
|
|
Bottomline: stopping the rise of payments fraud
The Fintech Times
Alongside a massive shift to digital payments, 2020 has seen a dramatic rise in online fraud. The Confirmation of Payee (CoP) was just one industry initiative introduced to combat this disturbing trend but its adoption has been slow and the PSR had to intervene with mandated deadlines.
|
|
|
|
 |
|
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.
|
|
How social media can make crypto payments mainstream
PaymentsSource
In mid-2018, the founders of Bottlepay, a fledgling fintech based in Newcastle, came up with the idea of enabling people to make payments through social media during a brainstorming session.
“We thought, ‘Right, let's put instant payments into social media,’ and we googled it and there was nothing out there,” Bottlepay founder Pete Cheyne recalled. “We were sort of astounded, and it became this ongoing research and development project for us.”
|
|
Insight Partners leads $60 million growth round in cross-border payments startup Thunes
TechCrunch
The world of digital payments is very fragmented, with different types of online bank accounts, digital wallets and money transfer services used in different countries. Singapore-based Thunes, a fintech focused on making cross-border money transfers easier, announced today it has raised a $60 million growth round led by Insight Partners. One of the world’s largest venture capital firms, Insight is known for working closely with growth-stage companies, helping them expand through its ScaleUp program.
|
|
Italy introduces new method of reporting cross-border invoices, Sovos
The Paypers
Global tax software provider Sovos has released research regarding Italy’s VAT regulation changes, introducing a new method of reporting cross-border invoices.
When Italy introduced its mandatory e-invoicing system, cross-border invoices weren’t included in the scope of the reform. To introduce the mandate, Italy asked the European Council for a derogation from the VAT Directive and the country was granted permission for the introduction of a mandatory clearance system for domestic transactions performed between Italian taxpayers. It’s possible all invoices handled under Italian law, both domestic and cross-border, were in the plans of the Agenzia delle Entrate all along. If so, it seems the idea to introduce far-reaching continuous transaction controls (CTCs) was never abandoned.
|
|
|
|
 |
|
Promoted by LegitScript
How will boarding new industries impact your merchant portfolio risk? Find out in minutes.
|
|
Stripe acquires Bouncer, will integrate its card authentication into the Radar fraud detection tool
TechCrunch
On the heels of a $600 million fundraise earlier this year, payments giant Stripe has been on an acquisition march to continue building out its business. In the latest development, the company has acquired Bouncer, a startup based in Oakland that has built a platform to automatically run card authentications and detect fraud in card-based online transactions. Its technology is tailored for mobile transactions and includes a flow to help users authenticate themselves if they are mistakenly flagged, to come back into an app legitimately (hence the name).
|
|
China bans financial, payment institutions from cryptocurrency business
Reuters
China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading.
Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrency, such as registration, trading, clearing and settlement, three industry bodies said in a joint statement on Tuesday.
|
|
|
|
Cryptocurrency scams have soared 1,000% since October
CBS News
As the popularity — and price — of bitcoin, dogecoin and ethereum continue to rise, so too do the online scams associated with those digital currencies.
Americans have lost more than $80 million in cryptocurrency investment scams since October, a 1,000% increase from the fall of 2019, according to Federal Trade Commission data. People between the ages of 20 and 39 were hit particularly hard, representing about 44% of the reported losses, the FTC said.
|
|
InstaMed: Digitization emerges as cure for healthcare payments
PYMNTS
Healthcare payments in the United States may not be all that healthy — a diagnosis easily made with a quick glance at the less-than-inspiring numbers that continually roll in from the segment.
According to PYMNTS’ Healthcare Payment Experience Report released earlier this year, 22 percent of patients who described themselves as “very” or “extremely” loyal to their current physicians or healthcare services would be willing to switch to competitors that offer improved digital communication tools, such as automated payment reminders; 54 percent of patients are interested in monitoring their upcoming provider payments digitally; 43 percent are willing to store their preferred payment details with their providers and another 43 percent would automate payments to avoid repetitive manual data entry in the office and online.
|
|
Will pan-European collaboration take payment fraud combatting to the next level?
The Paypers
Scams tailor-made for the pandemic have been painful reminders of how quickly fraudsters adapt and exploit new vulnerabilities. In the same vein, the increasing integration and acceleration of the European payments ecosystem through SEPA and the ramp-up of instant payments have opened new doors for fraudsters.
|
|
|
Promoted by
Sysnet Global Solutions
| Are you ‘prescribing’ the right security solution to your merchants?
When it comes to small businesses, an all-in-one cybersecurity solution is just what the doctor ordered. |
|
|
|
|
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.
|
|
|
|
|
NodeVenture develops virtual crypto safe
The Paypers
Austria-based crypto custodian NodeVenture has developed a virtual safe that enables banks and financial service providers to store digital assets securely.
According to a NodeVenture representative, since 2018, over USD 7 billion have been lost to theft, hacks and fraud because of a lack of specialized technical know-how. Access to NodeVenture’s virtual safe is regulated by a ‘private key’ with a length between 26 and 35 characters. The private key is stored offline on a cryptographic module in a high-security data center. The owner of the cryptocurrency only gets the public key.
|
|
|
|
|
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063
|
