Stephan Schmidt

#Finastra to Power #LGT’s #InstantPayments in #Austria and #Liechtenstein #financialservices #fintech #banks #banking #payments #ecommerce #digitaltransformation #Money2020EU #FintechLive https://lnkd.in/gd64RyNg

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The launch of Wero has been announced, a mobile-first digital wallet and instant account-to-account payment solution in Germany, brought to you by the European Payments Initiative (EPI). 🌍💳 Starting now, German Sparkassen and Volksbanken customers can make instant P2P transactions using just a phone number, QR code, or email address. Wero aims to revolutionize payments across Europe, offering seamless, secure, and instant money transfers. 🚀 Key Highlights: Instant Payments: Send and receive money instantly using only contact details. Secure and Seamless: Enhanced security features ensure safe transactions. European Expansion: Launching soon in Belgium, France, and other regions. Why is this important? Wero is the choice from the European Union to advance with its plans on deploying an instant and interoperable payment solution to be used across the region. However, (we latinos always like to do things our way) and Spain, Portugal and Italy have joined forces to make theis ( Bizum, Mbway and Bancomat) interoperable. Who will win the race? The north with Wero? Or the Latins? It is going to be an interesting battle, but in the end interoperability is a common interest for all, regardless of its final name choice . Article in comments. #Fintech #DigitalPayments #Innovation #EPI #Wero

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Fabrick Publishes Report on Embedded Finance Trends in Europe Reflecting on the findings, Paolo Zaccardi, CEO of Fabrick, noted: “We are pleased to see strong market validation for our focus on End-to-End payment solutions. We strive to become a reference point for innovation at a pan-European level, meeting current demands and anticipating future needs in the Embedded Finance sector. This research confirms the industry’s shift towards integrated financial services. The trajectory of Fabrick’s journey shows that Embedded Finance in B2B projects effectively addresses players’ needs in managing payment flows and for invoice reconciliation. As such, we have concluded that embedded finance enables companies in any sector to integrate financial solutions via APIs, allowing them to offer payment, banking, and insurance services without the need for proprietary financial infrastructure.” https://lnkd.in/eCHM_mZZ #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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💡 Last week European Payments Council published third version of Mobile Initiated Sepa (Instant) Credit Transfer and Interoperability Guidance. Below is few highlights from the guidance SEPA Instant Credit Transfers are gaining traction within the SEPA framework, with mobile channels anticipated to play a crucial role in their adoption. Retailers being increasingly interested in SCT-based payments for both in-store transactions and mobile commerce, viewing them as a complement to traditional card payments. Several European countries have already launched various solutions in this area, reflecting the growing momentum for instant payments. Mobile Initiated SEPA (Instant) Credit Transfers (MSCTs) represent a modern approach to digital payments, allowing users to initiate instant credit transfers directly from their mobile devices. 💡 MSCT Transaction Mechanics MSCTs encompass both SCT Inst (SEPA Credit Transfer Instant) and SCT (SEPA Credit Transfer) transactions initiated through mobile devices. These transactions utilize existing payment infrastructures in the inter-PSP (Payment Service Provider) space, focusing on interactions beyond this space, such as between the payer's mobile device and the point of interaction (POI). 💡 Modes of MSCT Transactions There are two primary modes of MSCT transactions based on how payment initiation data is exchanged: 💡 Payee-Presented Data: In this mode, the payee provides necessary data to the payer, either through direct presentation or prior sharing (e.g., P2P payments). This method is widely adopted for various payment contexts, particularly P2P and consumer-to-business (C2B) payments at physical points of sale (POI), often using QR codes. 💡 Payer-Presented Data: Here, the payer provides their identification data to the payee, which can be shared through proximity technology or manually entered. This mode is appealing for businesses wanting to offer enhanced customer experiences but faces challenges such as the need for compatible POI terminals and security concerns regarding data generation. The standardization of QR codes for interoperable SCT Inst payments is currently in the final approval stage by the European Committee for Standardization (CEN). 👉 Click here to read the complete guidance: https://lnkd.in/dyAiPbSz

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Brite Payments Launches Instant Payments in Germany to Further Boost European Coverage “We now offer a complete solution to the German market – covering Instant Payments in addition to Instant Payouts – and can serve the needs of even more merchants and businesses,” said Lena Hackelöer, Founder & CEO, Brite Payments. “2024 is the year that A2A payments, or Pay by Bank, looks set to enter mainstream consciousness, and as the EU’s most populous country and the third-largest economy in the world, Germany represents enormous untapped potential.” https://lnkd.in/eUjZNdwa #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Many traditional banks are lagging in providing the #mobilebanking features that customers now expect. This gap presents a golden opportunity for well-equipped #neobanks to capture significant market share quickly. This example underscores the potential for nimble and innovative neobanks to disrupt the market and meet modern customer needs effectively. #neobanking #digitalbanking

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The Challenge: German grocery and beverage delivery service, flaschenpost SE struggled with managing fraud, particularly with SEPA Direct Debit transactions, a popular payment method in Germany. The Solution: The team found Forter's ability to accurately identify the true identity behind transactions unmatched—even when fraudsters tried everything to obscure their tracks, from changing email, shipping and IP addresses to new devices altogether. The Results: 🔹>98% approval rate 🔹 Reduced chargeback rate by 63% Dive in here: https://okt.to/JORqab

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🚀 We are excited to share that Payment Roaming has come to life! 🚀    A huge thanks to Dr Michael Salmony for hosting an insightful discussion with #Bluecode CEO and #EMPSA Chairman Christian Pirkner. Take a look at the interview now to learn more about the incredible potential of an interoperable European payment system! 🎧🇪🇺   #PaymentRoaming #mobilepayment #interoperability

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Finom Launches SEPA Direct Debit B2B Across Its EMI-Licensed Markets, Expanding Payment Options for European SMEs Read more: https://lnkd.in/dRr3Z2Ve #FINOM #SEPADirectDebit #B2BPayments #EuropeanSMEs #EMILicensedMarkets #finance #fintech #FinancialIT

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Is a new wave of P2P payments coming to Europe? 🌊🤔 Earlier this week, the European Payment Initiative (EPI Company) launched its Wero Wallet product in Germany.🇩🇪 This payments system enables instant peer-to-peer payments 24/7 through a combination of open banking and SEPA Instant Credit Transfer. If this sort of service sounds familiar, it is. Many European countries have similar systems, including Spain's Bizum and Belgium's Payconic. Further, many fintech innovators have tried creating P2P payment apps in the past, but with little success. So what makes Wero so different and why might they have a better outcome? Unlike other P2P payment services, Wero is an initiative from major banks across Europe. Instead of having to compete with other startups and incumbents, EPI can quickly roll out Wero leveraging their retail banking partners who already hold a natural advantage in their domestic markets. At the moment Wero is only available in Germany. However, EPI plans on rolling out the new service to both the French🇫🇷 and Belgian🇧🇪 markets later this summer. With ambitious growth plans, a sizeable amount of capital, and the backing of major retail banks, it's entirely possible that Wero ushers in a era of instant payments across Europe. What are your thoughts? Is Wero legit? Or is this project yet another in a long line of attempts to solve product-market fit for better p2p payments? /Written by Elliott Locke, ACSI Locke. Pau, our AI assistant, is currently on holiday in Greece. 

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Finom Launches SEPA Direct Debit B2B Across Its EMI-Licensed Markets, Expanding Payment Options for European SMEs “With the launch of SEPA Direct Debit B2B, we’re empowering SMEs across Europe to efficiently manage their payment flows,” said Yakov Novikov, co-CEO and co-founder at FINOM. “This feature simplifies complex financial operations, allowing small and medium-sized businesses to automate and manage their outgoing payments to other companies and tax authorities. It’s another step in our mission to build a full-stack financial operating system that enables entrepreneurs to streamline their financial commitments and focus on growing their businesses.” https://lnkd.in/eiaDuxB4 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Payments and privacy go hand in hand so it was great to speak to one of the leading names in online privacy, Nord Security. In this episode of the Pay It Forward podcast with payabl. we spoke to Kestas Saulis from Nord Security to hear about the growing scale of payment fraud and the use of VPNs for protecting the customer. Speaking to us from the payabl. booth at MPE 2024, Saulis also covers trends in the payments industry, such as ongoing research into Central Bank Digital Currencies (CBDCs) and Nord's commitment to enhancing payment security. https://lnkd.in/eWEXmNT7 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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⬇ Today, we’ll dive into the #Payments ecosystem in #Austria, from our white paper  "Key Players in the EU Payments Landscape 2024": https://lnkd.in/dVYy5rTP 💳 Despite the strong cash culture, Austria is shifting towards a more digital-friendly payment environment. Contactless payments have seen substantial growth, now accounting for over 75% of all cashless transactions. The country has also a high bank account penetration rate of 98.2%, with 1.81 cards per capita, primarily dominated by debit cards. 🌐 Alternative payment methods: Digital wallets are fast becoming a preferred method for online transactions, making up about 25% of all online transactions. PayPal remains the top choice for Austrian consumers, while other players include Amazon Pay, Apple Pay, WebMoney, Seqr, Skrill, and Google Pay. Local solutions such as Raiffeisen Bank International AG ’s ELBA-pay, Erste Group’s George and Electronic Payment Standard (EPS) are also popular. 🏦 Banks: The Austrian banking system is well-organized, with banks grouped into industry associations based on their specific focus. The largest Austrian banks in terms of total assets in 2024 are Erste Group (245,7 billion €), Raiffeisen Bank International AG (152,2 billion €), UniCredit Bank Austria AG (101,66 billion €), BAWAG Group (45,66 billion €), and Raiffeisenlandesbank Oberösterreich AG (37,2 billion €). Other important banks include Oberbank, Steiermärkische Bank und Sparkasse, and HYPO NOE Landesbank für Niederösterreich und Wien AG. 📶 Payment processing & gateways: Key local players include DIMOCO Payments (founded in 2000, offering over 100 payment methods) hobex AG Payment Systems, and Paysafe. PAYONE, popular in Austria and Germany, facilitates various payment methods like Visa, Mastercard, and PayPal. Unzer serves over 70,000 merchants across Europe and recently expanded its POS solutions in Austria. Other notable regional providers include Concardis GmbH jetzt Nexi, Netcetera , Qenta Inc., Worldline and Global Payments Inc. ⚙️Infrastructure providers: PSA Payment Services Austria GmbH is a transaction service provider and has been the competence center for cashless payment in Austria for many years. The company focuses on transaction processing and helping banks ensure smooth payment operations for their customers. 🌟Austria is also home to our prestigious members Funanga AG and DIMOCO Payments. Key Takeway💡: “In Austria, the payments landscape is balanced between cash and digital methods, with a strong preference for cash among different age groups. However, there is a trend towards…” Want to read the full “Expert Opinion” from Deloitte professional Thomas John on the Austrian payment landscape? Download the report here: https://lnkd.in/dVYy5rTP

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Nexi Group Expands Payment Choice for Amazon.it Customers Filippo Maria Signoretti, Merchant Solutions Director of Nexi Italy, comments: “The agreement with Amazon.it demonstrates, once again, how Nexi’s international scale and strong local presence make it the ideal choice for global players who need partners with solid positioning in local markets. “Our best-in-class technology and our specialist skills allow us to collaborate successfully with the most important international players in all the European countries in which we operate, providing them with the best services and the best digital payment solutions they need for growth.” https://lnkd.in/eg4tthXN #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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