Paul Bastow

Why stick to the old ways when you can upgrade to a seamless payment experience? Our Pay by Bank payment platform streamlines how merchants receive frictionless bank payments. See the difference for yourself and why many are making the switch! #Finduku #digitalpayments #paybybank

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A key challenge is the fact there is no common regulatory framework across the APAC region for non-bank FIs and fintechs to support cross-border trade, commerce, and payments. Read more here: https://lnkd.in/gRKB4Q4G Currencycloud #fintech #payments #regulation #compliance

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At PAYCLY Merchant Services, We Make Multi-Currency Payments Easy and Secure Exchanging money across borders for international business payments can be complex due to fluctuating exchange rates and differing currency regulations in various countries. This is where we help simplify the process. As a leading payment solution, We support multi-currency payments in over 130 currencies. Our clients can receive and send funds globally in the currency of their choice. Business owners don't have to worry about currency conversion costs or delays in value exchange. We handle all currency exchange automatically in the backend at highly competitive rates. More importantly, all transactions through the #PayCly platform are protected by advanced fraud prevention systems. We use the latest AI and machine learning tools to monitor payment patterns and flag any suspicious activity in real time. Our multi-layered security ensures funds are released only to verified accounts after thorough risk assessments. Have you ever lost money to chargebacks or payment fraud? As an e-commerce store, how much does fraudulent activity cost your bottom line each year? At #PayCly, our priority is to create a safe, trusted, and hassle-free payment experience for merchants. Contact our payment experts today to learn more about our fraud protection measures and setting up multi-currency accounts. You'll be amazed at how easy it is to accept payments from across the world while gaining complete visibility and control over your funds. Start accepting global payments with confidence on the PayCly platform: https://paycly.com/ #paycly #paymentprocessing #currencyexchange #OffshoreMerchantAccount #fintech

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Here's why I believe Continuous Payment’s (CPA) and Network Tokens work so well together: Continuous Payment Authority (CPA): • Empowers merchants to automatically charge for recurring payments • Ideal for subscriptions, memberships, and utility bills • Enhances convenience for both businesses and customers Network Tokens: • Replace sensitive card data with unique, merchant-specific tokens • Boost security by eliminating the need to store actual card information • Reduce the risk of data breaches and fraud The magic happens when we combine them: 🔹 Enhanced security: Tokenised CPAs significantly reduce the risk of fraud in recurring payments 🔹 Improved success rates: Say goodbye to failed payments due to expired, lost, or stolen cards 🔹 Seamless customer experience: No more updating payment details for every subscription 🔹 Reduced churn: Fewer interrupted services due to payment issues 🔹 Lower operational costs: Less manual intervention is needed for failed payments In essence, a tokenised CPA creates a 'set it and forget it' scenario that benefits everyone. Customers enjoy uninterrupted services, while businesses see improved cash flow and reduced administrative overhead.

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🔥Hot Take: Banking as a Service (BaaS) Compliance is Going to be Big 🔥 I don't normally make bold predictions when it comes to AML and Compliance trends but this is one that I'm "banking" on (see what I did there 😂😇) BaaS incorporates Banking partners and traditional financial institutions, Fintechs like payment providers and also middleware companies I'm still reading up on exactly how Middleware companies work but Amber D. educated me and others about a recent Synapse bankruptcy case which puts bank-fintech partnerships in the spotlight especially when $85 Million of customer funds vanished 👻 This is a great opportunity for Compliance professionals to find a niche, especially if they have a traditional finance and fintech background. Even crypto compliance professionals should be keeping their eyes open on the opportunities that will be emerging in this space Michelle Beyo new Future of Finance training has a whole section on BaaS and lays out both the opportunities and the challenges Dana Lawrence (pictured below) came by the Around The Coin podcast to share her thoughts on BaaS and broke down the entire ecosystem with real life scenarios. My friends at FINTRAIL and ACAMS have the CAFCA course, which I still think is one of the most comprehensive fintech courses for compliance professionals out there. 👀 If you look out for Jobs on LinkedIn you are started to see (BaaS) sprinkled into more Compliance positions and that is only going to grow. What Do You Think 💭⬇️

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#Payments is proving to be a stable sector with major companies achieving growth. “Visa is a longtime, established market leader that still enjoys strong growth prospects. Despite the ongoing evolution of the payment industry”, Morningstar reports “that a wide moat surrounds the business and that Visa’s position .. is essentially unassailable. .. The shift" to "electronic payments has driven Visa’s growth historically", this is "to continue for the foreseeable future. … emerging markets will offer long-term growth even as growth in developed markets slows.” Network effects "explains why a small number of networks have come to dominate electronic payments".. leading to "cost advantage strong enough to lead to a wide moat.” Similarly, “Mastercard has multiple characteristics that should draw investors’ attention. Despite the evolution in the payment space” analysts “think a wide moat surrounds the business and view Mastercard’s position .. as essentially unassailable. Digital payments, on a global basis, surpassed cash payments just a few years ago, suggesting that this trend still has a lot of room to run, .. emerging markets could offer a further leg of growth even as growth in developed markets starts to slow. Finally, .. the company is relatively agnostic to smaller shifts in the electronic payment space, as it earns fees regardless of whether payment is credit, debit, or mobile.” “PayPal’s development of a network early in the evolution of e-commerce allowed the company to build and maintain an enviable competitive position. Historically, PayPal’s growth had been driven by the ongoing shift toward electronic payments & the rise of e-commerce. However, the company is now seeing some headwinds in the near term as the positives from the pandemic reverse and new competition arises. Management has attempted to combat the pressure .. with a greater focus on cost control and product innovation” .. this “will likely take some time to see results". “American Express has enjoyed several years of accelerated growth as the company benefited from a recovery in travel and entertainment spending while growing momentum with younger demographics drove record new card acquisitions". This "has also supported significant loan growth, with net interest income increasing >69% from 2021 to 2023. Amex still generates >75% of its revenue through noninterest income, with its largest source of revenue being the discount rate. .. So far, spending has remained surprisingly resilient." This is a point to monitor. "While the company has become more diversified, T&E spending still accounted for 25% of total billed volume in 2023. Commercial card business (worth ~23% of 2023 volume), has shown more signs of pressure, with spending volume growth falling in 2024. App Economy Insights has released an update for selected companies. Link to sources in the comment. Nafis Alam Sam Boboev David Jimenez Maireles Nicolas Pinto Prasanna Lohar Panagiotis Kriaris Anna Maj

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Yuno expands across Asia. Yuno, the leading global payments orchestration platform, announces it has scaled up its footprint in Asia, launching its innovative payment orchestration solution in key markets including Singapore, the Philippines, Thailand and Hong Kong, among others. Businesses in these countries can now leverage Yuno’s proprietary platform to access over 300 payment options, as well as integrate cutting-edge features including one-click checkout modifications, smart routing, and robust anti-fraud tools, ensuring a secure and seamless payment experience and improved approval rates. This latest expansion, which comes on the heels of Yuno’s earlier launch in Malaysia and Indonesia, emphasizes the company’s commitment to enhancing support and services for both local and cross-border merchants in Asia. The region is experiencing significant growth in digital consumption, projected to reach $1 trillion by 2030 according to the e-Conomy SEA 2023 report. This growth is driven by a young and increasingly digitally-savvy population that is boosting demand for digital products and services. Source: https://lnkd.in/egJh7U3b Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #digitalpayments #financialtechnology #financialservices #financialsolutions 

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The National Retail Payments System (NRPS) was created in 2017 through BSP Circular 980 and paved the way for an efficient, safe and interoperable domestic payment system, as we know today. NRPS is comprised of 2 Automated Clearing Houses or ACH, namely: PESONet and InstaPay. Why are there 2? I asked the same question and was given the following answers. This supports business continuity, in case 1 is unavailable or worse, compromised. PESONet was created from the old EPCS (Electronic Peso Clearing System) which already had participation even before NRPS. It allowed the industry to test the new framework. InstaPay, on the other hand, had to be set up from scratch, and was aligned with the Real-Time Payment schemes that were already in place in most countries around the world. The initial idea was for financial institutions to offer both to individual and corporate clients for them to use interchangeably, depending on their situation. However, the characteristic of each ACH soon determined how institutions will participate and how this would be offered to their client segments. InstaPay is a real-time payment scheme. Once a transfer is made, the funds are immediately transfered, typically in 20 seconds. This is between 2 different institutions. In the past, this can only be achieved by transferring within the same institution. For example, transfers between 2 GCASH wallets. InstaPay also supports QR PH. Typically used for paying merchants, e.g., your quick cofffee fix, lunch takeaway, or your “pasalubong” for the family before going home. By now, you might have seen the “Scan Na All” standees. InstaPay is available 24/7 but is capped at php50k per transaction. The average fee is php25 (Sender Pays), but free for payments to merchants. Do companies use InstaPay? Yes, for small payments to employees, but not all participants offer InstaPay to their corporate clients. This is a matter of their commercial strategy and risk appetite. PESONet is a same-day payment service that operates a batch processing model. Payments are settled 3 times per day - 10 am, 1 pm and 4 pm. Participants are required to credit the beneficiary accounts before the next settlement cycle, but no later than 8 pm on the same day. Technically,PESONet does not have a maximum value limit, but some participants may set per transaction or aggregated daily limits. PESONet is useful for scheduled payments above php50k, e.g., salaries, amortization, dividend payments and pension, to name a few. Do individuals use PESONet? Yes, especially for payments above php50k and if their service providers are not participating in InstaPay. On the average, the fee is php50. As financial consumers, both individuals and companies are free to choose their financial service providers based on their needs. They should not feel “trapped” with one that does not meet their requirements. After all, it’s all about the power of CHOICE. #choosykadapat #digitalpayments

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You've Heard Of BNPL - What About SNBL? Buy Now Pay Later (BNPL) has been one of the success stories in payments over the past decade. But what about Save Now Buy Later (SNBL)? A way to benefit from spreading payments over time without taking on debt, it offers flexibility to both consumers and merchants.  Here's how SNBL works: a consumer commits to a purchase with a specific retailer, makes an initial payment, and then continues to add funds to an account. The total amount added to the account is expected to match the value of the goods they intend to buy. In short: 💰 Consumers enjoy potential cashback or additional rewards with SNBL payments. 🛍 Retailers benefit from increased sales, particularly in markets with limited access to formal credit. 📈 Businesses can share the benefits of purchases with their customers. 🗑 SNBL, like BNPL, typically results in higher total purchase values for online and in-store shoppers. In my interview with Payments Culture, I delve deeper into LayUp's offerings and our SNBL mission. Special thanks to Matt Jones for the feature! Read it here: https://bit.ly/3w7KvPG

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Fintelite goes to Money 20/20 Asia!🚀 Do you plan to attend this incredible event next week? We'll be there too! Meet our team to engage with our AI-built financial products and see how they can drive efficiency for your business. Looking forward to meeting you at Money 20/20 Asia! #Money2020 #fintechsummit #fintechconference

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How does 𝐒𝐖𝐈𝐅𝐓 𝐫𝐞𝐚𝐥-𝐭𝐢𝐦𝐞 system work? 💡Yes, SWIFT does more than cross-border messaging! . The diagram below shows how SWIFT Real-Time Retail Payments Systems (RT RPS) work.👇 It is implemented for Australia’s New Payments Platform (NPP). This is available on a 24/7/365 basis. ▶️ Steps 1 and 2 - The payer initiates a transfer transaction via the bank’s 𝐜𝐡𝐚𝐧𝐧𝐞𝐥𝐬 (online banking, mobile phone and branch). The bank channels can resolve the payer’s identifications into account numbers by talking to the 𝐚𝐝𝐝𝐫𝐞𝐬𝐬𝐢𝐧𝐠 𝐝𝐚𝐭𝐚𝐛𝐚𝐬𝐞. ▶️ Step 3 - The payer’s bank sends a message with payment details to the payee’s bank. This is done via SWIFT Payment Gateway (PAG). Then the payee’s bank confirms the details and sends back a response. The PAGs compose Domestic Messaging Channel (DMC), which is an in-country messaging solution. ▶️ Steps 4 and 5 - The payer side PAG sends a settlement request via DMC to the central bank. The central bank then sends a 𝐬𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭 𝐜𝐨𝐧𝐟𝐢𝐫𝐦𝐚𝐭𝐢𝐨𝐧 to both the payer’s bank and the payee’s bank. ▶️ Step 6 - The payee’s bank then credits the payee after receiving a settlement confirmation. ▶️ Step 7 - The PAG supports APIs that enable value-added services (𝐨𝐯𝐞𝐫𝐥𝐚𝐲 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬), such as personal identifier/alias resolution, fraud detection and e-commerce services, mobile and e-invoicing functions. — 👉 If you like my FinTech posts, please follow Hua Li and click the 🔔 on my profile to receive updates. #systemdesign #payments #fintech #swift

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Running a business? Manage all your transactions effortlessly with PosPe's all-in-one digital payment solutions. From secure payments to real-time analytics, everything is at your fingertips. 💼📱 #DigitalPayments #BusinessSimplified #PosPe

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The report notes that stablecoins, which are digital currencies pegged to traditional assets like the US dollar, are gaining momentum in APAC. Read here: https://lnkd.in/ggvAp82d -with Forrester Visa Fiserv Klarna Grab #fintech #payments #digitalpayments #bnpl #Lending

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🔍 Tigor Siahaan led the transition of Bank Fama to digital-focused Superbank, facing challenges in aligning tech and banking teams. 📈 Superbank saw significant growth in users and financial metrics, aiming to serve underbanked communities with strategic partnerships. 💡 Indonesia's digital banks address the vast unbanked population, leveraging tech ecosystems to expand their footprint. - Want full insights? Subscribe to Tech in Asia to read the entire article.

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