Stefanie Y.’s Post

We are thrilled to share that Danae Doptoglou, Director, and Ira Katsalirou, Consultant, Financial, Technology & Professional Services, recently attended a highly insightful conference on the future of Digital Payments. The event provided an in-depth exploration of emerging trends and the evolving market landscape. Key takeaways included: -The new EU legal framework for the widespread adoption of instant payments. -Regulatory imperatives shaping the industry. -Innovations and trends driving flexible, cyber-secure, and affordable transactions. These insights highlight the critical skills that will be in demand for payments industry executives in the near future.   #StantonChase #StantonChaseAthens #Payments #DigitalPayments #InstantPayments #FinancialServices #NewTrends #EventRecap 

Instant Payment: The Price War Has Begun: Instant payment will be introduced in Switzerland in August. The first banks must then be able to process payments in seconds. The first players are already positioning themselves. #instantpaymen #introducing

Damen, a leading electronic payment firm, and BKN301 Group, a London-based digital payments and BaaS provider in MENA, have enhanced their ‘Damen Cash’ app by introducing NFC technology for paying gas bills. This new feature was unveiled at the Seamless North Africa event, showcasing the strength of their partnership and commitment to innovation. As the fintech market in the Middle East and Africa (MEA) rapidly grows, expected to reach $47.68 billion by 2029, the integration of NFC payments in ‘Damen Cash’ aligns with the increasing demand for personalised financial solutions, supporting the digital transformation of the financial sector while enhancing user convenience and security. At Seamless North Africa 2024, BKN301 and Damen discussed financial trends such as embedded finance, digital banking innovations, open banking APIs, and the importance of cybersecurity. They also emphasised the shift towards a cashless economy, focusing on contactless payments and merchant solutions that support financial inclusion and SMEs. (Image by FintechFinance) #FinTech #DigitalPayments #NFC #FinancialInclusion #MENA #EmbeddedFinance

Payments remain pivotal in driving business and economic activities, with electronic transaction volumes in African businesses soaring six times faster than non-electronic payments between 2019 and 2023. This raises concerns about safety and prompts the question: How secure are your transactions? Dive into our latest blog, where we focus on the essence of digital trust in securing transactions. Link: https://lnkd.in/dURTAQP7 #PaymentsmadeEasy #meiPay #B2BPayments #iPay #DigitalPayments Mary Muchiri Owen Otwoma Eric Mwango

South Africa's card payments market is expected to reach $125bn in 2024, according to GlobalData. In this movement towards cash-less payment methods, card payment value increased by 13.4% in 2023, driven by a rise in consumer spending. The government and various financial institutions are driving a further shift towards electronic payments, predominantly through contactless payments. Find out more in Electronic Payments International: https://bit.ly/3LK6Wi7 #cardpayments #cashless

Real-time payments are breaking barriers globally, with major developments in cross-border connectivity and domestic adoption in Australia, Europe, Kuwait, India, and Southeast Asia. The latest “Real-Time Payments World Map” with The Clearing House examines the surge of instant transactions worldwide: https://lnkd.in/ezTHi9Aj

🚀 The global instant payments market is projected to reach $287.4 billion by 2033, driven by rising demand for faster payments. With 143 million users, Zelle is leading the instant payments revolution in the U.S., making sending and receiving money faster than ever. In the Middle East, platforms like Saudi Arabia’s Sarie and UAE’s IPI are reshaping the financial landscape with strong government support and tech-savvy consumers. 💡 What makes instant payments so powerful? They’re real-time, 24/7, offering immediate access to funds—eliminating the wait of traditional methods. But challenges with regulations and infrastructure remain. Learn how regions are overcoming these hurdles. Read the full article👉 https://bit.ly/4fWpuc2 #InstantPayments #FinTech #DigitalTransformation #RealTimePayments #MENA #NorthAmerica

💡 Developing a domestic alternative to cards should be high on the list of priorities for the next European Commission and Parliament. The good news is Europe doesn't need to reinvent the wheel or to reproduce the closed bank payment scheme model at the SEPA level. It already has the 4 main building blocks for a compelling alternative: ⚡ Real-time payments, with the help of the Instant Payments Regulation. 🔌 Open banking to bring real-time payments to merchants and consumers. ⚖ A balanced commercial model with financial incentives for premium APIs. 👮♂️ A true single market for payments, eliminating IBAN discrimination. 📈 This formula creates a real-time, account-to-account payment method which stimulates both competition and innovation, leads to lower costs for merchants and consumers, and unlocks Europe’s payment infrastructure. Read our full article for more on how to achieve this vision: https://lnkd.in/dEkB2kWY #PSD3 #openbanking #instantpayments #paybybank

The news that the European Council has adopted a regulation on instant payments means that instant payments in euros 💶 will be fully available to consumers and businesses in the EU by 2027. Of course, many would say that instant payments are already old news, as the first initiatives to process them appeared in early 2012, and it is already a reality in, for example, the Baltic States since at least 2019. But we can guarantee that it will be a new wave 🌊 in Europe, as many FIs in the EU still haven't adopted it. The introduction of instant payments into the daily lives of customers will bring new technological challenges for accelerated processing of real-time transaction monitoring. In addition, it's important to stress the importance of careful consideration when deciding which rules to include in real-time transaction monitoring. This ensures that the smooth flow of transactions isn't disrupted - which is paramount for instant payments. At AMLYZE, we have been working with real-time transaction monitoring and adapting the system to instant payments since the very first day of our work, and now the majority of our customers use our solution as well as our knowledge of transaction monitoring rules. Integrating transaction monitoring tools seamlessly into the client's transaction flow allows for swift fund transfers while simultaneously freezing the funds of potential criminals. This presents a significant challenge for many, but we're here to offer substantial assistance 😉. #InstantPayments #RealTimeTransactionMonitoring #AML