Payment method

Leveraging Technology to Improve Financial Inclusion in the United States

By Ismail Amla, Executive Vice President, Professional Services, NCR Corporation The benefits of financial inclusion are known and numerous. Households that lack access to bank accounts or relatively affordable mechanisms for receiving, paying, and spending money end up spending a significantly higher percentage of their income on cash-intensive financial options. These options, like money orders […]

Direct debit

Kahramaa Launches Direct Debit Service in Collaboration with Commercial Bank

Qatar General Electricity & Water Corporation (Kahramaa) on Saturday announced the launch of Direct Debit Service, which is the company’s latest electronic service aimed at providing smart payment solutions, in collaboration with Commercial Bank.With this innovative service, Kahramaa customers could “enjoy an easier and faster monthly bill payment experience than ever before,” the company said […]

Direct debit

Kahramaa launches direct debit service

Doha: Qatar General Electricity and Water Corporation “Kahramaa” today launches “Direct Debit Service”, its latest electronic service aimed at providing smart payment solutions in collaboration with Commercial Bank of Qatar “CBQ”, the pioneering digital bank in Qatar. With this innovative service, Kahramaa customers will be able to enjoy an easier and faster monthly bill payment […]

Digital wallets

The Central Bank is preparing a new regulation on digital wallets: they assure that it is to “avoid fraud”

Digital wallets, which have seen an explosive boom in recent years, are still under the watchful eye of the Central Bank. The entity’s board of directors will today analyze a new regulation which they say aims to “avoid fraud”. “It’s not about banning anything, it’s about enforcing the same know-your-customer rules that banks have to […]

Payment method

6 smart financial tips for newly married couples

After you tie the knot, there are many things that require your attention, such as setting up joint bank accounts and making a plan for living together. Finances are a big part of married life and should be considered when creating budgets and making other plans. Discussing finances doesn’t have to be complicated. Here are […]

Digital wallets

Argentina’s tax authority may confiscate digital wallets to collect tax debts

The Argentine Tax Authority (AFIP) will now be able to confiscate assets that taxpayers have in digital wallets if they have debts to the organization. The recommendation to the lawyers of this institution to include these digital accounts was made last year, but the execution of debt collection was suspended during the period of the […]

Credit card

the new way to pay Apple merchants; An AmEx debit card that earns rewards

Apple will let buyers pay merchants by holding phones together Apple has announced plans to introduce a contactless payment option later this year that will allow businesses to use iPhones to process transactions in stores without any additional hardware, competing with services like Square. The new “Tap to Pay” feature will allow US merchants of […]

Digital wallets

Argentinian collector gets green light to seize defaulters’ digital wallets by DailyCoin

Argentinian collector gets green light to seize defaulters’ digital wallets The measure coincides with an unusual boom in digital wallets among Argentinian users. In this period, the country felt the need to strengthen its collections to alleviate the serious financial crisis it is going through. Mandatory collection of tax debts was suspended due to the […]

Payment method

Should the US payment system have digital currency? | Opinion

The payment system in the United States is efficient and coupled with deposit insurance provided by the extremely secure Federal Insurance Deposit Corporation. Nevertheless, our payment system is facing challenges. According to the Federal Reserve, more than seven million, or 5% of households, are still unbanked. Nearly 20% have bank accounts, but still rely on […]

Payment method

Why banks are eliminating overdraft fees

The average overdraft fees costs consumers $35 per breach, making it an inconvenient and frustrating part of everyday banking for many people. But some big banks — Capital One, Bank of America, Truist, US Bank and Wells Fargo — have recently taken steps to reduce or eliminate overdraft fees for their customers. In 2019, Discover […]

Payment method

Personal habits that can increase financial risk

(MENAFN – ValueWalk) When it comes to things that may pose a risk to your finances, certain activities may immediately come to mind. Investing heavily in high-risk stock options, quitting your job without a back-up plan, or habitually making large, unnecessary purchases are all obvious actions that can certainly affect your finances. But what about […]

Direct debit

CBO works to enable direct debit, 24/7 fund transfers in Oman

A number of measures to support the roll-out of electronic payment initiatives are slated for launch this year, according to the Central Bank of Oman (CBO), in line with its broader strategy to advance the digitization of banking transactions. payment and consolidate the growth of a digital economy in the Sultanate of Oman. These initiatives, […]

Direct debit

CBO is working to enable direct debit, 24/7 funds transfers

Muscat: A number of measures to support the rollout of electronic payment initiatives are expected to be launched this year, according to the Central Bank of Oman (CBO), in line with its broader strategy to advance the digitalization of payment transactions and to anchor the growth of a digital economy in the Sultanate of Oman. […]

Credit card

Faridabad credit card fraud: seven detained for duping 187 in 21 states

Police in Faridabad on Thursday arrested seven people, who allegedly duped 187 people in 21 states, posing as employees of a public sector bank. Police said the gang targeted people under the guise of extending their credit card limit and after obtaining their card details, the defendants transferred money to their bank accounts. No less […]

Credit card

PAN-Aadhaar link, tokenization of debit / credit cards, other monetary deadlines to be respected in 2022

The new year 2022 is fast approaching and like every year, there are different deadlines in terms of personal finances that you should be aware of to avoid any criminal consequences. Unlike 2021 where there were up to 16 deadlines that an individual had to meet, this year in 2022, there are only 12 deadlines […]

Digital wallets

Malware that empties digital wallets, bank accounts come back to Google Play; Remove these apps as soon as possible

KEY POINTS Android users should immediately remove these seven apps from their devices Security expert has discovered that some apps are infected with Joker malware Google has already deleted infected apps from the Play Store Owners of Android devices are advised not to download multiple apps from the Google Play Store because they contain the […]

Direct debit

Launch of a direct debit service in Oman: CBO

Building on the deployment of electronic payment services in the Sultanate of Oman, the Central Bank of Oman (CBO) is preparing to launch direct debit services – a facility that allows customers to authorize service providers , such as utilities, telecommunications companies and others, to directly debit their accounts at monthly or other agreed upon […]

Direct debit

Direct Bank to Bank Transfers (Direct Debit) the Way Forward for Consumers and All Scales on Online Merchants

Have you ever thought about how your customers like to pay? A customer’s payment preference should be an important consideration in any business strategy, but payment systems are often not a priority or come after the fact. Too often companies spend time and resources on everything from product perfection to exceptional customer service, but forget […]

Direct debit

Payroll and Direct Debit Loan Provider GoCredit Increases Funding Security on Mintos

After their initial announcement of GoCredit go live Mintos on August 13, 2021, the team is pleased to confirm that Mintos has ‘finalized’ the Primary trust structure with the lending company. GoCredit would be the second company on Mintos (with Alivio Capital) to have such a “unique security”. As previously indicated, the initial guarantee consisted […]

Credit card

SCUF Gaming Store Hacked To Steal Credit Card Information From 32,000 Customers

Image: SCUF Games SCUF Gaming International, a leading manufacturer of custom controllers for PCs and consoles, is informing customers that its website was hacked in February to implant a malicious script used to steal their credit card information. SCUF Gaming manufactures high performance, custom gaming controllers for PCs and consoles, used by both professional and […]

Credit card

Consumers avoid store cards; Some New Lucrative Credit Card Bonuses

Interest in in-store credit cards plunges Consumer interest in in-store credit cards is waning this holiday season. Only 29% of consumers said they would be likely to apply for a credit card in-store this holiday season, up from 44% in 2020, according to a report Loan tree. However, consumers are still slightly more likely to […]

Credit card

Yolt Technology Services has partnered with Keebo for credit card services

Yolt Technology Services has partnered with Keebo for credit card services By Joy Dumasia Yolt Technology Services, one of the leading providers of open banking services in Europe, has been chosen by Keebo, a UK next-generation credit card provider, to deploy Open Banking data through the Account Information Services (AIS) application across its business, delivering […]

Credit card

Clik2pay launches an alternative to credit cards for online purchases | National company

TORONTO – (BUSINESS WIRE) – Sep 23, 2021– Payment service provider Clik2pay has launched its latest product, which allows consumers to pay for online purchases directly from their bank account. This one-of-a-kind development was pre-launched with Canada’s largest retailers at RCC store – and comes at a key moment given the rapid shift to e-commerce […]

Credit card

New rule on direct debit transactions from next month

Starting next month, automatic payment rules are subject to change. The Reserve Bank of India (RBI) has previously said that recurring transactions using debit cards, credit cards, a unified payment interface (UPI) or other prepaid payment instruments (PPI) will require factor authentication. additional (AFA). A large number of credit and debit card users have set […]

Direct debit

United Arab Emirates: Dubai waives commission on fees paid by direct debit – News

The Government of Dubai allows customers to pay fees for more than 1,200 services through the e-Pay portal. Dubai’s Ministry of Finance (DoF) announced on Sunday that it will waive the commission on the payment of all government transaction fees that customers incur when paying their current bank and savings account fees, via the Dubai […]

Direct debit

DOF waives commission on government transactions paid by “direct debit”

The Dubai Government’s Department of Finance (DOF) announced the cancellation of the commission on the payment of all government transaction fees that customers incur when paying their current bank and savings account fees, via the Dubai smart portal (e-Pay). The DOF explained that no commission will be collected when government customers pay the service charges […]

Direct debit

Dubai waives commission on fees paid by direct debit – news

Dubai – The government of Dubai allows customers to pay fees for more than 1,200 services through the e-Pay portal. Customer payments of government service fees by credit card continue to occupy the largest share of government-approved smart payment channels. – Photo file Posted: Sun Sep 19, 2021, 4:20 PM Last update: Mon Sep 20, […]

Digital wallets

Market size, trends and key players in the digital wallets market – VISA Inc., Mastercard Incorporated, Citrus Payment Solutions Pvt. Ltd., Apple Inc., Samsung Corporation, Google Inc., Microsoft Corporation, Amazon.com Citibank, Dwolla

New Jersey, United States, – The Digital wallet market The research report is a detailed study of the Digital Wallets industry that specializes in identifying the growth potential of the Digital Wallets market and potential opportunities in the market. Secondary research data comes from government publications, interviews with experts, journals, surveys and trusted journals. The […]

Digital wallets

Giant Eagle to accept Venmo and PayPal, citing popularity of digital wallets

PHOTO: SHUTTERSTOCK VSGiant Eagle and GetGo customers can now pay for their groceries without even having to open their wallet. Giant Eagle announced that it now accepts PayPal and Venmo QR codes as payment methods at each of the company’s 474 supermarkets and GetGo stores, recognizing the growing popularity of digital wallets and mobile transactions […]

Digital wallets

Digital wallets could help the unbanked

For many Americans, having a bank or credit union is an afterthought, an institution often seen as a necessity rather than a luxury. However, there are millions of Americans who are unbanked. It may sound daunting, but there is good news about it. First, digital wallets help fill that void for the unbanked. Second, investors […]

Digital wallets

New standards could revive digital wallet fortunes

Digital wallets could regain ground, with Indian payment body and Reserve Bank of India (RBI) allowing more flexibility in digital payment mechanism which has lost its relevance following the introduction of payment interface transactions unified (UPI). According to experts, allowing the use of UPI to load money into electronic wallets will help make the payment […]

Digital wallets

How Singapore’s digital wallets fared during the pandemic

Digital wallets in Singapore have had an exceptional year. With bottlenecks catalyzing the growth of online shopping, the local e-commerce market has reached US $ 7 billion in 2020. And growth should be sustained. 9 out of 10 new digital consumers intend to continue using digital services in the future. As the digital economy grows, […]

Digital wallets

“The interoperability of digital wallets would increase the penetration of digital payments”

New Delhi: With RBI making the interoperability of mobile wallets mandatory from FY23 onwards, issuers of non-bank PPIs (prepaid payment instruments) or digital wallets have been brought up to par with traditional bank accounts in terms of the services offered with the movement. allowing a much wider use and penetration of digital. payments in the […]

Direct debit

E. Fined £ 650,000 for accepting early direct debit payments

Energy giant E.On will pay £ 650,000 in compensation after taking direct debits from 1.6 million customers ahead of schedule. UK energy regulator Ofgem found the company withdrew money from customers’ bank accounts on December 24 rather than in early January, resulting in those affected sustained ” Personal expenses ; unexpected overdraft bank charges; difficulty […]

Direct debit

Pay your energy bills by direct debit? You may be entitled to a refund of £ 65

THE Donors who pay their energy bills by monthly direct debit (MDD) could claim a refund of £ 65 if new rules come into force to require energy companies to return excess credit accumulated on accounts receivable. Ofgem, the energy market regulator, says £ 1.4 billion is held in surplus balances by energy companies. Across […]

Payment method

Kelvin Okusanya who cheated on £ 3million payday lender jailed for six years

Kelvin Okusanya was jailed for organizing £ 3million scam in Wonga The mastermind behind a £ 3million Wonga scam that used the identities of thousands of innocent members of the public to withdraw money has been jailed for six years. Kelvin Okusanya, 32, was part of a gang that exploited the company’s website algorithms to […]

Direct debit

Furore direct debit Eon: the company apologizes for a “computer problem”

Dec 24 2020, 13:06 | Update: Dec 24 2020, 13:10 Eon took his swab today and had to apologize to angry customers on social media who compared the firm to Scrooge. The energy company was criticized Thursday, December 24. A number of customers on Twitter have complained about having unexpectedly withdrawn money from their bank […]

Direct debit

Martin Lewis: Take my direct debit challenge: can you save £ 100 in just 5 minutes?

Today, I put the glove on. I want to know how many of you are wasting money letting money flow out of your bank accounts without knowing it, on regular payments to services and businesses that you no longer use or have Not needed anymore. It shouldn’t take long and it can be hugely lucrative. […]

Direct debit

Why I don’t have an automatic debit on my credit card

Hello, tell me I’m wrong … Is it really true that the financial magician whose column I have been reading for years has not set up an automatic debit for his credit cards? Surely not. You are right. It is not uncommon for credit card statements to contain errors and unwarranted charges, therefore, I check […]

Direct debit

Change bank? Changes to levies to simplify matters

Consumers will more easily be able to reverse regular deductions from their bank accounts, such as gym fees or streaming subscriptions, as part of the next wave of services to be delivered over a high-speed payment system. The changes, which are expected to roll out from the end of 2021, are also expected to make […]

Customer payment

Hacker Steals Customer Payment Information in EatStreet Data Breach

EatStreet online food ordering service revealed a security incident in May that led to a data breach involving customer payment card information and sensitive information from delivery and restaurant partners. EatStreet “currently serves over 15,000 restaurants in over 1,100 cities” according to the company’s website and is a “one stop shop for online ordering and […]

Direct debit

Telstra: thousands of Belong customers overcharged during direct debit due to “system error”

Belong, Telstra’s low-cost internet and mobile service provider, overcharged its customers overnight, debiting bank accounts on several occasions. Key points: Customers found themselves unable to pay rent and purchase essentials after Belong overcharged their accounts They say the company’s phone line appeared to be down and its online chat system was not working Belong emailed […]

Direct debit

A Beginner’s Guide to Direct Debit for Small Business Owners

Collecting payments can be difficult for small businesses, a vital part of your cash flow, but so often a tedious process which, if not done effectively, can have very serious ripple effects. For many, direct debit will come across as a great way to ensure regular payment collection while saving you valuable time so you […]

Direct debit

Number of direct debits sets new record | Current account

More than 100 million direct debit payments were processed in a single day at the end of July, which UK bankers are hailing as another step on the road to a cashless society. On July 31, as salary payments landed in UK bank accounts, there was a record 103 million direct debit transactions. The previous […]