Banks, merchants, issuers, processors — they’re all locked in combat with shadowy fraudsters that gain system access via phishing emails as easily as mice sneak into old houses. For purposes of this analogy, the “basement” into which bad mice are creeping is most likely your...
Companies with global workforces need to overcome numerous challenges to quickly and easily pay their employees. Providing prompt compensation is critical because workers’ loyalty could be damaged if frictions affect their paychecks. Employees’ payment preferences and access to financial tools can vary, however. Firms recognize...
The cash on delivery model in India is starting to change as more Indian consumers embrace digital alternatives amid the pandemic, says Karthik Raghupathy, head of strategy for digital wallet provider PhonePe. In this month's Smarter Payments Tracker, Raghupathy discusses how offering streamlined mobile payment...
Companies that are looking to launch offices in more countries and serve customers in new markets need to be able to easily pay staff in those locations. The economic downturn caused by the COVID-19 pandemic has made it even more important that firms deliver payroll...
Several narratives have emerged from this pandemic. First has been the focus on digital transformation that essentially saved the economy during lockdowns. Another related theme is the need for legacy core banking systems to upgrade in ways that don’t protract disruptions. Looking at the plight...
Many consumers’ financial needs revolve around international transactions, meaning they require banking services that can help them smoothly make or receive cross-border payments. Workers who move to new countries often want to send money home to help out family members, for example, making finding convenient,...
For 40 million U.S. immigrants, opening bank accounts and cost-effectively sending funds to another country can mean using multiple banking and payment apps. But in the Smarter Payments Tracker, Rayo General Manager Joaquin Ayuso explains the role that Banking-as-a-Service integrations play in helping financial institutions...
Many consumers move to new countries to pursue economic opportunities, but adjusting to these locations also requires learning the ins and outs of new financial systems — a transition that can be filled with friction. Immigrants must quickly establish local bank accounts in their host...
Remittances are a lifeline for many individuals around the world, with workers overseas in developed countries frequently sending money back home to support families in emerging economies. These types of payment flows made up 5 percent or more of the gross domestic product (GDP) for...
