DOCSLIB.ORG

Nilson Report Ecommerce Fraud-Fighting Technology for Large Enterprises Has General Purpose Cards—U.S

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Nilson Report Ecommerce Fraud-Fighting Technology for Large Enterprises Has General Purpose Cards—U.S FOR 49 YEARS, THE LEADING PUBLICATION COVERING PAYMENT SYSTEMS WORLDWIDE FEBRUARY 2020 / ISSUE 1169 Visa and Mastercard—U.S. 2019 Purchase volume tied to consumer and commercial credit, U.S. General Purpose Brands debit, and prepaid Visa and Mastercard cards issued in the U.S. Purchase Volume in 2019 Tl. reached $5.732 trillion in 2019, an increase of 9.0% over 2018. > see p. 10 Visa Credit Visa Debit $2.089 $1.942 Worldline to Buy Ingenico u 6. u 9. Worldline will spend $8.63 billion (€7.80 billion) in cash and stock to acquire Ingenico. The cash portion amounts to 25% of the purchase price. The deal is expected to be completed by July > see p. 5 29% Protecting Against Deep Fakes/Cheap Fakes Photographs and video images manipulated by off-the-shelf or rudimentary editing apps are called “cheap fakes.” Editing apps can remove or modify objects in an image, make it seem the photo or 31% $6.698 > see p. 5 Tl. 14% NXP Expands NFC Payments Ultra-Wideband (UWB) technology from NXP Semiconductors 12% delivers spatial knowledge greater than the current level of 12% accuracy found in GPS. Retailers, automobile manufacturers, and > see p. 6 Discover Mastercard Phone-to-Phone Global Money Transfers $0.146 Credit u .1 Mastercard $0.910 Cross-border money transfers are a $700- to $800-billion-a-year Debit u 12.2 business on the path to becoming a $1-trillion annual opportunity American Express $0.791 u 9.0 this decade. Mobile network operators (MNOs) worldwide want $0.821 > see p. 6 u 6. Fraud Fighting for Loyalty Programs © 2020 The Nilson Report Ecommerce fraud-fighting technology for large enterprises has General Purpose Cards—U.S. 2019 been the business of Forter since 2013. The company reviewed transactions valued at $150 billion last year with its fully automated Visa, Mastercard, American Express, and Discover brand > see p. 12 commercial (including small business), and consumer credit, debit, and prepaid cards issued in the U.S. generated $6.698 American Express and Mastercard in China trillion in purchase volume (spending for goods and services) in American Express is a year ahead of Mastercard and Visa in 2019, up 8.5% over 2018. Cash advances on credit cards and establishing domestic card operations in China. It received cash withdrawals on debit/prepaid cards are not included in preliminary approval from the People’s Bank of China (PBOC) that amount. > see p. 12 > see p. 7 INSIDE 2–3 Fast Facts CHARTS 4 Investments & Acquisitions—January 2020 8 Credit Card Outstandings—U.S. 2019 vs. 2018 4 Investments & 5 Card Processors Market Capitalization 9 General Purpose Credit Cards Issued in the U.S. Acquisitions— 7 General Purpose Cards Issued in the U.S. 10 Visa & Mastercard Purchase Transactions & Cards January 2020 8 Shares of Purchase Volume—U.S. GP Cards 11 Visa & Mastercard Debit/Prepaid/Credit—U.S. © 2020 HSN Consultants, Inc. THE NILSON REPORT VISIT US ONLINE AT WWW.NILSONREPORT.COM INLET, a joint venture of Pitney Bowes and Broadridge ASTRA, provider of a platform consumers can access by way Financial, has expanded its bill presentment network to of a mobile app to automatically transfer cash between their offer clients access to Mastercard Bill Pay Exchange, which accounts, has joined Visa’s Fintech Fast Track Program in the helps consumers view, manage, and pay their bills through a U.S. Terry Angelos is SVP and Global Head of Fintech at Visa, variety of payment methods, and receive payment confirma- [email protected], www.visa.com. Gil Akos is CEO at Astra, tion in real time—without leaving their bank’s mobile app or [email protected], https://astra.finance. website. Christopher Johnson is CEO at Inlet, chris.johnson@ KABBAGE has integrated custom loan offers to small inletdigital.com, www.inletdigital.com. Manal Toukan is SVP, businesses that use its Kabbage Payments subsidiary to Product Management, North America at Mastercard, FAST handle accounts receivables. Businesses can choose terms [email protected], www.mastercard.com. between 3 and 45 days and either repay loans in full or THE BANCORP BANK will provide back-end banking ser- allocate up to 100% of Kabbage Payments revenue towards FACTS vices and act as the exclusive Mastercard debit card issuer the balance over a period of time. Kabbage Payments offers for digital personal finance company SoFi. Ryan Harris is EVP unlimited online invoicing, next-day deposits, and no monthly FEBRUARY 2020 and Head of Payments Partnerships at The Bancorp, rharris@ fees. Rob Frohwein is CEO, [email protected], thebancorp.com, www.thebancorp.com. Anthony Noto is CEO www.kabbage.com. ISSUE 1169 at SoFi, [email protected], www.sofi.com. BIGCOMMERCE, a top provider of SaaS ecommerce plat- No display ads. BLUEFIN will provide PCI-validated point-to-point encryp- form services, has added a suite of multicurrency features to tion support to payment provider FroogalPay. That company support merchants’ cross-border operations. The features let No sponsored provides a virtual terminal, invoicing system, and hosted merchants natively present, transact, and settle purchases in content. payment pages to merchants, as well as access to 120+ more than 100 foreign currencies through prebuilt integra- No paid gateways. Greg Cornwell is CRO at Bluefin, gcornwell@ tions with payment providers Adyen, Elavon, Klarna, PayPal advertising of bluefin.com, www.bluefin.com. Jonathan Reinsdorf is CEO Express Checkout, and Stripe. BigCommerce will soon add at FroogalPay, [email protected], www.froogalpay.com. support for Barclaycard, BlueSnap, and PayPal’s Braintree. any kind. Jimmy Duvall is Chief Product Officer at BigCommerce, INGENICO has integrated Apple Pay support for loyalty Posting this issue [email protected], www.bigcommerce.com. programs with its software platforms. Shoppers can make to a company server purchases at the point of sale with Face ID or Touch ID on FACTOR4 has become the preferred private label prepaid or forwarding it to their iPhone and automatically present a merchant’s loyalty card and loyalty platform provider to payment processor other individuals in card, prepaid card, coupon, or ticket stored in their Apple Beyond. Dan Battista is CEO at Factor4, [email protected], your company is a Wallet. Mark Bunney is Director of Go-To-Market Strategy at www.factor4gift.com. Chad Carr is Chief of Business violation of copyright Ingenico North America, [email protected], Tool Products at Beyond, [email protected], laws. www.ingenico.com. www.getbeyond.com. Conferences & Seminars Seamless Middle East 2020: ICMA Expo 2020: March 29–April Seamless Southern Africa 2020: SEAA 2020: April 6–8, 2020. The March 25–26, 2020. The Dubai 1, 2020. The Saddlebrook Resort, April 6–8, 2020. The Sandon Intercontinental Miami, Miami, World Trade Centre, Dubai, U.A.E. Tampa, Florida. Estimated atten- Convention Center, Johannesburg, Florida. Estimated attendance: 900. Estimated attendance: 10,000. dance: 350. Cost for the four-day South Africa. Estimated attendance: Cost for the three-day conference is Cost for the two-day conference conference is $995 for members and 1,000. Cost for the three-day $125 until April 5, or $175 on-site. is $1,500. Subscribers to The $1,595 for nonmembers. Sponsor- conference ranges from $472 Contact John McCormick at General Nilson Report will receive a 65% ship and exhibitor opportunities are (R6,950) to $607 (R8,945). Group Credit Forms, (314) 216-8600, discount. To access this discount available. Contact ICMA at rates available. Subscribers to The [email protected]. Register book through the following link: (609) 799-4900, [email protected]. Nilson Report will receive a 20% at www.southeastacquirers.com. http://tiny.cc/seamless-partner- Register at www.icmaexpo.com. discount. (Use code Nilson20.) discount. Contact Pearl Crasto at Contact Nkululeko Mpanza at Terrapinn, 971 (4) 440-2537, Terrapinn, 27 (11) 516-4051, [email protected]. [email protected]. For more information visit Register at http://bit.ly/2vOWORt. https://bit.ly/2STsi2g. 2 VISIT US ONLINE AT WWW.NILSONREPORT.COM Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive 1 VISIT US ONLINE AT WWW.NILSONREPORT.COM Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive SPLITIT PAYMENTS, provider of card-based installment payments mer- PAYONEER, a digital payment platform used by businesses around the world chants can offer consumers, will integrate with Stripe Connect, enabling mer- serving over 4 million customers, has deployed the data science platform chants to automatically onboard to Splitit’s platform. Currently, that process is from Iguazio to predict and prevent fraud using real-time machine learning undertaken manually. Splitit will pay a small percentage of every transaction applications. Yaron Weiss is VP Corporate Security and Global IT Operations at processed via Stripe Connect to Stripe. Jeanne DeWitt Grosser is Head of North Payoneer, [email protected], www.payoneer.com. Asaf Somekh is CEO America Revenue and Growth at Stripe, [email protected], www.stripe.com. at Iguazio, [email protected], www.iguazio.com. Brad Paterson is CEO at Splitit, [email protected], www.splitit.com. NAJM prepaid cards in the Middle East can be added to Apple Wallets for ZELLE NETWORK reports $187 billion in person-to-person payments Apple Pay transactions. The cards are issued by U.A.E.-based Majid Al Futtaim processed on 743 million transactions in 2019. The monetary value grew 57% Finance. Cards operate on i2c’s Agile cardholder account processing platform year over year, with transactions up 72%. The network is owned and operated Amir Wain is CEO at i2c, [email protected], www.i2cinc.com. Rasool Hujair is by Early Warning Services. Lou Anne Alexander is Chief Product Officer at Early CEO at Majid Al Futtaim Finance, [email protected], www.maf.co.ae.
Load more

Recommended publications
  • India Fintech Sector a Guide to the Galaxy
    India FinTech Sector A Guide to the Galaxy G77 Asia Pacific/India, Equity Research, 22 February 2021 Research Analysts Ashish Gupta 91 22 6777 3895 [email protected] Viral Shah 91 22 6777 3827 [email protected] DISCLOSURE APPENDIX AT THE BACK OF THIS REPORT CONTAINS IMPORTANT DISCLOSURES, ANALYST CERTIFICATIONS, LEGAL ENTITY DISCLOSURE AND THE STATUS OF NON-US ANALYSTS. U.S. Disclosure: Credit Suisse does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Contents Payments leading FinTech scale-up in India .................................. 8 8 FinTechs: No longer just payments ..............................................14 Account Aggregator to accelerate growth of digital lending ...............................................................................22 Digital platforms and partnerships driving 50-75%of bank business ...28 Company section ..........................................................................32 PayTM (US$16 bn) ......................................................................33 14 Google Pay ..................................................................................35 PhonePe (US$5.5 bn) ..................................................................37 WhatsApp Pay .............................................................................39
    [Show full text]
  • THE RISE of ELECTRONIC PAYMENT SYSTEMS Praboju Shirisha* *MBA, M.A English, TS&AP- SET, Academic Consultant & HOD, Dept
    ISSN: 2277-9655 [Shirisha * et al., 6(12): December, 2017] Impact Factor: 4.116 IC™ Value: 3.00 CODEN: IJESS7 IJESRT INTERNATIONAL JOURNAL OF ENGINEERING SCIENCES & RESEARCH TECHNOLOGY 8TH NOVEMBER 2016 DEMONETIZATION - THE RISE OF ELECTRONIC PAYMENT SYSTEMS Praboju Shirisha* *MBA, M.A English, TS&AP- SET, Academic Consultant & HOD, Dept. of Business Management, Palamuru University PG Centre, Kollapur, Nagarkurnool Dist. DOI: 10.5281/zenodo.1130911 ABSTRACT On 8 November 2016, the total world came to know that the Prime Minister Mr. Narendra Modi announced the demonetization in an unscheduled live televised address at 20:00 (IST) on 8 November the demonetization of Rs.500 and Rs.1000 banknotes would be invalid, and announced the issuance of new Rs.500 and Rs.2000 banknotes of New Series in exchange for the old banknotes with a deadline for exchange and the problem evolved for physical cash availability that became an issue and its impact is felt by every Indian citizen. As majority i.e. 78% of consumer payments in India are made in cash and most of the currencies used were Rs.500 and Rs.1000 for transactions, and to overcome this problem Government of India found out various regulatory and infrastructural reforms to create a favorable atmosphere for electronic payment systems. This paper focuses on the study of providing a comprehensive overview of overall development of Electronic payment systems impact, challenges and outcomes. KEYWORDS: Demonetization, cashless payment, mobile banking, e-payments, Digitalization. I. INTRODUCTION Indian economy until Demonetization was maximum dependant on cash. The currency notes are prevailing in the Indian economies which were used to spend and save money.
    [Show full text]
  • India Digital Financial Inclusion | Journey Map Report | Mstar Project
    This document was written under the Mobile Solutions Technical Assistance and Research (mSTAR) project, United States Agency for International Development Cooperative Agreement No. AID-OAA-A-12-0073. The content and views expressed in this publication do not necessarily reflect the views of United States Agency for International Development or the United States Government. ii India Digital Financial Inclusion | Journey Map Report | mSTAR Project Table of Contents Acronyms v Executive summary 1 India’s digital financial inclusion journey 1 The role of digital payments in expanding financial inclusion 2 Recommendations 3 Introduction 4 SECTION 1: India’s Digital Financial Services Journey 6 1.1 Growth in Digital Financial Services (DFS) Since 2014 6 1.2 Government Initiatives Since 2014 7 1.2.1 Jan Dhan Yojana 7 1.2.2 Direct Benefit Transfers (DBT) and Government-to-Person (G2P) payments 8 1.2.3 RuPay 9 1.2.4 Account Dormancy 9 1.2.5 Aadhaar and the India Stack 10 1.2.6 Unified Payments Interface (UPI) 11 1.2.7 Demonetization and GST 13 1.2.8 Developments in the Policy and Regulatory Framework 15 1.2.9 Licensing of New Tiers of Banking Institutions 16 1.3 Industry Initiatives 17 1.3.1 Payments Banks 17 1.3.2 Microfinance and Small Finance Banks 18 1.3.3 Fintech 19 1.3.4 Expansion of Smartphones and Internet 20 1.3.5 International Technology Companies 21 1.4 Development Sector Initiatives 21 1.4.1 Supporting Innovation 21 1.4.2 Supporting Infrastructure for the Last Mile 22 1.4.3 Making DFS More Inclusive 22 SECTION 2: Understanding Digital
    [Show full text]
  • December 2020
    Visit: www.civilstaphimachal.com For Any Query Mail us: [email protected] or call us at - (+91)-7814622609 1 Contents National News ............................................................................................................................................................ 16 1.1 ‘Ramayan Cruise Service’ to be launched in Ayodhya, Uttar Pradesh ....................................................... 16 1.2 Shri Dharmendra Pradhan launches world-class premium grade Petrol- XP100 ....................................... 16 1.3 Shri Dharmendra Pradhan inaugurates MNGL’s 100th CNG station .......................................................... 17 1.4 IIT-Ropar & IIT Alumni Council partners to set up Global Centre of Excellence ......................................... 17 1.5 Nagaland celebrates Hornbill Festival 2020 ............................................................................................... 17 1.6 Oman issues directive to establish Oman-India Friendship Association .................................................... 17 1.7 Shri Dharmendra Pradhan launches India’s first mobile CNG dispensing unit .......................................... 17 1.8 Bengaluru to host India’s first AI-enabled conversational digital persona ................................................ 17 1.9 RIL tops Fortune 500 list of Indian companies ........................................................................................... 17 1.10 India signs MoU with USA on Intellectual Property cooperation ..............................................................
    [Show full text]
  • Portfolio Holdings Listing Fidelity Blue Chip Growth K6 Fund As of July 30
    Portfolio Holdings Listing Fidelity Blue Chip Growth K6 Fund DUMMY as of July 30, 2021 The portfolio holdings listing (listing) provides information on a fund’s investments as of the date indicated. Top 10 holdings information (top 10 holdings) is also provided for certain equity and high income funds. The listing and top 10 holdings are not part of a fund’s annual/semiannual report or Form N-Q and have not been audited. The information provided in this listing and top 10 holdings may differ from a fund’s holdings disclosed in its annual/semiannual report and Form N-Q as follows, where applicable: With certain exceptions, the listing and top 10 holdings provide information on the direct holdings of a fund as well as a fund’s pro rata share of any securities and other investments held indirectly through investment in underlying non- money market Fidelity Central Funds. A fund’s pro rata share of the underlying holdings of any investment in high income and floating rate central funds is provided at a fund’s fiscal quarter end. For certain funds, direct holdings in high income or convertible securities are presented at a fund’s fiscal quarter end and are presented collectively for other periods. For the annual/semiannual report, a fund’s investments include trades executed through the end of the last business day of the period. This listing and the top 10 holdings include trades executed through the end of the prior business day. The listing includes any investment in derivative instruments, and excludes the value of any cash collateral held for securities on loan and a fund’s net other assets.
    [Show full text]
  • Digital Payments: on Track to a Less-Cash Future
    06 November 2019 SECTOR UPDATE INDIA INTERNET Digital Payments: On track to a less-cash future Digital Investment focus Key enablers - transactions to to shift from Payment gateways; reach USD 41tn wallets to other QR; POS by FY25 payment modes 6 November 2019 SECTOR UPDATE INDIA | INTERNET TABLE OF CONTENTS Prince Poddar [email protected] 03 Introduction Tel: (91 22) 62241879 04 Focus Charts 06 Fintech – attracting investments from global VCs Swapnil Potdukhe [email protected] 07 Payments industry in India Tel: (91 22) 62241876 09 Landscaping the digital payments industry 10 Sizing the digital payments market Pankaj Kapoor [email protected] 12 Digital payment infrastructure Tel: (91 22) 66303089 14 Pay-modes which enable digital payments 15 Business economics for digital payments enablers 17 Future of digital payments: Key themes • Evolving use-cases in digital payments • Positioning of payment gateway aggregators • POS deployment – government’s digital agenda • POS penetration to aid higher card transactions • UPI to lead the growth in digital payments • Will wallets be able to survive the onslaught of UPI? 26 Government’s smart initiatives for digital payments 28 Survey – online survey on digital payments 29 Funding of payments intermediaries in India 33 How are digital payments faring globally? 35 Takeaways from management meetings 36 Company Profiles 60 Appendix JM Financial Research is also available on: Bloomberg - JMFR <GO>, • How have the digital payments evolved in India? Thomson Publisher & Reuters • How card transaction processing works? S&P Capital IQ and FactSet and Visible Alpha Please see Appendix I at the end of this report for Important Disclosures and Disclaimers and Research Analyst Certification.
    [Show full text]
  • Market Updates and Recent Legal Developments in India
    FinTech Newsletter | J a n u a r y 1 6 , 2020 - A p r i l 30, 2020 MARKET UPDATES AND RECENT LEGAL DEVELOPMENTS IN INDIA Despite the global market slow-down owing to the recent outbreak of the COVID-19 pandemic, the Indian fin-tech sector has done exceedingly well this past quarter. The continued investments in this space are important for a developing economy to augment pan-India financial integration and inclusion. In addition to developing innovative products to cater to marginalised sections of the population, fin-tech enterprises have also been increasingly bundling their services with banks to rely on the latter’s distribution and strong payment networks. This shows the evolving relationship between banks and fin-tech entities, which is no longer just competitive, but is also focused on leveraging synergies. The social distancing measures being encouraged because of the pandemic have led to a significant increase in the number of users transacting on digital payment applications and using online banking services. According to the Global Real-Time Payments Report released by ACI Worldwide1 (“ACI Worldwide Report”), more people, governments and businesses are embracing digital payments in this crisis. Reports indicate that fin-tech applications and several banks have witnessed more than double the usual registrations for their online services during this period of social distancing.2 This transition is likely to change the overall behavioural pattern of users in the Indian economy, with more people continuing to use and trust digital financial services once the crisis is over as well, resulting in long term benefits for the fin-tech industry.
    [Show full text]
  • Payments Insights. Opinions. Volume 21
    Venture capital transaction overview Q3 2020 02 #payments VC tracker Venture capital Date Volume Funding Target Market Round Investor(s) Segment Description announced (US$m) (US$m) 1 01–07–20 Curv United States A 23.00 29.50 Commerz Ventures Alternative Develops a cloud-based wallet for payment storing and protecting digital assets. systems 2 01–07–20 Point Up Inc. United States A 10.5 12.70 Valar Ventures Issuing Provides card issuing and digital lending services for consumers. 3 01–07–20 Weifang Smart China B 2.84 2.84 Payment Designs and manufactures payment Yoke Network Mainland acceptance processing equipment for oil Technology Co., devices + stations. Ltd. Software 4 01–07–20 Creator Cash United Seed 4.00 4.00 Artis Capital Other Offers a suite of financial services, States Management, such as savings accounts, debit cards, L.P. and more to social media creators. 5 05–07–20 Spotii DMCC United Arab Seed – – Daman Alternative Develops a payment platform that Emirates Investments payment enables customers to make online PSC systems purchases and make payment in four equal installments. 6 06–07–20 Pair Finance Germany Venture 2.26 7.57 Other Provides digital debt collection services. 7 06–07–20 PAYFAZZ Indonesia B 53.00 127.10 B Capital Group, Alternative Owns and operates an online Insignia Ventures payment payment wallet. Partners systems 8 07–07–20 Thyngs United N/D 0.20 1.30 Payment Develops contactless payment Kingdom acceptance technology that connects buyers, devices + sellers, and brands. Software 9 07–07–20 Verestro Poland N/D – 1.00 Mastercard Alternative Offers payment solutions, which (formerly Upaid) payment includes digital wallet, NFC systems contactless payments, P2P transfers, QR payment, card management, and payment services.
    [Show full text]
  • Pulse of Fintech H1 2020
    Pulse of Fintech H1 2020 September 2020 home.kpmg/fintechpulse Welcome message Welcome to the H1’20 edition of Pulse of Fintech, a The increasing use of digital financial services models will KPMG Fintech professionals include biannual report showcasing major activities and trends likely also spur investments in ancillary areas, such as partners and staff in over 50 fintech hubs within the fintech market globally and in key regions fraud prevention, digital identity management and around the world, working closely with around the world. cybersecurity. financial institutions, digital banks and fintech companies to help them H1’20 was unlike any time period ever seen before. The We discuss these trends and other issues in this edition understand the signals of change, identify rapid emergence of COVID-19 was a major black swan of the Pulse of Fintech. We also address a number of key the growth opportunities and develop and event, sending ripples throughout public markets and questions relating to the fintech market today, including: execute their strategic plans. driving changes in customer and business behaviors on — How could regulation enhance cryptocurrency an unprecedented scale. Given the pandemic, it’s no investment? Ian Pollari surprise that deals activity ground almost to a halt, with Global Co-Leader of Fintech, many of the completed deals in H1’20 hangover from — Why is payments such a hot ticket for VC investors KPMG International, 2019. globally? Partner and National-Sector Leader, Banking, Fintech investments during H1’20 put a spotlight on long- — How is the wealthtech sector evolving to become KPMG Australia term trends, including the growing importance of APIs more digital? and open data and the blurring of lines between fintech, — Why could regtech see increasing investment? Anton Ruddenklau big tech and platform providers.
    [Show full text]
  • U.S. General Purpose Cards Earthport, a U.K.-Based Provider of Cross-Border Payments, Including Settlement and Foreign Exchange Services for Banks, Outstandings Vs
    FOR 48 YEARS, THE LEADING PUBLICATION COVERING PAYMENT SYSTEMS WORLDWIDE JANUARY 2019 / ISSUE 1145 Visa Wants B2B Cross-Border Payments Company Visa has offered to pay $252 million (£198 million) to buy U.S. General Purpose Cards Earthport, a U.K.-based provider of cross-border payments, including settlement and foreign exchange services for banks, Outstandings vs. > see p. 9 Purchase Volume Bl. 5,674 Card Transactions Projected Worldwide Global brand general purpose payment cards are projected to generate 882.08 billion purchase transactions in 2027, up 198.4% 4,326 versus 2017. These card-present and card-not-present purchase > see p. 11 PURCHASE Self-Sovereign Identity Using DLT VOLUME Distributed ledger technology (DLT) permits replication, sharing, 2,831 and synchronization of digital data across multiple sites, countries, and/or institutions. And it can operate without any central > see p. 8 1,870 Pine Labs Merchant Services 1,578 Pine Labs’ cloud-based services platform connects to 100,000 merchants in India that operate 330,000 POS terminals. The 1,072 terminals operate on reduced functionality. They simply route 584 1,328 > see p. 6 310 1,071 IATA Financial Services 733 711 801 579 The International Air Transport Association (IATA), the trade 374 186 organization of 290 airlines worldwide representing more than OUTSTANDINGS 80% of all air traffic, processed $480 billion in payments last ‘90 ‘95 ‘00 ‘05 ‘10 ‘15 ‘20 ‘25 > see p. 10 © 2019 The Nilson Report Fingopay Vein ID Biometric Authentication Credit Card Outstandings in the U.S. When illuminated by near-infrared light, the patterns found inside any human’s veinsPosted are more with unique permission than their fingerprints.from the Publisher Credit of card The debt (outstandingNilson Report receivables) has been the villain in In addition, they are never impacted by degradation over time American financial services for so long it can be difficult to > see p.
    [Show full text]
  • Validated Payment Applications
    List of PABP Validated Payment Applications Last Revised: February 2012* The following List of PABP Validated Payment Applications have been assessed for compliance with the Payment Application Best Practices (PABP). Only those versions of the application identified in the listing below have been evaluated and determined to comply with PABP. Compliance with the PABP is determined based upon data and information developed by an evaluation of the application by a Qualified Payment Application Security Company (QPASC). Although Visa reviews the QPASC-developed data and information, Visa does not independently confirm such data or information nor does Visa perform any tests or analysis of the functionality, performance or suitability of any of the applications and/or products listed. Visa makes no endorsement or recommendation of applications or products, or of their respective developers or distributors. Furthermore, Visa makes no warranties, guarantees or representations that any of the applications or products will meet your requirements for performance or functionality, that the applications or products will be free from errors or malicious code, or that the applications or products will be compatible with any other systems or applications. Any and all representations or warranties, including any and all representations and warranties made by the payment application vendor, are disclaimed by Visa. The information provided herein is provided “AS IS” with no warranties, expressed or implied, including, but not limited to, the implied warranties
    [Show full text]
  • India Digital Financial Inclusion: Journey Map Report
    This document was written under the Mobile Solutions Technical Assistance and Research (mSTAR) project, United States Agency for International Development Cooperative Agreement No. AID-OAA-A-12-0073. The content and views expressed in this publication do not necessarily reflect the views of United States Agency for International Development or the United States Government. ii India Digital Financial Inclusion | Journey Map Report | mSTAR Project Table of Contents Acronyms v Executive summary 1 India’s digital financial inclusion journey 1 The role of digital payments in expanding financial inclusion 2 Recommendations 3 Introduction 4 SECTION 1: India’s Digital Financial Services Journey 6 1.1 Growth in Digital Financial Services (DFS) Since 2014 6 1.2 Government Initiatives Since 2014 7 1.2.1 Jan Dhan Yojana 7 1.2.2 Direct Benefit Transfers (DBT) and Government-to-Person (G2P) payments 8 1.2.3 RuPay 9 1.2.4 Account Dormancy 9 1.2.5 Aadhaar and the India Stack 10 1.2.6 Unified Payments Interface (UPI) 11 1.2.7 Demonetization and GST 13 1.2.8 Developments in the Policy and Regulatory Framework 15 1.2.9 Licensing of New Tiers of Banking Institutions 16 1.3 Industry Initiatives 17 1.3.1 Payments Banks 17 1.3.2 Microfinance and Small Finance Banks 18 1.3.3 Fintech 19 1.3.4 Expansion of Smartphones and Internet 20 1.3.5 International Technology Companies 21 1.4 Development Sector Initiatives 21 1.4.1 Supporting Innovation 21 1.4.2 Supporting Infrastructure for the Last Mile 22 1.4.3 Making DFS More Inclusive 22 SECTION 2: Understanding Digital
    [Show full text]