Fernando Estevez Vazquez

Portugal's fintech startups are in good hands. The Pay it Forward podcast is back and this time we get an insight into the Fintech scene in Portugal with Mariana Gorjão Henriques from Portugal Fintech, who shares their mission to bridge the gap between fintech startups and regulators. We find out the history of this important organisation and Portugal's attractiveness as a fintech hub. The conversation also uncovers different facets of the fintech ecosystem here and we get some region focused consumer and e-commerce trends. Be sure to tune into this podcast to find out about all this and much more. https://lnkd.in/eMrNG7Pj payabl. #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Today, BHMI announced that Payshop, part of the CTT Group, has expanded its use of the Concourse Financial Software Suite to meet its back office payments processing needs. Payshop serves clients with a broad range of payment services. Based in Portugal, the company allows users to pay for various services, including utility bills, tolls, and mobile top-ups, at post office branches and through a network of retail agents in diverse commercial establishments nationwide. Concourse was originally selected by Payshop to perform the back-office processing for SIBS payments and Single European Payments Area (SEPA) transactions. Concourse’s support of the #ISO20022 message format is enabling Payshop to successfully process these transactions and enhance the efficiency of cross-border payments. “Since the flexibility provided by Concourse allows Payshop to configure virtually any payment service, we are expanding the use of Concourse across our full portfolio of services including utility bills, mobile top-ups, public transport ticketing, money orders, and toll payments,” said Tiago Mota, CEO of Payshop. “We originally selected Concourse because it was ideal for our omni-channel processing needs and we are pleased to say that it continues to support our strategic objectives and continued growth.” “We are delighted that Payshop is expanding the use of Concourse for back office processing across all their digital and retail payment channels,” said Lynne Baldwin, President of BHMI. “This further validates that Concourse is highly flexible with the configurability and scalability to meet the needs of all transaction types, ensuring leading payments companies like Payshop can meet their payment processing needs for any type of payment.” The full press release can be found on Business Wire at https://lnkd.in/gTQsv77u #CTT #SEPA #payments #paymentsindustry #paymentsprocessing #paymentprocessing #paymentsinnovation #fintech #fintechnews #paymentsnews #paytech #paytechnews #crossborderpayments

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The regulatory framework for #payments in the upcoming #Brazil betting sector were outlined this week, covering #creditcards, #crypto and #instantpayments. https://lnkd.in/ed7cuD-N

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Our approach to finance combines tradition with cutting-edge technology. We offer unique solutions that will elevate your business and personal finances to a new level. 🏦 From fast international transfers to advanced cryptocurrency operations - Iberbanco is always one step ahead! 💡 #Iberbanco #FinancialInnovation #BankingServices #FinTech #Cryptocurrency #InternationalBanking #Innovation #FinancialFlexibility

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This is how we closed our first #EBAday in Lisbon talking innovation in #Payments and #DigitalTransformation. We contributed to fruitful discussions about #CBDC and cloud-based managed services and today #AI in payments will be on the agenda for us. #PaymentsInnovation #TransactionBanking #HSBC

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N26 Welcomes Complete BaFin Growth Restriction Lift From 1 June 2024 Valentin Stalf, CEO of N26: “We are pleased about the trust of our regulators and will continue our close exchange in the future. In recent years, we have been able to make significant progress in preventing and combating money laundering and financial crime.” https://lnkd.in/e9_MtJjJ Maximilian Tayenthal #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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"We can solve customer refunds with A2A payments." In the first of our conversations from payabl.'s Pay It Forward booth at Merchant Payments Ecosystem, we spoke to Margarida Rodrigues, Head of Payments at SONAE, to find out more about the payments customer experience. Rodrigues comments on the changes happening to the checkout, both in store and online. We also find out how they decide who to partner with on payments and get her thoughts on some of the changes happening across Europe, from the growth of digital wallets to the impact account to account payments could have on customer loyalty. Be sure to keep an eye out for more interesting conversations with leading brands coming soon. https://lnkd.in/eY8AhYaR #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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🔍 Transforming the Financial Sector: The EU Digital Identity Wallet 🔍 The EU Digital Identity Wallet is set to revolutionize the financial sector, and banks are uniquely positioned to provide trusted identity wallets. To succeed, banks need to start preparing. Missed our live webinar? Don't worry! You can now watch the Nets-hosted session where top industry experts Kristian T. Sørensen, Oscar Santolalla and Viky Manaila explore the transformative impact of the EUDI Wallet on European financial institutions and discuss how banks can prepare for these changes. 👉 Watch the webinar recording here: https://lnkd.in/dcCJ537A #EUDIWallet #EUDIframework #DigitalIdentity #eIDSolutions #eIDAS2.0

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#EBAday is coming to Lisbon on 18-19 June 2024. Instant Payments remains a hot topic for the industry. Expert speakers will deep dive into the subject considering questions such as: What remain the main challenges for banks in the adoption of instant payments? Which fraud-fighting solutions are there? Which role does confirmation of payee play? Register to join us and learn more https://lnkd.in/dNWeufb #EBAday #Finextra #EBA_Association #nextgenbanking #CBDCs #crossborderpayments #BaaS #realtimepayments #openfinance #identity #fraud #fraudprevention #liquiditymanagement #cashmanagement #fintech #regulation #intantpayments #paymentsasaservice #requesttopay #embeddedfinance  

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🥇 Klarna has compiled an Open Banking league table of European countries. The aim was to determine “which countries and which banks are the best and which are the worst at giving access to payment services”. Find out which country has topped the ranking at the 🔗 Daniel Greaves #openbanking #europe #payments #openfinance #datasharing #financialdata #paymentinnovation #paymentproviders #banks https://lnkd.in/e7TwTb85

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European Mobile Payments: A Fragmented Landscape What is hard to miss is the fact that the European mobile #payment environment cannot be described as some form of a coherent system, let alone a unified one. Let's delve deeper with some #data points: - Fragmentation Reigns Supreme: There are over 45 domestic mobile payment options in #Europe, alongside international giants like #ApplePay and #GooglePay. This fragmentation creates a challenge for both consumers and businesses. - Nordics Lead the Charge: #Denmark, #Finland, #Norway, and #Sweden, the countries of the #Nordic area, have the highest mobile payment usage rate in the European Union countries which is higher than 80%. - EMV Stands Strong: The chip-and-PIN technology (#EMV) is still in use throughout the entire European territory and therefore serves as a challenge to mobile payments to fully replace traditional payments. But as for the case of mobile wallets, the ease and security that the service provides are gradually encouraging the transition. - The EPI: A Pan-European Dream? The European Payments Initiative (EPI) aspires to create a unified mobile payment system across Europe. Launched in 2021, its success depends on broad bank and consumer adoption. The Future of Mobile Payments in Europe: Three main scenarios are predicted for the future of European mobile payments: 1. Single European Solution: The #EPI rises to power as the most influential element of the structure and establishes harmony in the system. 2. Multi-Country Clusters: Regional clusters of existing systems form, with some level of interoperability. 3. Continued Fragmentation: The current fragmented landscape persists, with international #wallets and local solutions co-existing. Thank you Arkwright Consulting Resource: https://lnkd.in/gV9DfrW7 # #mobilewallets #fintech #paymentsinnovation #EMV #cashlesssociety

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European Mobile Payments: A Fragmented Landscape What is hard to miss is the fact that the European mobile #payment environment cannot be described as some form of a coherent system, let alone a unified one. Let's delve deeper with some #data points: - Fragmentation Reigns Supreme: There are over 45 domestic mobile payment options in #Europe, alongside international giants like #ApplePay and #GooglePay. This fragmentation creates a challenge for both consumers and businesses. - Nordics Lead the Charge: #Denmark, #Finland, #Norway, and #Sweden, the countries of the #Nordic area, have the highest mobile payment usage rate in the European Union countries which is higher than 80%. - EMV Stands Strong: The chip-and-PIN technology (#EMV) is still in use throughout the entire European territory and therefore serves as a challenge to mobile payments to fully replace traditional payments. But as for the case of mobile wallets, the ease and security that the service provides are gradually encouraging the transition. - The EPI: A Pan-European Dream? The European Payments Initiative (EPI) aspires to create a unified mobile payment system across Europe. Launched in 2021, its success depends on broad bank and consumer adoption. The Future of Mobile Payments in Europe: Three main scenarios are predicted for the future of European mobile payments: 1. Single European Solution: The #EPI rises to power as the most influential element of the structure and establishes harmony in the system. 2. Multi-Country Clusters: Regional clusters of existing systems form, with some level of interoperability. 3. Continued Fragmentation: The current fragmented landscape persists, with international #wallets and local solutions co-existing. Thank you Arkwright Consulting Resource: https://lnkd.in/gV9DfrW7 # #mobilewallets #fintech #paymentsinnovation #EMV #cashlesssociety

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EPI’s Wero Wallet Launch & MUFG’s Investment The European Payments Initiative (EPI) has launched the Wero wallet in Germany, enabling instant account-to-account payments via banking apps for Sparkassen, Volksbanken, and Raiffeisenbanken customers. Deutsche Bank will introduce Wero later this year, starting with Postbank. 🌍 By the end of July, KBC customers in Belgium will gain access, with France following in the Autumn. EPI, backed initially by 31 major Eurozone banks, aims to rival Mastercard and Visa by offering a comprehensive digital wallet, P2P payments, and more. 🏦 Despite setbacks with member departures, EPI acquired the Dutch payment scheme iDeal and Luxembourg’s Payconiq to support Wero. Future expansions include paying small professionals, online merchants, and in-store payments. CEO Martina Weimert emphasises Wero’s goal to simplify and secure all payment types through a single wallet. 💼 Meanwhile, MUFG and the Finnoventure Private Equity Trust I fund have invested $195 million in Thai fintech unicorn Ascend Money. 💰 Ascend Money, part of the Charoen Pokphand Group, operates the TrueMoney super app, offering services like e-payment, lending, BNPL, investment, and insurance. 🌐 With a strong Southeast Asian presence and 30 million active users in Thailand, Ascend Money is positioned for significant growth. MUFG’s Yasushi Itagaki highlights the strategic investment in digital finance in Asia Pacific. Ascend Money founder Suphachai Chearavanont sees this funding round as pivotal for creating an inclusive financial ecosystem and accelerating digital transformation. 🚀 #Fintech #DigitalPayments #EPI #AscendMoney #Investment #FinancialServices 📈 See: https://bit.ly/4cM7eQX #ascendmoney #bnpl #crowdfunding #digitalpayments #ewallet #epi #fintech #investment #mufg #p2ppayments #southeastasia #werowallet

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Industry News: The European Commission’s regulation on instant payments The European Parliament has officially adopted the much-anticipated legislation text on Euro Instant Payments. This milestone marks a significant leap forward in streamlining payment processes across the Eurozone. Sylq highlighted for you the major points of the adopted text : 🟪 Mandatory Support for SEPA Instant Payments: Banks, payment, and electronic institutions are now obligated to facilitate both receiving and sending SEPA instant payments effective 2024 and 2025 respectively. 🟪 Pricing Equality: Instant payments must not be charged at a higher price than regular payments, ensuring fairness and accessibility for all. 🟪 Enhanced Security Measures: Changes in sanction screening obligations and the introduction of mandatory IBAN-name verification at payment initiation will bolster security and mitigate risks. The adoption of this text sets forth a definitive enforcement timeline and provides clarity on implementation requirements, including: 🟪 Batch Instant Payment Orders: Batch instant payment orders will be allowed and mandatory for institutions handling regular payment batches. 🟪 Real-time Payment Processing: Institutions must have systems capable of straight-through processing and real-time payment tracking for both sending and receiving instant payments. 🟪 Customer-defined Limits: Implementation of customer-defined limits and instant payment amounts in core systems will ensure flexibility and control for users. These regulatory developments will remove one of the major barriers to mass adoption of Bank to Bank (AKA Open Banking) payment transactions online and in store, thus creating a true alternative to traditional card based payment methods for consumers. As we navigate these changes, Sylq is here to support merchants with the adoption of new secure and easy to use payment methods.  #Sylq #PayByBank #Euro #Payments #InstantPayments #Fintech #Innovation  #Security #Legal

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TAS LINK SUBMITTED APRIL TOTALS ISSUING Mastercard continues to play a leading role in the structure of payment systems with 56.7% (-0.5% in April) vs 43.2% for VISA (+0.5% in April) and 0.1% for PROSTIR. During April the number of transactions by issued payment cards decreased by -1% (against +2% growth in March) with a simultaneous decrease in the average check by -2%. ACQURING In April TAS Link clients continued to actively expand their acquiring network. As in the previous month the number of trading POS terminals increased by +10% (+21% since the beginning of 2024). The number of acquiring transactions in April remained unchanged compared to March. The decrease in the number of P2P transactions (-7%) was compensated by the growth of POS and E-com purchases (+3% and +4% respectively). E-COMMERCE In the E-com segment we also observe a slowdown in the dynamics of the number of transactions: -1% in April compared to +8% in March. Purchase transactions almost managed to compensate for the decrease in C2A and A2C transactions. In the structure of payment methods we continue to note a gradual decrease in the share of local card-on-files and manual card inputs: 63.2% (-1.2% in April) against the share of electronic wallets: 27.4% in Apple Pay (+0.8 %) and 9.4% in G-Pay (+0.4%). Full version: https://lnkd.in/e3TQ5xNV

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The payments in the EU are about to change, and PSD3 is at the center of it all. 🌐 It's about to come in effect in the first half of 2025. What does it mean for you as a user of banking system, for the crypto sector and businesses.  PSD3 stands for Payment Services Directive 3. It's a proposed update to regulations on electronic payments and the banking system within the EU.   It means new changes and regulations for:  - Changing contactless payment limits; 📲  - Mandatory info on currency conversion costs before making a transaction;  - Regulating crypto payments and deferred payments (BNPL);  - Expanding open banking to include insurance and investment products;  - Introduction of transfers between accounts (A2A), which will allow you to transfer funds without additional intermediaries, e.g. a payment card. What does it mean for businesses? 💡 Companies that handle electronic payments in the EU will need to comply and introduce changes to how they handle customer data and authorization processes. This involves analyzing data security protocols, customer authorization processes, and agreements with payment providers. Identifying any gaps between current practices and the upcoming requirements is crucial for developing a solid compliance plan.  The goal of PSD3 is to improve the open banking systems. Although while there are clear benefits it also comes with stricter KYC/AML regulations, which some suggest might stifle innovation in the crypto space. There are also people on the other side of the argument, who say it will allow for clearer regulations and establishing more legitimacy within the decentralized currency space. 👨‍💻 This PSD3 directive is also expected to encourage more competition in the payments industry, potentially benefiting individuals by offering a wider range of payment options. This new directive aims to create a more secure, innovative, and competitive payments environment in the EU. It means that businesses that operate in the EU should keep an eye on the changing regulations. As Chabre, we will gladly help you deal with the challenges of implementing this regulation within your company 📈    #psd3 #finance #crypto #banking #payments 

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Finboot Appoints Carles Garcia as Its New Partnerships Lead to Drive European Expansion Juan Miguel Pérez Rosas, CEO and Co-Founder, Finboot says: “Industries like steel, oil and gas produce around 30 per cent of global emissions and use about 37 per cent of global energy. To reach net-zero by 2050, these industries need to significantly cut their carbon footprint. Our MARCO Track & Trace solution simplifies managing sustainability in supply chains and makes it easy to comply with in-coming regulations. “Carles’ appointment strengthens our mission to help industries achieve their sustainability goals. His expertise in sustainability and digital technology is key as we tackle supply chain risks and expand partnerships in Europe. “Europe is leading in the field of sustainability introducing leading edge regulations, like the EU Deforestation Regulation (EUDR), coming into force in December, which aims to reduce greenhouse gas emissions and limit biodiversity loss. “We have recently appointed a strategic Partnerships and Alliances Adviser in the United States – Sunitha Ray – to strengthen our global reach.” https://lnkd.in/dEUX72nS #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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𝐓𝐡𝐞 𝐈𝐧-𝐬𝐭𝐨𝐫𝐞 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦 In 8 Simple Steps: Let's walk through the process of an in-store Payment Transaction: For a payment transaction in-store to take place, a legacy payment process also mostly called Card Present (CP), there needs to be a few players involved: 👉 Issuer 👉 Acquirer 👉 Card Network 👉 ISO / MSP 👉 Merchant 👉 Customer 🔸 𝐒𝐭𝐞𝐩𝐬 0️⃣ - 1️⃣ : The cardholder opens an account in the issuing bank (Wells Fargo, Chase, Bank of America…) and gets the debit/credit card. The merchant registers with ISO - Square (Independent Sales Organization) or MSP - The Transaction Group (Member Service Provider) for in-store sales. ISO/MSP partners with payment processors (Nuvei) to open merchant accounts. 🔸 𝐒𝐭𝐞𝐩𝐬 2️⃣ - 5️⃣ : The acquiring process. The payment gateway (Cybersource, Nuvei, Braintree) accepts the purchase transaction and collects payment information/data. It is then sent to a payment/acquirer processor (who often can be the same as the payment gateway - Nuvei, Fiserv, Elavon, Inc.) which uses customer information to collect payments. The acquiring processor sends the transaction to the card network. It also owns and operates the merchant’s account during settlement, which doesn’t always happen in real-time. 🔸 𝐒𝐭𝐞𝐩𝐬 6️⃣ - 8️⃣ : The issuing process. The issuing processor talks to the card network (Visa, Mastercard, American Express) on the issuing bank’s behalf. It validates and operates the customer’s account. 🔸Once the funds have been credited/deposited, in this case for either debit or credit card transactions, the transaction is finalized ✔️ 𝐒𝐨𝐮𝐫𝐜𝐞: ByteByteGo, Hua Li for the diagram edited by Arthur Bedel 💳 ♻️ Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]

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CHARGEBACK FINES & FEES Chargebacks don’t just entail payment reversals for merchants, but ALSO additional fees levied by acquirers to cover the costs of managing the chargeback process The chargeback fee levied by acquirers or payment service providers (PSPs) typically ranges from $15 to $50 for merchants with an average risk profile. For high-risk merchants, acquirers typically charge higher fees to cover the increased costs and risks associated with maintaining them as clients. ❗️Fees are also charged by the credit card schemes when merchants exceed certain limits for a total number of chargebacks and chargeback ratio. 🔹 For Visa, if a merchant with a regular risk profile exceeds 100 transactions per month with a chargeback ratio greater than 0.9 percent of transactions, they will be placed in the Visa Dispute Monitoring Plan (VDMP) where they will have to pay: - No additional fees in months 1-4 of the program. - $50 per chargeback in months 5-9 of the program. - $50 per chargeback in months 10-12+, plus the merchant will have to pay an additional $25,000 review fee. For merchants labeled high-risk fees are even higher. 🔸For MasterCard, the charges are different from Visa. Merchants are placed in the Excessive Chargeback Merchant (ECM) program when they exceed 100 chargebacks and have a chargeback ratio greater than 1.5 percent for two consecutive months. Fees are as follows: - Month 1 has no fines. - Month 2 has a fine of $1,000. - Month 3 has a fine of $2,000. - Months 4-6 each have a fine of $5,000, plus an additional $5 issuer recovery assessment for every chargeback above 300 per month. - Months 7-11 each have a fine of $25,000, plus an additional $5 issuer recovery assessment for every chargeback above 300 per month. - Months 12-18 each have a fine of $50,000, plus an additional $5 issuer recovery assessment for every chargeback above 300 per month. - Months 19+ each have a fine of $100,000, plus an additional $5 issuer recovery assessment for every chargeback above 300 per month. For high-risk merchants that have over 300 chargebacks per month and a chargeback ratio exceeding 3 percent, the fees lead to $200,000. Aside from the chargeback fees ranging between $15 and $50, there are unforeseen expenses which include: 👥 Customer acquisition costs 🚚 Shipping expenses 📲 Processing fees 💰Labor expenses 💵 Operational expenses ⛔️ Altogether, a $100 chargeback can cost a business over $200. The best way to avoid chargeback fees is by preventing chargebacks. Say goodbye to chargeback headaches and hello to financial peace of mind with Merchanto.org! Join us in protecting your business, reducing chargeback costs, and ensuring a smooth payment experience for you and your customers. Together, we'll safeguard your profits! 💼💪 📩 support@merchanto.org

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