FinTech

Embedded finance is changing the fintech landscape, with B2B providers selling white-label solutions to businesses. But should companies build their fintech services or outsource? Time, regulations, budget, and expertise are key factors to consider.

Prioritising sustainability is crucial for businesses due to the Earth's finite resources. Adopting eco-friendly practices into daily operations can help. Strategies include bundle orders, conserving energy, embracing remote work and reducing and recycling.

The Payment Card Industry Data Security Standard (PCI DSS) is crucial for safeguarding customer data and avoiding potential penalties. This step-by-step guide offers businesses an effective approach to achieving PCI DSS compliance and maintaining a secure environment.

NFC technology has been around for nearly 70 years and has become a staple in payment technology, operating on a wide range of mobile devices. NFC enables short-range communication between two devices, and recent shifts in payment regulations have also allowed smartphones to receive payments.

Payment processing is a complex flow involving various players, including cardholders, merchants, acquirers, credit card associations, and issuing banks. The process can be broken down into three steps: authorisation, settlement, and funding.

Technological advancements have transformed payment processes, with Mobile Point of Sale (mPOS) systems significantly speeding up transactions. However, SoftPOS, a more accessible and cost-effective solution, can dramatically alter how small businesses and micro-entrepreneurs handle payments.

Merchants seek secure transactions, high commissions, and low costs for their POS machines. Three typical desires are a free device, low transactional fees, and quick settlement. But beware of the costs associated with free devices.

Fintech firms, unburdened by legacy systems, offer lower fees and better user experiences than traditional banks struggling to keep pace with innovation.

Ruben Raul Diaz Silva, an ICT expert, discusses the adoption of contactless payment in Latin America with Kosta Du. The conversation highlights the challenges and opportunities presented by the region's diverse ecosystem and the future of contactless payments.

The V72 Wireless POS Machine by Aisino is an affordable and simple alternative to traditional POS devices. Its features, including a colour display, camera, sim card slots, and long battery life, make it an attractive payment device for small businesses.

Mastercard's plan to phase out magnetic stripes on cards by 2033 reflects the growing trend towards contactless payments. With chip-based cards offering greater security and biometric options, the move appears set to benefit all.