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India-based digital payments app Paytm has partnered with private sector financial institution Axis Bank to support settlement of merchant payments.
partnership, payments , banking, KYC, settlement
India-based digital payments app Paytm has engaged in talks to acquire Bengaluru-based interoperable ecommerce startup Bitsila.
acquisition, digital payments, ecommerce, payments
The government of Venezuela has ended the Petro (PTR) cryptocurrency, founded in 2018 to support the nation’s currency due to an overwhelming economic crisis.
cryptocurrency, cryptocurrency exchange, financial sanctions, digital assets
Financial technology company PayPal has announced its commitment to modify its terms and conditions in order to fully comply with the European Union’s consumer laws.
compliance, regulation, regulatory sandbox, fraud management, Transparency Directive
Fraud management solution provider Cleafy has raised EUR 10 million in United Ventures funding.
fraud management, fraud detection, fraud prevention, online banking, funding
The Strawhecker Group (TSG) has announced the launch of TruMonitor, a SaaS product and component of the company’s Global Experience Monitoring (GEM) platform.
fintech, payment gateway, payment processing, transaction monitoring
Switzerland-based neobank Relio has received a fintech license from the Swiss Financial Market Supervisory Authority (FINMA) and must now wait for the approval of the supervisory authority to go live.
banking license, fintech, product launch, expansion, banking
Hybrid data company Cloudera has partnered Buy Now, Pay Later (BNPL) provider Afterpay to enable the latter to reduce fraud risk and manage data at scale.
partnership, risk management, fraud detection, fraud management, data analytics, data protection, machine learning, BNPL, financial data, transactions
Italy’s antitrust agency has penalised online fashion retailer Yoox Net-A-Porter (YNAP) with USD 5.69 million over misleading pricing and its returns policy.
ecommerce, regulation, retail, online shopping, fraud prevention
Amazon has announced it plans to roll out a TikTok-like feed in its ecommerce app, in a bid to attract new shoppers through photos and videos from influencers.
Amazon, ecommerce, marketplace, social commerce, product upgrade
France’s fraud authority has announced it would fine ecommerce company Amazon USD 3.4 million for its slowness in updating contracts with third-party sellers.
Amazon, ecommerce, compliance, marketplace
CBA has launched the PowerBoard ecommerce solution to merchants deploy their ecommerce offerings and provide access to various payment methods.
ecommerce, payment methods, product launch, banks
The Paypers explores regulatory trends in Europe and the UK and the potential regtech unicorns and IDV kings that enable fintechs/banks to build effective compliance programmes and manage fraud.
identity verification, regtech, digital identity, financial crime, fraud prevention, cryptocurrency, KYC, artificial intelligence
Australia-based Commonwealth Bank (CBA) has introduced new AI-based technology to detect suspicious and unusual behaviour on its digital banking platforms.
scam, artificial intelligence, fraud management, fraud detection, online fraud, financial crime
China has fined Tenpay, an online-payment unit of Tencent Holdings, USD 438,000 for violating foreign exchange rules amid growing regulatory scrutiny of the nation’s fintech industry.
WeChat Pay, regulation, banks, financial services
With regulators focusing on fighting financial crime, by bringing more accountability and transparency with more stringency on KYC, Verity Snelson from Encompass shares what lessons can be learned from the past
KYC, financial crime, regulation, money laundering, fintech
Jackie Wheeler, Senior Director of AML Content at Jumio, shares what are the five key elements of a robust AML compliance program
AML, Jumio, compliance, risk management
Bottomline Technologies, real-time payments, fraud detection, financial institutions, fraud prevention
Cryptocurrency trading platform Margex has teamed up with OpenMonet to offer decentralised cryptocurrency payment options on its platform.
cryptocurrency, P2P, cryptocurrency exchange, artificial intelligence
Hungary, EU, European Union, procurement, fraud, systemic fraud, European Commission, data accessibility, structural funds