Banking & payment certification bodies: What, why & how?

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The global digital payment market is expected to reach $236.10 billion by 2028. With much of this growth attributed to the emergence of new technologies, those looking to capitalize on the growth of digital might not know where to start.

With the global digital payments market set to be worth some $8,059.3 billion by 2023 , at a CAGR of 20%, payments are undergoing a rapid period of growth and transformation.

New payment methods, such as real-time payments, initiatives such as open banking, and technologies like as biometrics, all contribute to a constantly evolving ecosystem. The potential for innovation and optimization is clear.

But if this value is to be realized, players must first ensure the security and interoperability of new products and technologies. A robust certification process is one way to achieve this.

The Japanese payments market has long been something of a paradox. On the one hand, Japan boasts the third-largest economy in the world and is a culture synonymous with high-tech and innovation.

After several months of research, 16 banks representing 5 European countries (Belgium, France, Germany, the Netherlands and Spain) approved the official launch of a new European payment scheme called the European Payments Initiative (EPI) on July 2nd 2020. In this series, we explore the purpose of the initiative and how it plans to achieve its ambitious goals.

In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.

As None [1] data breaches continue to rise globally, protecting the integrity of customer data (especially in the payments world) is vital. One essential security standard helping keep such data sec...

As None [1] data breaches continue to rise globally, protecting the integrity of customer data (especially in the payments world) is vital. One essential security standard helping keep such data sec...

In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.

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