UK Consortium to Examine Digital Currencies

UK Consortium to Examine Digital Currencies

In today’s news from Europe, the Middle East and Africa (EMEA), a cross-industry consortium in the U.K. has launched to study the future of digital currencies, and has enhanced its authentication tool for merchants. Enhances Authentication Tool to Reduce Abandoned Carts

Cloud-based payments service provider on Wednesday (Aug. 17) announced updates to its authentication product to help merchants combat fraud and optimize their revenues.

The latest enhancements to’s authentication solution comes as 25% of eCommerce companies around the world are experiencing a significant rise in fraud and chargebacks, the company said in a press release.

It allows merchants to take complete control of their customer journeys to deploy either rules-based or dynamic machine-learning (ML) authentication strategies. The new tool can be used with third-party payment gateways, or as part of the complete product stack.

National Bank of Kuwait Wants to Promote Mobile Banking

The National Bank of Kuwait (NBK) is letting customers update their mobile numbers through its banking app or website using their new Virgin Mobile numbers.

The move is designed to offer customers a better banking experience and simplify their transactions, according to a news release. The NBK recently added Virgin Mobile, a popular provider among its customers, to its list of telecom operators.

The bank wants customers to update their data and provide it with new emails and phone numbers so that NBK can send customers SMS, push notifications and promotional messages about its latest campaigns and offers.

UK Cross-Industry Consortium to Focus on Future of Digital Currencies

A new cross-industry group called the Digital Financial Market Infrastructure (DFMI) Consortium has launched in the U.K. to focus on consulting and experimenting with alternative payment rails.

The DFMI consortium is a U.K.-based cross-industry collective of financial institutions, including commercial banks, payment providers, telecommunications providers, FinTechs, NFT ecosytems and digital currency exchanges.

The group’s focus will be on consulting and experimenting with alternative payment rails. The DFMI consortium’s flagship initiative, Project New Era is set to begin piloting its Digital Sterling (dSterling) this fall.

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About: The findings in PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed the responses from 9,904 consumers in Australia, Germany, the U.K. and the U.S. and showed strong demand for a single multifunctional super apps rather than using dozens of individuals ones.

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