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 Checkout.com has enhanced its authentication tool for merchants.
Cloud-based payments service provider Checkout.com on Wednesday (Aug. 17) announced updates to its authentication product to help merchants combat fraud and optimize their revenues.
The latest enhancements to Checkout.com’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 Checkout.com product stack.
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.
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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