Tag: payment

13
Oct
2020
Posted in software

Insights on Third-Party Banking Software Market within the Application Software Sector | Growing Use of Digital Payment Solutions to Emerge as a Key Driver | Technavio

LONDON–(BUSINESS WIRE)–The global third-party banking software market is expected to grow at a CAGR of over 8% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.

Learn more about how COVID-19 is impacting the third-party banking software market – Request a free sample report

Many organizations are expanding their business in new geographies and acquiring new customers. The growth in the customer base has increased the number of online transactions, which has increased the demand for digital payment solutions. In addition, the rising number of customers seeking help with financial decisions and investments is contributing to the growth of the global third-party banking software market.

Third-Party Banking Software Market: COVID-19 Impact Analysis on Related Markets

Global Islamic Banking Software Market 2020-2024

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Global Loan Servicing Software Market 2020-2024

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Global Personal Finance Software Market 2020-2024

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Third-Party Banking Software Market: COVID-19 Impact Analysis on Parent Market

The global application software market is the parent market of the third-party banking software market. Within its scope, the application software market covers companies that are engaged in developing and producing software designed for specialized applications for the business or consumer market. It includes enterprise and technical software, as well as cloud-based software. Our report on the third-party banking software market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market including FIS, Fiserv, Infosys, Oracle, and Temenos Headquarters.

Technavio’s research report on the third-party banking software market identifies

11
Oct
2020
Posted in technology

When Your Last $166 Vanishes: ‘Fast Fraud’ Surges on Payment Apps

Charee Mobley, who teaches middle school in Fort Worth, Texas, had just $166 to get herself and her 17-year-old daughter through the last two weeks of August.

But that money disappeared when Ms. Mobley, 37, ran into an issue with Square’s Cash App, an instant payments app that she was using in the coronavirus pandemic to pay her bills and do her banking.

After seeing an errant online shopping charge on her Cash App, Ms. Mobley called what she thought was a help line for it. But the line had been set up by someone who asked her to download some software, which then took control of the app and drained her account.

“I didn’t have gas money and I couldn’t pay my daughter’s senior dues,” Ms. Mobley said. “We basically just had to stick it out until I got paid the following week.”

In the pandemic, people have flocked to instant payment apps like Cash App, PayPal’s Venmo and Zelle as they have wanted to avoid retail bank branches and online commerce has become more ingrained. To encourage that shift, the payment apps have added services like debit cards and routing numbers so that they work more like traditional banks.

But many people are unaware of how vulnerable they can be to losses when they use these services in place of banks. Payment apps have long had fraud rates that are three to four times higher than traditional payment methods such as credit and debit cards, according to data from the security firms Sift and Chargeback Gurus.

The fraud appears to have surged in recent months as more people use the apps. At Venmo, daily users have grown by 26 percent since last year, while the number of customer reviews mentioning the words fraud or scam has risen nearly

07
Oct
2020
Posted in technology

NIC Secures New Contracts in Florida and Iowa for Payment Processing and Digital Government Solutions

Digital government solutions firm NIC Inc. has won new multi-year contracts with the states of Florida and Iowa following competitive bid processes.

“We are excited by the confidence Florida and Iowa have placed in NIC solutions as we continue to expand our payment processing and digital government services across the country,” said Harry Herington, NIC CEO and Chairman of the Board. “These wins further reinforce the momentum NIC has experienced in 2020.”

In Florida, NIC has been awarded a contract to provide transaction-funded payment processing services for all state agencies. The five-year transaction-funded contract, which may be extended by up to five additional years, also provides the ability for cities and municipalities to work with NIC for payment processing services, promoting a comprehensive and seamless financial transaction experience for Florida citizens and businesses.

For its fiscal year ended June 2018, the state of Florida processed 74 million transactions for a total of $52 billion in payments across 19 state agencies and processed 21 million transactions for a total of more than $1 billion across more than 90 localities.

In Iowa, NIC will once again serve as the state’s enterprise digital government solutions partner after a 15-year partnership concluded in 2017. Under the new five-year transaction-funded contract, which includes five one-year renewal options, NIC’s Des Moines-based team will work with state leadership to consolidate digital services into a unified experience for all Iowans.

“We are very excited for our digital solutions partnership with NIC in Iowa, first starting with payment processing services,” said Annette Dunn, Iowa’s Chief Information Officer. “We have many large agencies across the state that can benefit not only from a strategic, streamlined approach to payment processing but also from the many digital solutions NIC provides. These solutions happen to align perfectly with Governor Reynolds’ vision for the

06
Oct
2020
Posted in software

BuyerQuest Adds Payment Processing Module, BuyerQuest Pay, to Procure-to-Pay Software Suite

The new module makes BuyerQuest a one-stop-shop for corporate procurement

The BuyerQuest Pay module, as part of the Procure-to-Pay suite, offers users a seamless payment experience.

BuyerQuest Pay provides users the flexibility to develop payment agreements, process highly secure payments efficiently, and manage cash flow on their own terms.
BuyerQuest Pay provides users the flexibility to develop payment agreements, process highly secure payments efficiently, and manage cash flow on their own terms.
BuyerQuest Pay provides users the flexibility to develop payment agreements, process highly secure payments efficiently, and manage cash flow on their own terms.

CLEVELAND, Oct. 06, 2020 (GLOBE NEWSWIRE) — BuyerQuest, a recognized leader in enterprise Procure-to-Pay software, announces the launch of the BuyerQuest Pay module, a fully integrated payment processing system in the Procure-to-Pay suite.

The BuyerQuest Pay module, as part of the broader Procure-to-Pay suite, maintains the same industry-leading intuitive user experience that customers have come to expect from BuyerQuest. The straightforward but powerful payment tool is compatible with any ERP or workflow, offering users deep insights into direct and indirect spend transparency and advanced intelligence capabilities.

With the addition of Pay, BuyerQuest users benefit from a fully automated AP experience, from the selection of goods and purchasing compliance through payment processing, all in one modern, user-friendly platform.

“The lion’s share of the automation associated with Procure-to-Pay falls within the Procure-to-Invoice processes. That said, digitizing the ‘Pay’ component of Procure-to-Pay is critical to unlocking material financial value,” says Jack Mulloy, CEO of BuyerQuest. “Through BuyerQuest Pay, our customers digitize the payment process and provide impactful financial flexibility to their supply bases.”

BuyerQuest Pay enables accounts payable monetization for mid-sized to enterprise businesses. Buyers have the ability to negotiate discounts or longer payment terms with suppliers for purchases; providing businesses with improved cash flow. BuyerQuest Pay offers highly secure and efficient payment options including Automated Clearinghouse funds transfer (ACH), foreign exchange, virtual credit cards, and ghost cards.

Automated

01
Oct
2020
Posted in software

RapidAI Among the First Stroke Imaging Companies with Software Approved for Medicare New Technology Add-on Payment

Stroke Imaging Makes Significant Stride in Reimbursement. Helps U.S. Hospitals More Easily Adopt the Latest Advancements in Stroke Care

RapidAI, the worldwide leader in advanced imaging for stroke, today announced Rapid LVO is among the first software products to qualify for the New Technology Add-on Payment (NTAP). NTAP is part of the CMS Inpatient Prospective Payment System (IPPS). A significant advancement in stroke care and reimbursement for Medicare patients, the news further fuels the expansion of advanced stroke imaging for those technologies that meet the NTAP requirements, foremost Rapid LVO from RapidAI.

The new NTAP program applies to LVO triage and notification for stroke. Rapid LVO explicitly meets the definition of measuring arterial blood flow in the brain per the issued NTAP code definition. RapidAI offers the most comprehensive stroke imaging platform available. Once an LVO (Large Vessel Occlusion) is identified, Rapid ASPECTS can quantify the severity of the stroke, and Rapid CTP or Rapid MRI can then notify a stroke team if a patient is eligible for thrombectomy.

“Our mission can be simply stated…save lives, save time and save money,” said Don Listwin, CEO of RapidAI. “This exciting new development in Medicare reimbursement may at first seem like just a bookkeeping issue or just a win for RapidAI, the industry leader. However, in truth, this is not a step forward for any one company, but instead an advancement for various software technologies with the end goals of saving more lives and enabling better patient outcomes.”

RapidAI makes the most-widely used stroke imaging software for patient care, research, and clinical trials—helping hospitals around the world save time, money, and lives. Rapid is the only clinically validated platform available and considered by many to be the gold standard for advanced cerebrovascular imaging.

To learn more visit www.RapidAI.com.

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