Connect with us

Payments

Computop provides merchants with card scheme tokens

Avatar

Published

on

Computop, a leading global payment processor, has today announced that its payment platform, Computop Paygate, is now making Card Scheme Tokens, issued by major card brands, available to its merchants.

The use of tokens makes online card payments for European merchants safer and more convenient: by storing tokens, they can anchor card information in the customer account without risk, saving their customers the hassle of entering data.

In the tokenisation process, security-relevant data, for example the card number (PAN), is replaced by non-critical data that is unusable for data thieves. The aim of the card tokens is to keep the visible card number out of online payment transactions as much as possible.

The Computop-enabled Card Scheme Tokens encrypt other features such as the expiry date or the cardholder’s name. In addition, device binding is checked and a unique cryptogram is generated for each new payment transaction. Because the tokens are generated individually for the shops, misuse for other payment transactions is not possible.

With the introduction of the Card Scheme Token, Computop is complementing its pseudo card number (PKN) already introduced in the early 2000s to further strengthen the security of online card payments. Later in the year, the company also plans to issue Scheme Tokens as a white label service to banks and payment service providers. For this purpose, Computop was the first German PSP to receive approval as a token service provider for the two major card brands Visa and Mastercard

About Computop – The Payment People
As one of the very first payment service providers, Computop offers its customers around the world local and innovative omnichannel solutions for payment processing and fraud prevention. The Computop Paygate payment platform enables seamless integrated payment processes for e-commerce, at POS and on mobile devices. With this internally developed software, retailers and service providers have the flexibility and freedom to choose from over 350 payment methods enabling them to specifically tailor their payment options per country. Technologies such as biometric authentication and self-learning algorithms improve security and convenience for retailers and consumers alike.

Computop, a global player with its head office in Germany and locations in China, England and the USA, has been servicing large international companies in the service, retail, mobility, gaming and travel industries for more than 20 years. These companies include global brands such as Bigpoint, C&A, Fossil, the entire Otto Group, Sixt and Swarovski. Computop also provides it payment system to banks and financial service providers as a white-label solution. Through its customer network and collaboration with the global marketplace Rakuten, Computop processes commercial payment transactions for more than 16,000 retailers annually, with a combined value of USD 34 billion. With its individual and secure solutions, Computop makes a major contribution to the future of international payment processing.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.finextra.com/pressarticle/87364/computop-provides-merchants-with-card-scheme-tokens?utm_medium=rssfinextra&utm_source=finextrafeed

Blockchain

You can now buy luxury condos with Dogecoin (DOGE) and Cardano (ADA) in Portugal

Swiss crypto payments processor FNTX Capital Suisse has teamed up with Portuguese property developer 355 Developments, allowing customers to buy luxury condos with Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH), and Cardano (ADA), it said in a release today.

The post You can now buy luxury condos with Dogecoin (DOGE) and Cardano (ADA) in Portugal appeared first on CryptoSlate.

Avatar

Published

on

Swiss crypto payments processor FNTX Capital Suisse has teamed up with Portuguese property developer 355 Developments, allowing customers to buy luxury condos with Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH), and Cardano (ADA), it said in a release today.

“The company’s custody, escrow, stablecoins, crypto exchange, fiat settlements, and AML/KYC solutions will streamline real estate operations and expand investment options for developers and investors,” the announcement said.

Real estate for joke currency

The partnership now allows customers to buy real estate in the Portuguese city of Lisbon in a streamlined fashion via FNTX’s Real Estate Exchange. The platform also tracks the prices of supported cryptos in real-time.

“What ultimately takes place now will say a lot about the future of both the property business, the world’s largest asset class, and blockchain industry,” said FNTX founder David Rabbi.

Per the announcement, FNTX now hopes that its partnership 355 Developments and other “top tier residential projects” will “complete the business circle that refines the way people market, search for, buy, sell and invest in properties.”

At the same time, while DOGE and its rapidly emerging knock-offs have been turning a lot of heads lately thanks to their insane price rally, the firms pointed out that cryptocurrencies are still a risky and volatile proposition. Therefore, “some crypto investors may choose to diversify into real estate.”

As CryptoSlate reported, Tesla and SpaceX CEO Elon Musk, perhaps the most famous “DOGE memer” in the world, has launched a Twitter poll earlier this week, asking his 52 million followers if they would like an option to pay for electric cars with DOGE. Turns out, yes, they would.

At the same time, however, Tesla has announced that it’s suspending Bitcoin payments due to environmental concerns.

The move has sparked criticism from many in the crypto industry. Some say concerns about Bitcoin’s environmental impact are vastly overblown, while others criticize Tesla’s seemingly inadequate research on the subject. But hopeful condo owners are not complaining, for now.

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Like what you see? Subscribe for updates.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptoslate.com/you-can-now-buy-luxury-condos-with-dogecoin-doge-and-cardano-ada-in-portugal/

Continue Reading

Payments

In a Tumultuous Year for Auto Insurance, Customers Seek Better Value

Avatar

Published

on

Latest customer survey findings on auto insurance trends during the last year show largely similar after-effects in most world regions. In the US, a JD Power 2021 Insurance Shopping Study revealed that the pandemic caused a 55% decrease in number of miles driven, inducing auto insurance customers to shop around for more personalized and cheaper policies. The Confused.com Car Insurance Price Index in association with Willis Towers Watson revealed that comprehensive car insurance premiums in UK fell by 14% since the first quarter of 2020, the biggest annual drop since 2014.

LexisNexis Risk Solutions, which aggregates annual market data about driving behaviors, auto insurance shopping, underwriting and claims to help insurance carriers better understand shifting landscapes, in its 2021 U.S. Auto Insurance Trends Report, noted that auto insurance shopping data trends stayed turbulent throughout 2020. In certain African economies, insurance premiums were reported to have dropped to six-year lows as vehicles sat idle with drivers staying at home following Covid-19 movement restrictions.

The pandemic resulted in mid-term and renewal auto insurance shopping going for a rollercoaster ride. As various states began to issue shutdown orders, shopping declined initially and later rebounded when stimulus checks reached bank accounts of customers. As cities began to gradually reopen, shopping continued to take an upward trend, but dropped again during periods of civil and social unrest during summer and severe weather events. For those whose finances were adversely affected by the pandemic, a 6% rise in shopping activity was reported.

A notable insight from the J.D. Power survey was that while auto insurance customers shopped around more fervently than ever before, incumbents lead with higher gains. While insurtechs like Metromile and Root grew on the back of their data-driven policy pricing, incumbents wrested an even bigger market share. The past year alone witnessed a 3% year-over-year increase in auto insurance customer migration to the five biggest insurers, as incumbents dealt with customers’ pandemic distress as well as insurtechs did. The marketplace was found to be increasingly differentiated more so by price, underscoring the need for carriers to bring innovative customer solutions.

Liberty Mutual, for instance, offered blanket premium refunds and reductions to customers who drove less during the pandemic, where insurtechs like Metromile publicized their pay-per-mile offerings for discounted pricing. State Farm’s usage-based insurance offering, Drive Safe & Save, let customers earn discounts up to 50%, just as Metromile customers saved 47% on average via telematics capabilities.

On the claims side, empty roadways engendered dangerous driving with a significant increase in speeding first observed in mid-March 2020 that stayed 10% higher than 2019 figures for the rest of 2020. Driving under the influence (DUI) violations rose among younger drivers, with a near 50% increase in recorded violations in March-April. Collision claims reduced, but severity rose to a 3.7% year-over-year increase in 2020.

The pandemic saw insurance companies quickly adapting and implementing virtual car insurance claims, setting the path to contactless claims handling. Auto insurance claims dropped by nearly a quarter since the pandemic. With fewer claims, carriers were able to refine their customer experience. The results are still coming in, but the feedback has been positive. Customers who said they “definitely will” renew with their current insurer were higher: 76% during the pandemic versus 72% before.

While digital claims are becoming more mainstream, results show a large number of customers still seek quality customer service without adopting digital tools or want to supplement digital tools with personal interaction. Customers who did not use digital claims tools also experienced a similar level of customer satisfaction. When it comes to claims handling expectations, there seems to be a healthy appetite for both digital tools with artificial intelligence and good old fashioned guidance from real persons. Auto insurance customers want flexible options on how they communicate with their insurers.

Cover Image

You get 3 free articles on Daily Fintech. After that you will need to become a member for just US$143 a year (= $0.39 per day) and get all our fresh content and our archives and participate in our forum.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://dailyfintech.com/2021/05/13/in-a-tumultuous-year-for-auto-insurance-customers-seek-better-value/

Continue Reading

Crowdfunding

Hong Kong based Digital Bank livi Is Offering New BNPL Product with a Mastercard Virtual Debit Card

Avatar

Published

on

livi bank, which is notably one of Hong Kong’s eight digital banks, is now offering a Buy Now, Pay Later (BNPL) service with the introduction of livi PayLater that provides an instant installment option along with a virtual Mastercard debit card.

The livi PayLater BNPL solution comes with automatic installments and flexible repayment periods ranging from 3 to 36 months. The pay-over-time option is available for transactions valued at HKD 100 (and the approved credit limit).

livi’s management noted that clients are able to get approval within seconds with a quick application process and transparent monthly fees.

Clients will receive a handling fee waiver for up to 3 months on livi PayLater transactions. They’ll have the option to pay back their installment spending in full so that they are not charged any extra fees.

By having the virtual livi PayLater Mastercard debit card and being able to add it to their digital wallets, clients are able to make convenient purchases online and at in-store locations as well.

Transactions performed with the card get split into more manageable installments during the repayment period selected by the client, with no additional applications needed.

Clients can then conveniently manage their installment spending via the livi banking app.

Livi bank’s latest announcement has come when the BNPL sector in Southeast Asia has become quite crowded with major competitors such as Grab, GoJek, Razer and Oriente taking part in this new trend.

Carol Hung, Chief Product Officer at livi bank, stated:

“Consumers in Hong Kong are in constant search for smarter, more flexible payment options that meet their daily spending needs. livi’s existing payment products offer great convenience to our customers, but we didn’t stop there. With livi PayLater, our customers not only benefit from one of the most competitive instalment financing offers in Hong Kong, they also have the capacity to gain greater control of their spending and create the financial flexibility to help them to live life to the full.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175255-hong-kong-based-digital-bank-livi-is-offering-new-bnpl-product-with-a-mastercard-virtual-debit-card/

Continue Reading

Fintech

The FinTech Report podcast – Episode 3: interview with Paul Harapin, Stripe

Avatar

Published

on

Paul Harapin, Head of Growth, Asia Pacific, Stripe:

Paul Harapin is the Revenue Growth Lead for Asia-Pacific at Stripe, one of Silicon Valley’s most successful startups, recently valued at $112B (AUD). Paul has a wealth of experience in the technology sector, having started and scaled various companies across the Asian region over almost 30 years, which include VMware and Tivoli Systems, two of the most successful software companies in history. Now at Stripe, Paul works closely with customers including Atlassian, Canva and Culture Amp; so he knows a thing or two about scaling Australian businesses to reach a global audience.

The FinTech Report podcast: www.fintechsummit.com.au/the-fintech-report-podcast/

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://australianfintech.com.au/the-fintech-report-podcast-episode-3-interview-with-paul-harapin-stripe/

Continue Reading
Aviation4 days ago

JetBlue Hits Back At Eastern Airlines On Ecuador Flights

Cyber Security5 days ago

Cybersecurity Degrees in Massachusetts — Your Guide to Choosing a School

Blockchain4 days ago

“Privacy is a ‘Privilege’ that Users Ought to Cherish”: Elena Nadoliksi

AI2 days ago

Build a cognitive search and a health knowledge graph using AWS AI services

Cyber Security5 days ago

Cybersecurity Degrees in Texas — Your Guide to Choosing a School

Blockchain1 day ago

Meme Coins Craze Attracting Money Behind Fall of Bitcoin

Energy3 days ago

ONE Gas to Participate in American Gas Association Financial Forum

Esports3 days ago

Pokémon Go Special Weekend announced, features global partners like Verizon, 7-Eleven Mexico, and Yoshinoya

Fintech3 days ago

Credit Karma Launches Instant Karma Rewards

Blockchain4 days ago

Opimas estimates that over US$190 billion worth of Bitcoin is currently at risk due to subpar safekeeping

SaaS4 days ago

Blockchain11 hours ago

Shiba Inu: Know How to Buy the New Dogecoin Rival

Esports2 days ago

Valve launches Supporters Clubs, allows fans to directly support Dota Pro Circuit teams

SaaS4 days ago

Blockchain4 days ago

Yieldly announces IDO

Esports4 days ago

5 Best Mid Laners in League of Legends Patch 11.10

Cyber Security3 days ago

Top Tips On Why And How To Get A Cyber Security Degree ?

Blockchain1 day ago

Sentiment Flippening: Why This Bitcoin Expert Doesn’t Own Ethereum

SaaS4 days ago

Blockchain4 days ago

Decentraland Price Prediction 2021-2025: MANA $25 by the End of 2025

Trending