MASTERCARD AND PAYNETICS PRESENT THE NEW MDES WALLET PHYRE

The first digital wallet in Bulgaria which offers digitization of payments and loyalty cards, between-users payments and access to commercial offers! Are you tired of carrying multiple cards in your wallet? Since we were, we decided to create an application to solve the issue. The product is already on the market and his name is Phyre. But what does Phyre represent? It is a certified mobile device that allows the…

Should Banks Collaborate (Not Compete) With FinTech Startups?

When digitally native financial services and next generation FinTech first emerged as legitimate contenders to incumbent banks, battle lines were understandably drawn. You couldn’t attend a banking conference for several years without hearing the expression “FinTech’s intention is to eat your lunch” seemingly on repeat. Fast forward to 2018, and the atmosphere has undoubtedly changed somewhat. Whilst neither party is completely at ease with the other’s position, there is much…

Biometrics and Future Expectations

Advancements in biometric identification management technology are moving so fast, it is tough to predict just how much it will potentially change the world we live in. Biometrics are fundamentally changing identification management in a host of industries and governmental entities. There is no question that biometrics now touch virtually every  corner of the world to improve security, but what is perhaps most fascinating is the benefits biometrics have established…

RegTech – FinTech’s Little Brother

With mobile apps, banking automation and blockchain already transforming financial services, financial institutions are now looking to regulation technology, or RegTech, to meet compliance requirements. The financial services industry has seen explosive growth in what has become known as FinTech (Financial Technology).  As regulatory requirements increase, a more specific set of technologies – known broadly as RegTech (Regulatory Technology)—is helping financial services firms comply with new rules.   Like FinTech, RegTech…

6 Benefits of Having a Merchant Account

In today’s digital world, it is hard to believe that a big part of the small businesses still does not accept credit cards. Cash may be the most commonly accepted form of payment for small business owners, but the benefits of accepting credit card transactions outweigh the cons. If you are thinking about starting a business or expanding your current payment options, accepting credit cards is an excellent way to…

Digital Wallet: Why It Matters?

We will soon be forgetting the famous faces on the banknote bills. Get up to speed up the future: The Digital Wallet What is a digital wallet? It is an account we set up with a service provider that digitally mimics our physical wallet. Apart from money, it could contain information associated with our credit cards, bank accounts and loyalty cards. Some digital wallet services for example also let us…

Future of Financial Services Delivery and Role of FinTech Start-ups

Customer demand is shaping the future of financial services delivery and fundamentally changing traditional business models. The battle for the customer is now top of every organizations agenda. Today’s customers expect timely and tailored products and services and the competition across financial services delivery is fierce. To meet this expectation, new ways of engaging with customers are erupting onto the street from start-up firms and big technology businesses. New approaches like…

Key Drivers in Cross Border E-Commerce

„Physical retail will still exist, but it will need a good reason to exist” – Dunkin’ Brands Online moves into the real world The Cross-Border E-Commerce The Internet allows consumers to shop online globally, purchasing products and services that may be unavailable or prohibitively expensive in their home countries from websites in other countries and from marketplaces that host multinational merchants. This phenomenon, known as cross-border e-commerce or international e-commerce,…

Does Next Generation Virtual Payments Platforms Will Transform Card Payments?

Today, consumers are experiencing an explosion of choice when it comes to how they shop, pay, interact and conduct commerce. Every day, new financial and commerce solutions are introduced with a promise to simplify and improve customers’ lives, and change how fundamental aspects of banking, retail commerce and commercial transactions take place. We already know that people are using less physical cash and that this trend is only going to…