Our monthly news roundup collects headlines in payments and fintech to watch, giving leaders across industries (or fintech enthusiasts) a quick glance at some of the news in the space. In Flywire’s 12+ years in delivering the most complex, high value payments, we’ve had a unique opportunity to work with many different organizations in the fintech and payments ecosystem. We’ve seen changes in how clients get paid, how their customers want to pay and how central the payments experience has become – not just across the industries we focus on, but every industry.
Here are some of the fintech and payments headlines from May 2024.
Headlines:
Seasons of Fraud: How Fraud Patterns Shift Throughout the Year - Payments Journal
In a recent podcast, NeuroID’s Head of Operational Strategy and Javelin Strategy & Research’s Director of Fraud & Security discussed the seasonality of fraud including methods criminals use and solutions to keep businesses safe.
Barclays issues monthly 'Scams Bulletin' - FinExtra
Adding to the security discussion, Barclay’s new bulletin monitors claims across all Barclays personal and business accounts to help consumers spot and stop scams at the source, and protect their funds.
17 Quick Notes on Healthcare - Becker’s Hospital Review
This article is a rapid-fire view from two reporters on the key operational, leadership and management challenges and opportunities in healthcare today.
Japan On Sale: Why It’s Summer’s Big Travel Bargain - Forbes
Right now, a trip to many countries in Asia is easier on the wallet than in recent years. That is especially true in Japan where (at the time of this Forbes article) one U.S. dollar buys 156.36 yen, 15% more than one year ago, and 43% more than five years ago.
SMBs are increasingly opting for real-time payments, leaving credit cards behind as their preferred choice - TearSheet
As healthcare provider businesses increasingly integrate instant payments, two notable factors are shaping the adoption and usage of real-time payment rails across the healthcare sector.
From Flywire:
Flywire improves efficiency and cash flow for higher education institutions with expanded availability of third-party invoicing solution
The new offering streamlines the payment experience for third-party sponsors paying a student’s tuition and fees. As a result, institutions around the world can reduce their administrative burden, ease reconciliation, and increase their revenues.
3 themes in treasury and payments from Windy City Summit 2024
Wilson Harmond, Payments Growth Manager at Flywire details three key takeaways from the Windy City Summit 2024 in Chicago, attended by treasurers and payments professionals
5 things to consider before adding more payment choices for international students
On a recent Flywire webcast titled “The Paradox of Payment Choice,” higher education leaders discussed how they weigh the risks and benefits when it comes to payment choice.
3 takeaways for SaaS companies from SaaStock 2024
Several members of the Flywire team had the opportunity to attend the annual conference in Austin, Texas in mid-May. We had a few key takeaways we wanted to share.
3 things for Ambulatory Surgical Centers to know from ASCA 2024
The Ambulatory Surgery Center Association (ASCA) plays an important role in helping ensure ASCs are equipped to deliver the best possible care while managing their operations effectively. The organization’s good work was on display last month at its annual conference in Orlando. Several members of Flywire’s healthcare team attended and a few things stood out.
With the South Korean government aiming to attract 300,000 international students to the country by 2027, the partnership provides an easy way for international students to pay application and tuition fees.
Integrating payment software: 3 tactics to ensure a smooth student financial journey
Finance leaders must collaborate effectively with their IT counterparts to deliver a smooth financial journey to students. Flywire CTO David King, Sara Rosenberger, Accounts & Loan Coordinator and Chair of the Financial Wellness Advisory Group at Reed College, Oregon, and Capri Harston, former University Bursar at Tennessee State University discussed how that works best at the 2024 Ellucian LIVE conference.
Report of the Month:
Payment Trends 2024 - Citizens Bank
A new survey of 202 C-suite executives at mid-size companies ($50M-$1B in annual rev.) explores what payment types are gaining ground and how organizations continue to adapt to the shifting payment technology landscape.
Stats of the Month:
B2B Version - Fit Small Business
- B2B payments continue to grow: The global B2B payments market is expected to reach $241.8 trillion by 2031.
- Paper checks still make up 16.2% of local B2B payments in the U.S.
- 92% of B2Bs are digitizing their payment solutions
Word of the Month:
Agglomeration - Workers and the companies that employ them tend to cluster in the same cities. Economists call it agglomeration. That's how cities become hubs for particular industries, like tech in San Francisco/Silicon Valley, finance in New York and fashion in Paris.
Conversation Starter:
Independent booksellers are making a comeback in the U.S. - More than 200 new stores opened in 2023. Another 190 are expected in the next two years.