Our monthly news roundup collects some of the 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 10+ 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.
Headlines
Mastercard adds open-banking partners as it preps for CFPB rules – American Banker
In October the card network announced partnerships involving merchant services firm FIS, buy now/pay later lender Zip, JPMorgan Chase and Verizon. The announcements coincide with the release of new rules from the Consumer Financial Protection Bureau which aim to give consumers more control over their data and restrict how third parties use customer information.
JPMorgan: Treasurers Embrace ‘Digital as a Culture’ Amid Market Disruptions – PYMNTS.com
The collapse of SVB and Signature Bank put the treasury function back in the spotlight with a renewed emphasis on cash flow, liquidity and risk management. Headed into the new year, sharp and nimble treasury management is essential to the well-being of any firm.
Late Payments Push 64% of CFOs to Modernize Accounts Receivables – PYMNTS.com
The “B2B and Digital Payments Tracker®” examines the growing need to automate A/R and why the ongoing problem of late payments may be just the wake-up call organizations need to prioritize B2B payments modernization.
Finance Chiefs Take Measured Approach to Using Real-Time Payments - The Wall Street Journal
Cost, widespread access to the infrastructure and investment are some of the reasons US finance leaders are cautiously approaching real-time payment rails like FedNow.
Taking The Pulse of U.S. Cross-Border Payments: Lessons For A Year of Change - Forbes
Reflecting on two major payments events, FXC Intelligence’s Daniel Webber captures the excitement and opportunity around cross-border payments.
From Flywire
The route to travel growth: 3 takeaways from WTM London
Sustainable travel, authentic experiences, and conversations around how to best leverage AI were all the buzz at the recent WTM conference.
Perspectives on higher education payments from students in Canada
Students in Canada would like to use payment plans to manage their tuition, but offerings at their institutions often fall short.
Perspectives on higher education payments from students in the U.S.
Students in the US want to know as soon as they receive their offer letters what their flexible payment options are.
International receivables roadmap: 5 opportunities for global health insurers in 2024 and how to get there
It’s a complex environment, but also one full of opportunity. Where can international health insurers look to bring more value to their businesses and customers in 2024?
9 takeaways from AFP 2023
Flywire joined thousands of treasury and finance practitioners, banks, and vendors in San Diego in late October at the AFP 2023 conference. Here are nine important things we took away from the show.
Lessons in higher ed payment security: Six tips from the University of Washington to help institutions achieve PCI DSS compliance
The institution has an innovative approach to payment security, and has overcome challenges stemming from a decentralized campus and approach to decision making.
Q&A: Balancing Human Touch With Automation in the Travel Payments Experience
Skift spoke with Colin Smyth, VP and General Manager of Travel at Flywire, about the importance of providing a human touch throughout the travel booking journey, the role payments play in ensuring elevated luxury travel experiences, and how the payment experience can be enhanced to deliver the connected trip of the future.
Bursars, finance are taking a leading role in driving better student outcomes. Here’s how.
Sharon Butler, EVP, Global Education at Flywire, had the chance to participate in two recent events with other industry leaders to discuss education affordability, enrollment and better student outcomes.
How to solve payment and data compliance challenges across complex industries
Flywire CTO David King shares his take on the compliance steps that are unsung when it comes to innovation.
Stat of the Month
37% – the percentage of all 2022 breaches that involved card data, underscoring the importance of PCI compliance.
Report of the Month
Payments 2025 and beyond - PWC
PWC writes on the macroeconomic trends affecting the future of payments, and how the increase in cashless payments will foster inclusion globally, including where the uptake will continue to be fastest.
Word of the Month
Micropayment. Forrester predicts that the small value payment structure – by which, for instance, consumers could pay online to access a single article instead of a subscription – could be big in 2024 if bank-based payments gain more traction.
Conversation Starter
The 16 Best Tech Gifts for Any Gadget Lover - The New York Times
From portable chargers to connected bird (squirrel) feeders, there’s something for every tech geek on your list.