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Weekly News Roundup: 27/10

Welcome to our weekly news roundup, of headlines which caught our eye. We’ll bring you a weekly dose of some of the most interesting titles which have surfaced, with a particular focus on the topics of Visa, tech workshops, UK scams and beyond.
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This week’s roundup will feature titles on UK scams, Visa and tech workshops. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.

  • Visa announces the pilot launch of its Visa AR Manager [source: The Paypers]

Visa’s pilot launch consists of an AR Manager service which is aimed at simplifying and improving virtual card acceptance for merchants and customers. AR is being used more widely to expand offerings, improve services and enhance the capabilities of businesses to boost commercial activity, and it is no different with Visa. In the consumer world, AR can be a valuable asset in addressing pain-points for customers, such as simplifying operational processes, speeding up transaction times and more. – Jovi

  • Metro Bank organises tech workshops for primary school children of London [source: Finextra]

Focusing on areas of deprivation, Metro Banks initiative to run tech workshops is a stride in digital awareness and education. In our ever-evolving digital world where we see advanced technologies growing and more traditional methods of managing finance depleting, there is a greater need for digital and tech education for all ages. By nurturing younger generations, we are setting them up for a wider level of understanding that will give them the tools to not only understand but thrive and participate in our technological future – both as consumers and potentially as their careers. – Jovi

  • UK consumers lost half a billion pounds to scams in the first half of 2023 [source: UK Finance]

We see smarter cyber criminals every day, and with e-commerce spanning its payments across multiple methods to boost convenience – the opportunity for scams is greater. Social media, online platforms, emails, chat apps and more now facilitate payments for purchasing. UK Finance released figures showing that some of the most successful scams were authorised push payments and unauthorised fraud losses. For this reason, there is a far greater need for businesses to invest in greater security measures around payments, and for consumers to be vigilant when making purchases. – Jovi

See you next week, back in the blog for your next weekly news roundup.

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