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Mastercard Receivables Manager launches

Finextra4 days ago
Mastercard is modernizing supplier reconciliation and streamlining virtual card payments with several new enablers.
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Today, it's launching widescale global availability of Mastercard Receivables Manager, its automated solution that makes virtual cards more efficient, secure and cost-effective for businesses to accept. To give payment service providers greater flexibility in how they offer B2B payment innovations, Mastercard is also introducing Commercial Direct Payments, an advanced straight-through processing solution that fully automates virtual card payments and reconciliation.
Together, the expanded offerings deliver a fast, innovative B2B payment experience for both buyers and suppliers at an opportune time when embracing the digitization of commercial payments is increasingly moving from optional to essential. According to a recent global Mastercard survey, 93% of B2B suppliers shared that digitizing payment processes is a top priority for their business, while two thirds still acknowledge regularly falling short of buyer payment expectations.
'Businesses today expect simple, secure, and seamless ways to pay and get paid – with many turning to virtual cards to meet those expectations,' said Marc Pettican, global head of corporate solutions, Mastercard, 'To support our clients wherever they are on their modernization journey, we're thrilled to bring to market another simple path to receivables automation, and to fuel the consumerization of B2B payments around the world in the process.'
Empowering suppliers with enhanced virtual card acceptance
Since its launch just two years ago, Mastercard Receivables Manager has been levelled up with new capabilities such as multi-language and secure card-on-file to support digital commerce around the world. Now available globally, acquiring partners are embracing the innovation to modernize supplier virtual card acceptance experiences across major card networks and help customers strengthen buyer-supplier relationships.
Elavon and Run Payments are among the many innovative payment providers in the United States offering Mastercard Receivables Manager to address manual processing and reconciliation challenges – which some 42% of suppliers across the nation note as top barriers to acceptance.
EazyPay is also one of the first acquiring partners in the Middle East to offer the solution to transform accounts receivable workflows for their customers in Bahrain.
Taking the manual out of Commercial payments
The next wave of B2B payment innovation is here – and many payment service providers are already embracing it. Commercial Direct Payments is a new card network-agnostic solution that powers accounts receivable automation for suppliers, and optimizes digital payment opportunities for buyers increasingly looking to pay by card.
When the buyer initiates a card payment, Commercial Direct Payments enables it to be processed directly with the supplier's acquirer – eliminating all manual steps for making and receiving payments. The funds are automatically deposited into the supplier's account and the detailed remittance data can be seamlessly integrated into the AR workflow. The entire B2B payment process becomes smooth and hassle-free, bringing key benefits to ecosystem players, including:
• Driving supplier efficiency with automated reconciliation: Suppliers can easily reconcile payments using the rich remittance data that can flow directly into their ERP systems, freeing up resources to focus on more strategic tasks.
• Unlocking automated B2B payment processing at scale: Issuers and acquirers can quickly unlock the benefits of straight through processing without the need for multiple costly and time-intensive connections with one another. Commercial Direct Payments streamlines this process by providing a single connection to Mastercard and enabling the flow of secure, standardized payment and remittance data between issuers and acquirers.
• Strengthening buyer-supplier relationships: Buyers have the flexibility to pay with physical or virtual cards to improve cash flow, while suppliers can get paid securely, efficiently, and on time.
Commercial Direct Payments is a global product innovation initially available in the U.S., with Sakon as the first launch customer.
Hear what our enabling partners are saying:
Pari Sawant, Chief Product Officer, Elavon: 'This partnership reflects our dedication to offering a payment processing experience that's empowering suppliers with innovative B2B solutions to thrive in an increasingly fast-paced digital economy. Our customers are reaping the benefits of automated virtual card acceptance – enabling us to sustain strong engagement across our supplier community.'
Rob Nathan, CEO & Co-Founder, Run Payments: 'Mastercard Receivables Manager automates the entire process of accepting virtual cards for our clients — saving them valuable time, dramatically reducing manual work, and unlocking faster, more predictable cash flow while lowering costs. It's another step forward in helping businesses remove friction and focus on what they do best.'
Nayef Tawfiq Al Alawi, founder and CEO, EazyPay: 'Collaborating together with Mastercard, we are aligned on bringing consumer led digital payment experiences to the B2B world. This solution will empower more suppliers to accept virtual cards – modernizing their accounts receivable workflows and unlocking faster, more reliable cash flow in the process.'
Dan Hughes, President, Sakon, Head of AP Copilot: "AP Copilot is proud to be at the forefront of transforming B2B payment experiences. Collaborating with Mastercard to deliver Commercial Direct Payments through our innovative smart payment assistant is a significant step in accelerating and scaling virtual card enabled straight-through processing technology in the U.S., enabling more buyers and suppliers to automate B2B payments while reducing complexity, risk and costs in the process."
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Millions of Brits could get £1,000s in compensation from six lawsuits – from Mastercard fees to loans, can you claim?
Millions of Brits could get £1,000s in compensation from six lawsuits – from Mastercard fees to loans, can you claim?

Scottish Sun

timean hour ago

  • Scottish Sun

Millions of Brits could get £1,000s in compensation from six lawsuits – from Mastercard fees to loans, can you claim?

Read on to find out which lawsuits are ongoing and if you are due compensation RECLAIM YOUR CASH Millions of Brits could get £1,000s in compensation from six lawsuits – from Mastercard fees to loans, can you claim? MILLIONS of Brits could get thousands of pounds in compensation after being overcharged on their loans or bills. Several major collective lawsuits have been launched in the past year and consumers may be able to cash in. 1 You could be in line for compensation from one of these class action lawsuits These legal cases are called class action lawsuits and help to chase compensation for millions of consumers that have been let down by companies. In these cases one person usually takes a company to court on behalf of all consumers. The cases have become popular in the UK after changes introduced in the Consumer Rights Act 2015. The act allowed a new 'opt-out' collective action system in the UK, which lets groups of consumers pursue claims against companies for breaches of competition law, including fixing prices or restricting supply. Scott Dixon, who runs The Complaints Resolver, said: 'Many familiar names including easyJet, VW and M&S have been caught up in these class action claims. 'You may only get a few hundred pounds, but it's power in numbers.' It is worth noting that legal cases can take time to go to trial and pay out customers. If you are affected by a class action lawsuit then you do not need to do anything to get compensation if the claim is successful. We have rounded up the cases that are currently ongoing and those that could lead to you getting your money back. Homeowners hit with 'secret' insurance charges Some 20,000 people who own flats in the UK are taking legal action against the companies that own their apartment blocks. Legal letters claim freeholders - the building owners - took commission fees when they arranged the building insurance. The freeholders were allegedly paid the fees by insurance companies in exchange for buying their products. These were then added to the cost of the buildings insurance by the freeholders or their agents, and the total amount was then charged to the flat owners in the form of service charges without their knowledge, the leaseholders claim. The flat owners believe this was secretly added to the service charges they paid. Collective claims for compensation Lawsuits that result in compensation for many people are often referred to as "class actions". In England and Wales a Group Litigation Order (GLO) is often used for this kind of lawsuit. Collective Proceedings Orders (CPOs) are also used for claims of breaching competition law. Collective action has been made easier under the UK's Consumer Rights Act 2015. It means the courts can treat similar claims as one, rather than having hundreds or even thousands of separate individual claims. There are a number of stages to bringing this kind of lawsuit, including the courts needing to give permission. Both sides can also appeal decisions at various stages making it a lengthy process with no guarantee of a payout. Lawyers have urged Brits to join several other collective claims for compensation in recent years. There is no cost to sign up, but the firm will usually take a cut of any payout if the claim is successful to cover legal costs. There's no guarantee of a payout and collective claims of this type have not yet been fully tested in court. Lawyers have suggested that each flat owner could be awarded up to £3,500 in compensation. They have also suggested that up to 900,000 homeowners who own flats in multi-occupancy blocks could be affected. Velitor Law, the firm taking the class action lawsuit, has written to four of the UK's largest freeholders - E&J Estates, Consensus Business Group, Long Harbour and Ground Rents Income Funds - to recoup the fees. It is expected that around two dozen landlords, who control the leaseholds for close to 900,000 homes, may be subject to the Leaseholder Action claim. The claim seeks to recover a minimum of six years' worth of commissions from landlords. However, lawyers have applied to suspend the usual period of limitation, which in certain cases could see the claim stretch back as far as 1997. Liam Spender, the lawyer at Velitor Law, said: 'This first set of landlords are now on notice of this claim and they are now going to have to answer in court.' The firm said a second tranche of legal letters to landlords will be issued before the end of the year. The Sun has contacted all four freeholders involved for comment. They all deny any wrongdoing. Shoppers overcharged by credit card companies Millions of shoppers are due to receive £70 each after a tribunal approved a settlement in a lawsuit against Mastercard. The verdict came after a long-running legal case dating back almost a decade. The action was brought by Walter Merricks, a former financial ombudsman, who argued that shoppers were charged higher prices after fees were wrongly levied on transactions made between 1992 and 2008. You do not need to have owned a Mastercard at any point to be eligible for compensation. Consumers can claim compensation if they lived in England, Wales or Northern Ireland for at least three months between June 1997 and June 2008. They need to have bought goods or services from UK businesses that accepted Mastercard credit cards. For those who live in Scotland the starting point is May 1992. The settlement is worth £200million and half of this has been ringfenced for consumers, who have until the end of the year to claim. Around 2.5million people are expected to come forward. If this number does make a claim they will each receive £45. But if fewer people apply then the payments will be capped at £70 per person. iPhone users could get share of £3billion lawsuit Consumer group Which? is leading a claim against Apple on behalf of 40million UK customers. The £3billion class action lawsuit claimed the tech giant breached competition law by 'forcing its iCloud services on customers'. It said Apple encouraged users to sign up for an iCloud subscription to store photos, videos and other data, which meant it favoured its own products. Which? argued the company also made it difficult for customers to use other products, which ultimately stifled competition. The consumer group said it is acting on behalf of all UK consumers that used iCloud from October 1, 2015. The first court date in the claim will be heard in the Competition Appeal Tribunal on November 19-21. During the hearing the tribunal will decide whether Which?'s legal claim against Apple is appropriate to go ahead on a 'collective' basis. Energy bill-payers could be due hundreds of pounds A former head of the UK's gas regulator is leading a claim against energy companies on behalf of customers. Clare Spottiswoode has been authorised by the Competition Appeal Tribunal to act as the class representative in the lawsuit, which she hopes will prove that households were overcharged for their energy between 1999 and 2009. The overcharging comes as a result of companies which sold high voltage and underwater electricity cables running a cartel. They were fined for doing this by the European Commission in 2014. Anyone who has paid an energy bill in Britain since 2001 is eligible to be included in the lawsuit. Lawyers hope to recoup hundreds of millions of pounds. Victims of data breaches could get thousands There are several actions against firms that have been negligent by allowing data breaches, which put customer information at risk. Among them is a collective action against Marks & Spencer after its data breach earlier this year. The proceedings are being led by Patrick McGuire, a partner at Thompsons Solicitors, on behalf of Scottish victims of the hack. The hack exposed sensitive customer information and left hundreds of people worried about their online safety. It is unclear how much victims could be entitled to as the case is still in its early stages. Compensation for mis-sold car finance loans Thousands of motorists will get a share of £20billion in compensation for undisclosed broker commission arrangements. The Court of Appeal ruled in October that the firms broke the law by not telling borrowers about the broker commission terms. This is because banks allowed car dealerships and brokers to set their own interest rates on loans. Under these now-banned discretionary commission arrangements (DCAs), dealerships and brokers had a financial incentive to charge higher interest rates, as this would increase their commission. But many customers were not aware of this practice. The case was taken to the Supreme Court, where it was decided that customers will be compensated. Lenders are all now liable to pay out £20billion in compensation. It is not yet clear when customers will begin to receive this compensation, which is likely to be administered through a formal redress scheme. What are class action lawsuits? Lawsuits that result in compensation for many people are often described as 'class action'. In England and Wales, a Group Litigation Order (GLO) is often used for this type of lawsuit. Class action lawsuits have become easier after the Consumer Rights Act 2015. It means that courts can group similar claims together, rather than having to deal with hundreds or even thousands of separate claims. There are several stages to bring this type of lawsuit, including the courts needing to give permission for a GLO. Both sides can appeal a decision at various stages, which can make the process lengthy without a guarantee of a payout. The Mastercard case was the first of these big claims to be launched after the changes were introduced in 2015. It was first launched in 2017 and consumers have not yet received compensation. Lawyers have urged Brits to join several other class action claims for compensation in the past few years. There is no cost to sign up but the firm will usually take a cut of a payout if the claim is successful. This money is used to cover legal costs and it can be as high as 30%. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

The top payments stories you missed in July 2025
The top payments stories you missed in July 2025

Finextra

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  • Finextra

The top payments stories you missed in July 2025

0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Catch up on Finextra's most-read Payments stories from last month. Australian banks launch nationwide Confirmation of Payee scheme Confirmation of Payee (CoP) has officially arrived in Australia, with Australian banks having started the roll-out of the nationwide scheme early in July. Even though Australia is one of the only countries where scam losses were reducing, banks have invested $100 million in the name-matching technology to further drive down losses. Bank of England mulls shelving of digital pound The BofE is allegedly willing to step back from the digital pound if private businesses continue to roll out new electronic-payment technologies. According to sources from Bloomberg, staff believe the gains from moving ahead with the launch have diminished, and have instead been privately urging the industry to accelerate payment innovations that could result in similar benefits. The Finextra news desk writes: 'The Bank's current thinking is in stark contrast to that taken by the European Central Bank, which is accelerating work on a digital euro to keep up with the 'ambitious pace' set by EU leaders. The project's urgency increases in the face of geopolitical challenges, including an increasingly hostile United States under Donald Trump.' PayPal unveils integration with domestic wallets across the world PayPal has announced multiple global partnerships to integrate many of the world's largest digital wallets and payment systems in a single platform. Named Paypal World, the new initiative aims to connect almost two billion users globally and is designed to transform the way people send money in-store online, as well as with AI agents across borders. Launch partners, apart from PayPal, include Venmo, Mercado Pago, NPCI International Payments Limited (UPI), and Tenpay Global. PayPal unveils 'Pay with Crypto' feature It has been a busy month at PayPal. The company also announced a new service, called Pay with Crypto, to enable US businesses to accept payments in over 100 cryptocurrencies. The service, which is expected to become available within weeks, will let customers pay with cryptocurrencies such as bitcoin and Ethereum, as well as stablecoins including USDC. They will also be able to use wallets such as Coinbase and MetaMask. The service is designed to simplify cross-border commerce for merchants by allowing payments in crypto to automatically convert to fiat or stablecoin, and also help cut transaction fees by up to 90% when compared to credit cards. $17 million taken in TikTok ATM scam Earlier in July, a fault in a youth job programme card scheme allowed $17 million to be withdrawn and lost across New York City. The programme had issued around 30,000 cards to 14-to 24-year-olds who could not be paid via direct deposit, and were only designed to give users access to that week's earnings. However, a fault allowed users to withdraw as much as $40,000 per ATM. As the fault went viral on social media, some users even sold their cards for $1,000. Mastercard unveils A2A Protect in the UK As account-to-account (A2A) payment fraud has soared to £592 million in the UK last year, Mastercard has rolled out a new service to help banks protect consumers from A2A payment fraud and resolve disputes. A2A Protect will initially focus on the most pressing concerns, such as Authorised Push Payment (APP) fraud. The service also includes a uniform procedure for banks to resolve disputes and recover funds, across multiple use cases. Future phases will, among other features, include processes for recovering funds across a broader range of scenarios. Bailey and Reeves clash over Revolut banking licence - FT In July 2024, Revolut finally won its hard-fought-for UK banking license. The approval triggered a 'mobilisation' stage while building out its controls and infrastructure, which was expected to end after 12 months. However, in July 2025, the approval anniversary came and went without an update. The Financial Times reports that efforts to accelerate Revolut's authorisation as a fully-licenced bank failed over a clash between The Bank of England governor Andrew John Bailey and chancellor Rachel Reeves. The Treasury commented in the FT: 'The chancellor and the governor have a strong and productive relationship and the government fully supports the operational independence of the Bank of England.' The BoE and Revolut declined to comment.

How long before the GENIUS Act helps your business run faster and cheaper?
How long before the GENIUS Act helps your business run faster and cheaper?

Finextra

time16 hours ago

  • Finextra

How long before the GENIUS Act helps your business run faster and cheaper?

0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. If you conduct business internationally to or from the US, you might be able to save a lot of money, especially on cross-border payments - and also get those payments done much more quickly - in the near future thanks to stablecoin adoption. Even better, with blockchain encryption and security in place for everyone, it could be safer and easier to manage than traditional payment practices. That's what fiat-backed stablecoin promoters and providers are promising they'll deliver for global commerce. But, while you should definitely explore potential opportunities, don't count your savings in money or time yet, as it might be a while before all the lofty predictions for 'stablecoins as saviours' to become a reality. How long depends on both political decisions and regulator policies being finalised now and in the coming months – not to mention the required coordination of many 'links' in the stablecoin value chain of system designers and operators, and financial institutions too – though all parties seem to be working hard to move the needle forward on stablecoin adoption as quickly as possible. Stablecoin traffic already exceeded value of both top card networks combined in 2024 Stablecoin statistics continue to show impressive increases in both volume and value. According to the World Economic Forum, the number of stablecoins in circulation jumped more than 28% year-over-year. Values transferred surpassed the combined totals from both Visa and Mastercard transactions in 2024 – reaching $27.6 trillion in USD equivalent. The US has joined Europe (MiCA) and Hong Kong in passing legislation governing digital assets, while a number of private firms based in the US have either issued stablecoins already or purchased companies who have done so to add to their capabilities. But they might be facing greater hurdles to operation and differentiation as a result of the new definitions and regulations passed into law. Still, when the U.S. Stablecoins Act (GENIUS Act) was signed by President Trump two weeks ago, it was hailed by crypto industry and many financial services and international business advocates as being a revolutionary leap forward for the country and its primacy in worldwide commerce. Bipartisan endorsement in Congress of the legislation signalled broad agreement among many on the potential of stablecoin to cement the US dollar's continuing position at the top of the global financial hierarchy. The GENIUS Act, the initials of which stand for Guaranteeing Essential National Infrastructure in US-Stablecoins, represents the culmination of US efforts to take top prize in the global stablecoin promotion and regulation stakes. It's a one of few measures in a sharply divided Congress that gained support from both major parties, achieving passage in the House of Representatives with about a three-fourths positive vote. In the Senate, the tally was a bit more one-sided as 50 Republicans and 18 Democrats (69% to 31% - with 30 members voting 'no') supported Senate bill 1582's passage and forwarded it to the president. As of July 18, it became the law of the land. Why is the GENIUS Act so popular? Specifically, the GENIUS Act does three things: Defines legal stablecoin issuers as limited to insured depository institutions, e.g. banks, credit unions, subsidiaries of banks and nonbank financial institutions that receive approval from the Federal Reserve and demonstrate the ability to comply with the relevant law. States can also separately qualify and regulate stablecoin issuance within their borders, but only up to $10 billion or less per issuer. Requires holding of 1:1 reserves for any stablecoins issued, in physical currency, demand deposits, US treasury bills, repurchase agreements, or other low-risk assets approved by regulators. These reserves must be reported monthly in terms of portfolio composition and also be audited regularly by 'registered public accounting firms,' according to the official bill summary. Mandates that while 'permitted payment stablecoins are not considered securities under securities law,' all stablecoin issuers must comply with the Bank Secrecy Act, and implement measures protecting against money laundering (AML) and the financing of terrorism (CFT) and bolstering consumer protection. Just like 'standard' payments must do. The Office of the Comptroller of the Currency (OCC) is now the designated regulator of federal qualified payment stablecoin issuers, while the 'appropriate federal banking agency of an insured depository institution is the regulator of a payment stablecoin issuer that is a subsidiary of an insured depository institution,' per opinions on the issue from Sidley law firm. Additionally, foreign issuers of stablecoins may offer, sell, or make available stablecoins using digital asset service providers, though they must be fully vetted by the Department of Treasury as being subject to 'comparable foreign regulations' within their country of origin. How they'll actually be vetted is not yet clear. There might be more than bargained for in the 'whole package' of digital assets bills in DC The GENIUS Act was passed as part of what may end up as a three-bill 'package deal' – as two companion bills (or actually, three with only two likely to survive) have now cleared the House enroute to consideration within the Senate chamber in the coming weeks. Even with stablecoins defined and regulations specified in the US for their issuance, backing, and reporting, there's some confusion still on definitions, regulatory requirements, and oversight plans concerning other digital assets. One bill, called the Anti-CBDC Surveillance State Act reflects lingering disagreement on priorities in government and industry circles. It was passed in the US House of Representatives in early July. It's written to be a counterpoint to conservative concerns about the US developing its own central bank-issued digital currency (CBDC) and thus closely monitoring its use within the marketplace. These worries were described in Kiplinger as surrounding 'government-sponsored blockchains of citizen transactions (perceived as) too close to Big Brother financial surveillance. Hence, the name of the bill includes opposition to both CBDC as well as the 'surveillance state.'" The Digital Asset Market CLARITY Act, now passed by the US House of Representatives on a 294-134 vote and also on its way to the Senate, is the second piece of legislation related to the GENIUS Act boasting wide and bipartisan support. Still, some concerns have been voiced about its investor protections verbiage, as it transfers oversight duties on certain digital assets from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Corporation (CFTC), among other things. The CLARITY Act 'defines a digital commodity as 'a digital asset that is intrinsically linked to a blockchain system, and the value of which is derived from or is reasonably expected to be derived from the use of the blockchain system.' However, there are divergent views on how to handle crypto assets other than payments on both sides of the political aisle in the Senate. Another bill, the Responsible Financial Innovation Act of 2025 (RFIA) is also under consideration, and it would take a different approach to market regulation and classification of digital assets. The RFIA would establish a larger oversight role for the SEC, over which the Senate Banking Committee has jurisdiction. Though the CLARITY ACT and RFIA overlap in some respects, they still differ substantially. That means there must be a negotiation among Republican leadership and other supporters to choose which will survive the other and be put up to a vote in the Senate – then passed back to the House for approval before finalisation and submission for signature to the president. It's not yet certain just which proposal will win out in the Senate, but it's clear that the approach of the CLARITY Act has broad support outside the legislative chambers and in a number of diverse quarters in the business and financial arena. CLARITY's focus on standards earns support from all corners of crypto world In the words of the nonprofit Decentralization Research Center, the CLARITY Act's 'robust, control-based decentralisation test for digital assets,' would create 'a much-needed standard for evaluating when a digital asset has met a threshold to justify its transition from security to commodity,' which the organisation's leaders call 'an essential step for effective market structure legislation.' The Crypto Council for Innovation, which calls itself the 'premier global alliance for advancing the promise' of digital assets with 'seasoned experts from government, finance, tech and law,' said in its own letter to Congress that 'CLARITY strengthens disclosures, safeguards customer funds, and creates a path for compliant digital asset firms to build in the US. It balances consumer protection with market certainty and brings the US closer to frameworks already advancing overseas.' It's expected that one of these main digital asset regulatory frameworks now under consideration will advance from Congress before the end of the year, and if so, according to Akin Gump law firm, it would represent a major step forward for crypto in the financial world: 'a watershed moment for the industry not just in the U.S., but globally.' How soon will all these (passed or proposed) changes in crypto regulation impact your business? Changes in financial services always take more time than expected. The likely wait for impacts of the GENIUS and its companion bills/laws to start creating more than ripples in the financial services pool is no different. The GENIUS law governing stablecoins in the US doesn't take effect until 2027, and even then, many questions remain about potential changes in the regulation or its implementation – especially in concert with similar laws now in place or being instituted by other countries around the world. These challenges might extend its effective date as much as 120 days further into that year. Still, given what we have been reading constantly in the news regarding the GENIUS Act and its companion pieces of legislation, it's clear that no matter their ultimate forms or frameworks, these landmark digital asset laws will combine to exert a huge influence on future financial services offerings and practices in the US and abroad. Speculation ranges far and wide on just what fiat-backed, blockchain-enabled stablecoins authorised by the US government will immediately and ultimately mean to the payments world in terms of costs, timing, and verification of what will primarily be international transactions – at least to start. Fraud continues to be a concern with stablecoins as with any payment methods, as the fraudsters always seem to find ways to infiltrate nearly every legitimate transaction network designed, no matter what its protections. But, most advocates and even some opponents are hailing what they predict as a much brighter future of blockchain-secured, dramatically reduced cross-border financial transfer timelines, dropping transnational payment execution intervals from multiple days in some cases down to a few minutes or even seconds. They also foresee costs for such transfers being reduced dramatically - from double-digits of USD in expense each - to perhaps only pennies per transaction. As history has taught us, however, the pricing and efficiency of stablecoin payments will be proven in the 'real world' of daily commerce. Complete answers and transparency on actual provider expenses, operational friction, client-realised costs, transaction timing, other benefits, and, of course, potential pitfalls are for now difficult to ascertain in this nascent stablecoin marketplace. Whatever laws ultimately emerge from Congress to join the GENIUS Act's stablecoin rules and regulations, there's no doubt that the legislative and executive branch leaders now in power in the US are doing nearly all they can to encourage the acceptance of crypto and payments to ensure the country's pre-eminence in global financial affairs. It's no surprise either that the virtually exploding crypto industry, feeling the political wind at its back, is happily jumping onboard for the ride. Stablecoin providers all along the value chain – bank, nonbank, and fintech - will surely keep pressing for their offerings to supplant many traditional, and typically slower and more expensive, payment rails and methods in the US and across the globe. We'll know, maybe within a year or two, if they're successful.

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