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Fraud detection, face payments and real-time cross border payments key trends for 2025: Phi Commerce

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Phi Commerce envisages five key payment trends to emerge in 2025

MUMBAI, India, Dec. 26, 2024 /PRNewswire/ — In the past few years, digital payments have transformed the way Indians conduct financial transactions, driven by the explosive growth of Unified Payments Interface (UPI). Indian policymakers have facilitated a payments ecosystem in the country like never before, that consumers have begun to come to terms with a new ease of transacting, which has also thrown up challenges of its own.

2024 saw significant changes in the payments landscape, with frameworks drawn for features like conversational voice payments, credit lines, UPI vouchers and UPI Circle. These enhancements aim to improve user convenience and broaden the adoption of digital payments. UPI has also become a global role model in payments, with several countries in Asia, Africa and South America engaging the National Payments Corporation of India to develop digital payment systems modelled after UPI, with launches anticipated by early 2027. 2024 also saw the Reserve Bank of India conducting a digital currency pilot, with major payment firms like Google Pay, PhonePe, and Amazon Pay seeking to participate, indicating a move towards integrating central bank digital currencies (CBDCs) into the payment ecosystem.

As a provider of digital payments like UPI to enterprise clients, Phi Commerce envisages five key payment trends to emerge in 2025, after consistent deliberations with its ecosystem partners. These touch upon the emerging growth of AI-enabled fraud prevention tools, growing popularity of cross border payments, unified lending interface, interoperable mobile wallets and biometric payments.

AI-enabled Digital Fraud Detection

According to the Reserve Bank of India (RBI), domestic payment fraud increased by 70.64% in six months, reaching Rs 2,604 crore by March 2024, up from Rs 1,526 crore during the same period the previous year. The number of fraud cases also spiked, increasing to 15.51 lakh from 11.5 lakh in the prior six months.

As a result of the dynamic nature of threats in line with technology advancements in payments, traditional fraud detection systems that use rule-based frameworks to identify suspicious transactions are no longer effective. In the current context, prevention must be prioritised over detection and artificial intelligence (AI) could help address these issues a lot more efficiently. AI-enabled tools aim to offer proactive and predictive fraud detection tools against incidents like deepfake videos and sophisticated phishing scams. Financial institutions are turning to AI-powered fraud detection systems to analyse vast datasets in real time, identifying and neutralizing threats effectively. Security has become the foremost challenge for the payments industry as fintech innovations are on the rise, which is adding to the volumes of transactions.

Real-Time Cross-Border Payments

The domestic payment ecosystem is witnessing a global transformation, driven by the international interoperability of UPI. In FY2024, cross-border UPI transactions surged by 150%, according to NPCI data, reflecting robust adoption and rising consumer confidence. Looking ahead, the integration of central bank digital currencies (CBDCs) and stablecoins into real-time cross-border payment frameworks is set to revolutionise global financial transactions. These advancements promise to significantly reduce transaction costs, enhance processing speeds, and provide seamless payment experiences, thereby catalysing international trade and economic growth.

Unified Lending Interface

The Unified Lending Interface (ULI) framework introduced by the Reserve Bank of India will emerge as a transformational tool to address the last mile gap in India’s lending landscape, much like the way UPI transformed the retail payments landscape. ULI will simplify access to credit by integrating various stakeholders in the lending ecosystem, such as banks, NBFCs, digital lending platforms, and regulators, through a common platform using the plug-and-play model. And this will essentially help the under-banked communities more (read farmers, MSMEs etc), as lending institutions will now have access to borrowers’ digitised records lying with state or central databases, account aggregators, credit bureaus, financial institutions and so on.

Digital Wallet and Interoperability

India’s widespread adoption of digital wallets is paving the way for their seamless integration with card-based payment systems, eliminating silos and offering consumers unparalleled convenience. As per a GlobalData report, the value of mobile wallet transactions in India expanded at a compound growth rate of 72.1% to reach US$2.5 trillion, from 2019 to 2023. Digital wallets now make up for 25% of total payments in India, while UPI dominates 80% of retail transactions (RBI Payments Data 2024). Interoperable digital wallets that support multiple payment networks and protocols, enabling users to transact across various merchants and service providers, is the way forward, and 2025 will see more action on that front.

Face-based Payments

The Reserve Bank of India’s (RBI) move to allow non-OTP methods, such as biometric authentication for the second payment factor, opens the door to face-based payment systems. Facial recognition can offer a seamless and secure alternative to traditional OTP-based methods, eliminating the dependence on mobile networks or SMS delivery.

In the Indian context, this innovation could significantly enhance the user experience, especially in regions with inconsistent mobile connectivity. It also addresses challenges like SIM-swapping fraud or delays in receiving OTPs. Facial recognition leverages advanced AI and biometric data, ensuring both convenience and security, critical in high-volume and low-value transactions like those in retail or transit systems.

This shift aligns with India’s growing digital payment ecosystem, where Aadhaar-enabled authentication has already laid a robust foundation for biometric verification. For merchants, it reduces friction at checkout points, and for consumers, it means faster transactions without additional devices.

About Phi Commerce

Digital payments company Phi Commerce offers omnichannel payment solutions to enterprises that enable them smooth and flexible payments across all consumer touchpoints — browser, mobile, in-store and remote. A payment aggregator payment gateway (PAPG) licence holder from the Reserve Bank of India, Phi Commerce offers a unified omnichannel digital payment platform catering to both B2B and B2C payment requirements for businesses worldwide. The company, backed by investors like Beenext Singapore and Opus Ventures, has offices in Mumbai, Pune, and Singapore, with plans afoot to expand into Southeast Asia, Japan and the Middle East. Phi Commerce had won the ‘Best in Class Payment Startup in Established Fintech Category’ at the 2024 Assocham Annual Fintech Excellence Awards.

 

View original content:https://www.prnewswire.com/in/news-releases/fraud-detection-face-payments-and-real-time-cross-border-payments-key-trends-for-2025-phi-commerce-302339262.html

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VNET Announces Changes to Leadership Team

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BEIJING, April 20, 2026 /PRNewswire/ — VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), today announced that Mr. Qiyu Wang has resigned from his position as VNET’s Chief Financial Officer for personal reasons, effective April 30, 2026. Mr. Wang’s resignation is not due to any disagreement with the Company, nor does it relate to the Company’s operations, policies, practices, accounting matters, or procedures.

Mr. Josh Sheng Chen, Founder, Executive Chairperson and Interim Chief Executive Officer of VNET, commented, “On behalf of the Company, I would like to thank Qiyu for his contributions during his tenure. His financial discipline and strategic insight have been instrumental to the Company’s growth. We wish him every success in his future endeavors.”

In February 2026, the Company announced the appointment of Mr. Peter Zhihua Zhang as Senior Vice President, Operational Finance of VNET, to oversee the Company’s financial operations and to serve as the Company’s “principal accounting officer” in accordance with applicable U.S. federal securities laws, SEC rules, and Nasdaq requirements. Since joining VNET in 2019, Mr. Zhang has demonstrated extensive expertise in multiple key roles within the Company’s finance operations.

About VNET

VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers’ internet infrastructure. Customers may locate their servers and equipment in VNET’s data centers and connect to China’s internet backbone. VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of over 7,000 hosting and related enterprise customers that span numerous industries ranging from internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

Safe Harbor Statement

This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and similar statements. Among other things, quotations from management in this announcement as well as VNET’s strategic and operational plans contain forward-looking statements. VNET may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about VNET’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: VNET’s goals and strategies; VNET’s liquidity conditions; VNET’s expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, VNET’s services; VNET’s expectations regarding keeping and strengthening its relationships with customers; VNET’s plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where VNET provides solutions and services. Further information regarding these and other risks is included in VNET’s reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and VNET undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com

View original content:https://www.prnewswire.com/news-releases/vnet-announces-changes-to-leadership-team-302747154.html

SOURCE VNET Group, Inc.

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Steven Rivera Appointed Chief Revenue Officer of NRI North America

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NEW YORK, April 20, 2026 /PRNewswire/ — Nomura Research Institute (NRI), a leading global provider of consulting and technology services, today announced that Steven Rivera has been appointed Chief Revenue Officer (CRO) for North America.

In this role, Rivera will oversee revenue-related functions across the region, including sales, marketing, demand generation, strategic partnerships, and client engagement.

Rivera brings more than 26 years of experience to the role, having held sales and marketing leadership positions within the cybersecurity, managed services, and consulting sectors. Over the course of his career, he has led the development of integrated go-to-market strategies and supported organizations in strengthening client relationships and operational alignment.

Prior to joining NRI, Rivera served as Chief Revenue Officer at Logically, where he was responsible for coordinating revenue functions across sales, marketing, client support, and pricing. His work focused on improving organizational alignment and supporting consistent business performance.

“Steven’s experience across revenue leadership and his background in cybersecurity and consulting are well-aligned with our priorities in North America,” said Toshi Oiwa, Chief Executive Officer of NRI North America. “We believe his perspective will contribute to the steady advancement of our regional capabilities and support our efforts to further deepen relationships with our clients over the long term.”

Rivera’s areas of expertise include enterprise sales leadership, revenue operations, cloud and cybersecurity solutions, and financial planning. He also brings experience in security consulting, risk analysis, program management, and governance, risk & compliance (GRC).

About NRI

In North America, NRI is a business and technology solutions consultancy. Guiding our clients from insight to execution, we design and deliver solutions that fuel growth, grow profitability, and result in lasting innovation. NRI has more than 16,000 employees in 16 countries and regions including New York, London, Tokyo, Hong Kong, Singapore, and Australia. NRI reports annual sales above US $4.8 billion and is rated “A” by S&P Global Ratings Japan. Learn more at www.nri-na.com

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SOURCE NRI

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Ionic Digital Announces March 2026 Mining and Operations Update

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AUSTIN, Texas, April 20, 2026 /PRNewswire/ — Ionic Digital Inc. (“Ionic Digital” or the “Company”), a digital infrastructure company supporting the expanding needs of AI and high-performance computing, today issued its unaudited Mining and Operations Update for March 2026.

In March, Ionic Digital mined 28.05 Bitcoin (“BTC”), a decrease of 14.9% compared to the prior month. The Company’s site production varied in line with strategic adjustments, following fleet consolidation.

The decline in production was driven by a 19.4% decrease in average hashrate and a 6.8% reduction in network block production, partially offset by a 3.3% decline in the global hashrate. Ionic’s share of the global hashrate declined 16.6% month-over-month to 0.21%, reflecting a sharper reduction in company output relative to the total network.

At our four Midland sites, production was 24.26 BTC, a 4.7% month-over-month increase, as the most efficient miners from the Oklahoma GXD facility came online at Midland. At GXD, production was 3.79 BTC, a planned decrease of 61.2% month-over-month due to continued de-racking and reduced operational contribution.

The daily average hashrate was 2.04 EH/s, down 19.4% compared to the prior month, due to the discontinuation of the GXD hosting contract and removal of miners (-62.5%), while Midland remained relatively stable (-1.2%).

Ionic Digital continues to maintain its zero-debt position and liquidated no BTC in March. As of March 31, 2026, the Company held 2,815.6 BTC, an increase of approximately 28.2 BTC over the prior month.

Key Mining and Operating Metrics Summary

Metric

March 2026

Capacity (MW)1

112.0

Efficiency (J/THs)2

29.1

Daily Average Hashrate (EH/s)3

2.04

BTC Mined4

28.05

Average BTC Mined/Day5

0.90

BTC Sold

0.0

BTC Holdings6

2,815.6

Total current energy available at the four Midland sites, representing a change in previous reporting.
Previous reporting only measured total current capacity for mining activities available at hosted and directly
owned sites.Represents the capabilities of active miners during the reporting period.The reported hashrate is derived from internal performance data. Hashrate values reflect miner downtime
and curtailment.Gross BTC mined of 28.05 BTC. No hosting fees were paid in BTC for March 2026.Average BTC/Day in the prior month was 1.18.BTC Holdings excludes 0.9 BTC earned but in transit as of month-end, a change of -0.2 BTC from prior
month. The BTC balance at the end of the prior month was 2,787.4 BTC.

About Ionic Digital 
Ionic Digital Inc. is a digital infrastructure company that develops strategic powered land assets for data centers, high-performance computing (HPC) and cryptocurrency mining. Learn more at www.ionicdigital.com or follow us on X and LinkedIn.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ionic-digital-announces-march-2026-mining-and-operations-update-302746771.html

SOURCE Ionic Digital Inc.

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