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September 17, 2024
On the web
Circle Integrates USDC With National Payment Systems of Brazil, Mexico
Cointelegraph
"Circle has integrated its USD-pegged stablecoin USD Coin with Brazil and Mexico’s national real-time payment systems. According to a Sept. 17 announcement, the stablecoin is now available within both countries’ baking systems. The integration allows businesses to directly access USDC from local financial institutions without international wire transfers, said Circle. Companies in the countries can use the stablecoin for corporate purposes and offer it to retail customers."
Collaborating Across the Payments Supply Chain to Fight APP Fraud
Federal Reserve Bank of Atlanta
"Financial institutions are not required to bear the cost of authorized push payment (APP) fraud. When a person is tricked into making a payment to a criminal enterprise, the fraud loss is the consumer's responsibility under Regulation E of the Electronic Funds Transfer."
CFPB Takes Action to Stop Banks from Harvesting Overdraft Fees Without Consumers' Consent
Consumer Financial Protection Bureau
"The Consumer Financial Protection Bureau (CFPB) published guidance to help federal and state consumer protection enforcers stop banks from charging overdraft fees based on phantom opt-in agreements. Phantom opt-ins occur when banks claim they have customers’ consent to charge overdraft fees but there is no proof they actually obtained that consent."
Study: Interest Rates of Retail Credit Cards at Record High
Chain Store Age
"The average interest rates of credit cards that can be used only at a particular retailer continues to rise."
On the wires
Capchase Partners with Stripe as their First B2B BNPL Payment Method for the US
PR Newswire
"Capchase announced a strategic partnership with Stripe, a financial infrastructure platform for businesses. This partnership makes Capchase's buy-now-pay-later (BNPL) solution available within Stripe."
September 16, 2024
On the web
China Mulls How to Incentivize CBDC Adoption by Payment Providers, Consumers
Ledger Insights
"We recently reported that China’s central bank digital currency (CBDC), the eCNY, processed $56 billion in transactions in a single month. It reached a cumulative volume of RMB 7 trillion, which is nearing the $1 trillion mark ($932 billion to be precise). However, a fair proportion is business usage. Stories continue to circulate about a lack of consumer enthusiasm for the digital RMB."
Mondu and Stripe to Deliver BNPL Payments to B2B Merchants
IBS Intelligence
"Mondu, the Amsterdam-based B2B FinTech, has signed a new partnership with Stripe for businesses. B2B merchants and marketplaces can now offer Mondu’s flexible invoice payment options directly through their existing Stripe set-up, enhancing the checkout experience and driving higher conversion rates."
41 Institutions Join BIS Tokenized Cross Border Payment Project Agorá
Ledger Insights
"The Institute of International Finance (IIF) released the names of 41 firms selected to participate in the public – private tests of Project Agorá. It’s an ambitious project initiated by the BIS to modernize correspondent banking using a unified ledger, tokenized deposits and wholesale CBDC from seven central banks."
Nayax Partners with Adyen to Globally Expand Electric Vehicle Charging and Automated Self-Service Payments Infrastructure
Adyen
"Nayax Ltd. and Adyen announced a long-term strategic partnership to drive the global delivery of cashless payment technology to businesses in the Electric Vehicle (EV) charging and automated self-service industries."
On the wires
Affirm Live When Checking Out Online or In-App with Apple Pay
Business Wire
"Affirm announced that Affirm is now available to eligible users checking out online and in-app with Apple Pay on iPhone and iPad."
September 13, 2024
On the web
Google Announces Beta Test for Digital IDs Based on Biometrics and Us Passports
Biometric Update
"A new type of digital ID based on U.S. passports in Google Wallet has been introduced ahead of beta testing. Users scan the chip in their electronic passport, and match their selfie biometrics with a short video."
Safaricom Receives Payment Facilitator Certificate From Visa
TechTrendsKE
"Digital payments company Visa has awarded Safaricom a Payment Facilitator Certificate, marking a major milestone in its ongoing partnership with the telco."
The Shadow Dollar That’s Fueling the Financial Underworld
WSJ
"Cryptocurrency Tether enables a parallel economy that operates beyond the reach of U.S. law enforcement (WSJ Subscription Required)."
FinCEN Issues In-Depth Analysis of Check Fraud Related to Mail Theft
FinCEN
"The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis (FTA) on mail theft-related check fraud incidents based on Bank Secrecy Act (BSA) data filed in the six months following FinCEN’s issuance of its 2023 alert on this same topic."
International Visitors to Beijing Can ‘Tap & Go’ With Mastercard Cards to Pay For Rides on Beijing Urban Rail Transit
Mastercard
"Supported by the PBC, the Beijing government, and the city’s urban rail transit system, Mastercard has become the first international payment brand in Chinese mainland to complete system integration and successfully launch the 'Tap & Go' feature for urban rail transit"
September 12, 2024
Top Post
Mastercard Invests in Continued Defense of Global Digital Economy With Acquisition of Recorded Future
Mastercard
"Mastercard expanded its cybersecurity services with an agreement to acquire global threat intelligence company Recorded Future from Insight Partners for $2.65 billion."
On the web
BBVA Incorporates USDC, a Leading Stablecoin, Into Its Crypto Asset Service in Switzerland
NEWS BBVA
"The bank is expanding its cryptocurrency custody and trading services to include USD Coin (USDC), a leading stablecoin whose value is pegged to the US dollar."
AvidXchange and Workamajig Announce Exclusive Strategic Partnership to Empower Media Companies to Manage Invoices Seamlessly
AvidXchange
"AvidXchange, a leading provider of accounts payable automation software and payment solutions for middle market businesses and their suppliers, announced a strategic and exclusive partnership with Workamajig, a leading agency management software for the creative industry."
New Bill Introduced in Parliament to Clarify Crypto’s Legal Status
GOV UK
"The Property (Digital Assets etc) Bill, introduced in Parliament will mean that for the first time in British history, digital holdings including cryptocurrency, non-fungible tokens such as digital art, and carbon credits can be considered as personal property under the law."
Nymcard Leverages Mastercard Move to Offer Fast and Efficient Cross-Border Payments Across 47 Countries
Zawya
"NymCard has joined forces with Mastercard to offer fast global money transfers to its customers from the UAE to 47 countries leveraging Mastercard Cross-Border Services, part of the Mastercard Move portfolio of money transfer solutions, to deliver international remittance experiences to various countries including Bangladesh, Egypt, India, Nepal, Pakistan, Philippines, Sri Lanka, United Kingdom, United States and many more."
How ISO 20022 Is Helping BNY Navigate the Future of Payments
SWIFT
"We’re entering a critical phase of the global ISO 20022 adoption. With the end of the MT/ISO 20022 cross-border coexistence period coming in November 2025, Fedwire scheduled to migrate in March 2025, and multiple post-migration milestones on the horizon in 2026, we spoke to Isabelle Bouille from BNY about their journey to ISO 20022 adoption."
J.P. Morgan Payments Expands Oracle Partnership to Streamline Payments Across Treasury, Trade and Commerce
FF News
"J.P. Morgan Payments has announced new and enhanced product integrations connecting to the Oracle ecosystem, making it easier for clients to streamline their payments across treasury, trade and commerce."
On the wires
Rain Technology Delivers ATM Switchable Privacy Display Technology
Business Wire
"Rain Technology announced the availability of ATM Switchable Privacy™, designed to protect consumers against visual hackers and snoopers at ATM terminals in financial institutions, retail stores, restaurants, airports, and other public settings."
Koxa Launches Open Banking Gateway to Drive Dodd-Frank Section 1033 Compliance
PR News Wire
"Koxa Corp. launched Open Banking Gateway, a new solution to help banks address the financial data access requirements of open banking regulations including Dodd-Frank Section 1033."
Pix to Surpass Credit Cards in Digital Commerce in Brazil by Next Year; Ebanx Analyzes Outcomes
PR News Wire
"Brazil's instant payment system Pix is set to surpass credit cards as the most widely used payment method in Brazilian digital commerce by next year, according to Payments and Commerce Market Intelligence (PCMI) data analyzed by EBANX, a global technology company specializing in payment services for emerging markets."
DNA Payments Launches Apple Pay Express Checkout for Ecommerce
Business Wire
"DNA Payments has introduced Apple Pay Express Checkout, giving Ecommerce clients a new way to accept customer payments. Now, merchants can offer Apple Pay at checkout or via the Express option through the Safari browser, ensuring consumers a swift and seamless buying experience."
September 11, 2024
On the web
Cross-Border QR Codes Begin to Take Shape (Vietnam)
Vietnam Investment Review
"Pham Anh Tuan, director of the Payment Department at the State Bank of Vietnam, announced that Vietnam had successfully established cross-border payment connections via QR codes with Thailand and Cambodia, and was in the process of extending to Laos."
TrueLayer powers Stripe’s Pay by Bank feature in the UK
IBS Intelligence
"TrueLayer, Europe’s open banking payments network, has expanded its partnership with Stripe . TrueLayer now underpins Stripe’s Pay by Bank offering across its payment products in the UK."
On the wires
Shoplazza Partners with Stripe to Revolutionize E-Commerce Payment Solutions
PR News Wire
"Shoplazza announced a new partnership with Stripe to power Shoplazza's payment platform. This partnership, unveiled at the Stripe Tour Singapore 2024 – Asia Pacific Regional Event, represents a major advancement in Shoplazza's e-commerce payments, aimed at enhancing both efficiency and security for merchants."
Boost Payment Solutions Empowers Enterprise Buyers to Conveniently Pay Global Suppliers using Commercial Cards with Boost 100XB
PR News Wire
"Boost Payment Solutions, the global leader in B2B payments, announced Boost 100XB, an innovative new cross-border payments solution for US-issued commercial cards. Boost 100XB allows the use of existing U.S.-issued commercial cards to pay suppliers in over 180 countries worldwide."
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