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June 2, 2023

On the web

Fintech Giant Stripe is Getting into the Credit Game


"Stripe wants to make it easier for businesses to access credit. The private financial infrastructure giant announced a new charge card program today from Stripe Issuing , its commercial card issuing product, Denise Ho, head of product for BaaS at Stripe, told TechCrunch exclusively."

June 1, 2023

On the web

On the wires

Adyen Set to Free Millions in Daily Cash Flow for Customers with Faster Payout Services

PR Newswire

"Adyen, the global financial technology platform of choice for leading businesses, today announces the launch of Payout Services. This offering enables Adyen's customers to payout acquired funds in the preferred method of their affiliated users or partners with increased velocity, and represents Adyen's commitment to keeping their customers' needs at the core of their product development."

May 31, 2023

On the wires

May 30, 2023

On the web

On the wires

Asia Pacific Continues Growth Trajectory in Real-Time Payments Market, Leads the Way in Cross-Border Payment Linkages

Business Wire

"Real-time payments (RTP) transaction volumes in the Asia Pacific (APAC) region are expected to grow from 49.2 billion in 2022 to 96.2 billion by 2027, representing a CAGR of 14.1%, according to the 2023 Prime Time for Real-Time report published by ACI Worldwide, a global leader in mission-critical, real-time payments software, in partnership with GlobalData, a leading data and analytics company."

May 26, 2023

On the web

Block Wants to Attract Older, Wealthier Cash App Users But Risks Putting All Its Eggs In One Basket

Insider Intelligence

"Block is targeting an “older, higher net-worth audience,” according to CEO Jack Dorsey. The peer-to-peer (P2P) payment service is becoming more popular with the demographic, but only 18% of upper-income adults use Cash App, according to Pew Research Center. They want more options for how to use their money on the app, Dorsey said at a JPMorgan Chase investor conference, per Payments Dive."

On the wires

UniCredit and Mastercard Expand Payments Partnership

Business Wire

"UniCredit and Mastercard today announce a global expansion of their payment partnership. The agreement sets the stage for the start of a strong partnership consistent with the UniCredit Unlocked strategy. This is the first time any large commercial bank has put in place a single card multi market strategy of this scale in Europe."

May 25, 2023

On the web

How Ripple is Shaping The Cross-Border Transactions in Banking

The Crypto Times

"In today’s interconnected world, cross-border payments play a pivotal role in global trade and commerce. However, traditional methods of transferring money across borders can often be slow, expensive, and error-prone. Ripple, a blockchain-based payment protocol, is emerging as a promising solution."

Payment Card Volume Topped $40 Trillion Worldwide in 2022

GlobeNewswire News Room

"New data from the Nilson Report shows that purchases of goods and services tied to credit, debit and prepaid cards combined with credit card cash advances and debit card withdrawals reached $40.645 trillion in 2022. This was a 4.4% increase over 2021. For the first time in the history of the global payment card industry total volume exceeded $40 trillion."

On the wires

May 24, 2023

On the web

Citigroup to Spin Off its Mexico Business, Banamex, After Sale Efforts Collapse


"Citigroup said Wednesday it plans to pursue an initial public offering of its Mexico business, Banamex, scuttling a 16-month effort to find a buyer for the unit. The bank expects to complete the separation in the second half of 2024, with a public offering likely to follow in 2025, Citigroup said in a release. It hasn’t yet decided on a listing destination, but a dual listing in Mexico and the U.S. is possible, a source familiar with the plans told CNBC."

New Citizens Private Client™ World Elite Mastercard® Brings Innovative Design Elements and Unique Customer Benefits

Citizens Bank

"Today, Citizens is introducing the Citizens Private Client™ World Elite Mastercard®, the first launch with its exclusive payments partner, Mastercard, and the first card product in the U.S. to include Mastercard’s Touch Card™ feature.   The new Citizens Private Client™ World Elite Mastercard® directly addresses both companies’ commitment to enhancing the customer experience and fostering financial empowerment. The Touch Card feature enables people who are blind or partially sighted to easily distinguish their payment cards from one another using touch alone."

BR-DGE and Volt Join Forces to Support Merchants in Preventing Payment Fraud


"Leading payment orchestration provider BR-DGE has announced today its latest partnership with global real-time payments gateway Volt to support merchants countering payment fraud. Through a single point of integration, BR-DGE’s merchants can access a world of payment providers, fraud capabilities, and alternative payment methods. This new partnership will enable BR-DGE merchants to benefit from Volt’s Open Banking tool, which connects to over 1,800 global banks and routes payments in real-time via the best-performing network to optimise payment flows."

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