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A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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October 15, 2026
On the web
The European Banking Authority (EBA) Classifies USDC as the First Significant e-Money Token in the European Union
BitKE
"The European Banking Authority (EBA) has classified USDC, issued by Circle Internet Financial Europe SAS, as a significant e-money token (EMT) under the Markets in Crypto Assets Regulation (MiCA), following its assessment of the criteria set out in the Regulation. There are currently 45 EMTs in the European Union, which have been notified under MiCA, and USDC is the first one to be classified as being significant. From November 12 2026, USDC will be subject to the dual supervision foreseen by MiCA for significant EMTs."
October 14, 2026
On the web
Case Study: PrizePay Strengthens Payouts with Confirmation of Payee
Australian Payments Plus
"PrizePay is a platform that helps businesses distribute cash rewards. As payout volumes increased, PrizePay wanted to reduce the risk of delays or misdirected payouts caused by incorrect account details, while maintaining a simple customer experience. PrizePay partnered with Azupay to integrate Confirmation of Payee into its payout process, giving PrizePay greater confidence payments are going to their intended recipients and helping identify potential discrepancies earlier."
Airtel’s Virtual Card Will Test Safaricom’s Grip on Kenya’s Online Payments
TechCabal
"Airtel Mobile Commerce N.V. plans to launch a virtual payment card in Kenya, setting up a new contest with Safaricom over international online spending. Developed with Mastercard, the Virtual Card Number (VCN) will integrate with Airtel Money wallets, enabling customers to pay for services on global platforms such as Amazon and Netflix without a traditional bank account. The launch puts Airtel Money Global Pay in direct competition with M-PESA GlobalPay, Safaricom’s virtual Visa card introduced in 2022."
On the wires
Nuvei Secures License to Offer Local Payment Acceptance in South Africa
PR Newswire
"Nuvei, the global fintech building the infrastructure for every payment, everywhere, today announced that it has secured authorization from the Payments Association of South Africa (PASA) to offer local merchant payment services in South Africa, expanding its ability to support global brands and local businesses through its global payments platform."
October 13, 2026
Top Post
Visa Receives Approval to Begin Preparations for a Domestic Business in China
Visa
"Visa announced that it has received approval of its Application to Prepare from the People’s Bank of China (PBOC), which allows the company to begin formal preparations to establish a domestic bankcard clearing institution in China. This marks an important milestone toward the company serving China’s domestic payments market."
On the web
Canadian Payment Transactions Reach $12.9 Trillion as Real-Time Payments Near Launch
Canadas Entrepreneur
"Canadian payment transactions totalled $12.9 trillion in 2025, up 5.7 per cent from the previous year, as credit and debit cards maintained their dominance and more than half of Canadians expressed interest in real-time payments, according to a new report from Payments Canada. The findings come ahead of the planned fourth-quarter 2026 launch of Canada’s Real-Time Rail (RTR), a payment system designed to allow Canadians to send and receive payments instantly at any time of day."
October 8, 2026
On the web
Canada’s Initial Real-Time Rail Rollout Likely Won’t Include Big Banks, Sources Say
BetaKit
"Canada’s instant payment system, Real-Time Rail (RTR), likely won’t include any of the country’s largest banks in its first phase, BetaKit has learned. The RTR system is meant to be an instant, always-on payment infrastructure for Canadians and their financial institutions to transfer funds. The system is under development by the national non-profit Payments Canada, which has a government-created mandate to handle the country’s payment systems. The RTR system’s rollout first phase is slated to go live in the fourth quarter of 2026."
On the wires
India Considers Delaying UPI Payment Fee Rollout, Sources Say
Reuters
"India is considering delaying the rollout of a fee on large payments via its popular Unified Payments Interface platform by a few months, according to a regulatory official and an industry executive familiar with the discussions.India last month ended more than six years of zero-cost payments by announcing a 0.4% charge for merchants on transactions exceeding 2,000 rupees ($21), drawing opposition from retailers and a large broker."
October 7, 2026
On the web
Crypto Industry Hits Back at Regulator Calls for EU Stablecoin Reward Ban
The Banker
"European central banks and regulators have called on the EU to stop stablecoin issuers paying yield to coin holders, but the crypto industry has criticised the ban holding the bloc back.The EU banking watchdog also warned of the “very significant risk” posed by third-country multi-issuance schemes. These initiatives involve entities issuing stablecoins in several jurisdictions, meaning that reserve assets may not be located in the same market as a redemption request, which the EBA argues brings a risk of shortfalls and therefore losses."
October 6, 2026
On the web
Colombia’s Bre-B Marks One Year with Faster Adoption than Brazil’s Pix, EBANX Analysis Finds
EBANX
"In its first year of operation, Colombia’s Bre-B has become the fastest-adopting instant payment method in Latin America, scaling faster than Brazil’s Pix, whose success had made it a global benchmark. Launched in October 2025, the Colombian system is now used by 83% of the country’s adults, compared with 65% for Pix after its first year, an 18-percentage-point difference. Bre-B moved so fast that Pix took almost three times as long to reach 83% penetration."
Safaricom and Pesapal Roll Out Next-Generation M-PESA Payment Experience
Telecom Review Africa
"Safaricom and Pesapal have announced the rollout of next-generation payment experiences designed to make everyday transactions faster and more convenient for businesses and customers across Kenya. The collaboration builds on Safaricom’s continued innovation around M-PESA payments, including Scan-to-Pay, AI Pay, and Tap-to-Pay. Pesapal brings its merchant payment infrastructure to this journey, enabling Dynamic Scan-to-Pay and Tap-to-Pay through its POS devices."
Mollie Strengthens Pay by Bank to Power the Next Generation of European Payments
Mollie
"Mollie launched a renewed version of Pay by Bank, built on the technology of GoCardless, which Mollie acquired this year. Thanks to GoCardless's open banking technology, Mollie connects directly to the banks Dutch consumers already use. Pay by Bank combines GoCardless's pan-European open banking connectivity – direct connections to 2,500+ banks – with Mollie's own leading checkout experience."
October 2, 2026
On the web
Card Surcharges Are Banned. Now Aussies Are Fuming over Another Charge
SBS News
"It took just hours for fresh frustrations to emerge after Australia's card surcharge ban came into effect on Thursday. Consumers on social media questioned new charges appearing at checkouts online, including some described as "platform" or service fees."
ECB’s Digital Euro Development Targets Visa and Mastercard’s 47% Market Share
The Cryptonomist
"Visa and Mastercard already process nearly half of every euro spent on cards across the eurozone, a dominance that has pushed European officials to build an alternative: a new European Central Bank digital currency known as the digital euro. A 12-month pilot of the digital euro is set to start in the second half of 2027, with 36 finance firms including Deutsche Bank, Revolut, Adyen and UniCredit taking part. Businesses across the euro area will be required to accept the digital euro, both in-store and online, by 2029."
October 1, 2026
On the web
Binance Pay Lets Overseas Visitors Spend Crypto at PayPay Merchants in Japan
Blockonomi
"Binance Pay users visiting Japan can now spend more than 100 cryptocurrencies at most PayPay-supported merchants. The payments run through HIVEX, a framework that links overseas QR payment apps to PayPay merchants. Tether’s USDt stablecoin acts as the backend settlement layer, and merchants receive Japanese yen. Binance says it is the first crypto payment service to reach PayPay merchants through HIVEX."
Brazil Central Bank Bars Crypto Settlement in Cross-Border Payments
Tokenpost
"Brazil’s central bank will ban stablecoins and other cryptocurrencies from settling cross-border payments starting Oct. 1, cutting off a crypto-based back end used by electronic foreign-exchange providers and payment companies. The restriction applies to fintech companies and payment firms that process overseas remittances through electronic foreign-exchange services."
Paying by Card? Online or In-Person, Here’s What’s Happening with Card Surcharges from October 1 [Australia]
Commonwealth Bank of Australia
"RBA changes mean that card surcharges on eftpos, Mastercard, and Visa end from 1 October. American Express, UnionPay and PayPal have also decided to remove surcharging from 1 October, although these firms are not currently subject to formal regulation by the RBA. Other charges, including weekend surcharges and some taxi payment fees, may still apply. Lower interchange caps will also apply to Australian-issued cards, which could also affect how credit card rewards are funded."
September 30, 2026
On the web
Bancomat, Bizum, EPI/Wero, SIBS–MBWay and Vipps MobilePay Announce The Creation of a European Interoperability Entity to Connect Their Respective Solution
KBC Group
"Bancomat, Bizum, EPI/Wero, SIBS-MB WAY and Vipps MobilePay announced the creation of a new joint entity “European Network for Payments”, dedicated to operating and scaling interoperability between participating European payment solutions. The role of the newly established entity is to connect existing European payment solutions through a common technical and operational layer based on European standards, including instant account-to-account payments."
September 29, 2026
On the web
Bank of India Launches Programmable Digital Rupee with Auto-Payment Feature
BusinessLine
"Bank of India has gone live with user-level programmable digital rupee functionality and auto-issuance capability on its Central Bank Digital Currency platform, developed by Montran India, the companies announced today. The new feature allows account holders to schedule automatic transfers of digital rupees (e₹) to a beneficiary’s CBDC wallet at a fixed amount and frequency, while restricting how the recipient can spend the funds."
September 25, 2026
On the web
Finance Minister Explains UPI MDR Structure And Impact
Rediff
"Finance Minister Nirmala Sitharaman clarified that UPI MDR is not a tax, cess, or surcharge, and funds do not go to the government. The MDR is a charge within the digital payments ecosystem, shared among banks, payment gateways, and UPI apps to support infrastructure. The 0.4% MDR applies to person-to-merchant UPI transactions above Rs 2,000, effective October 15, but will not be passed on to consumers. Transactions below Rs 2,000, person-to-person transfers, and RuPay transactions remain free. See other services impacted..."
UK Banks Complete First Live Customer Transactions Using Tokenised Sterling Deposits
UK Finance
"UK banks have collaborated to complete the first live customer transactions using tokenised sterling deposits. The transactions were delivered through the Great British Tokenised Deposit (GBTD) initiative, which was convened by UK Finance and involves Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander. The first set of transactions included: Two remortgage completions and a consumer ‘marketplace’ transaction: The transactions were executed on the GBTD platform, developed by Quant."
September 24, 2026
On the web
ECB to Assess Feasibility of Interlinking with Brazil’s Instant Payment System Pix
European Central Bank
"The Governing Council of the European Central Bank (ECB) has approved initiating an assessment of the feasibility of interlinking the Eurosystem’s TARGET Instant Payment Settlement (TIPS) platform with Brazil’s fast payment system, Pix. In collaboration with the Central Bank of Brazil, the ECB will explore the potential for interlinking TIPS and Pix by assessing technical, operational, legal and business considerations. An interlinking of the two payment systems could facilitate faster and lower-cost instant payments."
BRICS Drops Common Currency Plan and Pivots to Integrated Payment System to Cut Dollar Reliance
Yahoo Finance
"BRICS leaders ended their 2026 summit without a proposal for a common currency, instead backing greater interoperability between national payment systems and more settlement in local currencies. BRICS Pay and potential CBDC links could create cross-border payment routes that reduce reliance on the dollar without requiring an entirely new currency. The strategy targets some of the same problems addressed by FedNow, XRP, and Stellar, but there is currently no evidence that BRICS plans to integrate XRP or XLM."
Kenswitch Enters Kenya’s Card Market with Domestic Card Scheme
TechCabal
"Kenswitch, Kenya’s largest independent payments switch, has launched a domestic card scheme that will let banks and other financial institutions issue physical and virtual cards on its network, putting a new player into the country’s mobile money-dominated market. The company unveiled the Kenswitch Card, a digital card issuance system built with TAI FINTECH , a fintech innovation venture affiliated with the university, and Stanchion Payments."
September 23, 2026
On the web
New Requirements Accelerated for UK Consumer Subscription Contracts
Latham & Watkins
"Multinational consumer-facing businesses are subject to a global patchwork of consumer protection laws and regulations, all of which create a complex regulatory landscape. Requirements around consumer subscription contracts are rapidly evolving and increasingly divergent across national regimes. Businesses offering subscriptions to UK consumers must prepare for new requirements related to transparency, reminders, cooling-off periods, and cancellation rights from January 2027."
AsiaPay Pilot Launches Voice Pay for Merchants in Asia
PR Asia
"AsiaPay announced the pilot launch of Voice Pay, an AI-powered voice payment experience that lets consumers speak into their mobile device and instruct a payment using their preferred payment method — from digital wallets to cards. With Voice Pay, customers can confirm purchases through natural speech on their mobile phone or other supported device."
September 22, 2026
Top Post
GoCardless Processes the First Agentic Account-to-Account Payment in the UK
Business Wire
"GoCardless has processed the first agentic account-to-account transaction in the UK, an AI-driven donation on its website for Trussell, the anti-poverty charity and community of food banks. The transaction was completed through a conversation with an AI agent whilst the payer stayed in complete control. Each donation amount -- £5, £10, or £15 per month -- comes with a description of how funds will be used. The supporter selects their option, then the AI agent prompts them to enter their bank details to set up a Direct Debit mandate."
On the web
UPI Merchant Fees Set To Boost PhonePe And Google Pay
StratNews Global
"India’s decision to introduce merchant fees on UPI payments could create a major new revenue stream for leading digital payment apps. Walmart-backed PhonePe and Google Pay could earn millions of dollars annually. From October 15, merchants will face a 0.4% fee on transactions above 2,000 rupees ($21). According to estimates from Bernstein, the new fee could generate up to $1.1 billion in annual revenue for payment apps by March 2028. Based on market share, PhonePe and Google Pay could receive around $900 million of that amount."
JPMorgan's Neukirchen on India Payments Business [Video]
Bloomberg
"Max Neukirchen, Global Co-Head of Payments at JPMorgan, discusses the business opportunities in India’s merchant payments sector. He speaks with Menaka Doshi at the sidelines of the JPMorgan India Conference in Mumbai."
PhonePe Gets Preliminary Approval for UAE Payment Licenses
Investing
"PhonePe said it received in-principle approval from the UAE central bank for two licenses covering retail payment services, card schemes, and stored value facilities. The Walmart-backed digital payments platform said the approval follows initial regulatory due diligence. The company still needs final central bank approval before it can start commercial operations in the Gulf state. PhonePe said it plans to work with regional banks, licensed payment service providers, and local technology vendors once it receives final regulatory approval."
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