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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July 9, 2025
On the web
Mastercard, Visa’s Merchant Fees Breach Competition Law, UK Tribunal Rules
MSN
"Global payments processors Visa and Mastercard's default multilateral interchange fees which are charged to retailers infringe competition law, a London tribunal ruled on Friday in the latest round of the long-running legal saga. London's Competition Appeal Tribunal unanimously ruled that Visa and Mastercard's multilateral interchange fees breach European competition law, in a ruling in linked lawsuits brought by hundreds of merchants."
July 8, 2025
On the web
Banks in Slovakia to Introduce Real-Time Name Checks on Payments Under EU Rules
The Slovak Spectator
"From October, bank customers across Slovakia will be able to verify the recipient’s name before making a transfer, under a new European Union regulation designed to reduce payment errors and fraud. Mistakes when entering IBAN numbers can lead to money being sent to the wrong account – a problem that can take weeks or even months to resolve. The new system allows customers to instantly check whether the account number they entered matches the intended recipient’s name, free of charge."
July 7, 2025
On the web
Bank of Korea Pauses CBDC Project to Promote Stablecoins
Ainvest
"The Bank of Korea has decided to pause its central bank digital currency (CBDC) project, shifting its focus towards promoting the use of stablecoins. This decision comes as the government seeks to leverage the benefits of stablecoins in the digital economy."
Belgian Banks Join European Payments Initiative to Expand Wero Wallet Across Europe
Reuters
"Five Belgian banks - Argenta, Bank Van Breda, Beobank, Crelan and vdk bank - said on Monday that they were joining the European Payments Initiative and that they would roll out the EPI's digital wallet Wero to their customers next year. The EPI was set up by European banks in a bid to rival the dominance of U.S. companies Visa and Mastercard."
July 2, 2025
On the web
The Yuan's Digital Leap: Betting on China's Stablecoin Ambitions in a Dollar-Dominated World
AInvest
"The global financial system is on the cusp of a seismic shift as China accelerates its push to tokenize the yuan through digital currency initiatives. With the U.S. dollar still dominating 80% of global payments, Beijing's efforts to internationalize the yuan via its digital counterpart—the e-CNY (digital yuan)—and yuan-backed stablecoins are no mere technical experiment."
Hokkoku, Soft Space to Unveil SoftPOS Supporting Stablecoin Payments [Japan]
Yahoo Finance
"Hokkoku Financial, in collaboration with fintech firm Soft Space, has revealed plans to launch a SoftPOS solution. The solution enables merchants to process contactless card payments and regulated stablecoin transactions using mobile devices."
On the wires
NAB Welcomes Confirmation of Payee [Australia]
NAB News
"NAB has today welcomed the launch of the banking industry’s new Confirmation of Payee system to help tackle scams. Customers making payments with a BSB and account number in the NAB App and Internet Banking will benefit from the technology as it is rolled out at NAB."
July 1, 2025
On the web
Pesalink and The Fintech Alliance Partner to Accelerate Digital Payments in Kenya
TechAfrica News
"Pesalink has signed a Memorandum of Understanding with The Fintech Alliance, marking a significant step towards enhancing Kenya’s digital payment ecosystem. This partnership aims to accelerate access to fast, interoperable, and inclusive digital payments throughout the country."
June 27, 2025
On the web
Mastercard, Visa's Merchant Fees Breach Competition Law, UK Tribunal Rules
Reuters
"Global payments processors Visa and Mastercard's default multilateral interchange fees which are charged to retailers infringe competition law, a London tribunal ruled on Friday in the latest round of the long-running legal saga. London's Competition Appeal Tribunal unanimously ruled that Visa and Mastercard's multilateral interchange fees breach European competition law, in a ruling in linked lawsuits brought by hundreds of merchants."
IMF Study Suggests Interoperability Boosts Digital Payments Use
Biometric Update
"The International Monetary Fund has published a report on growing retail digital payments, which is a significant aim of many digital public infrastructure and financial inclusion programs worldwide. Specifically, the study looks at the value of interoperability as policymakers globally are looking to boost retail digital-payment use."
June 24, 2025
On the wires
EuroPA and EPI Launch Collaboration to Expand Sovereign Pan-European Payments
EPI
"The EuroPA alliance (European Payments Alliance) – represented by Bancomat, Bizum, MB WAY (SIBS), and Vipps MobilePay – and EPI Company (EPI) have announced their cooperation, now exploring solutions to rapidly address Europe’s sovereignty challenge in payments, especially regarding cross-border transactions."
June 23, 2025
On the wires
Alipay+ Launches World’s First Smart Glasses-Embedded Payment Solution
Business Wired
"After Alipay debuted a smart glasses payment solution with Rokid in China, Alipay+, the unified wallet gateway service under Ant International, announced the Alipay+ smart glasses-embedded payment solution for global e-wallets. In collaboration with Meizu, a global industry leader, Alipay+ completed the world's first real-world smart glasses-embedded e-wallet payment transaction in Hong Kong."
Shift4 to Acquire Australian Payments Leader Smartpay
Business Wire
"Smartpay sells tailored payment solutions through an extensive distribution network across Australia and New Zealand, supporting a diverse base of more than 40,000 merchants in the region. The acquisition is expected to close in the fourth quarter of 2025, subject to regulatory approvals."
June 20, 2025
On the web
FTC Fines Payment-Processor Paddle $5 Million for Alleged Support of Schemes
Insurance Journal
"Paddle.com Market, a U.K.-based payment processor, and its subsidiary, Paddle.com, Inc., will pay $5 million and be permanently banned from processing payments for tech-support telemarketers, said the Federal Trade Commission this week. The FTC alleged that Paddle abused the U.S. credit-card system and enabled deceptive foreign operators to access it, costing consumers millions of dollars."
June 19, 2025
Top Post
Standard Bank First in Africa to Offer Access to China’s Cross-Border Interbank Payment System
TechAfrica News
"In a first for the continent, Standard Bank Corporate and Investment Banking is the first authorised bank to offer transactions through China’s Cross-Border Interbank Payment System (CIPS). The payment system will allow for interbank payments between Africa and China using Chinese Renminbi (RMB) as the underpinning currency."
June 18, 2025
On the web
CIPS Signs Direct Participant Agreements With Six Foreign Institutions, Facilitating Use of Yuan in Cross-Border Transactions
Global Times
"China's Cross-Border Interbank Payment System (CIPS) signed direct participant agreements with six foreign institutions in Shanghai, marking the first time that the system's overseas foreign direct participant coverage extends to offshore yuan centers in Africa, the Middle East, Central Asia, and Singapore, which will facilitate the use of the yuan in cross-border transactions, China Media Group reported."
Central Bank of Kenya Extends Kenya Electronic Payment and Settlement System (KEPSS) Payment Hours to 7PM Starting July 1 to Support 24/7 Economy
Kenyans
"The Central Bank of Kenya (CBK) has announced a major change to the country’s banking operations as part of its broader strategy to modernise and strengthen Kenya’s financial infrastructure. Effective July 1, 2025, the Kenya Electronic Payment and Settlement System (KEPSS) working hours will be from 7am to 7pm on all business days. This is a considerable increase from the current 8:30am to 4:30pm schedule."
Indonesia’s Payments Evolution: The Rapid Rise of Dynamic QR Codes for Payments, What Next?
Stanchion
"Indonesia is a fascinating market with huge retail payments opportunities. Its population of circa 285 million makes it globally the fourth largest country, whilst Jakarta is approaching 12 million people making it the 28th most populous city. An interesting fact is that the country has the largest Muslim population in the world with 87% of her people identifying with the faith. Indonesia is also the largest economy of all the South-East Asian markets."
On the wires
China Talks up Digital Yuan in Push for Multi-Polar Currency System
Reuters
"The head of China's central bank pledged to expand the international use of the digital yuan and called for the development of a multi-polar global currency system, where several currencies dominate the world economy. China will establish an international operation centre for e-CNY in Shanghai, People's Bank of China Governor Pan Gongsheng said on Wednesday at the Lujiazui Forum, a high-profile gathering of local and foreign financial industry executives and regulators."
June 16, 2025
Top Post
Nubank Launches Automated Pix With Smart Bill Search
Nu International
"Nubank announces the launch of Automated Pix, a new option to pay recurring bills with convenience and security, available to customers starting June 16. The new feature will be accompanied by the ‘Search Upcoming Bills’ feature, which will give customers complete freedom to choose how and when to pay – whether fully automatically or in a facilitated manner, with alerts and simple one-click approvals directly in the app."
On the web
Accept/Pay Global Launches Real-Time Payments with Interac, Empowering Businesses to Move Money Instantly
Canada Newswire
"Accept/Pay Global announced the launch of its Real-Time Payments with Interac product, enabling businesses across Canada to send and receive payments instantly and securely using Interac e-Transfers. Enterprise customers and financial platforms looking to streamline collections and disbursements can now integrate with our API to deliver speed, convenience, and reliability in payments."
June 13, 2025
On the web
Zru Incorporates Network Tokens Into Its Payment System to Enhance Conversion in Ecommerce
Marketing4eCommerce
"The Spanish payment orchestration platform Zru has announced the addition of a new feature to its system: network tokenization. This technology, driven by leading card brands like Visa and Mastercard, allows the real card number to be replaced by an identifier (token) that can continue to function even if the physical card changes (due to loss, renewal, or expiration)."
June 12, 2025
On the web
Paytm Shares Plunge 10% as Government Denies MDR on UPI
NewsBytes
"Shares of One97 Communications, the parent company of digital payments platform Paytm, fell by as much as 10% on Thursday. The decline came after the Finance Ministry rejected rumors about the possible introduction of a Merchant Discount Rate (MDR) for Unified Payments Interface (UPI) transactions. The ministry called such reports "baseless and sensational speculations" that create unnecessary uncertainty among citizens."
Visa, Chainlink Successfully Complete CBDC, Stablecoin Swap Between Hong Kong, Australia
CryptoSlate
"Visa and Chainlink have completed a key milestone in the Hong Kong Monetary Authority’s (HKMA) e-HKD+ Pilot Programme, successfully testing a cross-border blockchain transaction using central bank digital currency (CBDC) and stablecoins. The trial, conducted in partnership with ANZ, ChinaAMC, and Fidelity International, is one of the first real-world simulations of programmable money being used for cross-border investment in tokenized assets."
Central Bank of Brazil Hints at Credit-Focused CBDC Pilot Phase
Bitcoin News
"The third phase of the CBDC pilot will involve implementing tokenization solutions that allow customers to provide banks with visibility into their collateral assets in Brazil. The drex pilot, currently in its second phase, has encountered issues that impact its viability. Its main roadblock has been the lack of a privacy solution that fulfills all the requirements the bank needs to apply bank secrecy-like laws to drex transactions, meaning that transactions must be obfuscated from third parties but visible for regulators."
June 11, 2025
On the web
Afterpay, Klarna, Zip Warning for Aussie Users as Major BNPL Overhaul Hits Today (June 10): ‘You Should Reconsider'
Yahoo Finance
"Australians who use buy now, pay later (BNPL) services have been warned new regulations coming into force from June 10 could have huge implications on their future. While these platforms have been game-changers for people running a little low on cash, they're now operating under the same rules as credit cards and personal loans."
Visa Describes Upcoming EU Digital Identity Wallet as ‘Gamechanger’ for Payments and Banking
National Technology
"The head of digital identity at Visa has described the upcoming EU Digital Identity Wallet (eID) is as a “gamechanger” for payments and banking. The eID Wallet is a planned digital ID that can be used to authenticate and verify people for payments and banking. By 2026, each EU member state will need to deliver at least one version of the Wallet. The IDs are expected to be fully operational by 2027, with service providers mandated to accept them during the same year."
Australian Payments Plus and G+D to Lower Cost of Debit Payments for Online Checkouts
Fintech Singapore
"Australian Payments Plus (AP+) is working with payment technology firm Giesecke+Devrient (G+D) to bring eftpos and least-cost routing (LCR) to Click to Pay, marking what the companies say is a global first for online debit card payments. AP+ brings together three domestic payment providers, BPAY Group, eftpos and NPP Australia, into one integrated entity."
Will UPI Transactions Be Costly? Govt May Consider Charges on Payment Above This Amount
India TV News
"The Payments Council of India (PCI) has suggested a 0.3 per cent MDR for big merchants. Currently, credit and debit cards have an MDR of 0.9 per cent to 2 per cent, but RuPay cards are exempt from this."
June 10, 2025
On the wires
Societe Generale Becomes First Major Bank to Launch Dollar-Pegged Stablecoin
Reuters
France's Societe Generale said it plans to launch a publicly tradable, dollar-backed stablecoin through its digital asset subsidiary, making it the first major bank to enter the growing market of dollar-pegged cryptocurrencies. The new digital currency, named "USD CoinVertible", will be issued on both the Ethereum and Solana blockchains, with public trading expected to start in July, SocGen's crypto arm SG-FORGE said in a statement.
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