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April 18, 2024
On the wires
Finmo Introduces Direct Real-Time Payment (RTP) Integration in Australia and Expands Global Team
PR Newswire
"Finmo Tech Pte. Ltd announced its direct integration with Australia's New Payment Platform (NPP) as an identified institution through its partner bank, Australian Settlements Limited (ASL)."
April 17, 2024
On the web
MIT, German Central Bank Will Research CBDC Privacy in New Project
Cointelegraph
"The Deutsche Bundesbank is the latest monetary authority to team up with the Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) to study central bank digital currency (CBDC)...the joint research will focus on designing security and privacy measures in a CBDC."
India Scrambles to Curb PhonePe and Google’s Dominance in Mobile Payments
TechCrunch
"The National Payments Corporation of India (NPCI) is going to meet fintech startups this month to develop a strategy to address the dominance of PhonePe and Google Pay in the UPI ecosystem, sources told TechCrunch...These meetings are to address the dominance of Google Pay and PhonePe, accounting for nearly 86% of UPI transactions by volume (that’s up from 82.5% at the end of December)."
Mastercard and Onafriq Partner to Increase Accessibility to Financial Services Across Africa’s Payment Ecosystem
Onafriq
"Mastercard and Onafriq (previously MFS Africa), a pan-African payments company, have partnered to bring secure, cost-effective, and innovative payment options to consumers as well as small and medium enterprises (SME) across the continent."
April 16, 2024
On the web
Canada’s Real-Time Rail Program Resumes With Renewed Momentum
Payments Canada
"Payments Canada announced a path forward for the Real-Time Rail (RTR), Canada's fastest payment system...The path forward for the RTR includes new partners IBM Canada and CGI, along with Interac, to support the delivery and operation of the RTR."
Mastercard and Fintech Vopay Enter Strategic Partnership to Empower Canadians to Move Money Quickly and Securely With Mastercard Move
Mastercard
"Mastercard and VoPay announced a strategic partnership that will offer choice, simplicity and efficiency for near-real-time money movement in Canada and internationally for businesses and consumers."
On the wires
Worldline Announces Partnership With Risk Expert Riskquest BV to Provide Best-In-Class Credit Checking
Business Wire
"Worldline has signed a partnership agreement with the leading risk consultancy firm in the Netherlands RiskQuest BV, part of the Zanders Group, to provide best-in-class credit check processes specific to the Dutch market."
April 15, 2024
On the web
Mastercard and Leading Canadian Fintech VoPay Enter Strategic Partnership to Aid Money Movement for Canadians with Mastercard Move
Fintech Finance
"Responding to the ever-growing need to move money seamlessly, Mastercard and VoPay announced a strategic partnership that will offer choice, simplicity and efficiency for near-real-time money movement in Canada and internationally for businesses and consumers."
April 12, 2024
On the web
The Danish Cross-Border Payments Provider Has Increased Annual Revenues by 23% to €60M
Fintech Intel
"Inpay, the Danish cross-border payments provider announced strong annual results for 2023...In 2023, Inpay integrated 18 new local markets into its cross-border payments offering."
Japan to Collaborate on Chinese Payment Services With Joint QR Code
Nikkei Asia
"Efforts are underway between Japan and other Asian countries to allow mutual access and use of QR code payment services that are popular in their own countries."
RBI’s Decision on 3rd-Party UPI Apps to Democratise Wallet Market
The News Minute
"Industry experts welcomed the move by the Reserve Bank of India (RBI) to permit the use of third-party UPI apps for making digital payments from prepaid payment instruments (PPI) wallets."
Mastercard, Bank Team up to Ease Cross-Border Money Transfer [Kenya]
IPP Media
"Mastercard and Equity Bank have announced a strategic collaboration that will enable the bank’s customers to send money safely and securely to 30 countries marking a significant milestone for cross-border financial transactions in Kenya."
April 11, 2024
On the web
Bank of China Lets Taxi Drivers Accept Central Bank Digital Currency Payments on NFC Mobile Phones
NFCW
"The Bank of China is conducting a pilot in the city of Shenzhen of a new service that makes it possible for merchants to accept contactless digital currency payments on standard NFC mobile phones."
April 10, 2024
On the web
Brazil’s BV Bank Testing Car Sales as Part of DREX CBDC Pilot
Ledger Insights
Brazil’s BV Bank is involved in one of 16 pilots for Brazil’s wholesale central bank digital currency (CBDC), DREX. It recently shared details about its use case to enable delivery versus payment settlement when buying a car.
April 9, 2024
On the wires
UPI: New Payment Method for India from Centrobill
PR Newswire
"Centrobill announces the integration of the Unified Payments Interface (UPI) for the Indian market...Centrobill's adoption of UPI signifies its commitment to providing state-of-the-art payment technologies that streamline transactions for businesses and their customers alike."
April 8, 2024
On the web
Singapore Tourism Board & PhonePe to Boost UPI Payments for Indian Visitors
IBS Intelligence
"Singapore Tourism Board and PhonePe enter a two-year strategic partnership to promote UPI payments for Indian visitors in Singapore."
FG OF Nigeria Unveil Plans to Launch a New National Identity Card with Payment & Social Service Delivery Capabilities
National Identity Management Commission
"The Federal Government of Nigeria, through the National Identity Management Commission in collaboration with the Central Bank of Nigeria and the Nigeria Inter-bank Settlement System, has launched an innovative identity solution with payment functionality for all types of social and financial services to be powered by AfriGO, a National domestic card scheme."
April 5, 2024
On the web
RBI To Enable Users To Deposit Cash At ATMs Using UPI; Here’s How
MSN
"During the RBI’s Monetary Policy meeting, Reserve Bank Of India Governor Shaktikanta Das announced that users can now deposit cash via UPI facility at bank ATMs."
April 4, 2024
On the web
New RuPay Credit Card Features: EMI, Limit Management Among Other Key Latest Additions Announced By NPCI
MSN
"The National Payments Corporation of India (NPCI) has introduced a set of new features for RuPay Credit Cards on the Unified Payments Interface (UPI) platform, aimed at enhancing user experience and expanding the utility of credit accounts."
April 3, 2024
On the web
PhonePe Partners with Star Health Insurance to Offer Insurance with Monthly Payment Options
PhonePe
"PhonePe announced a partnership with Star Health and Allied Insurance Company Ltd., India’s largest retail health insurance Company, to offer customers health insurance with a monthly and annual payment option."
April 2, 2024
Top Post
AfricaNenda and GIMAC Convened Workshop to Advance Financial Inclusion in Central Africa
AfricaNenda
"Building upon their commitment to driving financial inclusion and digital innovation across Central Africa, AfricaNenda and GIMAC (Groupement Interbancaire Monétique de l’Afrique Centrale) hosted a transformative workshop in March in Douala."
On the web
Brazil’s Pix Payments Are Killing Cash. Are Credit Cards Next?
Yahoo Finance
"In just three years, Brazil's hugely popular Pix payment system has become the country's favorite way to pay, replacing cash and wire transfers in many cases and now threatening the dominance of credit cards in the booming e-commerce sector."
China Digital Currency: Qingdao Metro Facilitates E-CNY Payment Even When User Balance Is Too Low
South China Morning Post
"China’s coastal city of Qingdao in Shandong province has launched a new “deferred payment” feature for metro passengers wanting to use digital fiat money: they can exit the station even if the wallet balance is not enough."
Singapore Amends Payment Services Act to Cover Token Custody and Transfers
Cointelegraph
"On April 2, Singapore’s central bank said it would bring several activities within the scope of the Payment Services Act. This includes providing custodial services for digital payment tokens, facilitating token transfers and exchange and the facilitation of cross-border money transfers."
April 1, 2024
On the wires
ACI Worldwide and Arab Financial Services To Drive Payments Modernization for Banks and Merchants in the Middle East
Business Wire
"AFS, the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, will utilize ACI Enterprise Payments Platform and ACI Payments Orchestration Platform to drive digital payments modernization in the region"
March 29, 2024
On the web
GLN International & AUB to expand QR payment network to the Philippines
IBS Intelligence
"GLN International has signed a Memorandum of Agreement (MOA) with Asia United Bank (AUB), a publicly listed bank in the Philippines, to launch the QRPh cross-border payment service."
Worldline First Global Online Payment Service Provider to Be Authorised by the Turkish Central Bank for International Payments in Partnership With Lidio
Worldline
"Worldline announced that Türkiye’s Central Bank has approved Worldline’s partnership with leading Turkish fintech company Lidio Payment Services Inc to accept payments for global online businesses from Türkiye."
Payments Canada Declares Support for HVPS+ ISO 20022 Payments Interoperability Charter
Payments Canada
"Payments Canada is actively involved in promoting harmonization of the ISO 20022 message usage for high-value payment systems globally and is declaring its support for the High-Value Payments Systems Plus (HVPS+)."
RBI Gives Aggregator Payment License to Amazon Pay [India]
India Infoline
"Amazon Pay, the digital payments arm of ecommerce giant Amazon India, has been granted a payment aggregator (PA) licence by the Reserve Bank of India. It now joins Zomato, Google Pay, Zoho, and others in being eligible to provide online merchant payment services to its customers."
March 28, 2024
On the web
Opinion: Canadian Banking Needs More Competition
Financial Post
"Competition and product innovation are hindered by Canada’s outdated financial infrastructure, which lags the real-time payment settlement and consumer-driven banking that have measurably improved outcomes for consumers in all other G7 countries."
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