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June 2, 2023
On the web
Japan’s New Stablecoin Framework Could Spur US To Act
Blockworks
"As Japanese banks get set to issue stablecoins under new legislation, the US’ lack of regulatory clarity in the segment is one hurdle blocking institutions in the country from doing the same."
China Is Doubling Down on its Digital Currency
Foreign Policy Research Institute
"China’s central bank continues to take aggressive steps toward assimilating the digital yuan within its domestic financial system. Despite these efforts, less than a fifth of the Chinese population have utilized it."
First Real-World, Cross-Border Settlement Using Australian CBDC Completed Through NexPay and Monoova
The Fintech Times
"The Reserve Bank of Australia (RBA), in collaboration with the Digital Finance Cooperative Research Centre (DFCRC), held an invitation-only conference in Sydney for participants in the Australian Central Bank Digital Currency (CBDC) pilot project. In a live demonstration, Monoova’s CTO Nicholas Tan, successfully completed the first real-world, cross-border settlement using the pilot CBDC."
Social Media Sites are Wild West for Shopping Fraud, Says UK Bank
The Guardian
"More than two-thirds of all online shopping scams affecting UK consumers start on Facebook and Instagram , with social media now a “wild west” for fraud, according to one of Britain’s biggest banks."
On the wires
Kenya Central Bank Says Digital Currency Not a 'Compelling Priority'
Reuters
"Kenya's central bank does not consider the issuance of a digital currency a "compelling priority" but it will continue monitoring developments in the area to help future decisions on issuance, it said on Friday."
June 1, 2023
On the web
PIX Grows in 2022 and Becomes the Main Market Instrument, with 29% of Transactions, says BC
G1
"PIX, an instant payment system, gained market share in payment instruments and reached 29% of all transactions registered in 2022, against 16% of the total in 2021. The information was disclosed by the Central Bank this Wednesday (31) ."
Tassat Group Intros Multi-Currency Solution for Banks
www.atmmarketplace.com
"Tasat Group Inc., a digital payments solutions provider for banks, has introduced multi-currency functionality on its platform. With this function, banks will be able to create and hold wallets to handle transactions of multiple currencies, starting with the G7 countries of Canada, France, Germany, Italy, Japan, U.K. and the U.S., according to a press release."
On the wires
Localramp Revolutionizes Payments in Africa with Instant Stablecoin Settlement and USD Payouts
PR Newswire
"Localramp, a modern Pan-African payment gateway, has launched a service that enables businesses operating within the continent to accept local currencies and instantly receive USDT, which can be withdrawn at any time or converted into USD on the platform."
UnionPay International Partners with Pecunpay to Issue UnionPay Card, Empowering Spanish Tourists and companies with a Fast, Safe, and Smooth Payment Experience Traveling in China
PR Newswire
"UnionPay International (UPI) and Pecunpay recently announced the launch of the UnionPay card that empowers cardholders with a fully accepted payment method when travelling in China."
Mesh Payments Expands Across Europe, UK, and Asia to Support Global Enterprises with Unified Spend Management in Local Currencies
PR Newswire
"Today Mesh Payments announced expansion of its unified spend management platform to support global multinational businesses operating in Europe, UK, and Asia in local currencies. Mesh now enables companies to operate globally across international entities, issue local cards and settle in local currencies all from one unified platform."
Crypto.com Obtains Major Payment Institution Licence from Monetary Authority of Singapore
PR Newswire
"Crypto.com announced today that it has received its Major Payment Institution (MPI) licence for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS)."
May 31, 2023
On the web
LatAm Fintechs Propose Joint Open Finance Regulation
Fintech Nexus News
"In a landmark development, fintech associations from Mexico, Colombia, Peru, and Chile made a significant stride last week by publishing a document proposing joint standards for Open Finance."
Italian Shops, Financial Firms Seek Antitrust Line to Cut Card Payment Fees
Nasdaq
"Italian retailers, banks and payment firms have agreed to cut fees on small-sized card payments as demanded by the government, sources familiar with the matter said, but now want assurances from the Antitrust body that the deal does not harm competition."
‘Some Payment Systems in Africa are Surpassing Those in the Western World’
African Business
"In this interview, African Business delves into the world of digital public infrastructures (DPIs) with Michael Wiegand, director of the Gates Foundation’s Financial Services for the Poor strategy, and Konstantin Peric, deputy director for platforms."
China's UnionPay Surpasses Visa with Largest Market Share of Debit Card Transactions: Nilson Report
Global Times
"China's UnionPay surpassed Visa for the first time in 2022, securing 40.03 percent of global debit card transactions, China Media Group (CMG) reported on Sunday, citing latest statistics compiled by industry platform Nilson Report."
CTC International Services First in the World to Develop Android Phone to Android Phone NFC Payment
EIN News
"CTC International Services a leading technology solutions provider, is proud to announce the successful development of an innovative NFC-to-NFC mobile payment solution."
May 30, 2023
On the web
RevoluGROUP Canada Inc. Launches RevoluPOS Worldwide Credit and Debit Card Processing
GlobeNewswire News Room
"RevoluGROUP Canada Inc., (the "Company") is pleased to announce that further to the news release dated 24th of March 2023, the RevoluPOS Worldwide Credit and Debit Card Billing and processing platform has now launched on schedule."
May 26, 2023
On the web
CaixaBank Becomes the First Financial Institution in Spain to Launch an App that Allows Mobile Phones to be Used as Point of Sale Devices, Without the Need for an Additional Device
Caixa Bank
"CaixaBank launches Smartphone TPV, a solution designed for businesses, professionals and the self-employed of any size and sector, enabling them to easily accept card payments of any amount from mobile devices, without the need for an additional device, as was previously necessary."
A Guide to Modernizing Payments in the Financial Sector
Policy Options
"Canada must act swiftly to remain on track with modernizing its financial sector policies that affect how consumers make payments. Other countries are adopting fintech innovation at a much faster pace, leaving Canadians with limited consumer choice and competition among financial service providers compared with other parts of the world."
Warren Buffet-Backed Nubank, Visa, Mastercard to Join Brazil’s CBDC Pilot
Forkast
"Banco Central do Brasil, the central bank of Brazil, has selected 14 institutions to participate in the pilot run of the country’s central bank digital currency (CBDC) named Real Digital."
May 25, 2023
On the web
Japan Enforces "Travel Rule" for Crypto Exchanges in June
FinanceFeeds
"Japan is preparing to enforce stricter anti-money laundering measures, which will include the implementation of the “travel rule” recommended by the Financial Action Task Force (FATF)."
On the wires
New Zealand Banks Move to Processing Payments Seven Days a Week
Reuters
"The majority of New Zealand bank customers will be able to send and receive local payments seven days a week, starting on Friday, the local payments overseer said. Payments NZ, which manages New Zealand's core payment clearing systems said in a statement that from Friday, electronic bank payments made on public holidays and weekends can now go through on the same day, every day of the year."
Singapore-Headquartered AI Credit Modeling FinTech finbots.ai to Transform Credit Risk Management for Cambodia's Leading Commercial Bank, Sathapana Bank
PR Newswire
"Accel-backed finbots.ai, a Singapore headquartered B2B SaaS FinTech today announced signing Sathapana Bank—Cambodia's leading commercial bank—as their latest client. With this, finbots.ai's fast growing client case has extended to 9 countries across APAC and MEA markets."
May 24, 2023
On the web
Woolworths Rolls Out a Big Change to the Way People Shop
Australian Financial Review
"Woolworths will start moving payments on to Australia’s real-time payments system as a cheaper alternative to the card networks controlled by Visa and Mastercard, a move it says will reduce fraud while driving customers to its digital wallet and rewards program. The supermarket has become the first major company to offer customers an option to link their bank account directly to its app, using PayTo functionality introduced by Australia’s new payments platform."
Chinese CBDC Digital Yuan Drive SME Loans to Outspread Its Use
The Coin Republic
"According to Changsha Evening News, small and medium enterprises (SMEs) can apply for loans using the digital Yuan. The first transaction was done in the city of Changsha in Hunan province. Three SMEs successfully obtained loans. The three firms received loans of 583,000 yuan which is around $83,300, after the Hunan Provincial Department of Science and Technology acknowledgment. The funds were processed through the Bank of Communication. It is a commercial bank assisting the PBoC with the digital yuan pilot program."
EBANX: We Will Be Operating in 11 African Countries by the End of the Year
TechCrunch
"For all the talk about emerging markets and their similarities, moves involving African startups expanding to Latin America are rare. Only two significant activities come to mind recently: Migo’s expansion to Brazil and Paga’s planned move to Mexico, their respective second markets outside Africa."
KIB - the First Bank to Launch Next Generation Biometric Cards from Zwipe to Visa Infinite Clients
Marketscreener
Kuwait International Bank (KIB) takes the lead worldwide as the first commercial launch of biometric payment cards based on Zwipe's platform. This innovative card will be offered to the elite VIP clients of the bank under the Visa Infinite Black product.
May 23, 2023
On the wires
The DCMA Explains Why an International CBDC is the Best Innovation for Store of Value and Medium of Exchange
PR Newswire
"At the International Monetary Fund (IMF) Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) announced the official launch of Unicoin, an international central bank digital currency (CBDC), that can transact SWIFT-like cross-border payments over digital currency rails completely bypassing the correspondent banking system at guaranteed best-priced FX rates and with instantaneous real-time settlement."
May 22, 2023
On the web
Apple Pay on a Roll, and the Banks are Rattled to Their Cores (Australia)
Australian Financial Review
"Inside Apple, it was known as Project Muirfield. Not only would the iPhone be able to make payments, but accept them too. This week the plan came to life in Australia. The US technology giant said Westpac and Tyro would be the first banks to allow business customers to download an app to receive payments from customers with their iPhone, rather than through a payment terminal."
On the wires
Australia Hits Buy-Now-Pay-Later Sector with Consumer Credit Law
Reuters
"Australia said it would regulate buy-now-pay-later services as a consumer credit product under new laws, forcing BNPL providers to carry out background checks before lending in what would be one of the world's toughest regimes for the startup sector."
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