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February 4, 2021
On the wires
Mastercard and Oracle Team Up to Speed Social and Economic Assistance
“As the need for economic relief and assistance continues to grow around the world, so do the complexities and challenges in meeting those needs. Mastercard and Oracle hope to change that through the launch of an automated, end-to-end solution to help governments, non-profits and financial services firms streamline the delivery of economic assistance around the world.”
October 10, 2019
On the wires
Ingenico Launches Full Suite of Chinese Payment Methods for International Ecommerce Players
“As 82% of the local Chinese population are unique mobile users, Ingenico has partnered with leading mobile payment platforms, Alipay and WeChat Pay, as well as with local card scheme UnionPay. Ingenico is one of the very first international payment service providers (PSP) to support all use cases for WeChat Pay, including the capability to integrate into WeChat Official Accounts and Mini-Programs. This is a crucial advantage that allows the 1.1 billion WeChat users to complete their purchase without leaving the WeChat environment.”
June 26, 2019
On the web
Facebook’s Cryptocurrency, Libra, Could Be a Boon for Developing Nations Like India
Quartz India
“Facebook’s Libra cryptocurrency has taken a lot of criticism from Western government officials and media commentators —but it’s not meant for them. A major target market for the Libra is users in developing countries . From researching cryptocurrency , blockchain and other technologies in the context of developing countries , I can see that digital payment systems are already attractive. Libra may potentially be even more so , because Facebook has the money and technological advances that could make Libra easier than many existing methods.”
March 18, 2019
On the web
IBM Launches A Blockchain-Based Global Payments Network Using Stellar’s Cryptocurrency
Forbes
“IBM Blockchain World Wire will help financial institutions improve the services they deliver to their consumers by optimizing and accelerating foreign exchange, cross border payments and remittances. Using the Stellar protocol, World Wire serves as a network provider for international payments, enabling point-to-point money transfers in lieu of the complexities of conventional correspondent banking. While IBM announced an initial pilot of World Wire in October 2017, today the network is officially accessible in a growing number of markets.”
On the wires
IBM Blockchain World Wire, a New Global Payment Network, to Support Payments and Foreign Exchange in More Than 50 Countries
“Designed to optimize and accelerate foreign exchange, cross border payments and remittances, World Wire is the first blockchain network of its kind to integrate payment messaging, clearing and settlement on a single unified network, while allowing participants to dynamically choose from a variety of digital assets for settlement.”
January 3, 2019
On the wires
ACI Worldwide Propels National Bank of Kuwait to Become Country’s First Bank to Implement SWIFT gpi
“ACI Worldwide, the first certified vendor of SWIFT gpi solutions and a SWIFT partner for more than twenty years, enables banks around the world to take full advantage of real-time, cross-border payment opportunities with a direct connection into the SWIFT central database to monitor inbound and outbound gpi transactions. The gpi Data Service and gpi Connect capabilities are available as part of ACI’s UP Real-Time Payments solution and ACI Money Transfer System.”
December 13, 2018
On the web
Finablr’s UAE Exchange, Ripple to begin blockchain payments by first quarter
Reuters
“Asia was one of the biggest recipients of the roughly $613 billion in remittances sent globally last year, with a large swathe coming from expatriate workers in the Middle East, where UAE Exchange, part of payments and foreign exchange company Finablr, is one of the main players. Most funds are currently sent through foreign exchange branches but a growing chunk is being transferred via websites and apps, with the use of blockchain technology expected to ramp up in the next few years — a transition that UAE Exchange and San Francisco-based Ripple are aiming to capture.”
November 2, 2018
On the web
Banks Struggle With Global Payments That Look Easy for Venmo
Bloomberg
“Payment apps — such as Chinese juggernauts Alipay and WeChat Pay — are making the movement of money look so easy that banks’ biggest customers are losing patience with the global patchwork that’s handled their funds for decades. Such apps have barely started serving multinationals, but their presence is putting pressure on financial firms to up their game, or risk losing their grip on another business.”
June 1, 2017
On the web
Wells Fargo Customers Use Debit/Prepaid Cards More Than Any Other U.S. Issuer
“Wells Fargo & Company (NYSE:WFC) announced today that, for the first time, its customers are now the country’s largest users of debit and prepaid cards by purchase volume, according to 2016 data issued by The Nilson Report. The new ranking, released in The Nilson Report’s April 18, 2017 issue, shows Wells Fargo customers used their debit and prepaid cards to purchase more than $306 billion in goods and services in 2016.”
On the wires
Zain signs MoU with Mastercard to boost digital payment services in Jordan
“Zain has signed a strategic partnership agreement with Mastercard, a leading technology company in the global payments industry, to boost digital payment services in Jordan through ‘Zain Cash’ mobile wallet service powered by Mastercard.”
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