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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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September 25, 2025
On the web
Digital Euro May Be Rolled Out in Mid-2029, ECB’s Cipollone Says
Luxembourg Times
"The digital euro could become a reality in 2029 as efforts intensify to get the long-running project off the ground, according to European Central Bank executive board member Piero Cipollone. The ECB has been pushing for a digital euro for years in a bid to reduce the region’s reliance on firms like Visa and PayPal for retail payments."
RBI Allows Risk-Based Checks in New Digital Payment Guidelines [India]
The Economic Times
"As digital payments become an integral part of everyday life in India, the Reserve Bank of India (RBI) has taken a significant step to enhance the security of these transactions. Currently, most digital payments in India rely on SMS-based One Time Passwords (OTP) as a second factor of authentication. However, recognizing the rapid advancements in technology and the evolving landscape of cyber threats, the RBI has mandated that all digital payments must now be secured by at least two distinct factors of authentication. Importantly, at least one factor must be dynamic--unique to each transaction--to prevent fraud and unauthorized access."
On the wires
European Banks to Launch Euro Stablecoin in Bid to Counter US Dominance
Reuters
"A consortium of nine European banks, including ING and UniCredit, said they are forming a new company to launch a euro-denominated stablecoin, a move they hope will help counter U.S. digital market dominance."
September 24, 2025
On the wires
EBANX Enables Pix Recurring Payments for Hotmart, Leading to a 32-Point Retention Increase
PR Newswire
"Hotmart, a global technology company and leader in digital business in the Creator Economy, announced strong performance results following the adoption of Pix Automático, Brazil's new recurring feature within the real-time payment system Pix. Integrated through EBANX, a global fintech specializing in payments for emerging markets, Pix Automático has been live on the Hotmart platform since June 16, the first day of the feature's operations."
September 23, 2025
On the web
NPCI Eyes EMI Payments on UPI in Fresh Credit Play Push
The Economic Times
"NPCI is focusing on expanding credit offerings on UPI, aiming to allow users to convert QR code payments into EMIs (monthly installment). This move follows the success of RuPay credit cards and credit lines on UPI, with fintech firms expected to soon enable EMI options during UPI transactions."
ECB Paper Explores What Makes Stablecoins a “Fungible” Means of Payment
Ledger Insights
"The European Central Bank published a notable paper on stablecoin fungibility. This is not related to the debate around fungibility of EU versus foreign stablecoins, where the EU’s comparatively generous redemption rules are causing concerns that a run on a US stablecoin could encourage foreigners to redeem from the EU version of the same stablecoin. Instead, the paper explores a broad definition of fungibility. The authors focus on stablecoins, but note that the framework outlined also applies to retail CBDCs."
September 22, 2025
On the web
Wero Has Successfully Positioned Itself on Payments and Is Preparing Its Entry Into the Online and In-Store Payment Market
EPI Company
"The European Payments Initiative (EPI), presents the results of its first twelve months of official activity and unveils the outlines of the launch of its e-commerce payment solution, expected in 2026. Available since the second half of 2024 for transactions between individuals in Belgium, France and Germany, Wero already has more than 43.5 million registered users. Designed as an alternative to international payment systems, Wero offers Europeans a secure and seamless mobile payment solution."
Toyota, BYD, Yamaha Spice Bolivia Payments With USDT
Live Bitcoin News
"In Bolivia, Toyota, BYD, and Yamaha allow paying with USDT to purchase a vehicle or services, which was verified by the Tether CEO, Paolo Ardoino, on X. This is an initiative between ToyoTa S.A. and Crown Ltda., BitGo Trust Company, and Tether, as well as Towerbank. Customers may now buy vehicles, auto parts, and services with the USD -USD-stablecoin of Tether."
September 19, 2025
On the web
Vipps MobilePay Selects Tink to Power Pay by Bank for P2P in Finland
Open Banking Expo
"Vipps MobilePay and Tink, A Visa Solution, have announced a new partnership under which Vipps MobilePay will use Tink’s Pay by Bank to power peer‑to‑peer (P2P) payments in Finland. Vipps MobilePay is the Nordics’ leading mobile wallet with more than 12 million users across Norway, Finland, Sweden, and Denmark, processing over one billion payments annually."
September 18, 2025
On the web
Paytm Launches ‘Spend Now, Pay Next Month’ Postpaid on UPI
India
"Paytm Postpaid transforms day-to-day payments with rapid short-term credit directly within the UPI network. In contrast to other Buy Now, Pay Later (BNPL) products that operate through a separate app or an additional checkout stage, this service uses India’s most-used payment app, UPI."
Japan Extends Work on Stablecoins for Convenience Store E-commerce Payments
Ledger Insights
"Japan has a network of over 65,000 convenience stores where many people use cash to pay utility bills or even for e-commerce orders, a practice referred to as konbini payments. In August, a key service provider for these stores entered a deal to start enabling people to send stablecoin remittances from these convenience stores. Now further details have been shared about an existing deal with a stablecoin issuer, with the scope of collaboration appearing to include domestic payments as well as cross border."
Ant International Becomes China’s First Foreign Payment Gateway Partner
Electronic Payments International
"Ant International has been appointed as an inaugural foreign Institution Partner (FIP) for China’s Cross-border Interconnection Payment Gateway (CPG), a scheme overseen by the People’s Bank of China and the Payment & Clearing Association of China (PCAC). Under the arrangement, Alipay+ — Ant International’s cross-border payment and digital services arm — will use the direct connection to broaden its partner network and international reach."
September 17, 2025
On the web
PhonePe, Paytm, Cred Shut Down Rent Payment Feature After RBI Curbs
MSN
"The Reserve Bank of India’s move to tighten regulations for payment aggregators has prompted some of India’s largest fintech firms, including PhonePe, Paytm and Cred, to stop rent payments on their platforms, according to a Moneycontrol report. The central bank’s new rules prohibit payment aggregators from acting as marketplaces—which previously allowed them to process rent payments."
On the wires
PayPay Is Now Accepted in South Korea Via Ant International’s Alipay+
Business Wire
"Starting from late September 2025, Japan's leading cashless payment service PayPay will be accepted at over 2 million merchants across South Korea through Alipay+, a global wallet gateway service operated by Ant International. This will allow its 70 million registered users to make seamless payments during their visit, wherever the Alipay+ logo is displayed."
September 16, 2025
On the web
RBI Fines PhonePe for Regulatory Lapses, Sends a Clear Warning to Fintechs
The420
"The Reserve Bank of India (RBI) has imposed a fine of ₹21 lakh on digital payments company PhonePe for violating norms related to prepaid payment instruments (PPIs). The penalty underscores the central bank’s tightening grip on India’s fast-expanding fintech sector. Regulators found that the company failed to adequately inform customers about account balances and did not fully comply with mandated disclosure requirements."
Milestone for the Swiss Financial Center: Deposit Token Proof of Concept Successfully Completed
Swiss Bankers Association
"Under the umbrella of the Swiss Bankers Association (SBA), PostFinance, Sygnum Bank, and UBS have conducted a Deposit Token feasibility study. The results report published today forms the basis for a standardized infrastructure for blockchain-based financial services in Switzerland. For the first time, banks have carried out a legally binding payment across institutions using bank deposits and a public blockchain – a milestone for the entire financial center."
BNP Paribas Partners With Wero for E-commerce Payment Solutions
BNP Paribas
"A step further towards European sovereignty in the payments sector: EPI (European Payments Initiative), in which BNP Paribas holds a stake, is actively pursuing its goal of creating a benchmark digital payment solution in Europe with Wero. In its first year of operation in Germany, France and Belgium, the solution gained over 43 million registered users for private transactions. Wero is now accelerating deployment through strategic partnerships and preparing for an e-commerce launch in 2026."
September 15, 2025
On the web
UPI Joins Hands With Global Postal Network to Reshape Cross-Border Payments
IBS Intelligence
"The announcement of UPI–UPU integration at the Universal Postal Congress in Dubai has been hailed as a landmark moment in the global payments industry, with FinTech leaders highlighting its potential to reshape cross-border remittances and set new benchmarks for financial inclusion. By merging the universal reach of postal networks with the speed, affordability, and interoperability of India’s Unified Payments Interface (UPI), the UPI–UPU integration promises a fundamental shift, making cross-border transactions faster, safer, and significantly more cost-effective."
Alipay+ and Grab Make Ride Hailing Services Available to Global Digital Wallet Users via Alipay+ Voyager
Ant International
"Alipay+, Ant International’s global wallet gateway, and Grab, Southeast Asia’s leading superapp, announced the integration of Grab’s ride-hailing services into Alipay+ Voyager, its inbuilt end-to-end AI travel agent. This will make local transportation services in Southeast Asia more accessible for users of Alipay+ Voyager, who can now book rides directly from within their digital wallets."
The Retail Payments Infrastructure Board (RPIB) [UK]
Bank Of England
"On 15 July 2025, the Payments Vision Delivery Committee (PVDC) announced a new model to deliver the next generation of UK retail payments infrastructure, supporting businesses and consumers across the economyOpens in a new window. The new model embeds public and private sector collaboration, utilising the right expertise in the right functions to drive transformation. The Bank of England will set up and chair the Retail Payments Infrastructure Board (RPIB), which will include broad representation across the payments ecosystem (banking sector, fintech as well as merchants and end users)."
September 10, 2025
Top Post
India Delays Crypto Regulation Amid Concerns of Systemic Risks
CoinCentral
"RBI warns that regulating cryptocurrencies could legitimize the sector and increase systemic financial risks. India has not fully regulated crypto, fearing that it may disrupt its financial system by legitimizing digital assets. Despite its hesitation, India has imposed taxes on crypto gains and set rules for global exchanges operating locally. RBI notes that stablecoins’ widespread use could weaken India’s digital payment systems, including UPI."
September 9, 2025
On the web
PhonePe, GPay Hit Record UPI Volumes in Aug, but Smaller Apps Eat Into Market Share
CNBCTV 18
"Digital payment leaders PhonePe and Google Pay registered their highest-ever transaction volumes in August 2025, even as their combined market share slipped, highlighting the growing traction of smaller UPI apps and the deepening adoption of merchant payments across categories. PhonePe commanded a market share of about 45.7%, Google Pay another 35.3% and Paytm about 7%. Challengers like Navi, CRED and super.money are steadily expanding their presence."
Amazon Pay India CEO Bats for Balanced MDR to Support Stakeholders
Business Standard
"A non-arbitrary merchant discount rate (MDR) on Unified Payments Interface (UPI) transactions should be determined after discussions between the regulator and industry, Amazon Pay India chief executive officer (CEO) Vikas Bansal told Business Standard on Tuesday...The remarks come at a time when the payments industry is closely watching regulatory discussions around MDR on UPI transactions, which have significant implications for the growth and sustainability of digital payments in India."
AIB, Bank of Ireland and PTSB Set to Rollout Major New Banking Feature Within Months [Zippay]
MSN
"Irish banking customers are set to see the rollout of a new feature as three major banks will be implementing a new Revolut style service. AIB, Bank of Ireland and PTSB have said they will launch Zippay, a brand new service that will offer person-to-person mobile payment. It is set to launch in early 2026."
September 8, 2025
On the web
Central Bank Flags Security Gaps in Payment System After Hacks [Brazil]
Valor International
"Brazil’s Central Bank has completed an investigation into the vulnerabilities that enabled three hacker attacks on institutions operating at the core of Pix, the country’s instant payment platform. It is now preparing a set of measures to prevent further criminal incursions. The issues were found in three main areas: payment institutions operating without prior authorization from the Central Bank; weaknesses at IT service providers, known as PSTIs, that connect smaller banks to the payment system; and the use of pooled accounts, where client funds are moved without individual identification."
September 5, 2025
On the web
UPI Payments: Higher Transaction Limits For Select Merchants Starting Sept 15
MSN
"The National Payments Corporation of India (NPCI) has raised the UPI transaction limit to Rs 5 lakh for select categories linked to tax payments, starting September 15, 2025. This update will allow verified merchants in these categories to handle bigger payments seamlessly, reflecting the growing reliance on UPI as India’s go-to digital payment mode."
On the wires
In Lithuania, the Digital Euro Is No Longer Theory — It’s Infrastructure
Reuters
"With legislative groundwork nearly complete and prototypes in development, Lithuania is emerging as one of the most prepared — and most motivated — backers of the digital euro: a central bank digital currency (CBDC) designed to complement cash, operate offline, and offer a pan-European alternative to Visa, Mastercard, and Big Tech."
September 4, 2025
On the web
Thousands of Scammers Are Impersonating the Financial Watchdog – [UK]
MSN
"The financial watchdog has warned consumers to be on the alert for fraudsters impersonating its staff. It warned that one of the most common scam methods is fraudsters claiming that the FCA has recovered funds from a crypto wallet that was opened illegally in the individual’s name. Another common method is to target loan scam victims, who are often very vulnerable, and claim the FCA can help them recover the money they have lost. They are then persuaded to hand over further funds."
September 3, 2025
On the web
Bank of England Overhauls Core Payments System Settling £800bn a Day
Tech Informed
"The Bank of England has completed a multi-year overhaul of the UK’s Real-Time Gross Settlement (RTGS) service, marking one of the most significant upgrades to the country’s financial plumbing in decades. RTGS is the backbone of wholesale payments: it allows financial institutions to move money between each other instantly, in “real time” and on a one-to-one basis, rather than netting off positions later."
On the wires
MoonPay Expands Payment Options with Interac e-Transfer® in Canada
PR Newswire
"MoonPay, the global leader in crypto payments, has announced the launch of Interac e-Transfer® as a new payment method for Canadian customers, making it easier than ever to buy digital assets using one of Canada's most trusted payment networks. With Interac e-Transfer, MoonPay users in Canada can now seamlessly fund transactions in Canadian dollars directly from their bank accounts, providing a secure, fast, and familiar checkout experience."