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November 6, 2024
On the web
FNB and BankservAfrica Join Forces for Cross-Border Payments Solution
BankservAfrica
"To meet the evolving needs of its customers, FNB has partnered with BankservAfrica for its Transactions Cleared on an Immediate Basis system. This solution will process low value payments within the Common Monetary Area of South Africa, Namibia, Lesotho and eSwatini immediately."
B89 and Pagbrasil Join Forces to Expand Pix in Latin America
Yahoo Finance
"B89, a Peruvian fintech company, has announced that it is partnering with PagBrasil, a pioneer in developing cross-border global solutions for Pix. This collaboration will allow B89 to offer Pix International to merchants outside Brazil including Panama, Colombia, Peru, Bolivia, Paraguay, Venezuela and Ecuador."
UK Payment Scams Targeted With API-Based Service
Mobile World Live
"Industry associations the GSMA and UK Finance outlined the ability of an API-delivered platform to battle authorised push payment fraud in the UK, a service developed in collaboration with local mobile operators and banks."
November 5, 2024
On the web
New Payment Option on eBay: Buy Now, Pay by the Middle of the Next Month in One Invoice
eBay Inc.
"The online marketplace eBay is introducing a new payment option in Germany. eBay shoppers can now use the “monthly invoice” and pay for their monthly purchases in a single invoice they receive on the first calendar day of the month."
Pix by Proximity Is Introduced; See How It Will Work
Valor Investe
"The presentation of Pix by approximation was made in São Paulo. Fábio Coelho, president of Google Brazil, and the president of the Central Bank (BC), Roberto Campos Neto detailed the functionality that arrives first for users of Google's digital wallets and for all Pix users in February 2025. Payments will be made by placing the cell phone near the payment terminal (card machine), using bank accounts previously integrated with Google Wallet."
November 4, 2024
On the web
BIS Steps Back From Digital Payment Project Touted by Putin
Bloomberg
"The Bank for International Settlements is leaving a project for digital cross-border payments after Russia’s president Vladimir Putin identified the underlying technology as a tool to circumvent sanctions and potentially undermine the dollar. [Registration Required]"
Anti-fraud Tool Confirmation of Payee Expanded to Hundreds of More Firms [UK]
PSR
"The Payment Systems Regulator (PSR), marks another significant milestone in its fight to tackle fraud, as hundreds of additional financial firms adopt the name-checking service, Confirmation of Payee (CoP). This expanded rollout means that over 99% of all transactions made through Faster Payments and CHAPS are now safeguarded by this vital anti-fraud measure, offering consumers an important way to protect themselves from fraud."
November 1, 2024
On the web
More Than 2.5 Million Canadians Only Make the Minimum Payment on Their Credit Cards, Says New Research From Fig Financial
Business Wire
"Fig Financial Inc., Canada’s premier personal loan provider, released its Financial Challenges Barometer, which sheds light on the pressing issues faced by Canadians in managing rising costs and debt, underscoring the essential need for accessible financial options."
October 31, 2024
On the web
2024 Annual Review: AusPayNet
AusPayNet
"AusPayNet’s 2024 Annual Review, ‘Making it happen’, reflects on our work throughout FY2024 to help facilitate the continued evolution of payments in Australia."
October 30, 2024
On the web
Latin America’s New Landscape
JPMorgan
"Latin America is not a homogeneous block. It is a tapestry of different political environments, economies and cultures, all with their own nuances. This has created a diverse payments landscape."
October 29, 2024
On the wires
Network International Signs Strategic Partnership With Ant International to Provide New Payment Solutions to Businesses in MEA, Driving Financial Inclusion
Business Wire
"Network International, a leading enabler of digital commerce in the Middle East and Africa, and leading global digital payment and financial technology provider Ant International, have signed a Memorandum of Understanding to extend innovative digital payment solutions to businesses in the Middle East and Africa, driving digital transformation and financial inclusion in the region."
October 28, 2024
On the web
Brazilian Central Bank Director Criticizes Proposed Pix Ban for Online Betting Payments
Yogonet
"Renato Gomes, Director of Financial System Organization and Resolution at the Central Bank of Brazil (BC), voiced criticism regarding a proposed ban on using the instant payment platform Pix for sports betting and online gaming transactions. Speaking at an event hosted by HSBC in Washington, D.C., Gomes argued that restricting Pix payments for certain transactions could lead to unnecessary operational issues."
Singapore Requires Banks, Telecoms to Prevent Scams
Bank Info Security
"Singapore regulators gave banks six months to institute real-time detection tools for blocking impersonation scams or else assume liability for stolen funds. A finalized framework published Thursday also shifts liability onto island-nation telecoms unless they block fraudulent SMS messages."
Project Mandala: Shaping the Future of Cross-Border Payments Compliance
BIS
"Project Mandala – a proof-of-concept run by BISIH Singapore Centre, the Reserve Bank of Australia, the Bank of Korea, the Central Bank of Malaysia, and the Monetary Authority of Singapore, with the collaboration of financial institutions. Project Mandala has demonstrated that regulatory compliance can be embedded in cross-border transaction protocols."
On the wires
Bank of England to Press On With Digital Currency in Case Banks Fall Short, Bailey Says
Reuters
"The Bank of England is reluctantly pressing on with work to create a form of digital money accessible to the general public, as commercial banks risk failing to keep up with less-regulated tech firms, Governor Andrew Bailey said."
October 25, 2024
On the web
Hong Kong Monetary Authority Launches Developer Platform for Data Sharing Initiative
Open Banking Expo
"The Hong Kong Monetary Authority has launched a developer platform in collaboration with the Hong Kong Science and Technology Parks Corporation (HKSTP), as part of its Interbank Account Data Sharing (IADS) initiative."
On the wires
FinMont Announces Strategic Partnership with Leading Payment Provider, The Payments Group
PR Newswire
"FinMont, a payment orchestration platform, announced a strategic partnership with The Payments Group (TPG). This collaboration aims to enhance FinMont's payment ecosystem by integrating TPG's innovative cash and evoucher payment solutions, offering improved payment capabilities for FinMont's global network of travel industry merchants."
October 23, 2024
On the web
Safaricom to Refund M-PESA Transaction Fees to Customers
MSN
"Safaricom PLC has announced an offer for all M-PESA customers as it marks its 24th anniversary in Kenya. In a statement, the telecommunication company said customers will get a refund of transaction fees for their first send-money transaction on Wednesday, October 23."
October 22, 2024
On the web
Tenpay Global & TerraPay to Enable International Money Transfers to more than one billion Weixin and WeChat Users
PR Newswire
"TerraPay, a global leader in cross-border money movement, has announced a strategic partnership with Tenpay Global, Tencent's cross-border payment platform renowned for its innovative financial services through the Weixin ecosystem."
MeaWallet Partners with Toqio to Expand its Digital Card Capabilities
Meawallet
"MeaWallet a digital payments enabler specialising in card tokenization announced its partnership with Toqio, a technology platform for B2B embedded finance for businesses, to enhance its digital card capabilities for corporate customers in the UK and Spain."
Tinaba with Banca Profilo Becomes Europe’s First Fintech to Integrate Alipay+ Mini Programs
TravelDailyNews International
"Tinaba, Italy’s leading fintech app in partnership with Banca Profilo, has become the first European fintech to integrate Alipay+ Mini Program solution, transforming itself into a Super App. The integration of technology by Ant International enables Tinaba to develop an open platform for 3rd party developers to publish Mini Programs inside its app."
NPCI Partners with Times of India to Promote Digital Payment Safety through RK Laxman’s "Common Man”
NPCI
"National Payments Corporation of India (NPCI), the organisation driving innovation and powering India's digital payment revolution, has announced an exciting partnership with The Times of India to launch a nationwide campaign focused on digital payment safety."
October 21, 2024
On the web
BNY, Mizuho Announce Partnership On Trade Services
Global Finance Magazine
"BNY and Mizuho Bank, the oldest banks in the US and Japan, respectively, announced an agreement to expand their correspondent bank network to help facilitate international trade. Powered by BNY’s Trade Network Access Service, the agreement allows both banks to access each other’s Relationship Management Applications (RMAs)."
Fraud Continues to Pose a Major Threat to the UK and Cause Serious Harm to Individuals and Society
UK Finance
"In the first half of 2024 just over £570 million was stolen in payment fraud as criminals continue to ruthlessly target people and try to deceive them into making payments or providing enough information to enable their accounts to be accessed or controlled."
Why Mobile Payment Is Booming in Africa
The Independent Uganda
"On the bustling streets of Nairobi, the green glow of the M-Pesa (a mobile money platform) logo is inescapable, from high-end hotels to street vendors. Across Africa, digital payments are booming, with 17 percent of consumers using them daily and nearly half at least weekly in 2023."
DBS [Singapore] Rolls Out Blockchain-Powered Banking for Institutions With DBS Token Services, Marks New Milestone in Financial Services [Video]
DBS
"DBS announced the introduction of DBS Token Services – a new suite of banking services that integrate tokenisation and smart contract-enabled capabilities with its banking services for its institutional clients. DBS Token Services unlocks instant, 24/7 real-time settlement of payments by integrating the bank’s Ethereum Virtual Machine-compatible permissioned blockchain, its core payment engine and multiple industry payment infrastructures."
Aigens [Hong Kong] Integrates Adyen for Platforms to Transform Food and Beverage Sector
Adyen
"Adyen announced its partnership with Aigens, a Hong Kong-based food and beverage (F&B) software-as-a-service (SaaS) provider. Through this collaboration, Aigens incorporates Adyen’s payment capabilities in its Aigens Pay offering, helping restaurants in Hong Kong and Singapore optimize their front- and back-of-house operations with a single omnichannel solution."
October 18, 2024
On the web
Brazil’s Pix Set to Enhance Recurring Payments Capabilities as Subscription-Based Services Grow
The Fintech Times
"Dubbed Pix Automático, the new capability is aiming to significantly enhance recurring payments in Brazil, positively impacting Latin America’s largest digital commerce market. EBANX is taking the lead for the new launch and is preparing to integrate global merchants with the new feature."
Kenya's Central Bank to Launch Instant Payment System Across Banks, Fintechs
TechCabal
"The Central Bank of Kenya wants to develop a new instant payment system, the biggest advance in the country’s money transfer network. The Fast Payment System, will allow instant transactions across all financial institutions, including banks and payment service providers."
October 17, 2024
On the web
Broadridge Launches Instant Payments Service, Aligned with New EU Regulations
PR Newswire
"Broadridge Financial Solutions, Inc., a global Fintech leader, announced the launch of its highly resilient and scalable managed service for connectivity, message processing and workflow management for instant payments. The Broadridge service supports real-time money transfers, operating 24/7/365, with transaction processing times of under 10 seconds from payer to beneficiary."
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