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November 11, 2024
On the web
BankservAfrica Announces the SARB’s Intention to Acquire 50% of the Company
BankservAfrica
"BankservAfrica is pleased to announce a significant industry collaboration with the South African Reserve Bank (SARB), intended to transition the company into a national Payments Utility through a collaboration with commercial bank shareholders."
American Express and MX Announce Customer-Permissioned Data Sharing Agreement to Expand Digital Finance Management for Customers
MX
"American Express announced an API-powered data access agreement with MX Technologies, Inc. that will now be able to better manage their personal finances and business expenses via secure connections of their American Express accounts with third-party financial institutions and fintech apps through MX."
Over 30 Financial Institution in Southern Africa To Adopt BankservAfrica’s Cross – Border P2P Clearing System
BitKE
"Over 30 financial institutions from countries within the Common Monetary Area – such as South Africa, Eswatini, Lesotho, and Namibia – are set to adopt BankservAfrica’s instant cross-border payment system, according to Ruhling Herbst, the organization’s strategy and transformation officer. [Video]"
On the wires
AEON Launches Crypto Payment on BNB Chain to Bring Crypto Payments to Southeast Asia
PR Newswire
"AEON has brought a streamlined QR code payment system to BNB Chain with Terminus to expand crypto payment accessibility in Southeast Asia, providing crypto payment experience that significantly boosts convenience for both users and merchants."
November 8, 2024
On the web
Central Bank Digital Currency: Progress And Further Considerations
International Monetary Fund
"The paper briefs the Executive Board on the further considerations on CBDC. These cover the positioning of CBDC in the payments landscape, cyber resilience of the CBDC ecosystem, CBDC adoption, CBDC data use and privacy protection, implications for monetary policy operations, and cross-border payments with retail CBDC."
Tencent Joins Visa to Facilitate Palm Payments in Singapore
IBS Intelligence
"Tencent has announced a partnership with Visa to introduce its palm recognition technology for digital payments in international markets. The service will first be rolled out in Singapore, where Visa cardholders from participating banks, including DBS, OCBC, and UOB, will participate in the pilot program."
DLocal, Viva Aerobus Partner to Ease Payments for Travellers
Electronic Payments International
"Cross-border payments platform dLocal has forged an alliance with Viva Aerobus, a Mexican ultra-low-cost airline. This partnership aims to simplify local payment processing for travelers in Mexico, the USA, and Colombia."
On the wires
Ecobank Partners With Nium to Unlock Real-Time Cross-Border Payments Across 35 African Markets
PR Newswire
"Nium, a global infrastructure provider for real-time cross-border payments, today announced a partnership with Ecobank Transnational Incorporated, an independent pan-African financial services group, to enable seamless cross-border payments across 35 African markets for more than 32 million customers."
November 7, 2024
On the web
CFPB Orders NFCU to Pay More Than $95 Million for Illegal Surprise Overdraft Fees
Consumer Financial Protection Bureau
Today, the Consumer Financial Protection Bureau took action against Navy Federal Credit Union for charging illegal overdraft fees. From 2017 to 2022, Navy Federal charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases, even when their accounts showed sufficient funds at the time of the transactions.
UBS Digital Cash Piloted for Blockchain-Based Multi-Currency Payments
Ledger Insights
UBS is the latest bank to launch a blockchain-based solution targeted at corporates and institutions. Given there are often delays with crossborder payments, the appeal is the ability to instantly move money between different UBS branches dotted around the world.
EU Regulators Investigate if Visa, Mastercard Fees Harm Retailers, Document Shows
Reuters
EU antitrust regulators are investigating whether the fees charged by Visa and Mastercard have a negative impact on retailers, an EU document seen by Reuters showed. The European Commission, which enforces EU competition rules, sent questionnaires about both Visa and Mastercard to retailers and payment service providers in September, giving them until October to respond.
November 6, 2024
Top Post
Mastercard Goes OTP-Free in APAC for Faster, Safer Online Transactions
PR Newswire
"As payments become more intricate, Mastercard announced the latest enhancement to its new Mastercard Payment Passkey Service which enables secure, on-device biometric authentication through facial scans or fingerprints, the same way consumers unlock their phones every day."
On the web
Nium and Partior to Offer Real-Time Multi-Currency Payments
IBS Intelligence
"Nium, the global infrastructure for real-time cross-border payments, has announced a partnership with Partior , the blockchain-based FinTech for clearing and settlement, at the Singapore FinTech Festival 2024."
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."
Visa Collaborates With QR Payment Providers to Enable Cross Border Payments Across Asia Pacific
PR Newswire
"Visa, a global leader in digital payments, announced collaborations with QR payment providers to allow consumers to use their digital wallets to scan and pay at point-of-sale QR when they travel abroad. The pilot program will begin in Singapore, with more to be rolled out across the region in the coming year."
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."
One-In-Three Consumers Have Cancelled Subscription Due to Billing Issues
Chain Store Age
"Payment issues are the number one reason for consumers canceling their subscription service. That’s according to new data from payment processing platform Solidgate, which revealed that one-in-four consumers surveyed have had upsetting unexpected charges from a subscription service, and 80% wouldn't recommend a subscription service to a friend if they had trouble canceling it."
Introducing Kinexys by J.P. Morgan, formerly Onyx
JPMorgan
"For nearly a decade, J.P. Morgan has been at the forefront of innovation in financial services. At the Singapore Fintech Festival, Umar Farooq, co-head of J.P. Morgan Payments, announced that Onyx is now Kinexys by J.P. Morgan—the next chapter for our blockchain business unit."
FIS Restarts Its M&A Engine As It Looks to Its Worldpay Stake for a Payoff
Digital Transactions
"More than a year after spinning off a majority interest in the massive Worldpay merchant-processing platform, FIS Inc.’s top brass said early Monday the move is already paying off. And the company is revving up its acquisition engine again, with $1 billion committed to do deals this year."
TheFork and Mastercard Join Forces to Enhance Culinary Experiences for Cardholders
Mastercard
"TheFork and Mastercard have forged a multi-year partnership to elevate the dining experience for Mastercard cardholders. Cardholders in Europe and those traveling to the region will have always-on access to reservations and a selection of exclusive, culinary-centered Priceless Experiences through priceless.com and TheFork platform."
Mastercard, Kenya’s DTB Ink 10 Year Digital Payments Deal
ITWeb Africa
"MasterCard and Diamond Trust Bank (DTB) have reached a 10-year agreement to provide tailored digital payment solutions in Kenya, Uganda, and Tanzania. The partnership will focus on providing innovative, secure, and convenient payment solutions, such as customized card products and advanced transfer services for peer-to-peer, business-to-business, and person-to-business transactions."
Sure and Checkout.com Partner to Improve Payments for Digital Insurance
Checkout
"Checkout.com announced a new partnership with insurance technology leader, Sure, to improve the digital experience for consumers accessing insurance products, by boosting payments performance."
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."
On the wires
Blackhawk Network Drives the Shift to Digital Gifting with New Visa® eGift and Mastercard® eGift products, Enhancing Security and Convenience for Consumers
Business Wire
"Blackhawk Network has partnered with Visa Inc. and Mastercard to bring the speed, convenience and security of an eGift into physical retail stores with the launch of Visa® eGift and Mastercard® eGift. The patented, tamper-evident gift carrier does not have a card inside."
November 5, 2024
Top Post
Mastercard Launches Pay Local to Empower Digital Wallet Providers With New Ways to Pay
Mastercard
"Mastercard launched Mastercard Pay Local, a global service that seamlessly connects consumers and merchants by allowing consumers to make card-based payments using local digital wallets."
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."
Project Nexus: Enabling Instant Cross-Border Payments
BIS
"In over 70 countries today domestic payments reach their destination in seconds at near-zero cost to the sender or recipient. This is thanks to the growing availability of instant payment systems (IPS). Connecting these IPS to each other can enable cross-border payments from Sender to Recipient within 60 seconds (in most cases)."
Call for Expressions of Interest in Innovation Partnerships for the Digital Euro
European Central Bank
"As part of the preparations for the possible issuance of a digital euro, the ECB is establishing an innovation platform to collaborate with stakeholders. These may include small and large merchants, banks, other payment service providers, fintech companies, financial institutions, research institutes, technical experts and universities."
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."
On the wires
Payment Platform Zelle to Shift Users Away From Standalone Mobile App
Reuters
"Peer-to-peer payments platform Zelle is shifting users away from its stand-alone mobile app in favor of using the platform via banking apps, Zelle's parent company said on Thursday."
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