Illinois Passes Law to Protect Buy Now, Pay Later Borrowers

NCLC

“Illinois Governor J.B. Pritzker signed legislation to protect people who take out Buy Now Pay Later (BNPL) loans from hidden charges, unaffordable loans, and other risks. The Illinois law covers loans with four or fewer installments or a term of 120 days or less. The law limits BNPL loans to the 36% rate cap that […]

Global

The European Banking Authority Consults on a Draft Methodology for Setting Fines Under the Markets in Crypto-Assets Regulation (MiCA)

European Banking Authority

“​The European Banking Authority (EBA) published a Consultation Paper with a draft methodology for setting fines in its role as supervisor under MiCA. The objective is to ensure that fines imposed on issuers of significant crypto-assets are consistent, proportionate and transparent, and effectively support compliance with the regulatory framework.”

Tags: Europe

Global

Africa’s Largest Lender Wins China Approval to Clear Yuan Payments Across 19 African Countries in Major Trade Shift

Business Insider Africa

“China has authorised Africa’s largest lender, Standard Bank, to jointly clear yuan transactions across 19 African countries. The move gives businesses across the continent direct access to China’s onshore financial system for the first time. It comes as China deepens trade and investment ties with Africa while promoting wider international use of the yuan. Businesses are expected to […]

Tags: Africa China

Police Arrest Suspects in Pix Fraud That Caused Losses of R$ 5.5 Million

Finsiders Brasil

According to investigations, the group carried out more than 400 automated transfers via Pix (Brazil’s instant payment system). To do this, they used a scheme to split the value of transactions known as smurfing. They then converted the funds into cryptocurrencies. Part of the resources were concentrated in national and international exchanges. According to the […]

Global

After 6 Months, Recurring Pix Payments Enabled by EBANX Already Account for 28% of Nord Security’s Payment Volume in Brazil

EBANX

“Nord Security, a global cybersecurity solution provider, partnered with EBANX, to offer Pix Automático to its Brazilian consumers. Launched last year by Brazil’s Central Bank, Pix Automático is the recurring feature of Pix, the country’s instant payment system. Six months after being integrated by Nord Security via EBANX, Pix Automático already accounts for 28% of the company’s […]

Tags: Brazil

Companies

Google Opens the Play Store to External Billing in the US, UK, and Europe

9 to 5 Google

“Google announced that it will open up the Play Store to external payments starting on June 30 in the US, UK, and Europe. The new policy sees developers paying 10% fees on their first $1,000,000 in annual earnings regardless of billing method, whether that be Google Play Billing, an alternate built-in system, or external links […]

Tags: Google

Companies

Jack Henry and Google Cloud Expand Collaboration to Deliver AI-Driven Security for Banks and Credit Unions

Jack Henry

Jack Henry® and Google Cloud announced an expanded collaboration to deliver AI-driven security capabilities for banks and credit unions. Building on their strategic relationship established in 2022, Jack Henry will use Google Cloud’s suite of agentic defense products to develop a proprietary AI security platform purpose-built for the financial services ecosystem. This initiative will strengthen cyber resilience for financial institutions and […]

Tags: Google Jack Henry & Associates

Companies

PayPal CEO Unveils AI Reset, $1.5B Savings Plan at Bernstein Conference

MarketBeat

“PayPal CEO Enrique Lores laid out a broad reset focused on simplifying the company, modernizing its pre-cloud technology stack, and making PayPal more AI-native while shifting more attention back to consumers. The company has reorganized into three core businesses — Checkout, consumer financial services and payment processing — and is now prioritizing sustainable profitability, stronger Venmo monetization, and added value […]

Tags: PayPal

Companies

U.S. Bank, Gigsafe Team to Advance Payment Infrastructure for Logistics Industry

U.S. Bank

“U.S. Bank announced a collaboration with GigSafe, a compliance and payments platform built for regulated delivery and logistics operators, to enhance the way workers using GigSafe get paid. GigSafe will leverage  to provide customers reliable, transparent and scalable payment workflows designed to support complex contractor networks. The embedded approach allows payments to occur seamlessly within GigSafe’s […]

Tags: U.S. Bank

Companies

Modulr: A New Way to Get Paid: Modulr Adds cVRP to Its Collections Hub

Modulr

“Modulr announced the launch of commercial Variable Recurring Payments (cVRP), designed to offer a flexible, faster alternative to traditional payments for businesses collecting large volumes. This announcement follows the rollout of the scheme by the UK Payments Initiative (UKPI). Modulr has helped shape the scheme from the outset as a UKPI founding shareholder and is […]

Tags: Modulr

Companies

Backbase Acquires Kasisto, Leading the Industry Shift to Agentic Banking

Backbase

“Backbase announced the acquisition of Kasisto, a pioneer in agentic AI for banking and financial services. Kasisto’s agentic platform, financial services intelligence, and New York-based team are now part of Backbase and the AI-native Banking OS. Together, Backbase and Kasisto deliver the only AI-native solution built for the full complexity of agentic banking in regulated […]

Tags: Backbase

Companies

Education: Tokenization: What It Is and How to Think About It

Bank of Canada

“Tokenization has received a lot of attention in recent years as a technology that could revolutionize financial markets and payments. It promises fast settlement, low risk for counterparties and minimal barriers to competition. Yet tokenization is often misunderstood.”

Tags: Bank of Canada

Global

Safaricom Quietly Integrates Fuliza into M-PESA GlobalPay Visa for International Shopping

Streamline

“In a profound enhancement to Kenya’s digital payments infrastructure, Safaricom has silently activated functionality allowing its M-PESA GlobalPay Virtual Visa Card to draw funds directly from the Fuliza overdraft facility. The integration decisively resolves the most glaring friction point for digital consumers transacting across international borders, ensuring that minor wallet deficits no longer trigger humiliating […]

Tags: Kenya

Companies

The Art of Assessing Customer Intent: Authorized Party Fraud Trends

Federal Reserve

“Fraud deliberately committed by customers, sometimes referred to as first-party fraud, is a growing concern. Fraudulent behavior, such as false claims, misuse of payment channels or money mule activity, may resemble normal behavior. This often makes it difficult for financial institutions to distinguish fraudulent intent from routine activity. As customer intent becomes harder to interpret, […]

Tags: Federal Reserve

Companies

Deutsche Bank, Swift and Financial Institutions Worldwide Team up to Deliver a New Era of International Money Transfers to Germany

Business Wire

“Deutsche Bank is among the first financial institutions in the world to go live on a new global initiative transforming the experience for people receiving international transfers. The bank has successfully processed payments from Australia almost instantly, and from Brazil in less than a minute, to give an enhanced experience to senders in those corridors […]

Tags: Deutsche Bank