Tagged: digital payments

August 2, 2020 @ 10:32 pm By Omar Faridi  |  

Fintech firm EML Payment Ltd (ASX: EML) aims to significantly reduce plastic consumption by the weight of 56 elephants, 10 humpback whales, 1,250 lions, and the height of 5,000 giraffes across the company’s global portfolio within the next three years. EML’s “Change for Good” Initiative… Read More

August 2, 2020 @ 10:15 pm By Omar Faridi  |  

UK-based Fintech and stealth bank TransferWise recently revealed that it has taken an “exciting” step towards modernizing and streamlining global banking in Asia. The company confirmed that it has brought TransferWise for Banks, its “bank-friendly” API integration, to Asian markets, allowing financial institutions to surface… Read More

August 2, 2020 @ 9:59 pm By Omar Faridi  |  

Blockchain security firm CoolBitX is focused on developing the infrastructure to bridge the gap between mainstream financial institutions and the nascent crypto-asset sector. On July 30, 2020, CoolBitX revealed that it has teamed up with BitPay, the leading provider of cryptocurrency payment services. As mentioned… Read More

August 2, 2020 @ 2:01 pm By Omar Faridi  |  

Digital payments experienced a surge in India during July 2020. UPI transactions increased by 11% month-over-month to $38.7 billion in July. Unified Payments Interface (UPI) is an instant real-time payment system that has been created by India’s National Payments Corporation. It aims to facilitate inter-bank… Read More

August 1, 2020 @ 11:26 am By Omar Faridi  |  

Apple Inc.(NASDAQ: AAPL) has reportedly acquired Mobeewave Inc., a company with technology that aims to transform iPhones into mobile or digital payment terminals, according to sources familiar with the matter. Mobeewave’s technology allows consumers to simply tap their credit card or mobile phone on another… Read More

July 30, 2020 @ 8:56 pm By Omar Faridi  |  

Dr. R Seetharaman, the CEO at Doha Bank, says that cooperation between Qatar and Hong Kong in key areas such as digital commerce, supporting startups, and the development of Fintech platforms may strengthen bilateral relations between the two nations. Seetharaman, whose comments came during a… Read More

July 29, 2020 @ 11:35 pm By Omar Faridi  |  

The global Fintech ecosystem is growing steadily. The financial technology sector is projected to reach $460 billion within the next five years. But financial losses due to fraudulent activities have reached $42 billion, globally, during the past two years. The billions of dollars stolen due… Read More

July 29, 2020 @ 10:35 pm By Omar Faridi  |  

Kelvin Lee, the Southeast (SE) Asia head for Fintech firm Ripple, notes that the more businesses that begin supporting and integrating PayID into their platforms, the better off the digital payments ecosystem will be. Ripple, which is leading the Open Payments Coalition (OPC), is reportedly… Read More

July 20, 2020 @ 11:37 pm By Omar Faridi  |  

Ney Villasenor, the VP and chief corporate affairs officer at GCash, a Fintech company that facilitates fast and secure mobile payments, has noted that there’s no doubt that COVID-19 has made Fintech services essential for people residing in the Philippines. Villasenor pointed out that cash… Read More

July 20, 2020 @ 9:33 pm By Omar Faridi  |  

The global COVID-19 crisis has forced many businesses to either shut down or make significant changes to their business models. Individuals and companies are increasingly using digital platforms and services to conduct transactions or complete routine tasks that they normally carried out at physical locations…. Read More

July 19, 2020 @ 7:27 pm By Omar Faridi  |  

Japan Communications Inc., a company that engages in the provision of wireless data communication services via in-house software solutions, has partnered with Pakistan‘s Saffran Group, a multinational technology development company. Through the partnership, the companies will invest in financial technology projects in Pakistan via the… Read More

July 18, 2020 @ 9:07 pm By Omar Faridi  |  

Benedict Carandang and Lee-Anne Tobias from First Circle Growth Finance, a company that offers financing services to qualified SMEs in the Philippines that sell to other businesses or government agencies, note in a blog post published on the World Economic Forum’s (WEF) official website that… Read More

July 18, 2020 @ 11:39 am By Omar Faridi  |  

Wolfpack Digital from Transylvania notes that we’re halfway through 2020 and the economic impact of the COVID-19 outbreak has been felt and observed across different businesses and industries. The pandemic has also led to significant changes in consumer behavior, as more people are using digital… Read More

July 17, 2020 @ 11:23 pm By Omar Faridi  |  

The GHL Group Berhad, a payment service provider and one of the top merchant acquirers in the ASEAN region, recently revealed that its Philippines division has been approved by the Philippines Securities and Exchange Commission (SEC) to conduct its lending business through its new unit,… Read More

July 16, 2020 @ 8:52 pm By Omar Faridi  |  

Banco Santander, a Madrid-based multinational commercial that generates around 50 billion Euros in annual revenue, and Banco Sabadell, the fifth-largest Spanish banking group with over 26,000 employees, have finalized a proof-of-concept (PoC) test that supports the execution of digital payments via blockchain-based smart contracts. BBVA,… Read More

July 15, 2020 @ 10:50 pm By Omar Faridi  |  

The emergence of new Fintech industry participants such as the Facebook-led Libra project have made it clear that the existing, global cross-border payments system can be improved. A Bank for International Settlements (BIS) committee report on Payments and Market Infrastructure (CPMI) has noted that countries… Read More

July 13, 2020 @ 9:54 pm By Omar Faridi  |  

The G20 summit, which will include representatives from 19 different countries and the EU, will be working on laying the groundwork for accepting digital payments. The G20, which is an international forum for world governments and central bank governors, might make changes to the existing… Read More

July 13, 2020 @ 8:39 pm By Omar Faridi  |  

Indian digital payments giant Paytm recently acquired insurance company Raheja QBE for $74 million. Amit Nayyar, President at Paytm, has noted that the company aims to promote greater financial inclusion by helping half a billion Indians with gaining access to modern digital platforms and services…. Read More

July 10, 2020 @ 4:26 pm By Omar Faridi  |  

Tonik, the very first all-digital banking platform in the Philippines, has reportedly chosen Mastercard as its payments partner as the company gets ready to officially launch its operations later this year. Through the partnership, Mastercard will be supporting Tonik by acting as its Fintech accelerator…. Read More

July 9, 2020 @ 11:40 pm By Omar Faridi  |  

There were around 40 million people that were using Venmo for payments, as of Q1 2019. That’s notably 40 million users who are using an external app and not their regular bank accounts to transfer funds. Traditional banks appear to have become a secondary option… Read More