Tagged: digital payments

August 25, 2020 @ 12:31 pm By Omar Faridi  |  

UK-based Fintech firm Paysend, which focuses on global payments, has revealed that it will be working with Alipay to offer new cross-border money transfer options that aim to bring more seamless and inclusive financial services to consumers throughout the world. Paysend claims that its agreement… Read More

August 25, 2020 @ 10:52 am By Omar Faridi  |  

UK-based Fintech Paymentology, a company that offers a cloud-powered payments processing solution, has introduced a global credit card processing platform, called Credit Works. Credit.Works aims to fill a key requirement in the Fintech and financial sector’s credit card processing space which Paymentology claims have lagged… Read More

August 24, 2020 @ 11:50 pm By Omar Faridi  |  

Pakistan still has a very large informal economy, meaning many (or most) transactions are still settled with cash. The majority of the nation’s residents do not have access to a bank account or modern financial services. However, local Fintech and digital wallet solution providers such… Read More

August 24, 2020 @ 10:12 pm By Omar Faridi  |  

Indonesia, which has one of the largest economies in Southeast Asia and also ranked high globally, has emerged as a fast-growing Fintech hub. It’s estimated that in the next five years, digital financial services revenues in Indonesia will reach $8.6 billion, meaning they’re increasing at… Read More

August 24, 2020 @ 10:04 pm By Omar Faridi  |  

Qatar has been ranked or classified as a high-income economy by the World Bank. Although the Middle Eastern country only has a GDP of around $200 billion (a lot less compared to many trillion-dollar economies), it’s home to just over 2.7 million people so the… Read More

August 24, 2020 @ 1:49 pm By Omar Faridi  |  

The National Bank of Egypt (NBE), the country’s largest banking institution in terms of total assets, number of branches and employees, has introduced several services via its Al Ahly Net and NBE mobile app, in order to support its digital banking strategy. Hisham Okasha, chairman… Read More

August 24, 2020 @ 7:51 am By Omar Faridi  |  

Countries throughout the world are struggling to cope with the COVID-19 outbreak and resulting socio-economic challenges. Although many places have been trying to re-open for business and lockdowns are being eased, globally, there might be a second wave of the Coronavirus that could lead to… Read More

August 22, 2020 @ 5:00 pm By Omar Faridi  |  

Pakistan‘s National Institutional Facilitation Technologies (NIFT) and Checkout.com, the provider of cross-border payments solutions to Fintech firms, have signed a Memorandum of Understanding (MoU). NIFT is Pakistan’s largest transactional clearing facilitator. It provides efficient, cost-effective and automated clearing of financial transactions. Meanwhile. Checkout.com is a… Read More

August 21, 2020 @ 4:54 pm By Omar Faridi  |  

Salman Ali, the chief operating officer at Virtual Remittance Gateway, notes that Pakistan has a population of more than 218 million (one of the highest in the world). He points out that 60% of the nation’s population are adults, however, only 23% of residents have… Read More

August 21, 2020 @ 12:27 pm By Omar Faridi  |  

Cairo-headquartered payment company, Paymob has acquired $3.5 million in capital through an investment round that was led by Dubai’s Global Ventures and the Dutch Entrepreneurial Development Bank FMO. Existing investor A15 also took part in the round. Established in 2015 by Islam Shawky, Alain El… Read More

August 21, 2020 @ 9:59 am By Omar Faridi  |  

Digital banking or the use of online services and platforms may have been accelerated due to the COVID-19 outbreak, which had led to many countries enforcing nationwide lockdowns. While many countries are now beginning to “re-open” their businesses, the Coronavirus crisis has led to major… Read More

August 21, 2020 @ 7:32 am By Omar Faridi  |  

Bitcoin (BTC) and the controversial Facebook-led Libra stablecoin or payments project might  play a key role in a world where reserve banks are beginning to issue their own digital currencies or CBDCs, according to Raghuram Rajan, former governor at the Reserve Bank of India (RBI)…. Read More

August 20, 2020 @ 11:38 pm By Omar Faridi  |  

Pakistan’s Easypaisa, a leading online wallet provider, has teamed up with the Rawalpindi Chamber of Commerce and Industry (RCCI) in order to support digital payments in the country. The agreement was made official and signed by Khurram Malik, Head of Easypaisa, Telenor Microfinance Bank and… Read More

August 20, 2020 @ 10:45 pm By Omar Faridi  |  

The COVID-19 outbreak and nationwide lockdowns in India have forced many local residents to re-evaluate how they conduct business and manage their finances. An analysis performed by ETMoney reveals that the overall spend by India’s residents between March and June 2020 dropped by around 40%,… Read More

August 20, 2020 @ 10:35 pm By Omar Faridi  |  

More Singapore based companies and businesses are expected to use the latest Fintech platforms and services in the coming year. Firms operating in the Asian country aim to streamline their business by adopting the latest digital technologies, according to a report from CPA Australia, a… Read More

August 19, 2020 @ 10:36 pm By Omar Faridi  |  

Fintech firm FXPress Payment Services revealed on August 18, 2020, that it will be acquiring Avila House Ltd, which is subject to regulatory approval. Avila House is a licensed Small Electronic Money Institution. FXPress Payment Services Ltd is authorized and regulated by the UK’s Financial… Read More

August 19, 2020 @ 4:34 pm By Samantha Hurst  |  

Samsung Electronics Co., Ltd announced Monday the new Samsung Pay Card, powered by UK fintech Curve, and in conjunction with global payments technology company Mastercard, has officially made its debut. Samsung reported that Samsung Pay Card gives users complete control over their spending, without the fuss of… Read More

August 13, 2020 @ 10:40 pm By Samantha Hurst  |  

 Mastercard announced earlier this week it has a new low-cost payment solution, called SME-in-a-Box,  to allow small business owners to move their businesses online and accept a range of digital payments from their customers. According to Mastercard, SME in a Box offers a low-cost acceptance… Read More

August 12, 2020 @ 10:38 pm By Omar Faridi  |  

TrueMoney, a Southeast Asian Fintech firm, has teamed up with Singapore-based Thunes, a cross-border payment company, in order to expand its remittance services. Through the partnership, TrueMoney customers will be able to accept remittance payments from anywhere in the world via Thunes’ international partner network,… Read More

August 12, 2020 @ 9:46 pm By Omar Faridi  |  

The South Korean city of Seongnam is reportedly planning to expand its blockchain or distributed ledger tech (DLT)-enabled payment platform by introducing digital gift certificates. The city’s DLT based payments platform will be accessible via a mobile app, called Chak. The app has been developed… Read More