Tagged: digital payments

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

July 8, 2020 @ 12:11 am By Omar Faridi  |  

Jane Gladstone, the recently appointed president of Promontory Interfinancial Network, has been working in Fintech investment banking since the 1990s. Gladstone established a Fintech merger and acquisition (M&A) and advisory service during the 90s, while working at Morgan Stanley. Gladstone, the former senior MD at… Read More

July 7, 2020 @ 12:39 am By Omar Faridi  |  

United Arab Emirates (UAE) based “Shop Now, Pay Later” Fintech Spotii announced on July 5, 2020 that Daman Investments had invested in its operations. Daman Investments is a non-banking financial services company that’s known for its involvement in the MENA region business sector. Spotii is… Read More

July 6, 2020 @ 11:34 pm By Omar Faridi  |  

Cuy Sheffield, the head of Crypto at Visa, says that central bank digital currencies (CBDC) could potentially prove to be one of most important developments in the coming decade. Sheffield, who previously worked in business development at TrialPay, is now responsible for overseeing Visa’s crypto-related… Read More

July 5, 2020 @ 10:09 pm By Omar Faridi  |  

FInD, a government of Maharashtra initiative that aims to match suitable investors and startups in India, confirmed on July 2, 2020, that Yuva Pay, which is part of FInD’s curated Fintech cohort, has teamed up with Yes Bank to introduce an integrated digital wallet platform…. Read More

July 5, 2020 @ 4:07 pm By Omar Faridi  |  

Transactions made with virtual cards are on track to more than triple in the next five years. Digital cards are expected to process $5 trillion in transactions by 2025, according to a new report from Juniper Research. This year, virtual card transactions are projected to… Read More

July 4, 2020 @ 5:53 pm By Omar Faridi  |  

Dr. Deep Datta Ray, a  Visiting Senior Fellow at the S. Rajaratnam School of International Studies (RSIS), Nanyang Technological University (NTU), Singapore, writes that Qatar’s opportunity creation in the “new normal” (following the COVID-19 outbreak) is in Fintech, aviation, and digitization. He notes that Qatar’s… Read More

July 3, 2020 @ 8:25 am By Omar Faridi  |  

The global COVID-19 outbreak has created many challenges as individuals and businesses have to get used to observing safe distancing measures and make changes to their lifestyle – which may include working from home. According to a recent blog post published by the International Monetary… Read More

July 1, 2020 @ 8:38 am By Omar Faridi  |  

UK-based Fintech SumUp, a payments service provider, has teamed up with Google in order to enable merchants using Google My Business to add support links to gift cards to their business profile on Google. This latest move aims to support SMBs during COVID-19 and also… Read More

July 1, 2020 @ 8:14 am By Samantha Hurst  |  

AvidXchange, a U.S. fintech that provides accounts payable and automated payment solutions to midsize businesses, announced on Tuesday its AvidPay Network has experienced record high e-payment adoption rates as businesses look to pay bills remotely and reduce reliance on shipping and mailing services. According to… Read More

June 30, 2020 @ 7:24 am By Omar Faridi  |  

Mastercard and EedenBull will be supporting the launch of a digital banking platform in the APAC region. The new digital bank will be serving businesses in Asia by helping them process payments in a more efficient manner. EedenBull is a Norwegian Fintech firm that has… Read More

June 28, 2020 @ 7:25 pm By Omar Faridi  |  

UK-based Fintech TransferWise says its partnership with digital bank N26 continues to grow, with the money transfer service now helping the challenger’s customers to send funds to even more countries, including Brazil, Mexico, Singapore, the Philippines, among others. As mentioned on the Fintech firm’s website:… Read More

June 28, 2020 @ 5:21 pm By Omar Faridi  |  

Calgary-based Fintech firm Helcim has developed and introduced a comprehensive platform to help companies accept payments and conduct business online. Helcim claims that there has been a significant increase in sales. The Canadian Fintech also noted that it will waive monthly fees for using the… Read More

June 26, 2020 @ 7:25 am By Omar Faridi  |  

In February 2020, Sweden began piloting an electronic version of its national currency, the e-krona. The European nation’s government had confirmed at that time that the e-krona was a step closer to its official launch as a central bank digital currency (CBDC). Riksbank, the central… Read More

June 26, 2020 @ 1:33 am By Omar Faridi  |  

K. Rajaraman, Additional Secretary, Investment and IER (International Economic Relations), in the Department of Economic Affairs, India, says that the country’s private sector should work cooperatively with the government to further improve and expand the Fintech ecosystem. Rajaraman said Fintech has enabled greater financial inclusion… Read More

June 26, 2020 @ 1:09 am By Omar Faridi  |  

A new report recommends that the Indian government should bring back subsidies for digital payments for transactions valued at less than INR 2,000 (appr. $26.50) and also implement Aadhaar-based electronic KYC checks for Fintechs, non-bank financial companies (NBFCs) and mutual funds. The report has been… Read More

June 25, 2020 @ 11:45 pm By Omar Faridi  |  

Ezra, a project that leverages its partner network to support global aid initiatives through Fintech and other emerging technologies, is planning to work cooperatively with mobile operators, NGOs, and various foundations and organizations in order to enable greater financial inclusion through digital platforms. Allan Green,… Read More

June 24, 2020 @ 10:02 pm By Omar Faridi  |  

Chennai-based digital bank Kaleidofin has introduced a payments platform, called KaleidoPay, which lets non-bank financial company (NBFC) clients make digital payments. KaleidoPay digitizes payments, including customers’ savings contributions and insurance premiums. The platform’s software uses machine learning (ML) algorithms to process financial data. KaleidoPay can… Read More

June 24, 2020 @ 7:44 am By Omar Faridi  |  

Brazil’s reserve bank has reportedly instructed Mastercard and Visa to suspend processing transactions on behalf of WhatsApp. As reported on June 15, 2020, the Facebook-owned WhatsApp messaging platform began facilitating payments in Brazil. However, the Central Bank of Brazil (BC) has now taken action against… Read More