Tagged: digital transactions

Digital Banking Unicorn Revolut has Further Simplified Online Payments with QR Codes

Digital banking platform Revolut confirms that it recently “simplified” online payments via the launch of Payment Links to Revolut Business clients. The Fintech Unicorn has made other updates so it’s even easier to accept virtual payments “straight away” with QR codes. For those not completely… Read More

Bitcoin Is “Extremely Inefficient” when Used to Settle Financial Transactions, US Treasury Sec Janet Yellen Argues

US Treasury Secretary Janet Yellen stated on Monday (February 22, 2021) that Bitcoin is an “extremely inefficient” way to settle financial transactions. Yellen commented on how the digital currency’s price fell sharply (as usual) during morning trading hours, but then stayed above the $53,000 mark… Read More

New Instant Payments System “Sarie” Launched in Saudi Arabia to Seamlessly Settle Local Digital Transactions

The reserve bank in Saudi Arabia has introduced an instant payments solution, called the “Sarie” system, in order to carry out low-value transactions within the country. The Saudi reserve bank (SAMA) noted that the new initiative will allow banking customers in the Kingdom to accept… Read More

PayPal Is Planning to Offer a Super App with Fintech Services like Crypto, Payments, Investing, Rewards Accessible via Common Interface

Last year was a very transformative year for many Fintechs including PayPal (NASDAQ: PYPL). There was a dramatic surge in digital commerce activity and a record number of new users began using PayPal’s online services (over 72 million). There was also a considerable increase in… Read More

Singapore based Remittance Firm TranSwap to Move into UK Markets with Plans to Establish R&D Centre in Edinburgh

Singapore-based remittance firm TranSwap has reportedly decided to make a move into the United Kingdom with plans to establish an Edinburgh research and development (R&D) center that will employ over 50 professionals. Currently operating in Hong Kong, Indonesia and Malaysia, TranSwap’s management noted that the… Read More

Ripple’s RippleNet Cloud Product Reportedly Offers Highest Standard in Safety, Security, Privacy, Is Now SOC 2 Certified

Fintech firm Ripple notes that in May 2020, McKinsey had identified that consumer and enterprise digital adoption had “matured five years, in a matter of eight weeks.” For financial institutions, digital technologies — such as Cloud-enabled models — provide the flexibility and scalability needed to… Read More

Remittance Payments have been Too Costly for Malaysian Consumers, with Many Giving Up on them Completely: TransferWise Survey

A survey performed by UK-based TransferWise, a leading online money transfer service, has provided insights on how the Coronavirus crisis has impacted consumer behavior, particularly how remittance payments are handled by individuals residing in Malaysia. The survey revealed that approximately 50% of people in Malaysia… Read More

Contactless Payments Adoption to Increase 6-8% Globally Compared to Pre-COVID Projections: Report

Like many aspects of our daily lives in the 21st century, the COVID-19 outbreak is affecting consumers’ spending habits. The Coronavirus crisis may have led to permanent changes in consumer behavior, including the manner in which we acquire the products and services we need. When… Read More

Fintech Unicorn Divvy, a Payment and Expense Management Platform, Claims 9,000+ Clients Across Every US State

Divvy, a modern payment and expense management platform for businesses, which notably secured $165 million through its Series D funding round, making it one of only 14 Fintechs this month to raise a mega-round ($100M+ or more) in January 2021, notes that during the last… Read More

Fintech OpenPayd Founder Dr. Ozerk has Developed “Super App” for High-Quality Financial Services

It’s not easy to enter the highly competitive space of financial “super apps.” Companies or businesses usually spend a long time acquiring the appropriate licenses and developing relevant products and services that can address the strict requirements of regulators. Although these time-consuming processes can lead… Read More

LuLu Exchange Partners Global Fintech Ripple and Federal Bank to Enhance Real-Time Payments from UAE to India

The LuLu Exchange in the United Arab Emirates (UAE) has confirmed that they’re teaming up with American Fintech Ripple (which is the subject of a major enforcement action from the US SEC) and Federal Bank in order to enhance real-time payments capabilities from the UAE… Read More

Mobile Payments App Venmo to Provide Merchants Ways to Reach Highly Social Millennials via its Social Feed, Rewards, Payouts

The team at Venmo, a mobile payment service created by PayPal, notes that their platform began as a social peer-to-peer payments tool for friends and family members to split their meal or share an “unforgettable experience.” The Venmo team confirms that several years ago, they… Read More

Crypto OTC Markets See Up to 3x as Much Volume as Regular Exchanges, “Anecdotal Evidence” Suggests, Fintech Circle Claims

Global Fintech firm Circle notes that in the cryptocurrency over-the-counter (OTC) market, professional market participants are able to carry out large trades in a private manner and with “minimal price slippage,” which is why institutional clients are now “flocking” towards crypto OTC trading desks. Although… Read More

QR Code Payments Users Is Expected to Surpass 2.2 Billion within Next 5 Years: Report

A recent study released by Juniper Research has revealed that the total number of QR code payment users is expected to surpass 2.2 billion within 5 years, which is up significantly from 1.5 billion in 2020. This would be almost 30% of all mobile phone… Read More

Digital Payments Fintech Remitly Explains how to Send Money Abroad Even When You Don’t Have Cash, by Using Credit Cards

Personal finance specialist Joyce Chou notes that there are ways to send money during times of need even when you might not have enough cash in your savings or checking account. Chou writes in a blog post published by Remitly, a cross-border payments service, that… Read More

Qatar based Fintech CWallet, which Will Offer Payroll and Remittance Payments Options, Secures $220,000 in Pre-Seed Funding

Qatar-based Fintech firm Cwallet has finalized a $220,000 pre-seed investment round from its founders and MBK Holding, the company’s CEO has confirmed. Michael Javier, who’s also Co-founder at Cwallet, noted that the Fintech company is now working cooperatively with the Qatar Central Bank (QCB) in… Read More

By 2022, Most Payments will Migrate to ISO 20022, a Standard for Electronic Data Interchange between Financial Institutions, According to Payment Components

The team at Payment Components, a UK-based firm that’s empowering Open Banking with agile PSD2 and API frameworks (developing solutions for banks, corporates, and developers including BaaS while supporting Fintech payments), notes that with the introduction of new regulations and payment systems, managing a bank’s… Read More

Malaysia based Fintech Soft Space Partners GMO Financial Gate to Offer Payment Solutions to Japanese Consumers

Malaysia-based Fintech firm Soft Space has teamed up with Japan’s GMO Financial Gate (GMO-FG), a payment service provider, in order to offer payments solutions to Japanese consumers. Through the partnership, Soft Space will be supporting the secure and seamless Europay, Mastercard, and Visa (EMV) transactions…. Read More

Philippines based Digital Wallet GCash Reaches PHP 1 Trillion in Total Transactions During the Past Year

Philippines-based digital wallet GCash reportedly reached PHP 1 trillion (appr. $20.8 billion) in total transactions for the year 2020, which represents a 254% year-over-year (YoY) increase in transfers. Globe Fintech Innovations Inc. (Mynt), which manages GCash, is part of the portfolio firms of 917Ventures (one… Read More

Fintech Unicorn TransferWise’s Erik Kaju Reveals how Company Began Developing its Global Debit Card

Erik Kaju, Director of Engineering, Cards and Spend at Fintech firm TransferWise, notes that after the introduction of the money transfer service’s debit Mastercard back in 2018, they’ve taken the card to more than 30 countries on four different continents. TransferWise claims that more than… Read More

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