Tagged: online payments

March 2, 2020 @ 5:40 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) has released a 138-page report which examines the latest trends in payments and Fintech, including tokenized or digital securities, central bank digital currencies (CBDCs), international transactions, and peer-to-peer (P2P) platforms.   Hyun Song Shin, head of research at BIS noted… Read More

March 1, 2020 @ 6:10 pm By Omar Faridi  |  

Macau Pass S.A., the developer of a contactless smartcard (previously called Transmac IC Card), first launched the Transmac over 20 years back (in 1999). The card may be used to conveniently pay for bus fares, everyday shopping, and dining with many more retailers expected to… Read More

February 25, 2020 @ 7:08 am By Omar Faridi  |  

WeChat Pay is planning to expand its operations and services in the United Arab Emirates (UAE), after an agreement was finalized between Tencent Holdings and UAE-headquartered solutions developer Network International. Merchants that use Network International in the UAE will soon have the option to set… Read More

February 24, 2020 @ 7:55 am By Omar Faridi  |  

India-based digital payment giant Paytm says it hopes to become profitable in the coming years  as it plans to develop a new business strategy. Vijay Shekhar Sharma, the 41-year-old billionaire founder and CEO at Paytm, who leads One 97 Communications, the parent firm of Paytm,… Read More

February 19, 2020 @ 3:18 pm By Omar Faridi  |  

UK-based Fintech company Axept has unveiled a Strong Customer Authentication (SCA) compliant payment method, which uses contactless payments cards for settling e-commerce transactions. Axept’s new solution does not require users to type in their card details, usernames, passwords or sign up while purchasing items. If… Read More

February 17, 2020 @ 12:47 pm By Omar Faridi  |  

Ant Financial, an affiliated company of the Chinese Alibaba Group, is reportedly running the first international blockchain-powered payment service in Pakistan. This is a major milestone in the Asian nation’s journey to enable greater financial inclusion. Ant Financial is notably the world’s highest-valued Fintech firm,… Read More

February 12, 2020 @ 8:40 pm By Omar Faridi  |  

Small and medium-sized enterprise (SME) platform Xero has reportedly made a new technology integration with Square’s software in Australia, in order to allow users to make instant payments of small-business invoices. The new feature will allow small and medium-sized businesses (SMBs) using Square’s platform to… Read More

February 11, 2020 @ 2:02 pm By Samantha Hurst  |  

Castlery, a direct to consumer furniture store from Singapore, is now accepting in-person and online payments with payment platform Stripe. According to Stripe, Castlery sold its products online, and soon after ventured into offline retail with physical showrooms. “Handling both online and offline payments was… Read More

February 3, 2020 @ 11:00 pm By Omar Faridi  |  

Ajay Banga, CEO at payments giant Mastercard, recently talked about why his company decided to leave the controversial Facebook-led Libra global payments and stablecoin project. Banga claims his firm doesn’t quite understand Libra’s business model. He told the Financial Times: “When you don’t understand how… Read More

February 3, 2020 @ 3:51 pm By Omar Faridi  |  

The fourth quarter of 2019 saw Russia’s citizens perform more digital payments than transacting with cash (for the first time ever), state-owned Sberbank confirmed. Moscow-based Sberbank conducted the market research as part of its SberData initiative, revealing that Russian residents performed 50.4% of total transfers… Read More

February 3, 2020 @ 10:21 am By Omar Faridi  |  

CIBC’s mobile banking app recently turned 10 years old, notably marking a decade since the institution became the first large Canadian financial institution to provide an innovative mobile banking app to customers. In a February 2 press release, CIBC reflected on the key milestones the… Read More

February 2, 2020 @ 4:43 pm By Omar Faridi  |  

Digital payments and online lending are becoming increasingly popular in Asian countries. According to a new survey, a large number of Asia-based users are conducting internet-based transactions, instead of visiting physical bank locations. The recent survey of Fintech customers by Robocash Group revealed that nearly… Read More

January 29, 2020 @ 6:56 am By Omar Faridi  |  

India-based Infibeam Avenues Limited, an established online payment solutions and enterprise software solutions developer, recently recorded the highest ever digital payment processing volume of approximately INR 159 billion (appr. $2.23 billion) during a period of significant slowdown in the nation’s economy and also amidst tough… Read More

January 29, 2020 @ 4:32 am By Omar Faridi  |  

The Nashik Merchant’s Co-op Bank (NAMCO), a Maharashtra-headquartered co-operative bank has decided to go digital. The Indian co-op bank has reportedly teamed up with India Transact Services Limited (ITSL), in order to introduce point of sale (PoS) terminals for all of its merchant accounts. This… Read More

January 28, 2020 @ 12:51 pm By Omar Faridi  |  

Takepayments is the now the new company name for Payzone’s card terminal and electronic point of sale (EPOS) business. The firm has relaunched as a new Fintech company this year in order to disrupt the existing card payments industry and perhaps gain from the collective… Read More

January 26, 2020 @ 4:29 pm By Omar Faridi  |  

It seems like there’s some good news finally for freelancers based in Pakistan. Global payments company Payoneer has teamed up with local firm JazzCash, a mobile payment provider, in order to allow Pakistani residents to receive funds from their Payoneer accounts directly into their JazzCash… Read More

January 22, 2020 @ 7:34 am By Omar Faridi  |  

Bengaluru-headquartered Razorpay, a digital bank startup, has introduced its Instant Refunds product, which aims to enhance its clients’ online payments experience. The newly-launched feature activates refunds and credits the user’s source account across several different payment methods including credit cards, net banking and UPI within… Read More

January 15, 2020 @ 10:46 pm By Omar Faridi  |  

Amazon Pay in India has received a capital injection of INR 13.5 billion (appr. $19.3 million) from its Singapore and Mauritius-headquartered parent entities, according to a filing with the registrar of companies (RoC). As noted in the financial documents available on business intelligence and information… Read More

January 13, 2020 @ 11:35 pm By Omar Faridi  |  

The global payments industry is evolving rapidly and will only be developing faster in the coming years according to several reports. From digital transformation efforts to the increasing competition among Fintech firms to innovate, it is becoming more important for companies to upgrade their tech… Read More

January 10, 2020 @ 8:10 am By Samantha Hurst  |  

Global online payment service provider PayU announced on Friday it is merging consumer lending business LazyPay and digital credit platform PaySense to build a full-stack digital lending platform in India. PayU reported it will acquire a controlling stake in PaySense and all its assets at… Read More