Tagged: online payments

India’s National Security Adviser Warns that Fraudulent Activities have Increased as More Consumers are Conducting Online Payments

Ajit Doval, the National Security Adviser (NSA) to the Prime Minister of India, recently warned that financial crime and fraudulent activities have increased significantly and could continue to rise, because more consumers are conducting transactions online following the COVID-19 outbreak. Doval said that the country… Read More

Reserve Bank of India Is Reportedly Planning to use Infosys Co-Founder Nandan Nilekani’s Formula to Measure Effectiveness of Digital Payments

The Reserve Bank of India (RBI) is reportedly planning to use the Nandan Nilekani (Infosys co-founder) formula in order to measure the effectiveness of digital payments. Indian prime minister Narendra Modi’s administration has introduced the Digital India initiative which aims to determine the extent of… Read More

Digital Wallet Provider EasyPaisa Partners Fintech Firm PayFast to Accelerate Virtual Payments Adoption in Pakistan

Easypaisa, a leading digital wallet provider in Pakistan, has partnered with Fintech firm PayFast, in order to accelerate the adoption of digital payments in the country. Through the partnership, Easypaisa digital wallet users will be able to make online payments using PayFast’s local payment gateway…. Read More

Egyptian Digital Payments Provider, Fawry, Experiences Record Growth Following COVID-19 Outbreak

Fawry for Banking & Payment Technology Services SAE, an Egyptian digital payments provider, was listed on Cairo’s exchange about a year back. The company recently experienced a 300% increase in its market value to 20 billion Egyptian pounds (appr. $1.3 billion). The payments firm confirmed… Read More

Spotify, Netflix, Revolut Investor TCV Leads €90 Million Round for Mollie, a European Payment Processing Firm

Mollie, a European payment processing company, has secured €90 million in capital through a Series B investment round which was led by TCV, a prominent investor that has also participated in rounds conducted by Spotify, Revolut, Netflix, and Nubank, one of the largest digital banks… Read More

Alibaba Group’s E-commerce Site Daraz in Pakistan to Encourage Digital Payments by Offering 10% Discount on Mondays on Purchases Made with Visa Cards

Payments giant Visa has teamed up with Pakistan’s Daraz, an online marketplace and logistics firm which operates in markets of South Asia and Southeast Asia (owned by Alibaba Group). Through the long-term, strategic partnership, the companies will introduce “Visa Mondays,” which will allow Daraz customers… Read More

Delivery Hero, a MENA Region Online Delivery Service, Partners Mastercard to Digitize Entire Payments Process

Delivery Hero, a Berlin-based online delivery platform operating in the Middle East, has teamed up with Mastercard in order to digitize its entire payment process across all its products offered to MENA region customers. Delivery Hero app users will have the option to pay for… Read More

MENA Region Is Experiencing Strong Revival of Digital Commerce and Virtual Payments Sector, Industry Exec Reveals

The MENA region is reportedly experiencing a strong revival of its digital commerce and virtual payments sector, particularly during the past quarter of this year. This key Fintech trend is expected to continue and also keep up its current growth rate in the coming years,… Read More

Central American Fintech Firms Now Involved in Banking, Billing, Crowdfunding, Online Payments, Personal Credit

  Central America is home to many Fintech firms such as Cuanto, Sube, and Klap which specialize in online payments. There’s also Adelantos and Vana which focus on personal credit. Central America based Fintech firms Omni and Cuscatalan are part of the region’s banking sector…. Read More

Pakistani Fintech SadaPay Aims to Bring Modern Financial Services to Country, where 87% of 218 Million Residents are Formally Unbanked

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

Digital Transformation: Egypt’s Largest Bank Inroduces New Services to Support Virtual Banking following COVID-19 Outbreak

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

Checkout.com Signs MoU with Pakistan’s Largest Transactional Clearing Facilitator to Offer Better Digital Payment Options in the Country

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

Achieving Financial Inclusion Is Still a Significant Challenge in Pakistan, According to Fintech Sector Executive, but New Products being Developed

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

Cairo Fintech Paymob Allows SMEs to Launch E-Commerce Sites, Add Online Payments via Digital and Offline Channels

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

Pakistan’s EasyPaisa, a Leading Digital Wallet Provider, Partners Rawalpindi Chamber of Commerce and Industry to Support Virtual Payments

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

Consumer Spending in India Is Significantly Lower due to COVID-19 related Uncertainty, UPI and Digital Payments Also Decline as Lockdowns Eased

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

Majority of Singapore based Businesses Believe Fintech Adoption Is Necessary when Improving Operational Efficiency: Survey

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

Indonesia’s Vice President Says Digital Technology and Online Payments have become “Absolutely Necessary” due to COVID-19

Bank Indonesia (BI), the nation’s central bank, introduced the seventh Indonesia Sharia Economic Festival (ISEF) this past Friday. The event took place virtually or online, which was notably the first of its kind in the country. Established in 2014, ISEF is an international event that… Read More

Digital Payments Surge in India with UPI Transactions Reaching Record Highs, Pakistan Also Seeing Rise in Online Transfers

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

Apple has Reportedy Acquired Mobeewave, which Transforms iPhones into Mobile or Digital Payment Terminals

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

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