Tagged: online payments

January 9, 2021 @ 5:41 pm By Omar Faridi  |  

Digital payments in Saudi Arabia surged by 75% last year, as consumers increasingly began shopping online following the COVID-19 outbreak. Meanwhile, cash withdrawals from ATMs and other payment points declined 30% during the same time period. Point of sale (PoS) refers to a location where… Read More

January 3, 2021 @ 10:30 pm By Omar Faridi  |  

Google Pay for Android and iOS users now lets people see how much money they’ve spent during 2020. The expense tracking feature allows consumers to get a rough idea or estimate of their spending habits throughout the last year. Google Pay will also show users… Read More

January 3, 2021 @ 8:40 pm By Omar Faridi  |  

Chase Bank has published the findings of its Digital Banking Attitudes Study— which was compiled after conducting a national survey of 1,500 consumers. The survey’s participants were asked about their preferences when accessing digital banking services. Consumers of all age different groups noted that these… Read More

January 3, 2021 @ 12:47 pm By Omar Faridi  |  

The limit on contactless payments might be increased from the current £45 to £100 in one of Britain’s very first steps away from European Union guidelines. The upper limit on touch-free or contactless payments might be raised to £100 after the suggestion was made to… Read More

January 2, 2021 @ 11:05 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) has introduced a new index in order to measure the growth and adoption of digital payments in the country. The RBI revealed that virtual payments grew 2x in March 2020 when compared to March 2018. The index was created… Read More

January 2, 2021 @ 4:16 am By Omar Faridi  |  

Apple (NASDAQ:AAPL) is well-known for playing a key role in the global commercial market – especially when providing the latest mobile technology. The tech giant seems to be diversifying part of its business model by branching out into the banking sector – which could potentially… Read More

December 31, 2020 @ 8:01 pm By Omar Faridi  |  

Artificial intelligence (AI) alone could potentially add $500 billion or half a trillion dollars to India’s economy, according to Google India Country Manager and VP, Sajay Gupta. Gupta, who has previously worked as MD of Star India and The Walt Disney Company India, noted (while… Read More

December 30, 2020 @ 2:24 am By Omar Faridi  |  

Payments platform Adyen (AMS: ADYEN) reveals that Kogan.com managed to increase conversions while saving time and money by simplifying their payments process with Adyen. Kogan.com listed on the ASX back in 2016. It’s Australia’s “number one” purely online retailer with over 2.4 million customers. Kogan’s… Read More

December 27, 2020 @ 10:41 pm By Omar Faridi  |  

Islamabad-based Fintech firm SadaPay recently revealed that the State Bank of Pakistan (SBP), the nation’s central bank, has granted the company approval to “officially begin pilot operations.” The SadaPay team noted that until now, they’d been testing their app and debit card internally with close… Read More

December 27, 2020 @ 4:39 pm By Omar Faridi  |  

Dalal Buhejji, the Director of Business Development, Financial Services at the Bahrain Economic Development Board, has noted that there are currently around 400 financial institutions based in Bahrain. Buhejji pointed out that these companies are offered a “stable, predictable and proven” regulatory and business environment… Read More

December 26, 2020 @ 7:25 pm By Omar Faridi  |  

Many more Egyptians are now using online or all-digital platforms and services, and the nation’s government is planning to support the Fintech sector so that it can enhance the local economy. Saeed Talaat, an Egyptian citizen who had been working at a bank in Dubai,… Read More

December 26, 2020 @ 1:35 pm By Omar Faridi  |  

The Reserve Bank of India’s (RBI) focus and support for contactless payments and the entry of WhatsApp into the nation’s Fintech sector is expected to lead to an increase in digital transactions. Although most business sectors have struggled to maintain operations due to the COVID-19… Read More

December 26, 2020 @ 11:35 am By Omar Faridi  |  

Digital bank Revolut notes in its end of year review that “it goes without saying that 2020 has been a year like no other.” It has definitely impacted all our lives, including how we spend our money and the way we save, the Fintech firm… Read More

December 22, 2020 @ 11:40 pm By Omar Faridi  |  

Digital payments firm Pine Labs has reportedly secured $75-100 million through an investment round that was led by US-headquartered hedge fund Lone Pine Capital, which is known for financing established US businesses like Uber. Pine Labs is now valued at approimately $2 billion — a… Read More

December 21, 2020 @ 8:20 am By Omar Faridi  |  

The long lines in front of ATM machines have now become a rare sight as Chinese consumers are increasingly using their smartphones to complete transactions, instead of making cash payments, according to a report from China Daily. Many people claim they can’t even recall when… Read More

December 20, 2020 @ 11:55 pm By Omar Faridi  |  

James Gibson, Head of Product at Revolut Business, notes that it’s their goal or mission to assist clients with getting more from their business accounts with powerful tools that allow them to have complete control over their finances. That’s why digital bank Revolut will be… Read More

December 18, 2020 @ 7:48 am By Omar Faridi  |  

French mobile payments firm Lydia has extended its Series B investment round, raising an additional $86 million in capital led by Accel. Lydia’s total Series B funding currently stands at €131 million, which reportedly makes it the largest round ever closed by a French Fintech… Read More

December 16, 2020 @ 10:45 pm By Omar Faridi  |  

New York-based tech giant IBM Corp. (NYSE:IBM) has acquired Expertus Technologies Inc., a Canadian Fintech company that assists clients with processing over $50 billion in transactions per day. IBM bought the company so that it could enhance its electronic-payments capabilities. Expertus has now been added… Read More

December 13, 2020 @ 6:55 pm By Omar Faridi  |  

Siam Commercial Bank (BKK:SCB) has partnered with Lightnet to provide cross-border fund transfer services from South Korea to Thailand. As a digital banking service provider, Siam Commercial Bank (SCB) is focused on continuously updating its Fintech capabilities. SCB will now be working with the Lightnet… Read More

December 2, 2020 @ 9:33 pm By Omar Faridi  |  

Governments across the globe are always trying to create a balance between enabling or supporting tech advancements and innovation while preventing large companies such as Google (NASDAQ:GOOG) and Facebook (NASDAQ:FB) from unfairly using their dominant position to eliminate smaller competitors. India is reportedly planning to… Read More