Tagged: virtual payments

May 5, 2022 @ 2:38 pm By Omar Faridi  |  

The Federal Reserve recently reported that it officially began onboarding pilot participants onto the FedNow Service, “signaling that the initial testing phase of the FedNow Pilot Program is underway.” A few organizations have now successfully “connected and delivered test messages over a pilot version of… Read More

April 20, 2022 @ 11:19 pm By Omar Faridi  |  

MYPINPAD, which claims to be an international leader in mobile-based payments acceptance and digital authentication solutions, and SmartPesa, a provider of payments and agency banking solutions, have “agreed to merge.” The combined entity will “operate under the MYPINPAD brand.” Customers will benefit from greater scale,… Read More

April 17, 2022 @ 11:56 pm By Omar Faridi  |  

Retailers in Singapore can now accept digital payment tokens (DPT), through a new cryptocurrency payment solution introduced by Singapore-based Major Payment Institution FOMO Pay. The new payment method intended for retailers is reportedly “the first such to be developed by a Digital Payment Token (DPT)… Read More

April 13, 2022 @ 10:11 pm By Omar Faridi  |  

Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, and Poshmark, a social marketplace for new and secondhand style, announced a 2-year extension and expansion of their partnership “to deliver increased payment flexibility to shoppers.” Poshmark was one of the… Read More

April 13, 2022 @ 7:37 am By Omar Faridi  |  

TrueLayer, which claims to be Europe’s leading Open Banking platform, has announced it has launched its “closed-loop” payment product in Ireland, France, Germany, Spain, Lithuania and the Netherlands. As noted in an update shared with CI, traditional payment methods “weren’t built to handle the speed… Read More

April 13, 2022 @ 5:46 am By Omar Faridi  |  

Paymob, MENA region’s virtual payments provider, has announced its formal market entry, and “start of operations, in Pakistan.” Paymob’s expansion into Pakistan follows its steady growth in its home market of Egypt, plus Jordan and other world regions where – combined – it “services tens… Read More

April 10, 2022 @ 6:34 pm By Omar Faridi  |  

Strike, which claims to be the leading virtual payments platform built on Bitcoin’s Lightning Network, recently announced its integration with Shopify, unlocking the ability for eligible U.S. Shopify merchants “to receive bitcoin payments from customers globally as U.S. dollars.” Jack Mallers, founder and CEO of… Read More

April 8, 2022 @ 12:38 pm By Omar Faridi  |  

American Express (NYSE:AXP) and i2c Inc, a provider of virtual payment and banking tech, announced an expanded global, multi-product agreement that will enable Fintech firms and financial institutions around the world “to develop and scale innovative payments solutions for consumers and businesses on the American… Read More

March 29, 2022 @ 10:37 pm By Omar Faridi  |  

Mashreq Bank, a leading financial institution based in the United Arab Emirates, has completed the transition of its payments division into a wholly owned subsidiary, IDFAA Payment Services LLC, with a brand name NEOPAY, supported by Mashreq. NEOPAY, powered by Mashreq Bank, will reportedly leverage… Read More

March 28, 2022 @ 11:29 pm By Omar Faridi  |  

Saudi Arabia is one of the most vibrant and dynamic nations. And as part of its Vision 2030 plan, the country’s government has “set ambitious goals to digitize and transform its economy.” At Checkout.com, they have the privilege of “being an active participant in accelerating… Read More

March 26, 2022 @ 12:01 pm By Omar Faridi  |  

Carta Worldwide, a virtual payments technology, and card issuer processing enabler, recently entered a partnership with digital payments specialist Acquired in order to mutually support their networks with “value-added” payment processing and acquiring services. Acquired’s data-driven payment solutions have been custom built so they can… Read More

February 27, 2022 @ 6:21 pm By Omar Faridi  |  

Pakistan’s NayaPay Pvt. has reportedly acquired $13 million in early-stage capital as it aims to onboard consumers who an underbanked or financially underserved. The Karachi-headquartered Fintech firm’s seed round has been led by Zayn Capital, MSA Novo and Silicon Valley’s early-stage investor Graph Ventures, CEO… Read More

February 24, 2022 @ 10:17 pm By Omar Faridi  |  

Indian Fintech Unicorn Razorpay notes that it has been serving numerous digital commerce merchants with an intuitive, customer-friendly, and secure checkout experience for over six years. The company claims that its expertise makes them one of the best go-to checkout providers for merchants who want… Read More

February 23, 2022 @ 6:13 pm By Omar Faridi  |  

Within any commerce ecosystem — particularly in digital commerce — chargebacks appear to have become a way of everyday life, according to an update from Verifi. For merchants, chargebacks can be a drain on both time and financial resources. Improved communication between merchants and issuers… Read More

February 22, 2022 @ 12:25 am By Omar Faridi  |  

PayMongo, an online payments Fintech in the Philippines, has secured $31 million via a Series B round from JAM Fund, the venture capital firm of Tinder co-founder Justin Mateen, and other investors including ICCP-SBI Venture Partners and Kaya Founders. Super thrilled to announce @paymongo has… Read More

February 19, 2022 @ 1:11 pm By Omar Faridi  |  

Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments company, announced the latest version of its machine learning-driven Cash Application solution. With virtual payments, non-standard remittance information and the proliferation of accounts payable (AP) portals challenging today’s accounts receivable (AR) teams, Cash Application… Read More

February 14, 2022 @ 10:44 pm By Omar Faridi  |  

Digital commerce is a major engine of the global economy. It experienced an economic upshift during the year 2020 as a consequence of the economic slowdown that accompanied the COVID-19 crisis. At the same time, the continued digitization of commercial and consumer transactions “contributed to… Read More

February 3, 2022 @ 4:12 pm By Omar Faridi  |  

Consumers and businesses reportedly sent 1.8 billion payments via the Zelle Network during 2021, an increase of 49% from a year prior, Early Warning Services, LLC, the network operator behind Zelle, confirmed on February 2, 2022. Those payments “totaled $490 billion, up 59%.” Al Ko,… Read More

January 28, 2022 @ 7:10 pm By Omar Faridi  |  

Bank Indonesia (BI) and Bank Negara Malaysia (BNM) announced on January 27, 2022 that they’ve launched a cross-border QR payment linkage. It will “enable instant, secure and efficient cross-border payments between Indonesia and Malaysia.” Via this linkage, consumers in both nations will be able to… Read More

January 28, 2022 @ 12:43 pm By Omar Faridi  |  

The UK’s Payment Systems Regulator (PSR) has released its initial remedies consultation for its card-acquiring market review. Each time a consumer carries out a card payment – for instance, when purchasing their weekly groceries – the merchant makes use of card-acquiring services to take the… Read More