Swiss Bankers Association Considers Joint Deposit Token
The Swiss Bankers Association released a white paper suggesting the digitalisation of the Swiss financial system requires a Swiss franc joint deposit token
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Walmart Invests $200 Million in PhonePe
PhonePe, India’s largest mobile payment services company, has raised another $200 million in an ongoing funding round.
Xapo Bank Integrates With UK Faster Payments
Xapo Bank, a leading bitcoin custodian, and the licensed private bank announced integration with the Fast Payments system (FPS).
FCA Takes Aim at Payment Firms Over Unacceptable Risks
The UK Financial Conduct Authority has sent letters to almost 300 payment companies calling for measures to eliminate unacceptable risks to consumers and the integrity of the country’s financial system.
Flutterwave Expands Services in Rwanda
Flutterwave received its Electronic Money Issuer and Remittance Licenses from the National Bank of Rwanda to deploy a range of new products to the country’s 13.5 million citizens
Phos Integrates QR Digital Wallets
SoftPOS solution provider Phos added QR code-based digital wallets, such as PayPal, Venmo, and CashApp, as payment methods for retailers
FedNow Instant Payment System to Launch in July
The U.S. Federal Reserve has confirmed its long-awaited instant payments system FedNow, seen as an alternative to CBDCs and stablecoin payments, will launch in July
BNP Paribas Moves Into B2B BNPL
BNP Paribas is switching to the Buy Now, Pay Later B2B platform.
South Africa to Roll Out Payshap
In South Africa, the process of introducing Payshap, an inexpensive real-time interbank digital payment service, has started.
Tabit and Lenovo Join Efforts to Offer B2B BNPL in Canada
Lenovo will offer its business customers a BNPL payment method through their Tabit B2B integration
Italy Sees the Fastest Growth of In-Store Mobile and Wearable Transactions
In-store mobile and wearable transaction values in Italy rose by 122% in 2022 to hit $17.5 billion
JPMorgan Funds Metaverse Payments Platform Tilia
A payment platform for metaverse economies Tilia has secured a total of $22 million in funding from JPMorgan and Seoul-based fintech Dunamu to scale and provide KYC-compliant micropayments
Dubai’s Astra Tech Forms Partnership With Mastercard
Fintech company Astra Tech, which is based in Dubai, announced that as a result of a partnership with Mastercard, it managed to expand its payment ecosystem.
Apexx Global Scores $25 Million Series B
The investment management platform Apexx Global announced the receipt of additional financing in the amount of $25 million.
US Department of Agriculture to put State Benefits on Mobile Phones in Five States
The U.S. Department of Agriculture (USDA) will provide citizens eligible for financial support under the Supplemental Nutrition Assistance Program (SNAP) in Illinois, Louisiana, Massachusetts, Missouri, and Oklahoma with the opportunity to receive benefits and make payments via NFC or QR code for relevant purchases on a mobile device.
Numeral Launches in UK to Help Fintechs Access EU Markets
The French platform for aggregating banking transactions and automating payments, Numeral, has announced the start of work in the UK financial market.
Payments are the transfer of money between two parties in exchange for goods, services, or to settle obligations. They can be made through various online and offline methods like cash, cards, bank transfers, mobile wallets, or digital currencies.
Payments are foundational to the fintech industry. They represent the most frequent and essential financial interaction between individuals, businesses, and institutions. In fintech, innovations in payments focus on making transactions faster, affordable, more secure, and inclusive.
These money transfers are often the entry point for broader digital financial services, such as lending, insurance, or investment, and play a key role in driving financial inclusion and global commerce.
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