07/24/2023
Federal Reserve launches instant payment system FedNow
The Federal Reserve launched its long-awaited instant payment system, FedNow, in a move that industry pundits have already dubbed as lagging behind the times.
Retail Banking
07/24/2023
Mastercard introduces automated receivables for virtual cards
Mastercard Receivables Manager was developed to make virtual card transactions more efficient, secure and cost-effective to process.
07/21/2023
Swiss lender TP24 raises £345m from Barclays and M&G to support SMEs in the UK, Netherlands and Australia
Managing director Niels Turfboer believes TP24 can become a major UK SME lender by filling the gap between banks and existing alternative lenders.
07/21/2023
US instant payment network FedNow goes live
As an interbank payment system, the FedNow Service operates alongside other longstanding Federal Reserve payment services such as Fedwire and FedACH.
07/21/2023
Fawry, Smart Schools join forces to launch e-payment portal
The partnership will enable Smart Schools to access a bunch of innovative digital solutions provided by Fawry to collect school fees safely and easily
07/21/2023
Tymit blocks new credit card applications as it pivots to B2B2C
Existing Tymit credit card customers can continue using their cards for now.
07/20/2023
Citi inroduces electronic trade loans for US commercial clients
The solution is designed to help clients meet their current and projected working capital needs
07/20/2023
Fintechs demand end to hidden bank fees in international payments
The total cost of currency conversions needs to be shown up front to consumers and SMEs before they make a payment.
07/20/2023
Deutsche Bank joins CLSNet
The service has seen a marked increase in adoption over the past year, with a year-on-year increase of over 400% in the average daily volume of net calculations in Q1 2023.
07/20/2023
ACI Worldwide and Dock team up to launch Acquiring-as-a-Service
This innovative as-a-service model redefines the acquiring landscape
07/19/2023
Bunq hits 9m users in Europe, doubles deposits in four months
Europe’s neobank for digital nomads continues to scale at pace, hitting €4.5bn in deposits as it launches cashback and savings interest.
07/19/2023
ConnexPay launches real-time B2B payments in Europe with GBP, EUR currencies
The all-in-one platform allows merchants to have immediate access to incoming customer payments, which they can then use in real time to fund virtual cards to pay suppliers.
07/19/2023
Online Retailers Using Embedded Finance With Provenir, J.D. Power, TreviPay, Valuedynamx and Galileo
The rise of embedded finance is centred around giving consumers more choice and flexibility when it comes to making payments.
07/18/2023
The Global Growth of Digital Gift Cards Continue in the UAE and US
New findings from MENA-based digital gift card marketplace YOUGotaGift reveals growing interconnectivity and cross-cultural ties.
07/18/2023
Fintech lender Silvr lands €230m credit facility
Silvr’s new cash comes via a deal with alternative investment fund manager Channel and banking giant Citi.
07/18/2023
Touch ‘n Go eWallet Users Can Now Send Remittance to 10 Countries
Senders are required to complete their verification via e-KYC to use GOremit services and can choose to transfer to the recipient’s bank account, local e-wallet or to cash pick-up points.
07/18/2023
Thunes extends its Series C to $72m with Visa backing
The fintech powering global payments initially raised $60m led by hedge fund Marshall Wace.
07/18/2023
TrustPay and IXOPAY join forces
TrustPay offers a comprehensive range of payment services
07/18/2023
Wise buoyed by rising interest rates and customer growth
Last month Wise reported a tripling in financial profits from £43.9m in 2022 to £146.5m for the year ending March 2023.
07/17/2023
Payment Service Provider ‘InstaPay’ to Begin Adding Fees for Transactions in 2024
The application relies on data and encryption security ensuring the restriction of access to any data between the client and their bank.