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MAS Fines Five Payment Firms S$960,000 Over AML/CFT Control Failures

Fintech News

Arcade Plaza Traders (APT) was fined S$260,000 for failing to screen customers and related parties for money laundering and terrorism financing risks, and for omitting originator details in wire transfer instructions.

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Deel Acquires Atlantic Money for Undisclosed Sum

Finovate

based international funds transfer company Atlantic Money. Payroll and compliance company Deel has acquired international funds transfer company Atlantic Money. Payroll and compliance company Deel has acquired international funds transfer company Atlantic Money. Deel has acquired U.K.-based

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The Journey of Payments and Clearing Systems in India

Finextra

Early Electronic Initiatives (late 1980s/early 1990s): Limited electronic fund transfers began to emerge, mainly within banks or for specific corporate clients, but were not widely interoperable. This democratized electronic fund transfers for individuals and small businesses.

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Live Oak Bank Implements Finzly’s Fedwire Solution

Finovate

The company most recently demoed its technology at FinovateSpring 2022 in San Francisco. Fedwire is a real-time electronic funds transfer system operated by the Federal Reserve Banks, enabling financial institutions to send and receive money. Finzly is a two-time Finovate Best of Show award winner.

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Do Payment, the Peruvian Fintech for Instant Payout, Prepares to Enter the U.S. and Brazil

Fintech Finance

In 2022, he founded Do Payment with the goal of enabling real-time fund transfers to end customers and eliminating payment friction. Recognizing this opportunity in the payments industry, Cristian Valderrama saw the potential to speed up money collection and disbursement.

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What is a Payment Processing System and How Does It Work?

Stax

According to the US Federal Reserve in 2022, general-purpose card payments reached $153.3 Payment processing systems help merchants accept various types of payments, such as credit and debit cards, automated clearing house (ACH) , electronic funds transfers (EFTs), digital wallets, mobile payments, and even cryptocurrencies.

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Affirm delves into in-game payments

Payments Dive

billion in 2022, according to the Electronic Software Association. The Consumer Financial Protection Bureau in January proposed an interpretive rule that would require video game companies to comply with the Electronic Fund Transfer Act. consumers spent $59.3 billion on video game-related purchases in 2024,up from $57.2

Payments 155