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After acing that deadline, the bank expanded to serve fintechs and other banks across the region, enabling instant digital issuing, winning industry recognition for fintech innovation, and announcing plans to build a mobile wallet marketplace by leveraging its new payments infrastructure.
As the global demand for faster, more affordable, and increasingly transparent cross-border payments intensifies, Project Nexus is emerging as a foundational initiative to meet the G20’s ambitious roadmap. Eli Shoshani Eli Shoshani is Head of APAC at Bottomline , a leader in global business payments with extensive expertise in the region.
Telr , an award-winning leader in digital payments across MENA, has secured a Retail Payment Services License (RPS) by the CentralBank of the UAE, marking a transformative milestone in its mission to drive financial innovation and seamless digital transactions.
Once a system for masking sensitive data, tokenisation has evolved into a foundational technology for enabling secure, interoperable, and scalable digital payments. However, with its growing role comes increasing complexity, particularly in terms of integration, regulation, and the architecture of future payment flows.
Presidency Banks: The Bank of Bengal (1806), Bank of Bombay (1840), and Bank of Madras (1843) were established, later merging to form the Imperial Bank of India (1921), which eventually became the State Bank of India. These banks introduced formal ledger-based accounting and cheque payments.
EuroPA is an alliance of national digital payment champions – 𝗕𝗮𝗻𝗰𝗼𝗺𝗮𝘁(Italy), 𝗕𝗶𝘇𝘂𝗺 (Spain), 𝗠𝗕 𝗪𝗔𝗬 (Portugal), 𝗕𝗹𝗶𝗸 (Poland), 𝗜𝗥𝗜𝗦 (Greece), and 𝗩𝗶𝗽𝗽𝘀 𝗠𝗼𝗯𝗶𝗹𝗲𝗣𝗮𝘆 (Nordics). Wero enables instant, account-to-account (A2A) payments without relying on traditional card networks.
ACI Worldwide has unveiled ACI Connetic , a new cloud-native platform designed to streamline payment processing for banks and financial institutions. ACI Connetic combines account-to-account transactions, card payments, and AI-powered fraud prevention into a single platform.
Our goal was clear: overcome the fragmentation that plagued international merchants, who had to maintain different payment solutions for each country, leading to operational complexity and significant costs.
The significance of cross-border payments has never been greater. Yet, despite the rise of instant domestic payments, cross-border transactions remain slow, costly, and inefficient. Project Nexus seeks to change all of this by enabling real-time, cost-efficient cross-border payments.
To address this, stakeholders including NETS Group and Liquid Group are working on interoperable QR payment solutions that are designed to simplify processes for merchants, Chia said. On the international front, cross-border payments have presented a different set of challenges.
This logic, however, has been increasingly challenged, and the sector where this shift is advancing by leaps and bounds is digital payments. E-wallets perfectly illustrate this transformation because theyve become more than payment methods; theyve evolved into ecosystems developed to meet the specific demands and needs of local populations.
Payments and liquidity solutions company Wannme raises 7M Wannme , a Madrid-based fintech that specializes in payments and liquidity solutions, announced a 7 million strategic financing from IDC Arena Credit Ventures, a division of IDC Network, with Arena Investors also participating in the funding.
Verification of Payee (VOP) scheme rules have been released by the European Payment Council (EPC) to comply with the EU’s InstantPayments Regulation (IPR). As implementation progresses, financial institutions are grappling with data security, core banking change, and ensuring all-channel implementation of VOP.
Payments regulation roadmap: Q3 2025 18 July 2025 by Payments Intelligence Introduction Regulatory developments continue apace in the payments industry, ushering in a period of intensified complexity and strategic significance. Tackling this with tactical fixes only deepens the challenge.
Mastercard’s payment technology allows developers to safely test and refine new features and capabilities within a trusted and secure environment, without affecting critical infrastructure. Later in 2025, Mastercard intends to provide access to its A2A instantpayments technology via a sandbox.
A global leader in trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, centralbanks, governments, and corporate organizations, ION will provide software and infrastructure to power market access, clearing, and margin processing for the GFO-X ecosystem.
The regulatory landscape for fintechs and financial services companies operating in the European Union is expected to undergo significant changes this year, with new standards, guidelines, and rules governing payments, data privacy, digital assets, and more. One early issue will be compliance with the InstantPayments Regulation (IPR).
Aani, operated by Al Etihad Payments , has become a crucial part of the CentralBank of the UAE’s National Payment Systems Strategy (NPSS), which aims to create a digitised, cashless economy in the UAE. Mashreq led the first stage of Aani’s implementation alongside seven other UAE-based financial institutions.
The second most used instantpayment method in the world, Brazil’s Pix will have a recurring transaction capability, Pix Automático (Automatic Pix in free translation), set to be launched by the CentralBank of Brazil next year, on June 16th.
The Bank for International Settlements (BIS) and its partners have revealed the comprehensive blueprint for phase three of Project Nexus, which seeks to address longstanding challenges in international money transfers by leveraging the power of domestic instantpayment systems (IPS). How Does Project Nexus Work?
Reports have said the move by the payments messaging company positions the firm take on payments giants Visa and Mastercard. ” Reports noted the importance of SWIFT expanding into the SMB payments arena beyond high-value complex corporate transactions. Sila Raises Funding to Nix ACH. The company recently announced $7.7
one of Europe’s leading PayTechs, announced today its partnership with Zimpler, a leading company in instantbankpayment solutions, with one of the highest bank coverages in the Nordics. With the new direct integration to Zimpler, payabl.’s s customer base,” says Zimpler’s CEO, Johan Strand. “We
In a recent webinar hosted by the Fintech News Network, experts from the Bank for International Settlements (BIS), Wise, Airwallex, and LexisNexis Risk Solutions explored the latest trends and developments in cross-border payments, emphasizing the pioneering role of Southeast Asia in this rapidly evolving landscape.
a leading European financial services provider, today announced the launch of its Payment Accounts, a cloud-based, API-first solution designed to help businesses of all sizes manage their day-to-day payment needs within a single easy-to-use platform. Developed by payabl.’s Developed by payabl.’s With payabl.’s With payabl.’s
Based on the European CentralBank’s revealed statistics for 2024, the total number of digital payments in the euro area in the first half of 2024 increased by 7.4% Is the industry prepared to handle the growth in digital-first payments, or will slow adopters be left scrambling to retrofit legacy infrastructures?
The transaction volume of payments in the Middle-East and Africa region is set to almost quadruple by 2027 ($2.6billion) from its value in 2022 ($675million). Government initiatives and strategic adoption Governmental strategies and regulatory frameworks in MENA countries are crucial in promoting the adoption of instantpayments.
In the journey to improve the payments experience, sometimes the best user experience (UX) is an unnoticeable one. Key to achieving this goal is data integration, yet in markets where open banking frameworks aren't as advanced as jurisdictions like the U.K., A Better Payments Experience. Making Payments Invisible.
The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET InstantPayment Settlement service. The service, as has been reported, lets customers make instantpayments from inside the Single Euro Payments Area (also known as SEPA ).
New research says businesses are eager to make the leap into real-time payments (RTP) — and to embrace new payment rails in their effort. A new survey from Citizens Bank says businesses are jumping into the real-time payments opportunity. Faster Payments Council Announces Board Advisory Group. This week, the U.S.
There is as yet no Venmo or Zelle for the $38 trillion global business-to-business (B2B) payments sector. That’s surprising for several reasons, and here’s a good one: nearly 70 percent of accounts payable (AP) professionals say suppliers value payments speed above all. Making Money Faster with APIs. Out with the Old.
The CentralBank of Brazil is set to launch a recurring transaction capability to Pix, the country’s instantpayment method, in partnership with global tech firm EBANX. EBANX is taking the lead for the new launch and is preparing to integrate global merchants with the new feature.
The Clearing House's real-time payments offering, the RTP ® network, continues to gather steam with financial institutions (FIs), FinTechs and their business customers in this week's Payment Rail Innovation roundup. Modern Treasury Raises Funding To Accelerate B2B Payments. Pakistan Preps InstantPayment System.
With 355 million gamers contributing to an expected US$14 billion market in 2024, LatAm is emerging as a major growth region for global gaming companies, presenting considerable opportunities for Asia-Pacific (APAC) firms, according to Eduardo de Abreu, Vice President of Product at EBANX, a leader in localized payment solutions.
Whether embracing development and adoption of new payment rails or developing solutions for legacy versions, the latest in payments innovation is all about speed – even for corporate payments. New research reveals that B2B payments are is expected to account for the largest portion of faster payments volume in the U.S.,
On 7th February 2024 the European Parliament[i] mandated that instantpayments (in less than 10 seconds) should be the de facto standard for consumers and businesses in the SEPA zone, with a deadline set of 9th January 2025 to deliver this service.
Banking Circle ’s latest enhancement to its Agency Banking solution provides Financial Institutions (FI’s) and Payment Service Providers (PSP’s) with a faster and cheaper access point to local payment schemes to expand into further markets. member, such as Banking Circle.
For today’s payment service providers, accelerating payments across borders means either developing new infrastructure, or making use of existing rails, to move money around the world. Below, PYMNTS looks at the latest news in cross-border payments innovation as industry players complete, collaborate and innovate.
Regular attestations and audits are essential to ensure the transparency and integrity of these reserves, building trust among users. This record high is driven by a wave of adoption from major global banks. MiCA does not cover centralbank digital currencies (CBDCs), but it allows regulated financial institutions (e.g.
At a time when the UAE’s financial services industry is undergoing unprecedented transformation, Financial Software and Systems (FSS) , a global leader in payments technology, hosted the Dubai edition of its flagship event Simply Payments 2025 series, convening top minds in Fintech, Government Payments, and Artificial Intelligence.
Ozone API and ProductCloud team up to help Australian firms meet open banking regulations A new partnership between Ozone API and ProductCloud will help companies in Australia comply with Open BankingAPI regulations, specifically Consumer Data Right legislation.
Part of the company’s senior leadership team, Ide is responsible for the strategy, growth, and execution of the business objectives at 10x Banking. He has a 13-year career in financial services technology with leadership roles in payments, financial infrastructure, and AML platforms. broker-dealer license.
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