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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

The Somalia Payment Switch (SPS1) has successfully launched the country’s first ever Instant Payment System with QR payments support powered by BPC’s next generation SmartVista platform, a global leader in payment solutions2. The demand for secure, fast, and modern payment solutions has been pressing.

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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

The Somalia Payment Switch (SPS1) has successfully launched the country’s first ever Instant Payment System with QR payments support powered by BPC’s next generation SmartVista platform, a global leader in payment solutions2. The demand for secure, fast, and modern payment solutions has been pressing.

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New Era for Payments in Somalia: Somalia Payment Switch Launches Instant Payment System

The Fintech Times

The Somalian financial ecosystem has taken its next step in the digital world as the Central Bank of Somalia’s (CBS) payments initiative, the Somalia Payment Switch (SPS), has successfully launched the country’s first instant payment system.

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Nexus Empowers APAC Financial Institutions to Achieve G20 Cross-Border Payment Targets

Fintech News

Initially developed by the BIS Innovation Hub, Project Nexus aims to link domestic instant payment systems (IPS) through a single multilateral gateway, replacing the current patchwork of costly and complex bilateral connections. What is Project Nexus, and how does it address today’s cross-border payment challenges?

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The Journey of Payments and Clearing Systems in India

Finextra

Pradhan Mantri Jan Dhan Yojana (PMJDY) (2014): Government scheme for financial inclusion, opening millions of zero-balance bank accounts, creating a broad base for digital payments. Unified Payments Interface (UPI) (2016): The game-changer. Its simplicity, interoperability, and low cost made it an instant success.

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dLocal Bags New Licences and Authorisations in the UAE, Turkey, and the Philippines

The Fintech Times

In Turkey, dLocal has received authorisation from the Central Bank of the Republic of Türkiye to operate cross-border payments via Lidio Payment Services Inc (Lidio). This licence enables dLocal to directly operate cross-border flows for both payins and payouts, its two main services, within the country.

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Finovate Global: Boku’s Stuart Neal Talks About Local Payment Methods, EPI, and More!

Finovate

Payments as an industry is finally beginning to reflect the diversity of peoples preferences around the world. Neal: While still in its early stages, the European Payments Initiative (EPI) is playing a crucial role in reshaping the EU payment landscape. And thats a really positive development.