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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

Championed by the Central Bank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financial inclusion and enhancing economic stability. 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

Championed by the Central Bank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financial inclusion and enhancing economic stability. 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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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. UPI enabled real-time, instant payments across multiple bank accounts via a single mobile application.

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

Fintech News

Today, the initiative is led by Nexus Global Payments (NGP) , a not-for-profit organisation formed by the central banks and IPS operators of five pioneering countries: India, Malaysia, the Philippines, Singapore, and Thailand. That makes it more inclusive, especially for smaller banks or markets that are typically underserved.

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

Finovate

Its fair to say that traditional financial systems left many people and communities underserved, but LPMsfrom mobile wallets in Africa to RTP schemes like UPI in Indiabridge this gap, and theyre empowering billions of consumers to participate in the digital economy. And thats a really positive development.

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Pay10 Secures Central Bank of Bahrain License to Deliver Real-Time, Regulator-Aligned Payment Solutions

Fintech Finance

The Central Bank of Bahrain has officially approved Pay10 , which is a big step in its plan to grow in the region. Harry Gill , Pay10 Chairman stated: “We are honored to receive this license from the Central Bank of Bahrain and to support the Kingdom’s progressive approach to financial innovation.