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The programme will leverage Crypto.com’s recently acquired Payment ServiceProvider license from the CentralBank of Bahrain. The collaboration will support the introduction of a new crypto-linked card programme, starting in Bahrain with plans to expand across the Gulf Cooperation Council (GCC) region.
The CentralBank of Kuwait (CBK) has released a circular reinforcing the regulatory framework for electronic payment serviceproviders, electronic money institutions, and payment system operators.
In Singapore, the centralbank strengthened in 2024 the Payment Services Act (PSA), introducing more stringent requirements for crypto serviceproviders relating to AML/CFT, user protection and financial stability on serviceproviders.
Third, the CPMI will continue to engage with payment system operators and payment serviceproviders to encourage them to implement the harmonised data requirements by end-2027.
Payment providers to strategically invest in ISO 20022 implementation, API integration, and service innovation to fully leverage RT2’s capabili The launch of RT2, the renewed Real Time Gross Settlement (RTGS) service, on 28 April 2025 marks a significant milestone for the UK’s payments infrastructure.
Finally, the CPMI will continue engaging with payment system operators and payment serviceproviders to encourage them to implement the harmonised data requirements by the end of 2027. To achieve this, the CPMI is supporting industry-led efforts, including the relaunch of the Instant Payments Plus (IP+) market practice group.
Kraken , the crypto tech platform, has achieved a new milestone in its European expansion as the firm announces it has been granted a licence under the European Union’s Markets in Crypto-Assets Regulation (MiCA) by the CentralBank of Ireland (CBI). ” Capitalising in Europe The euro now accounts for 17.5
A consortium of centralbanks has formally established Nexus Global Payments (NGP) in Singapore to manage a new multilateral cross-border payment system. The founding members are the Reserve Bank of India, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore (MAS), and the Bank of Thailand.
In particular, cloud computing is becoming increasingly prevalent, with 60% of banks in Singapore migrating their core systems to the cloud. Artificial intelligence (AI) is also gaining traction, particularly for risk assessment and operational efficiency. In contrast, the Philippines has adopted a regulatory-mandated approach.
Africhange , a leading cross-border remittance serviceprovider, announced today that its Nigerian subsidiary, Currenzo , has secured the International Money Transfer Operator [IMTO] licence from the CentralBank of Nigeria [CBN].
By advancing Open Banking adoption across the financial sector and leveraging national payment infrastructures and existing payment rails, this collaboration enables banks, payment serviceproviders (PSPs), and regulators to streamline compliance, enhance digital transactions, and build scalable financial ecosystems.
This article will show all you need to know about online credit card processing and how you can select the best payment servicesprovider for your needs. The issuing bank : this is the customers bank that issued the credit card to the customer on behalf of the card networks, such as Visa, American Express, Mastercard, and Discover.
In November 2023, the European CentralBank (ECB) began the preparation phase of a digital euro. Beforehand, there was an interim review carried out by members of the Rulebook Development Group , representing the views of consumers, retailers and payment serviceproviders.
Consumers can use it to make transactions with merchants and serviceproviders. Since its introduction by the CentralBank of Brazil in 2020, Pix has become a habitual payment method in the largest country in South America.
To this end, partnerships between banks and fintechs that create the best experiences for consumers and businesses are becoming increasingly critical.” On one side, you have the traditional banks, the long-standing high street incumbents that have historically providedbankingservices to businesses and individuals.
This forum, comprising representatives from Asia Pacific financial regulators and cloud serviceproviders, convenes twice a year to discuss best practices for managing cloud risks in the financial sector.
When onboarding new serviceproviders, fintechs, or merchant partners, a token-based architecture allows for quicker, cleaner integration by decoupling sensitive data from transaction logic. Token frameworks can also accelerate partner integration. This enables rapid scaling of new payment use cases, without duplicating risk exposure.
The two firms will also collaborate on building national open banking hubs, providing regulators and centralbanks with a scalable financial infrastructure to accelerate sector-wide innovation.
The nation’s fintech journey began at least as early as 1990 when Nepal Arab Bank (now known as NABIL Bank ) introduced credit cards. Shortly after, the country’s fintech sector enjoyed growth, as banks integrated mobile bankingservices and payment serviceproviders (PSPs) into their offerings.
According to the Dutch CentralBank , a single debit card transaction emits as much as leaving an 8-watt light bulb on for 90 minutes. We will also examine the growing influence of sustainable payments on consumer behaviour and their role in facilitating greener e-commerce.
Ralf Germer, CEO and co-founder, PagBrasil Pix has been a giant windfall for Brazil and is now responsible for 90 per cent of bank transactions in Brazil. In 2025, PagBrasil received authorisation from the CentralBank of Brazil to operate as a payment institution (PI) in the electronic money issuer category.
The Bank of Canada has opted to utilise the Canadian Collateral Management Service (CCMS) to execute its market operations with greater speed and flexibility. The CCMS also provides exclusive domestic tri-party repo capabilities to increase repo market liquidity.
iNet , the independent Saudi CentralBank-licensed network serviceprovider (NSP), is supporting the growth of the Kingdom’s fintech sector by becoming a part of global paytech ACI Worldwide ‘s Retail Payment Solutions (RPS) for Postilion programme.
Digital-first financial institutions have become key drivers behind cards’ sustained presence and growth in rising economies, according to new data revealed by EBANX , the global payment serviceprovider (PSP). Through this, many fintechs now have a similar reach to themajor traditional banks in emerging markets such as Brazil.
Cross-border remittance serviceprovider, Africhange has improved its ability to facilitate inward remittances for immigrants and diaspora communities sending money to Nigeria as its Nigerian subsidiary, Currenzo , secures the International Money Transfer Operator (IMTO) licence from the CentralBank of Nigeria (CBN).
The European PSD2 framework, growing pressure on big techs financial ambitions, and centralbank digital currency (CBDC) discussions all indicate a looming regulatory crackdown. Digital wallets are expanding faster than financial oversight can keep up, forcing governments to scramble for new safeguards without choking innovation.
According to internal data from EBANX , a global Payment ServiceProvider (PSP) that has already processed transactions for nearly 70% of Brazil’s credit cardholders, fintech companies and digital players now account for 41% of the total value transacted through credit cards for online purchases in Brazil.
Launched on 16 June, the new service rolled out by the CentralBank of Brazil will enable recurring payments to be made using Pix, without the need for credit cards or complex direct debit setups. However, in mid-2024, it was delayed by the CentralBank. After much anticipation, Pix Automatico is finally here.
You also need a payment servicesprovider that supports your chosen payment methods, but that providers platform must integrate seamlessly with your existing CRM, ERP, payroll, CMS, and accounting software systems. Digital currencies are instead based on a decentralized system and no single entity controls their supply.
Ant International , a leading global digital payment, digitisation and financial technology provider, has opened a new office location in the central business district of Al-Olaya, Riyadh, Kingdom of Saudi Arabia (KSA), following its successful technical certification as a Payment Technical ServiceProvider (PTSP) from Saudi CentralBank (SAMA).
Morocco has become the 17th country to welcome the Pan-African Payment and Settlement System (PAPSS), a centralised financial market infrastructure that enables the efficient flow of money securely across African borders, as Bank Al-Maghrib officially signed the PAPSS membership agreement.
The experiment was carried out in partnership with Thales, Secretarium, and Consult Hyperion, demonstrating both the technical plausibility and the layered complexities of enabling a centralbank digital currency (CBDC) to function without internet connectivity. For payments leaders, the findings are not simply a technical footnote.
The Saudi CentralBank (SAMA) has teamed up with Google to roll out Google Pay in 2025 through the national payment system ‘mada’ This agreement is part of SAMA’s initiatives to improve the digital payments infrastructure in Saudi Arabia, consistent with the goals of Saudi Vision 2030.
Checkout.com , a leading global digital payments company, today announced its intention to expand its card issuing capabilities in the UAE, marking a first-of-its-kind investment by a global digital payment serviceprovider in the region.
It is poised to create opportunities for banks, payments companies and business servicesproviders to create efficient and convenient tools for the business owners the Wall Street Journal called ‘The Stealthy Wealthy’. Embedded finance can change this.
Challenges emerge as each PSP across the Eurozone must establish its own VOP service or select a serviceprovider known as a routing and verification mechanism (RVM ) in order to comply with the scheme rulebook.
Globally, preparations for centralbank digital currencies and evolving open finance frameworks signal longer-term structural change. The Payments Regulation Roadmap for Q3 2025 provides a forward-looking view of the legislation and consultations shaping the compliance landscape.
Limassol, Cyprus, April 4th, 2025, FinanceWire B2PRIME Group , a leading global financial servicesprovider for institutional and professional clients, has released its market report for 2024. Private Credit Expansion : Business development companies increased competition , driving demand for flexible liquidity solutions.
Also, with Lemonway being a payment institution regulated by the ACPR, the company will serve as PayGreen’s Payment ServiceProvider (PSP), allowing the latter to enter the European market where Lemonway serves over 400 platforms in approximately 20 countries.
Fintech stakeholders have welcomed provisions that align FIDA with other regulatory frameworks, such as the PSR and PSD3, particularly the authorisation process for Account Information ServiceProviders (AISPs) to become Financial Information ServiceProviders (FISPs).
DirectPay is a leading financial and payments servicesprovider with more than 1,300 agent locations throughout Greece, offering MoneyGram money transfers, bill payments, cash-to-bank deposits, and a full suite of financial services.
Pay10, a global alternative payment platform, has received a payment serviceprovider licence from the CentralBank of Bahrain (CBB), clearing the way for the company to offer regulated digital payment services in the Kingdom. per cent in value, according to the CentralBank of Bahrain.
The CentralBank of Bahrain (CBB) has updated its open banking framework, mandating all licensed banks to expose APIs for corporate accounts. The amendments also require obtaining customer consent and authentication, licensee disclosures, and reporting API performance by serviceproviders.
Almost 70 market participants including merchants, fintech companies, start-ups, banks and other payment serviceproviders have signed up to work with the ECB to explore digital euro payment functionalities and use cases. Findings from both workstreams will be published by the ECB in a report to be published later this year.
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