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ProjectPay , the construction payments fintech, which received a project grant funded by the government’s innovation division, Innovate UK, to research and test how to solve cashflow problems in the construction industry, has now published its findings. The report has been provided to the government.
Saudi Arabia for Information Systems Technology to operate digitalpayment services via an electronic wallet in the Kingdom. This license marks an important step in enhancing the companys position in the growing digitalpayments market in Saudi Arabia.
“The initiative is the first of its kind globally to adopt a stablecoin pegged to the UAE dirham for public transport payments,” the partners say. “This milestone is part of joint efforts to enhance digitalpayment solutions and develop a smart, secure, and seamless transportation experience.”
Early 2000s The turn of the millennium saw the rise of tech companies attempting to break into new ground in the digitalpayments and e-commerce space, with PayPal at the forefront. The fintech pioneered the first phase of digitalpayments, enabling secure online transactions and laying the groundwork for future wallet technologies.
Government agencies face mounting pressure to provide efficient, secure, and accessible payment options for their services, agencies, and constituents. Challenges in GovernmentPayment Processing Government agencies manage a diverse range of payment types, including tax payments, permit fees, licensing, utility bills, and fines.
Episode Six (E6), a leading global provider of enterprise-grade payment processing and ledger infrastructure, today announces a partnership with payment solutions and services provider Secupay to provide asylum seekers with payment cards, enabling them access to financial support from the German Government.
Payments giant Mastercard is joining forces with E mirates NBD , the banking group in the Middle East, North Africa and Trkiye region, to enhance the bank’s digitalpayment solutions. ” The post Emirates NBD Partners With Mastercard to Enhance DigitalPayment Platform appeared first on The Fintech Times.
Digital currency systems could prove to be key in improving financial inclusion and opening up new opportunities to large underbanked communities in many African countries. Together, we are equipping Africa with the tools to embrace blockchain-powered tokenisation and drive sustainable development.”
Trustly , the global leader in Pay by Bank, and Point & Pay , a leading payment processing provider for government agencies, today announced an integrated product partnership. “This collaboration helps government agencies simplify their payment systems, reduce processing costs, and improve the overall customer experience. .
IDEMIA Secure Transactions (IST) has partnered with the National Payment Corporation of Vietnam ( NAPAS ) to help expand the country’s digitalpayments infrastructure. Through the partnership, NAPAS will integrate ISTs tokenisation technology into its domestic payment network, which connects over 40 banks.
The National Bank of Cambodia (NBC) today marked the official integration of the Bakong Tourists app with Visa , expanding digitalpayment options for international visitors. Chea Serey, brought together about 300 participants, including representatives from government ministries, international payment firms, and private companies.
Visa (NYSE: V), a world leader in digitalpayments, and MISA , a provider of digital transformation solutions for finance, accounting, and enterprise management, announced a strategic collaboration to empower Vietnamese businesses through comprehensive digitalpayment solutions.
The app simplifies digitalpayments for international tourists visiting Cambodia. million merchants across Cambodia , a major advantage in a country where only 60,000 POS machines accept card payments. The Bakong Tourists app also benefits local businesses by improving efficiency and security in digital transactions.
According to The State of Digital Retail Payments in Asia Pacific 2024 by Forrester , high-growth economies like Indonesia and Malaysia are leading the shift, with consumers increasingly favouring digitalpayments. Singapores Fluid DigitalPayment Landscape Singapores digital wallet scene presents an interesting mix.
Visa , a global leader in digitalpayments, today announced that with Visa Direct, funds transferred to U.S. Consumers, businesses, and governments can use Visa Direct to deposit funds to bank accounts linked to eligible debit cards in real-time1. Faster Payments Council (FPC).
The Vietnam Consumer Trends 2024 report, released in October, explores key drivers set to fuel Vietnam’s growth and opportunities, highlighting that digitalpayment methods are gaining dominance, and helping improve financial inclusion and accessibility. rate in 2023. The implementation of the sandbox will last a maximum of two years.
By integrating Alterya’s tools with the Chainalysis blockchain data platform, the partnership seeks to improve fraud detection across digitalpayment systems. Alteryas technology has reportedly helped reduce fraud by 60% for some crypto exchanges while improving operational efficiency.
The Payments Association , the trade group representing the payments sector, has launched its Payments Manifesto for 2025, urging the UK government to modernise the payment infrastructure to ensure consumer protection. ” Is the UK risking falling behind?
These changes, which include lifting restrictions on WhatsApp Pay and postponing the implementation of a market share cap for UPI apps, underscore the NPCIs commitment to create a fairer digitalpayment landscape in India, and ensuring equal opportunities for all participants, India TV News reported.
Absorbing the PSR’s responsibilities into the FCA risks adding further complexity to an already demanding agenda, potentially disrupting the ongoing development and supervision of the UK payments ecosystem with a view to kickstart growth.
From riverside camps in the Northeast to homestays nestled in the Himalayas, the rise of UPI and other digitalpayment systems has opened new doors for travelers and small tourism operators alike. The Digital Leap into India’s Travel Heartland For decades, rural tourism in India remained a cash-first, often cash-only ecosystem.
Governmental initiatives across the Middle East and North Africa (MENA) are successfully encouraging consumers to adopt digitalpayments, while the region is also quickly aligning with global standards, payment solutions provider Checkout.com has revealed.
Digitalpayments company Visa has teamed up with TECH5, a biometrics and digital identity management company, to focus on the development and enhancement of digitalgovernment ecosystems on a global scale.
PayTabs Group , MENA’s award-winning payment orchestration powerhouse today announced the successful acquisition of majority stake in PayTabs Egypt , solidifying its commitment to driving digital transformation and financial inclusion across Egypt.
Africas digitalpayments economy is set to grow from strength to strength according to a Mastercard-commissioned report by Genesis Analytics stating that the digitalpayments economy is expected to reach $1.5 The post DigitalPayments Economy in Africa Expected to Reach $1.5 trillion by 2030.
Modulr , a leading digitalpayment services provider, is today announcing a significant new contract with His Majesty’s Revenue and Customs (HMRC) for the provision of Confirmation of Payee (CoP) services. In addition to CoP, Modulr has a comprehensive strategy tailored to payments in the public sector.
Southeast Asias fintech industry is flourishing, driven by soaring adoption of digitalpayments, alternative lending, and wealthtech. Moreover, ongoing ASEAN integration initiatives to connect real-time payment systems are boosting cross-border digitalpayments and fueling regional commerce.
a world leader in digitalpayments and TECH5 , an innovator in the field of biometrics and digital identity management, have signed a strategic collaboration agreement focusing on the development and enhancement of digitalgovernment ecosystems on a global scale. Visa Inc.,
In a strategic move to accelerate digitalpayments, financial inclusion, and modernizing the country’s payment ecosystem, BPC , a global leader and payment solutions provider, is announcing the expansion of its operations in Nigeria.
With a suite of public sector solutions that help communities shift to the safety, security, transparency and speed of digitalpayments, Mastercard helps governments use technology to further drive financial inclusion. The post Rellevate Announces Partnership with Mastercard to Advance DigitalPayments Capabilities in the U.S.
Visa is using AI tools to ramp up its fight against fraud, as financial institutions face mounting threats in an increasingly digitalizedpayments environment.
The European Investment Bank (EIB) is providing €220 million in financing to Nexi Group , Europe’s largest PayTech company, to support innovation in the digitalpayments sector. The post EIB Provides €220 Million to Nexi to Back DigitalPayment Innovation in Europe appeared first on FF News | Fintech Finance.
Back in 2023, digital wallets accounted for 82% of China’s e-commerce spending and 66% of physical purchases, totalling around US$7.6 Alipay and WeChat Pay dominate China’s digitalpayment landscape, making it the largest and most influential wallet market globally, according to Worldpay’s The Global payments Report 2024.
Asia-Pacific: The Nucleus Change The Asia-Pacific region is home to some of the most advanced and dynamic digital economies in the world. BPCs SmartVista is a digitalpayments platform that enables banks, fintechs, and governments to manage a range of services including card issuing, digital banking, and real-time payments.
This year’s survey also highlights an uptick in digitalpayment methods, with 65% of respondents preferring to pay digitally and paper-based checks declining year-over-year (YoY) to only 15%, largely contributed by Baby Boomers and Gen X. .
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have announced the incorporation of a new entity, Singapore Payments Network (SPaN), to oversee the administration and governance of the country’s national payment schemes.
The digitalpayments landscape is rapidly evolving, driven by technological advancements and changing consumer preferences. As we look towards 2025, several key trends are shaping the future of digitalpayments, including contactless payments, cryptocurrency transactions, and mobile payment solutions.
Digitalpayments are transforming global financial systems, reshaping how individuals and businesses transact. In the fintech space, digitalpayments represent a major driver of innovation. Despite regulatory uncertainties, blockchains adoption in payments is likely to expand.
Today, digitalpayments, including bank transfers, cards, QR codes, are the norm,” he said. Despite this, the ongoing shift from a cash-based society to widespread use of digitalpayments reflects a population that’s increasingly open to modern financial tools, including stock trading, he said.
Direct digitalpayments are set to overtake cash transactions in the Asia Pacific region by 2028, according to findings from Euromonitor International. Asia Pacific recorded the highest digitalpayment transaction value in 2023, worth US$ 29,063 billion and accounting for 52% of the global total.
Mastercard and Amazon Payment Services have signed a multi-year commercial partnership agreement to digitizepayment acceptance in Middle East and Africa, across countries including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, South Africa and UAE.
The integration will streamline the payment process, reduce friction, and boost overall operational efficiency for merchants across various sectors. End users of noqodis platform can now enjoy greater convenience with faster and smoother transaction processes, leading to quicker payment processing times.
Governments are directly advancing real-time digitalpayments — a welcome move for Ripple, which is applying its relationship with MoneyGram and a growing base of eager partners to expand its network.
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