This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
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.
This initiative aligns with the Qatari Government’s vision of digitalising payments, enhancing electronic banking services, and advancing the shift towards a cashless society. As we progress, we remain dedicated to working closely with Doha Bank to further tailor our services to meet the growing needs of the local economy.
Consumers, businesses, and governments can use Visa Direct to deposit funds to bank accounts linked to eligible debit cards in real-time1. In addition to enhancing the cardholders experience, this update opens new avenues for businesses and governments to grow and thrive. Faster Payments Council (FPC).
The launch event, led by NBC Governor Dr. Chea Serey, was attended by representatives from government agencies, financial institutions, and other industry stakeholders. This collaboration reflects our commitment to supporting the growth of Cambodia’s vibrant economy. This allows them to scan KHQR codes and pay at over 3.3
Cashflow problems are impacting the construction industry, and could potentially get worse in the government’s building boom. This report was created following funding from the government’s innovation division, Innovate UK , and explores how cashflow problems in the construction industry can be solved.
Thailand’s Prime Minister Paetongtarn Shinawatra announced that a portion of the government’s 450 billion baht (US$13.1 The digital handout, a central part of the ruling Pheu Thai Party’s election platform, aims to stimulate the Thai economy, which grew by 2.3%
This is crucial given that fraud is currently costing the UK economy 6.8billion. This would be especially helpful for SMEs, the backbone of the UK economy. Appoint a lead authority : To address market coordination failures, the Government should consider appointing a responsible body to oversee implementation and governance.
In December 2024, HMT announced the appointment of a Financial Inclusion Committee, tasked with advising the government on developing the first-ever National Financial Inclusion Strategy. The Governments decision to develop the Strategy reflects the growing number of financially vulnerable consumers in the UK. million in 2022.
The launch ceremony, led by NBC Governor Dr. Chea Serey, brought together about 300 participants, including representatives from government ministries, international payment firms, and private companies. The app also enables users to transfer funds to their individual Bakong accounts, offering an alternative to cash transactions.
Cyber threats should be prioritised as a key business risk like financial and legal challenges, the UK government has urged as it releases new guidelines to help directors and business leaders boost their cyber resilience. Such a move will significantly contribute to the overall security and resilience of the UK’s digital economy.
Singapore currently stands as the regional leader, or Champion, with exemplary ratings in market maturity and government initiatives. Regional integration is playing a key role, with governments accelerating their efforts to enhance cross-border commerce and digital economy participation.
List of national payment schemes and respective scheme administrators The consolidation is expected to enhance governance, support innovation, and contribute to the development of Singapores national payments strategy. Further details on the entitys name, governance structure, and board composition will be announced later this year.
The UK government has set over £100million aside for researching and developing Artificial Intelligence (AI) technology, and to support regulation in the space. The government has also pledged £10million to prepare and upskill regulators to address and make the most of the opportunities presented by AI.
Vietnam’s digital economy is rapidly expanding, reaching a value of US$30 billion in 2023 and projected to increase by 20% to hit US$43 billion by 2025. Growth drivers boosting Vietnam’s digital economy Vietnam’s digital transformation is supported by a number of factors.
Sibstar, the UK’s leading debit card and app for people living with dementia, is today calling for banks and governments to work closer together to ensure safer spending for financially vulnerable people. Sibstar is the UK’s first debit card and app that helps families living with dementia to safely manage their everyday spending.
Vietnam is undergoing a transformation and moving towards becoming a cashless economy, a shift that has been driven by innovative financial solutions and public initiatives, a new report by Chiming, a market research firm focusing on Vietnam and Indonesia, shows. rate in 2023.
Our innovative, secure, and efficient payment solutions are designed to help UK businesses scale globally and thrive in dynamic, emerging economies. The company has built strong partnerships with governments globally, ensuring that it operates securely and in full compliance with local laws.
Wise is spearheading a campaign urging the government to abolish this opt-out and implement tighter regulations to eradicate hidden fees, thereby fostering a more competitive environment and facilitating SMB growth nationwide. . This needs to end now, and the Government can do so without costing the taxpayer a penny.
Today Checkout.com, a leading global digital payments company, launches the inaugural Digital Economy Trust Index , which measures consumer confidence in digital platforms and ranks 16 countries based on security, transparency and user experience in the digital economy.
Following the collapse of Soviet control, Mongolia rapidly transitioned to a free-market economy by 1992, embracing economic reforms that opened the door to global trade and investment. Mongolia is currently classified as a lower-middle-income economy, with a gross domestic product (GDP) per capita exceeding $5,000.
Remittances play a vital role in the Ghanaian economy, and our goal is to make the process as seamless as possible for Ghanaians in the diaspora looking to send money home. This approval is a testament to our ongoing commitment to supporting financial inclusion and economic growth in Africa.
Africas digital payments economy is set to grow from strength to strength according to a Mastercard-commissioned report by Genesis Analytics stating that the digital payments economy is expected to reach $1.5 trillion by 2030.
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 digital payments. The government expanded the digital payment market reach by implementing initiatives like the Hawkers Go Digital program.
Industry leaders will drive discussions on the latest innovations shaping the digital economy. The event spans sectors from public services and smart cities to finance, retail, and manufacturing, fostering collaboration between tech companies, unicorn founders, AI startups, governments, and R&D experts.
It serves as FinTech Australias first major report into the tangible impact the industry is having both on the countrys economy and business across Australia. Rehan DAlmeida, CEO, FinTech Australia said: This report finally quantifies the power of fintech to transform our economy. Over 30% of businesses reported growth of over 2.5%
Meanwhile, government entities and businesses using noqodi will gain access to Checkout.coms extensive global network, empowering them with enhanced payment capabilities, including faster transaction processing and support for a wide range of payment methods across various sectors.
Future 100 is a national initiative led by the UAE Ministry of Economy and the Office of Government Development and the Future. Abdulla Bin Touq Al Marri, UAE Minister of Economy and Chairman of Investopia 2025; H.E. Ohood Bint Khalfan Al Roumi, Minister of State for Government Development and the Future.
The State Bank of Pakistan (SBP) has awarded Mashreq Pakistan a restricted license for pilot operations as part of the government’s strategy to unlock Pakistan’s digital potential and provide greater access to financial services to underserved consumer groups.
The regions strong fundamentals, coupled with a growing digital economy, promise continued growth and innovation in the coming years, a new report by Royal Park Partners (RPP), a fintech-focused corporate finance advisory firm, says. These platforms are bridging credit gaps, playing a crucial role in the supporting local economies.
Late payments cost UK SMBs an average of £22,000 annually, contributing to 50,000 business closures each year due to cash flow issues, according to the Federation of Small Businesses and the UK Government. According to the Office of the Small Business Commissioner, if SMBs were paid on time, this could boost the economy by an estimated £2.5
UPI has made formal financial services accessible to millions and has had a clear impact on Indias digital economy. The Platform has transformed the digital economy of India by making more seamless transactions and increasing financial inclusion. This positions it to compete effectively with global players like MasterCard and Visa.
Payments are vital to the UK economy and the PSR has an important role in supporting a growing, competitive payments sector. This review reflects extensive engagement with stakeholders, trends in payments both at home and abroad, the Governments growth mission, and the impact of the National Payments Vision (NPV).
Payment trends in Asia are changing how businesses and people transact from the digital-first economies of China and Singapore to the quickly changing markets of Indonesia and Vietnam. In Singapore, the government-backed API Exchange is promoting API standardisation.
This distinction is critical in cash-reliant economies across the Caribbean and parts of Asia. Many CBDC designs demand certified hardware, regulated wallet providers, or integration with legacy financial systemsrequirements that can deter participation, especially within informal economies.
Businesses on Stripe range from AI champions like ElevenLabs and Synthesia and fintech leaders such as Revolut and Monzo, to British institutions like Tesco, Hargreaves Lansdown , and the UK Government. Were on the cusp of two giant leaps for the economy: stablecoins and AI, said Stripe cofounder John Collison.
This industry-wide collaboration is in direct response to the UK Government’s call for industry partners to play a role in supporting the effective and timely delivery of cVRPs. Greg Cox, CEO at Acquired.com , said: “We are delighted to support this industry-owned initiative to create a central operator for cVRPs.
The government’s aim with this initiative is to invigorate Thailand’s economy, the second-largest in Southeast Asia, targeting a growth rate of at least 5% annually. Under this scheme, around 50 million Thai citizens will each receive 10,000 baht (about US$285) to spend within their local communities.
The signing was witnessed by the prime ministers of both countries and their respective government delegations, highlighting stronger collaboration in digital and technological development between the two nations.
Designed to serve the needs of micro and small businesses (SMEs) and freelancers, Yuze offers financial solutions that look to support local businesses and fuel growth in Indias economy. “Indias vibrant entrepreneurial landscape and rapidly advancing digital economy make it an ideal market for Yuze, explained Rabih Sfeir , CEO of Yuze.
Their substantial investment will not only help create tech-savvy jobs but underscores their confidence in the UK economy. This government is laser-focused on supporting business growth and expansion. The UK’s open economy, mature consumer market, and world-class talent makes it the perfect place for the next phase of Affirm’s journey.
Senegal is one of many countries across the Middle East and Africa trying to diversify its economy and future-proof itself by hosting financial inclusion by employing fintech solutions. Historically, Senegals economy has centred around agriculture, particularly peanuts. Mobile phone usage in Senegal has surpassed 60 per cent this year.
Businesses and consumers will benefit from new growth-focused Strategic Steer set for the Competition and Markets Authority (CMA), in the latest step of the governments agenda to reform regulation to drive growth as part of the plan for change. The Government wants to see the same level of ambition from other regulators.
Financial inclusion is not just about facilitating transactions; it is about providing the infrastructure, rules, and governance that enable individuals and businessesespecially women and underserved communitiesto participate fully in the digital economy.
Gabriel Swanepoel , country manager at Mastercard Southern Africa Gabriel Swanepoel , country manager at Mastercard Southern Africa, commented: “Our collaboration with Paymentology continues to evolve, driven by a shared vision of fostering an accessible digital economy.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content