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How to Choose Between EFT vs ACH: A Comprehensive Guide

Stax

Digital wallets, peer-to-peer (P2P) payments, and debit card payments are great for quick, everyday customer transactions. Payments can also be made to local vendors via electronic bank transfers, or fund global transactions with wire transfers. Another EFT type that businesses rely on is ACH.

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Kuwait’s Real-Time Payment Scheme WAMD Surpasses 1 Million Accounts in First Year

Fintech Finance

ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, and KNET , Kuwait’s national electronic banking company, today announced that WAMD, Kuwait’s real-time payment system, recorded significant growth in the number of transactions processed since its launch in June of 2024, making WAMD one of the world’s (..)

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Coinbase to launch crypto credit card on Amex Network

The Paypers

The card, issued by First Electronic Bank and offered in partnership with fintech firm Cardless, will provide users with Bitcoin rewards of up to 4% on purchases. Access to the card will be limited to Coinbase One members based in the United States.

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National Bank of Kuwait Rolls Out SWIFT gpi; UCPB Launches InstaPay Transfer Service

PYMNTS

Coverage includes The National Bank of Kuwait ’s rollout of SWIFT Global Payments Innovation (gpi) services with the help of ACI Worldwide. In addition, UCPB launched its InstaPay service in The Phillipines, and NoBroker has brought rent payments into its app in India.

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Citi Payment Insights Expands To 70 Markets

PYMNTS

Launched in July, Citi Payment Insights provides real-time payments visibility, including processing status and timelines, charges deducted across correspondent banks, the amount credited to the beneficiary and the ability to action payments on demand via its electronic banking platform.

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In Hungary, Instant Payments Gain Traction

PYMNTS

The transfers will be done through UCPB Connect, the electronic banking service. In a statement, UCPB Vice President and Head of Marketing Group Charina Balanquit said, “The fund transfer service is geared more for retail payments, such as domestic remittances, payments to service providers, eCommerce and peer-to-peer payments.”.

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Collaboration Is Key For Consensus On Cross-Border Payments

PYMNTS

According to the Real-Time Payments Innovation Playbook , 26 percent of cross-border businesses rely on international wire transfers, while the next most common method is by paper check (20 percent). Electronic bank transfers (16 percent) and regular ACH (11 percent) are also popular.