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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

The Somalia Payment Switch (SPS1) has successfully launched the country’s first ever Instant Payment System with QR payments support powered by BPC’s next generation SmartVista platform, a global leader in payment solutions2.

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AfricaNenda Launches 2024 Annual Report: Advancing Inclusive Instant Payment Systems for Broader Financial Inclusion in Africa

Fintech Finance

AfricaNenda Foundation has released its 2024 Annual Report, marking a significant year of transformation and impact in its mission to accelerate access to inclusive instant payment systems (IIPS) across Africa.

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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

The Somalia Payment Switch (SPS1) has successfully launched the country’s first ever Instant Payment System with QR payments support powered by BPC’s next generation SmartVista platform, a global leader in payment solutions2.

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Mashreq Becomes the First Bank in the UAE to Offer Aani Instant Payments for SMEs via Mashreq Biz App

Fintech Finance

Mashreq , one of the leading financial institutions in the MENA region, has announced the launch of Aani Instant Payments, a new solution enabling SME businesses to collect payments from their customers instantly, securely, and seamlessly with no IBAN required.

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Cross-Border Payments in Numbers: Global Corporations Lost $120 Billion in Transaction Fees

Fintech Finance

The current cross-border payment system imposes high costs on businesses and economies worldwide, stifling economic potential and limiting financial inclusivity. Challenges to financial inclusivity Cross-border payment challenges disproportionately affect low-income individuals and small businesses in developing regions.

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The Journey of Payments and Clearing Systems in India

Finextra

Post-Independence (1947 - 1990s): Building the Foundation After independence, India focused on strengthening its financial infrastructure and extending banking services. Nationalization of Banks (1969, 1980): A major policy shift aimed at increasing financial inclusion and directing credit to priority sectors.

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The Next Step For Pix: PagBrasil Receives Payment Institution Licence From Central Bank of Brazil

The Fintech Times

During its wait for the licence, PagBrasil introduced International Pix, which allows Brazilians to make Pix payments abroad, and Pix Roaming, which enables foreigners to use Pix while in Brazil to the Brazilian payments scene to enable tourists visiting Brazil and Brazilians travelling abroad to make payments using Pix Instant Payment.