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The fintech unicorns in Asia are moving to reshape the very fabric of how people and businesses interact with money. Out of the unicorns worldwide valued at a combined $4 trillion , a rising share are coming out of Asias fast-moving fintech ecosystem. These include two decacorns from India and China, each valued at over $10 billion.
In keeping with its constant dedication to providing cutting-edge services to its customers, National Bank of Kuwait (NBK) announced introducing a new service that allows customers to confirm payment transactions online through the NBK MobileBanking App, making itself as the first provider of this service in Kuwait.
While online payments have taken off, many consumers still favour credit cards or cash for offline purchases. While online payments have taken off, many consumers still favour credit cards or cash for offline purchases. Digital wallets are especially popular for online shopping, paying bills, and mobile transactions.
As digital wallets reshape finance and big tech challenges traditional banks, who will control the future of money? X (formerly Twitter) has made its first decisive step into fintech, announcing a partnership with Visa to power its ambitious new digital wallet, X Wallet. Digital wallets are on an unstoppable trajectory.
We examine both quantitative gains— such as higher customer satisfaction scores, rising self-service usage and digital adoption rates—and qualitative developments, including more personalized services, smarter virtual assistants and greater accessibility in digital banking. IDC estimates the banking industry will invest about $31.3
Despite a clear funding slowdown across global markets , Indias fintech sector continues to command significant capital, ranking as the third-highest funded fintech ecosystem globally after the United States and the United Kingdom. These frontrunners reflect both the maturity and evolving priorities of Indias digital finance landscape.
This incident disrupted operations across airlines, banks, and media outlets, resulting in billions in losses for major corporations. The Bank of England has emphasised the need for payment firms to enhance their operational resilience, mandating improvements by March 2025 to better handle disruptions like cyber-attacks or system failures.
The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Thursday 26 June 2025. Appointments Open bankingfintech Yaspa has named Chris Lowe as chief financial officer. Bitget Wallet has appointed Jamie Elkaleh as chief marketing officer.
myTU , a fully automated, AI-native, and cloud-first digital bank, announced today the launch of Google Pay for its customers. This new feature enables both individuals and businesses to add their debit cards to Google Wallet, making payments more convenient and secure.
Social media, online commerce, mobile text messaging and other digital platforms have allowed scammers to innovate in targeting consumers. Skip to main content CONTINUE TO SITE ➞ Dont miss tomorrows Payments industry news Let Payments Dives free newsletter keep you informed, straight from your inbox. You can unsubscribe at anytime.
Epos Now , a leading global AI-driven point-of-sale (POS) provider, today announces a strategic partnership with Lloyds Cardnet , one of the UK’s biggest card payment service providers. This marks a significant milestone for both companies as they work together to support entrepreneurship and business success across the UK and beyond.
This shift is especially visible in the adoption of network tokenisationa model introduced by major card networks like Visa and Mastercard, where card details are replaced with dynamic, network-managed tokens. The necessity of tokenisation in digital payments The traditional view of tokenisation as a fraud mitigation tool is outdated.
Are digital first banks in Asia poised to lead a disruptive charge against well-entrenched, established commercial banks? In the traditional banking sphere globally, but especially true in Asia, there is a considerable proportion of unbanked and underbanked populations who lack complete or any access to banking services.
At the centre of this threat is Grey Nickel , a sophisticated cybercriminal group using deepfakes, synthetic identities, and AI-powered attack tools to breach banks, crypto exchanges, and digital payment platforms. “These aren’t opportunistic attacks—they’re existential threats to digital banking,” he continued.
The pandemic is reshaping banking. The conversation came against a backdrop where, as noted in a recent PYMNTS Tracker , a majority of Americans did their bankingonline last year. As more banking has shifted online, an increasing amount of that online activity is occurring across mobile conduits.
Migration to mobile and digital banking ramped up during the pandemic. It’s one of numerous revelations in PYMNTS’ Leveraging The Digital Banking Shift Report , a collaboration with Feedzai , based on a survey of nearly 2,200 U.S. percent of onlinebanking customers using digital channels more. “Our This we know.
It’s a tale of a cultural shift, governments and innovators working in tandem, and millions leapfrogging traditional banking to embrace a mobile-first approach to finance. It results from a unique convergence of factors that have created the perfect storm for fintech innovation.
Necessity being the mother of invention, consumers rapidly reset their lives around digital across the board — from working to shopping to learning to managing their financial lives online. Kikkeri said this is the highest penetration that mobilebanking has ever seen among consumers. Getting Ready To Fight Off Apple And Google.
Community banks and credit unions are feeling the pressure to boost their digital card services or risk losing customers to megabanks and digital challengers, Ondot Systems ’ Chief Strategy Officer Todd Lesher told PYMNTS in a recent discussion. FinTech players are also grabbing deposits. Square announced $1.3
MeaWallet , a leading digital payments enabler specialising in card tokenization, proudly announces its partnership with Toqio , a leading technology platform for B2B embedded finance for businesses, to enhance its digital card capabilities for corporate customers in the UK and Spain.
Consumers will benefit from earning rewards for transactions via Crypto.com’s Crypto.com Pay ; merchants will benefit from being able to manage payments and services via both mobile and tablet devices. Also this week, Crypto.com announced that it would expand its offering to include banking services, credit cards, and stock trading.
That left FIs scrambling to “rapidly figure out how to get that same emotional and engagement outcome when the possibility of face-to-face is virtually nonexistent,” Randy Piatt , head of product solutions at card technology firm Ondot Systems , told PYMNTS in a recent conversation. Simple: Start with the cards.
Community Your feed Latest expert opinions Groups Join the Community 23,315 Expert opinions 42,505 Total members 368 New members (last 30 days) 195 New opinions (last 30 days) 29,090 Total comments Join Sign in Open Banking Won’t Work Without Trust. Here’s How We Enable That. Here’s How We Enable That. Here’s How We Enable That.
It’s a time of reflection and anticipation at The Fintech Times throughout December, as we look back at developments and trends over the last 12 months and forward to the year ahead. This is making it easier and more convenient for people to send money to friends and family domestically and internationally.
One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. How the products work.
As the world becomes increasingly digitized and more consumers embrace the speed and convenience of contactless purchases, Jim McCarthy , president of payment technology and innovation firm i2c , said banks have been left behind and should focus on what they do best — compliance. He said banks would be wise to accept that reality.
Payguru is a Turkish company currently working to give residents a way to pay for bus travel cards via text message, according to a report by Financial Times (FT). The way it works, since the company began testing it in the city of Kahramanmaras in 2018, is that users can send a text message and refill their cards via mobile phone.
The country’s banking system is giving an upgrade to its instant payments system. Kavakama points to the fact that the country’s central bank has mandated that first-tier banks connect to PIX. Kavakama points to the fact that the country’s central bank has mandated that first-tier banks connect to PIX.
As businesses and consumers become more comfortable using credit cardsonline, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Stripe really did come about because we were really appalled by how hard it was to charge for things online.” — John Collison.
Indigenous Banking (Shroffs and Mahajans): Long before modern banks, India had a thriving indigenous banking system. These banks introduced formal ledger-based accounting and cheque payments. This expanded the reach of formal banking to rural areas. This introduced standardization and divisibility.
As a proliferation of payment options promises to streamline banking and commerce, regulators, fintechs, and financial services companies are looking for ways to make sure that the challenges to these new payment optionsfrom technical complexity to new forms of fraud and financial crimeare met. And thats a really positive development.
Dubai First , the consumer services platform under First Abu Dhabi Bank (FAB), has become the first issuer in the region to leverage Mastercard Token Connect to push customers’ tokenized card details from its mobile app to Click to Pay and digital wallets.
The great digital shift is transforming credit cards into money management tools. Consumers want cards, and they want them quickly, and they want those cards [delivered] in a digital way," said Turner. The company said that through the expansion of its Digital-First Card Program, which was announced last Wednesday (Sept.
The Fintech industry is constantly evolving with innovations and technologies coming up often. Though many concepts are built on fundamental fintech ideas, the terms and jargon related to fintech are rapidly diversifying. without requiring a traditional bank account or debit card.
For SMBs, what’s in the cards … are more card readers. To that end, the banking giant J.P. Morgan seems to be banking on speed as a selling point to gain traction with smaller firms. Chase has also said that its new SMB offering will enable firms to take card payments within minutes. and, by extension, the U.S.
After years of pushing to a fully digital payments landscape that will in theory see a cashless economy in the (reasonably) near future, it could all come tumbling down after a series of technical issues that has seen major retailers unable to process card or contactless payments and once again relying on notes and coins.
Open banking has been picking up steam in Latin America for more than two years. Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. Open Banking And Digital Readiness. the region. the region.
Bank is trying to adapt to the pandemic holidays with new eCards meant to spread cheer through contactless cash gifting, according to a press release. The eCards can be sent alongside payments made as gifts via Zelle in the bank'smobile app. The release says the cards are “animated, dynamic and can include a message.”.
trillion in total assets, JPMorgan Chase is the largest bank in the US. Its retail bank, Chase, spans 61 million American households. Led by Chairman and CEO Jamie Dimon, the bank is undergoing a transformation, moving away from offline legacy systems and into the digital age. Live briefing: Consumer Banks in The Digital Age.
That promises to be the case going forward with Open Banking, as financial institutions (FIs) pick partners and proof of concepts. Open Banking is a global effort that resets the relationships FIs have with FinTech firms, payment providers and financial service providers. Open Banking Promise. Role Of APIs.
ICBA Bancard, the payments services subsidiary of the Independent Community Bankers of America (ICBA), announced a new partnership with MK Decision (MK) for its online loan-origination system. Our mission — to stimulate local borrowing and local lending — is well aligned with ICBA Bancard and its community bank clients.
The ongoing pandemic has pushed more consumers online to carry out their shopping and banking, with fraudsters following suit. Fraudsters are out there moving pretty quick, and so banks have to be out there moving quick with them.”. As more people move to digital, so do some of these [fraudsters],” he said. “We
The COVID-19 pandemic has bolstered mobile payments in India and primed them to overtake card payments in the not-too-distant, S&P Global Market Intelligence said this week in its 2020 India Mobile Payments Market Report. But S&P found that there’s an awful lot of ground left for mobile payments to capture.
In this 2024 report, we’ll explore how payment methods have evolved in the Canadian market, focusing particularly on the shift towards digital, contactless payments , and mobile along with other 2024 trends. Digital banks, sometimes called Neobanks, push consumers into digital banking and digital payments.
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