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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

While Somalia’s financial sector has seen remarkable growth in recent years, a significant portion of the population remains underserved or unbanked. The demand for secure, fast, and modern payment solutions has been pressing.

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

Fintech Finance

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.

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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

While Somalia’s financial sector has seen remarkable growth in recent years, a significant portion of the population remains underserved or unbanked. The demand for secure, fast, and modern payment solutions has been pressing.

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Circle Goes Live with the Circle Payments Network

Finovate

Circle’s initial focus with CPN is on high-value, underserved global trade corridors. “The launch of CPN represents a leap forward for global payments infrastructure toward an architecture where interoperability, compliance, speed, and cost-efficiency are emphasized,” said Circle VP of Product Management Sunil Sharma.

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5 Things to Know About SGQR+, Singapore’s Unified Payments QR

Fintech News

Building upon SGQR, SGQR+ represents the next generation of interoperable payments for merchants., designed to align with the country’s vision of a seamless, accessible, and interoperable payments ecosystem. Here are five interesting takeaways gathered from the interoperable SGQR+ trials.

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New Era for Payments in Somalia: Somalia Payment Switch Launches Instant Payment System

The Fintech Times

Meeting both local and international regulatory standards, the platform integrates various components, including an Integration Platform for seamless connectivity, a Participant Portal for real-time transaction monitoring, and a Dispute Portal for efficient case resolution.

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The Rise of Decentralised Finance (DeFi) Platforms in Emerging Markets

Fintech Review

As a result, DeFi is gaining traction rapidly due to its ability to provide financial services to those who have been historically underserved by conventional banking systems. Interoperability with traditional financial systems presents another significant hurdle.

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