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MAS and ABS Announce the Incorporation of New Payments Entity – Singapore Payments Network (SPaN)

Fintech Finance

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) today jointly announced the incorporation of Singapore Payments Network (SPaN), which will administer and govern Singapore’s national payment schemes [1].

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Klarna Signs with J.P. Morgan Payments to Expand Merchant Services Offering

Fintech Finance

Klarna , the AI-powered global payments network and shopping assistant, has signed an agreement with J.P. Morgan Payments that will, for the first time, make Klarnas Buy Now, Pay Later (BNPL) payment options available to businesses that rely on J.P. Morgan Payments for payment processing. Combining J.P.

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Singapore Forms New Entity SPaN to Oversee National Payment Schemes

Fintech News

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have announced the incorporation of a new entity, Singapore Payments Network (SPaN), to oversee the administration and governance of the country’s national payment schemes.

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Payment orchestration: Beyond transaction routing

The Payments Association

Where legacy systems once required separate integrations for each payment gateway, POPs now provide a unified interface that enables businesses to access and manage numerous providers, currencies, and payment methods across regions.

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How are Interchange Fees Calculated?

Stax

Encourage the use of credit and debit cards About 80% of interchange fees go to issuing banks, which incentivizes them to encourage their customers to adopt debit and credit card payments. This is a win-win situation for issuing banks and credit card payment networks.

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Stripe Selects Fifth Third to Power Embedded Financial Services

Fintech Finance

Fifth Third’s commercial payments business currently processes $17 trillion in annual payments volume and serves 25% of the Fortune 100. For decades, the Bank has delivered innovative payment strategies and scalable technology solutions for businesses worldwide, working with some of the earliest e-commerce companies.

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WorldPay Expands LatAm Presence With Colombia Expansion

The Fintech Times

The companys presence in the market will benefit Colombian-based merchants looking to operate internationally with access to Worldpay s extensive global payment network.