article thumbnail

PAPSSCARD: New Pan-African Card Scheme Launches With Plans to Reclaim Africa’s Financial Autonomy

The Fintech Times

. “For too long, Africa’s reliance on external payment systems has impeded trade, increased costs, and compromised control over our financial data,” said Benedict Oramah , president and chairman of the board of directors at Afreximbank. “PAPSSCARD changes that.

article thumbnail

Tokenized Deposits vs. Stablecoins: What’s the Difference and Why It Matters

Finovate

Another key differentiating factor between the two blockchain-based payment tools is that they have opposite effects on liquidity. By enabling real-time, programmable payments on blockchain networks, they help move the financial system away from slow, batch-based legacy systems like ACH or SWIFT.

article thumbnail

Ripple CEO Steps Aside

PYMNTS

Larsen also spearheaded the R3 consortium, which sees dozens of financial institutions around the globe using Ripple’s blockchain technology to develop payments tools. Last September, Ripple publicly questioned the effectiveness of the Global Payments Innovation initiative of payments technology firm SWIFT.

SWIFT 75
article thumbnail

Virtual Cards Streamline, Simplify B2B Healthcare Payments

PYMNTS

How Virtual Card Help Healthcare Claims Processors Manage Payments. Digital payment tools can be critical to helping healthcare claim processors manage their often-changing transaction flows. Businesses also have been demonstrating an interest in using artificial intelligence (AI)-powered to help them automate their AP.

B2B 107
article thumbnail

Blockchain Makes Headway Over Legacy X-Border Rails

PYMNTS

With its newest offering designed for legal cannabis businesses , AeroPay ‘s B2C and B2B payment tools aim to help companies in this market migrate away from manual and paper-based payment methods. SWIFT Certifies Fiorano ISO 20022. ” AeroPay Elevates The Bank Transfer.

article thumbnail

The Instant Payments Divide: How Lenders Can Use Disbursements To Create Lasting Trust

PYMNTS

Payors surveyed stated that they made only 45 percent of all their disbursements via non-instant payment methods, in fact. The share of customers who want or expect swift payments everywhere is growing, prompting banks and lenders to. adopt digital disbursement tools.

article thumbnail

Mastercard to Offer Real Time Cross-Border Payments for Commercial Clients

Finovate

Mastercard launched Move Commercial Payments , a real-time cross-border payments solution that operates 24/7. The new commercial payments tool leverages a multi-rail system that includes SWIFT, Visa Direct, and Mastercard’s proprietary networks.