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Revolut Posts US$1 Billion Profit for 2024, Singapore Marks Profitability Milestone

Fintech News

Revenue from wealth services rose nearly 300% to US$647 million, while card payments and foreign exchange brought in US$887 million and US$540 million respectively. These features supported growing demand for daily use cases such as payments, remittances, investing, and financial literacy. billion (S$5.28

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Cross-Border QR Payments Now Live Between Vietnam and Laos

Fintech News

Vietnam and Laos have officially launched a new framework for settling payments in their local currencies and a cross-border QR code payment system. In addition, the launch of a cross-border QR code payment system will enable consumers and visitors to make quick and secure payments for goods and services using their mobile phones.

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XTransfer Gets Green Light for Singapore Payment License

Fintech News

Cross-border payment firm XTransfer has received the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). The company, founded in 2017, specialises in cross-border payment solutions tailored to small and medium-sized enterprises (SMEs). said Bill Deng, Founder and CEO of XTransfer.

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India in Talks to Forge New Cross-Border Payment Linkages, Says RBI

Fintech News

India is advancing efforts to establish cross-border payment linkages with multiple countries, as reported by Bloomberg, citing an official from the Reserve Bank of India (RBI). Shaktikanta Das RBI Governor Shaktikanta Das has expressed India’s readiness to assist other nations in developing standards for cross-border payments using CBDCs.

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dtcpay Announces Shift to Stablecoin-Only Payment Services by 2025

Fintech News

Digital payment token provider dtcpay has announced a strategic shift to exclusively support stablecoins for all its payment services starting in January 2025. By focusing on stablecoins, dtcpay aims to provide a more secure, predictable, and regulatory-compliant payment solution for businesses and consumers.

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Mastercard Simplifies Bill Payments with Bill Qkr

Fintech News

Payments giant Mastercard has introduced Bill Qkr , a digital solution aimed at simplifying recurring and one-time bill payments for consumers and businesses. Bill Qkr’s launch partners are incorporating the technology to provide smoother payment options in their regions. Mastercard Bill Qkr is now live and available globally.

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Vietnam and Cambodia Launch Cross-Border QR Payment Linkage

Fintech News

The State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) announced the successful implementation of a cross-border QR payment system between the two countries. This initiative allows Vietnamese and Cambodian visitors to use their domestic currencies, VND and KHR, for payments at various merchants in each other’s country.