Fintech

According to data from the British Retail Consortium (BRC) cash was used for almost one in five purchases at 19.9% of transactions in 2023, up from 18.8% in 2022. Debit cards remained far and away the most common method of payment, increasing to 62.0% of transactions (66.7% by spending). Taken together with credit cards, card […]

Digital financial platform, Ribbon, is gearing up for its next big move to help non-resident Indian diaspora in the UK, as it announces its partnership with Tribe Payments, the digital payments and infrastructure orchestrator that specialises in issuer and acquirer processing.  Ribbon is a carbon-neutral digital financial services super-app that was founded in Gibraltar in March 2020 by Ashesh Jani and Suchit Punnose. The multi-purpose […]

Of 2,000 UK adults examined by Tunic Pay, the anti-fraud fintech firm, and Opinium, the market research consultancy, only one in five (21 per cent) said social media platforms were doing enough to tackle payment scams. Firms like TikTok, Facebook, X and Instagram all came under fire in the Tunic Pay survey as it set […]

It has been a busy week for UAE-based Islamic financial institution, Emirates Islamic as it celebrated the 53rd UAE Eid Al Etihad and announced a new agreement with longstanding partner Visa. On 2 December, Emirates Islamic took part in the 53rd UAE Eid Al Etihad celebrations with a vibrant display of traditional Emarati culture at its headquarters in Dubai Healthcare City […]

Over 60,000 small and medium enterprises (SMEs) in the UK will benefit from a new banking and payments offering following a new partnership between banking group, Lloyds and paytech, PayPoint Group. Merchants can now utilise Lloyds’ services will to further improve how they interact with the PayPoint and Handepay network of merchants. Having been a part of the PayPoint Group since 2021, the […]

The Hashgraph Association, a Swiss-based venture capital, and technology company, has committed $1.5million to the Global Center for Sustainable Digital Finance as a founding member, aiming to drive and fund research at the intersection between sustainability and digital finance. The Global Center for Sustainable Digital Finance focuses on developing and accelerating research in sustainable digital […]

The Federal Deposit Insurance Corporation has started to more closely track financial technology companies that partner with banks across the U.S., Bloomberg News reported on Wednesday. An internal database will help FDIC examiners track third parties that work with banks, and anticipate potential vulnerabilities before they become a problem, the report added, citing people familiar […]

The European Central Bank (ECB) has published its second progress report on the digital euro’s preparation phase, which was launched on 1 November 2023, and is setting the groundwork for the potential issuance of a digital euro. The digital euro project is a European initiative designed to benefit millions of citizens across the euro area. […]

Digital wallets have become a key tool for German consumers, especially for online shopping and banking. Consider that 71% of consumers in Germany used a digital wallet in some way in the past year. A PYMNTS Intelligence report, “Digital Wallets Beyond Financial Transactions: Germany Edition,” in collaboration with Google Wallet, reveals insights into how Germans are using digital wallets […]

Visa, a global leader in digital payments, hosted its first Open Payments Session in the Kingdom, bringing together regulators, subject matter experts, merchants, and financial services representatives to explore best practices and thought leadership shaping the future of payments. The forum focused on the evolving landscape of digital payments, driven by increased smartphone penetration and […]