Fintech

Central bank digital currencies (CBDCs) have a lot of potential to uproot the cross-border payments market. The latest move by the National Bank of Ras Al Khaimah (RAKBANK) highlights this. RAKBANK has successfully exchanged a remittance using China’s digital Yuan (eCNY) in exchange for the Digital Dirham, the UAE’s CBDC. The cross-border payment was completed […]

UAE digital asset users will be able to take advantage of international cross-border bank, Standard Chartered‘s digital asset custody service as it lands in the country. The service has been given the green light to operate in the Dubai International Financial Centre (DIFC) by the regulator, Dubai Financial Services Authority (DFSA). The announcement follows the memorandum of understanding (MoU) which was signed […]

MoneyLion has teamed up with Nova Credit to integrate cash flow underwriting into its decisioning engine, enabling credit issuers on its platform to access more comprehensive data for evaluating consumers’ financial health. Nova Credit’s Cash Atlas™ platform will provide cash flow analytics to help lenders on MoneyLion’s platform assess credit risk by using consumer-permissioned bank […]

Wise Platform, the global payments infrastructure developed by Wise, has partnered with AbbeyCross to enhance the efficiency and transparency of international foreign exchange (FX) payments. AbbeyCross connects banks and money service businesses (MSBs) with multiple FX providers through a single platform, addressing the fragmentation and inefficiencies in cross-border payments. With Wise Platform joining the ABX Platform, users gain access […]

Payment flexibility is something paytechs must strive to achieve as consumers’ demands are constantly evolving. While some users are keen on digital payments, others want to continue using a card. To make a variety of payment options more accessible to the latter, Enfuce, the payment processor, has expanded its E2 card to the UK and […]

Visa (V.N), opens new tab plans to increase the number of businesses accepting digital payments in Pakistan tenfold over the next three years, the payments giant’s general manager for Pakistan, North Africa and Levant told Reuters. The comments from Leila Serhan came as Visa announced a strategic partnership with 1Link, Pakistan’s largest payment service provider, […]

Digital payments have become the backbone of the global economy, enabling quick and convenient transactions for businesses and consumers. However, the rise of digital payments has also led to an increase in fraud. With cybercriminals becoming more sophisticated, fraud prevention has never been more crucial. To stay ahead of these threats, businesses need to implement […]

Airline payments powerhouse UATP says it will offer buy now, pay later services from Klarna AB. Meanwhile, CellPoint Digital has signed Arajet, a Dominican Republic startup airline as a payments-processing client. UATP, a Washington, D.C.-based global payments network, says its new partnership with Klarna will enable airlines to offer Klarna’s BNPL payment option to customers. […]

The International Air Transport Association (IATA) and travel payment solution provider, Outpayce, are partnering to enable airlines across the globe to accept account-to-account payments. That’s why IATA and Outpayce are partnering so airlines can now accept payments made with IATA Pay through Outpayce’s Xchange Payments Platform (XPP). The news comes as airlines worldwide continue to […]

The Saudi Central Bank (SAMA) is working on strengthening the Saudi Arabian fintech ecosystem, and in doing so, has recognised the potential of open banking. As a result, SAMA has announced the issuance of the second release under the open banking framework, focused on the payment initiation service (PIS). The new release has been issued […]