Fintech

Residents will have the option beginning in mid-2025 to make the payments with the digital currency through a secure platform managed by PayPal. City leaders hope the move will help attract and retain tech startups in the Motor City. “Detroit is building a technology-friendly environment that empowers residents and entrepreneurs,” said Mayor Mike Duggan. “We […]

Digital payments company Block plans to add its Afterpay buy now, pay later financing option to its 24 million Cash App debit cards, Block Chief Financial Officer Amrita Ahuja said during an earnings webcast with analysts Thursday. The company didn’t specify when that will happen. Block, which is the parent company for Cash App, Afterpay […]

Global asset manager and Swiss bank UBS has developed and successfully piloted a blockchain-based payment solution, aiming to increase efficiency and transparency, as well as enable the programmability of money movements for corporate and institutional clients. The solution, dubbed UBS Digital Cash, aims to increase the transparency and security of cross-border payments with blockchain-based payments. Cross-border payments often […]

Artificial intelligence (AI) is quickly becoming an essential tool in the banking industry, as the demand for personalisation is spiking. Revealing how impactful AI can really be in meeting this demand, CleverTap, the all-in-one engagement platform explored the tech’s use in the global banking landscape. In its research, titled Banking on AI: A Leader’s Guide to Customer Engagement […]

Money movement firm TerraPay is aiming to enhance financial accessibility in Lebanon through a new partnership with Suyool, a licensed financial ecosystem regulated by Banque du Liban. Through the new partnership, TerraPay and Suyool are aiming to address the growing demand for fast, secure, and convenient remittance services in Lebanon. Lebanon remains heavily reliant on remittances, with over $6.5billion […]

Between 2017 and 2022, Navy Federal has been illegally collecting $20 from consumers for overdraft transactions through its Optional Overdraft Protection Service (OOPS). The credit union would charge surprise fees to users even when they had enough funds to cover the transaction, if the account had a negative balance once the purchase was posted. Navy […]

Boerse Stuttgart Digital, the European infrastructure provider for crypto and digital assets, has forged a new partnership with Fenergo, the AI-powered KYC, client lifecycle management, and transaction monitoring solution provider. Through this partnership, Boerse Stuttgart Digital is aiming to embrace the continuing growth of Europe’s crypto market by enhancing the scalability of its infrastructure solutions, while […]

UK bank NatWest is partnering with Capco, the management and technology consultancy, as part of efforts to ensure a smooth transition for its systems and clients as the financial industry moves to adopt ISO 20022 for payments and reporting. Through its collaboration with Capco, NatWest is transitioning to Bankline Direct Digital, the strategic ISO 20022-compliant cloud-based architecture behind Bankline […]

UK bank NatWest has partnered with payments giant Mastercard to launch a new mobile virtual card payment solution for business, Approval2Buy with Mobile Virtual Cards.  Becoming the first service in Europe to leverage the Mastercard mobile virtual card app, NatWest plans to enable companies to provide virtual cards to their employees for use worldwide. With the new solution, it […]

MEX Global, a subsidiary of MultiBank Group, the global financial derivatives institution headquartered in Dubai, has launched cash payment services to enable UAE-based clients to easily deposit and withdraw funds. Through a partnership with Al Ansari Exchange, a personal remittance and foreign exchange company in the UAE, MEX Global is enabling its clients to deposit […]