Fintech

First came CoDi, or “Cobro Digital” (Digital Collection). But it didn’t take off. The system, launched by the Bank of Mexico to accelerate instant payments in the country, was pioneering even before Pix came online in Brazil a year later. But it did not succeed, and today, most Mexicans are unaware of what it entails. […]

India-based Paytm’s share of the country’s Unified Payments Interface (UPI) continues to slip. The FinTech made up 8.1% of total UPI transactions last month, down from 13% in January, the National Payments Corporation of India said in data released Thursday (June 6). Paytm accounted for 1.1 billion customer-initiated transactions on the network. That put the […]

According to a new US Faster Payments Council (FPC) report, more work is needed to ensure most faster payments products are financially inclusive. The FPC’s report on faster payments and financial inclusion identifies the features required to bolster financial inclusion with faster payments. 88 respondents across a range of financial institutions including banks, credit unions, […]

The prevailing sentiment among consumers, particularly in younger generations, is access is more important than ownership. The subscription-centric sales process turns the traditional sales model on its head, and merchants wishing to take advantage of the recurring payments paradigm must pivot to take advantage. How Recurring Payments Through Subscriptions Drive Business Growth, a new report […]

The Consumer Financial Protection Bureau took a key step toward enabling open banking in the U.S. by outlining guidelines for a standard-setting body. Open banking requires customers to share their bank and credit card account data with third-party financial technology companies, such as application programming interfaces. Defining and protecting consumers’ data rights is a critical part […]

There’s no escaping the fact that we’re living in a time of environmental and social tension. Unless people take action to make meaningful changes now, there are likely to be consequences for generations to come. In recent years, the payments industry has started to take this responsibility particularly seriously. Driving a positive environmental and social […]

Opening the final day of Money 20/20 Europe was a session exploring whether treasury management is broken. Melissa Donohoe, VP, Notion Capital moderated the panel with speakers Pac O’Shea, CEO and co-founder, Round Treasury and Seth Phillips, founder and CEO, Bound. Regarding why they moved into this space, O’Shea said: “We started a couple of […]

Markus Braun, the disgraced ex-boss of Wirecard, has been forced to rely on state provided legal support after his former lawyer quit because of lack of funds. Braun, who is charged with fraud, breach of trust, account rigging and market manipulation relating to the collapse of Wirecard, has been in custody since July 2020. To […]

Mastercard has launched ‘Mastercard for Fintechs’, a dedicated programme for startups in Western Europe, offering access to technology support and educational tools alongside a series of fintech events with the opportunity to compete for the chance to win €50,000. Mastercard says the programme has been designed in response to the challenging fundraising environment that fintechs […]

The Bank for International Settlements says it multi-central bank CBDC platform, Project mBrige, is ready to accept value added products and new use cases as it reaches minimum viable product stage (MVP). The project aims to explore a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks, built on distributed […]