Fintech

The Australian Government has passed the Digital ID Bill 2024 and Digital ID (Transitional and Consequential Provisions) Bill 2024. The legislation will establish an economy-wide Digital ID system and allow for financial organisations and providers to apply and join the Government’s Digital ID platform. The benefits of this system will be a stronger and more […]

Spain’s Iberpay and Santander have signed up as the first participants in the European Payment Council’s new OCT Inst scheme for faster international account-to-account payments. The OCT Inst (One-Leg Out (OLO) Instant Credit Transfer) scheme promises to bring the benefits of Sepa to international payments. OCT Inst is a cross-currency payment scheme to support the […]

As consumers look for simpler and more intuitive eCommerce experiences, Harvest Hosts sees providing more payment options as key to meeting shoppers’ demand to be able to control how they manage their spending. In an interview with PYMNTS, Neel Mehta, head of product for the company, which provides RV camping memberships, spoke to how the […]

Insurance unicorn Wefox has warned investors that it may soon face insolvency due to financial losses and regulatory charges. CEO Mark Hartigan sent a memo to shareholders in early May, stating that the business could become insolvent in August this year or earlier, according to Sky News. Hartigan wrote in the memo: “The opportunity to […]

Leading European bank BNP Paribas has signed a pan-European partnership with B2B payments provider Billie, the BNPL specialists for business payments European bank and sustainability leader BNP Paribas has partnered with Billie – the B2B payments provider delivering Buy Now, Pay Later (BNPL) services to businesses – marking the start of a pan-European partnership. Per the deal, […]

Payments infrastructure provider BVNK has integrated PayPal USD into its payments platform, boosting the mainstream adoption of stablecoins Payments infrastructure provider BVNK, a Top 10 fintech startup, has integrated the US dollar-pegged stablecoin PayPal USD (PYUSD) into its payments platform, in a move it hopes will mark a significant forward step for the mainstream adoption […]

The rise of digital wallets, or e-wallets, is undeniable. Whether it’s paying for groceries with Apple Pay by tapping your phone to a screen or paying the babysitter with a peer-to-peer (P2P) app like Venmo, cashless, cardless transactions are everywhere. According to McKinsey, digital wallet penetration has reached at least 89%; one Forbes study suggests that a […]

In the dynamic landscape of consumer engagement, the expectations placed upon companies are in a state of perpetual flux. Two discernible trends that have crystalized in recent years are consumers’ increasing desire for offerings that align with their beliefs and way of life, as well as their fervent demand for hyper-personalization, shifting decisively away from […]

The European Central Bank (ECB) voiced apprehensions about the centralization of artificial intelligence services within the EU’s financial systems. The bank’s caution underscores global concerns regarding the dearth of AI regulation and the potential damage the tech could inflict on financial institutions. In an article accompanying its latest Financial Stability Review, the ECB noted AI concentration could […]

Institutional investors are going to play a bigger role in the cryptocurrency trading market, Bakkt said Wednesday (May 15) when announcing its latest quarterly results. Bakkt, which provides custody, trading and onramp capabilities for the crypto economy, said in a presentation released Wednesday that this increase in the mainstream adoption of crypto was sparked by […]