Fintech News

DECEMBER 5, 2023

The Bank Indonesia (BI) and Central Bank of the United Arab Emirates (CBUAE) have signed a Memorandum of Understanding (MOU) to enhance collaboration in various central banking sectors, including Islamic finance.

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Fintech News

SEPTEMBER 23, 2024

The BOT will now assess the applicants based on their qualifications, potential, and capacity to operate a virtual bank, in accordance with the Ministry of Finance’s guidelines issued on 4 March 2024. The evaluation will also consider the benefits to the Thai economy and the stability of the financial system.

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PYMNTS

SEPTEMBER 9, 2020

Mastercard has announced a new virtual testing platform for Central Bank Digital Currencies (CBDCs). The testing tool comes as the global economy embraces digital payments and central banks investigate how to support innovation while maintaining financial stability as they issue the currency. In a Wednesday (Sept.

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The Fintech Times

MAY 23, 2024

UAE-based Comera Pay, the fintech arm of Comera Financial Holding, has received preliminary approval from the Central Bank of the UAE to operate under two key financial licences. Leveraging technologies like advanced data encryption, the company aims to power faster digital payments and help advance the UAE’s cashless economy. “We

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The Fintech Times

AUGUST 8, 2024

Ziina , a UAE-based financial platform supporting consumers and entrepreneurs, has secured the Stored Value Facility (SVF) licence from the UAE Central Bank , enabling it to expand its range of financial services. per cent to the non-oil gross domestic product (GDP), their role in the economy is vital. per cent in 2022 to 19.4

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Fintech Finance

JANUARY 16, 2024

Paymob , the leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP) announces that it has received the Central Bank of Oman’s (CBO) Payment Service Provider (PSP) license, making it the first international fintech company to be fully licensed in the Sultanate. million transactions to 252.9

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Fintech Finance

MARCH 5, 2024

Mastercard with Central Bank of Jordan (CBJ) collaborates to develop a payment ecosystem digitization blueprint for the country. The Central Bank of Jordan will benefit from Mastercard’s global expertise to accelerate economic and payments digitization and improve acceptance.

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The Fintech Times

JULY 2, 2024

Aani, operated by Al Etihad Payments , has become a crucial part of the Central Bank of the UAE’s National Payment Systems Strategy (NPSS), which aims to create a digitised, cashless economy in the UAE. Mashreq led the first stage of Aani’s implementation alongside seven other UAE-based financial institutions. .”

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The Fintech Times

SEPTEMBER 16, 2024

Brunei Darussalam, more commonly known as Brunei, has transformed its economy for the better following the discovery of oil and gas in 1929. However, as the world starts to turn away from fossil fuels, the country is starting to diversify its economy: we explore fintech’s role in Brunei’s new economic plan.

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PYMNTS

OCTOBER 15, 2020

As Europe braces for a dreaded second wave of COVID-19, European Central Bank President Christine Lagarde is pledging to ride to the rescue with a major economic stimulus package if it proves necessary, CNBC reported. Overall, more than 251,000 people across Europe have died as a result of COVID-19, with more than 7.4

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The Fintech Times

AUGUST 23, 2024

Following the collapse of Soviet control, Mongolia rapidly transitioned to a free-market economy by 1992, embracing economic reforms that opened the door to global trade and investment. Mongolia is currently classified as a lower-middle-income economy, with a gross domestic product (GDP) per capita exceeding $5,000.

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PYMNTS

OCTOBER 18, 2020

China says it has the COVID-19 pandemic under control and will see its economy boosted by around 2 percent, according to Reuters. Central Bank Governor Yi Gang made the announcement on Sunday (Oct. The Chinese economy remains resilient with great potential. In the second quarter , China’s economy saw a 3.2

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PYMNTS

OCTOBER 1, 2020

The European Central Bank (ECB) has taken what could be a big first step toward launching a digital currency. The central bank’s legal office has filed an application for the trademark with the European Union Intellectual Property Office, which was confirmed by a spokesman for the ECB, the news service reported.

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PYMNTS

DECEMBER 1, 2020

The Central Bank of Iceland (CBI) is debuting a new instant pay platform with partnership with SIA , a European company specializing in high-tech payment services and infrastructures, according to a press release.

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PYMNTS

FEBRUARY 27, 2020

Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said that before they issue their own digital currencies, central banks around the world should attempt to get a better understanding of the pros and cons of the process, according to a report by Reuters. They will also confer with colleagues overseas on the topic.

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PYMNTS

OCTOBER 11, 2019

For central banks, when it comes to cryptocurrencies, there’s no central theme. Some central banks are embracing the concept. The overall theme, reported the site, is to look into how “digital central bank money could be used in the settlement of tokenized assets between market participants.”.

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The Payments Association

DECEMBER 7, 2023

Markets will find out whether central banks have managed to control inflation and normalise interest rates, or whether a replay of the monetary turmoil of the 1970s and 1980s is on the horizon. In Britain, 13 years of Conservative government will come to an end. Read more

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The Fintech Times

JANUARY 16, 2024

The PSP license authorises Paymob to accept and process online and in-store payments in Oman, powered by its local integration with the Central Bank of Oman ‘s (CBO) secure payment infrastructure, OmanNet. The post Paymob Receives PSP Licence in Oman To Accelerate SME Digital Economy appeared first on The Fintech Times.

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PYMNTS

JULY 1, 2019

The Bank for International Settlements ( BIS ) has announced the launch of a BIS Innovation Hub to enable central banks around the world to collaborate on financial technology solutions and innovation. There is a new economy emerging driven by changes in technology, demographics and the environment.

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Fintech Finance

OCTOBER 21, 2024

The Central Bank of Kenya (CBK) announces that the Kenya Electronic Payment and Settlement System (KEPSS) has been successfully migrated to the ISO20022 Global Messaging Standard (“ISO20022 Standard”). CBK has directed banks to inform their customers and provide necessary support to ensure seamless service.

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PYMNTS

JANUARY 21, 2020

And now, for digital currencies, it’s a group effort — among central banks, that is. Up until now, the explorations and considerations of digital currencies — as would be, potentially, issued by central banking systems to bring fiat into digital form — has been done on a country-by-country basis.

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PYMNTS

JANUARY 1, 2020

The People’s Bank of China (PBoC) is planning to pump about $115 billion into the economy by freeing up lenders to write more loans, The New York Times reported on Wednesday (Jan. China’s central bank said it would cut its reserve requirement ratio – the amount of cash from deposits that lenders must have on-hand – by 0.5

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PYMNTS

NOVEMBER 10, 2020

After gaining a new license to operate as a financial institution in Latin America's largest economy of Brazil, MercadoLibre will work on expanding its portfolio of credit offerings, a report from BNAmericas says. Mercado Pago has been authorized since 2018 by Brazil's central bank to act as a payment institution.

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PYMNTS

OCTOBER 9, 2020

In terms of collaboration, as noted in this space, the Federal Reserve is working in collaboration with seven other central banks and the Bank for International Settlements (BIS) to bring together a framework that would smooth the path to digital currency issuance. The Federal Reserve Bank has been exploring a digital currency.

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PYMNTS

OCTOBER 13, 2020

While coronavirus infections continue to rise in Europe, they'll likely have less of an economic impact this time around, Klaas Knot , Dutch central bank president and European Central Bank board member, said on Tuesday (Oct. Meanwhile, Business 20 warned recently that the global economy was in deep trouble.

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PYMNTS

FEBRUARY 5, 2020

In today’s top payments news, former Bank of France Governor Christian Noyer said a centralized, global eCurrency is still at least a decade away, the U.S. economy could lose $10.3 Former BoF Gov: Central Bank Coin Currency At Least A Decade Away. US Economy Could Lose $10B To Chinese Travel Ban.

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PYMNTS

NOVEMBER 10, 2020

Global payments startup SumUp announced it has been granted a new electronic money (eMoney) license from the Central Bank of Ireland.

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PYMNTS

FEBRUARY 7, 2019

6) said the central bank’s report has pointed to PayPal’s absence for the reason why the country has missed out on as much as $2 billion in payments related to information and communication technology (ICT) payments. Reports in the Express Tribune on Wednesday (Feb. But the true value could be as high as $2.5

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PYMNTS

JULY 10, 2019

The European Central Bank (ECB) opened up about cryptocurrency and said it wouldn’t recognize it as an actual currency, according to reports. The bank also said it didn’t have any plans to put bitcoin into its reserves. The statement underpins the bank’s ongoing icy stance on cryptocurrency in general.

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Fintech Finance

SEPTEMBER 23, 2024

As such, I am delighted to be joining the team to help further expand its offerings to central banks, regulators, market infrastructures, and financial institutions, among others.” On joining Raidiam, Lauren said: “The data economy will be the future lifeblood of nations.

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Fintech Finance

FEBRUARY 8, 2024

Earlier, Mastercard, in collaboration with the Central Bank of Egypt (CBE) and EBC, had supported the implementation of card tokenization regulations by providing infrastructure to issuing banks across the country, expected to launch 2024.

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The Fintech Times

SEPTEMBER 27, 2024

Many key sectors in Myanmar, including banking, insurance, foreign trade and domestic wholesale trade, have been nationalised since 1962. Agriculture, however, remains the largest contributor to the economy, accounting for nearly half of the GDP and employing two-thirds of the labour force.

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PYMNTS

JUNE 16, 2020

Even Federal Reserve Chair Jerome Powell said Tuesday the longer the country’s economic downtown persists the potential for more long-term damage to the economy. Until then, firms will have to rely on investor and central-bank willingness to keep the debt machinery humming. In an age where U.S.

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PYMNTS

JANUARY 6, 2020

The Central Bank of Jamaica (BOJ) has confirmed it will abide by the Principles for Financial Market Infrastructures (PFMIs). The bank explicated that FMIs are crucial to Jamaica’s financial system and the country’s broader economy, contributing to overall financial growth.

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Payments Source

AUGUST 11, 2017

Alipay and WeChat Pay have become important drivers in the Chinese economy, putting the central bank in a position to force all third-party payment firms to connect to the new clearing house.

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PYMNTS

NOVEMBER 14, 2018

IMF head Christine Lagarde called on central banks to seriously consider issuing digital currency to fill the gap left by the declining use of cash. Lagarde said by embracing digital currencies central banks can supply money to the digital economy. reported the Financial Times.

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Fintech News

JANUARY 9, 2024

The government’s aim with this initiative is to invigorate Thailand’s economy, the second-largest in Southeast Asia, targeting a growth rate of at least 5% annually. Under this scheme, around 50 million Thai citizens will each receive 10,000 baht (about US$285) to spend within their local communities.

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