Fintech News

JULY 4, 2024

As artificial intelligence (AI) rapidly transitions from a nascent development to a ubiquitous technology accelerating advancements across the financial landscape, far-reaching implications for central banks worldwide are quickly emerging.

Central Bank 101

Central Bank AI Correspondent Bank Correspondent 101

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. The post Comera Pay Secures Approval to Boost UAE’s Cashless Economy appeared first on The Fintech Times.

Economy 105

Economy Security Encryption Data Encryption 105

The Fintech Times

SEPTEMBER 19, 2024

The Thai banking sector could have a new key player in the first half of 2025 as Lighthub Asset , a Thai fintech and WeLab , a pan-Asian fintech platform submit an application for a virtual banking licence with the Bank of Thailand. It will provide localised digital banking services to everyone, including the underserved.

Financial Inclusion 59

Financial Inclusion Underserved Interoperability Multi-Currency 59

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.

Central Bank 59

Central Bank Security Financial Inclusion Economy 59

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.

Central Bank 52

Central Bank Visa Digital Payments Financial Inclusion 52

Fintech Finance

MAY 8, 2024

Mastercard has signed a memorandum of understanding (MoU) with The BENEFIT Company (BENEFIT), leading fintech company in Bahrain, and the national electronic payment infrastructure operator, to explore opportunities for collaboration in driving innovation and financial inclusion in the country’s dynamic payments ecosystem.

Financial Inclusion 59

Financial Inclusion Visa Innovation Funds Transfer 59

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.

Central Bank 132

Central Bank Digital Currency Visa CBDC 132

PYMNTS

DECEMBER 1, 2019

In an effort to expand access to financial institutions (FIs), the Central Bank of Nigeria is planning to license more payment providers, Bloomberg reported on Saturday (Nov. The goal is to improve Nigeria’s financial inclusion rate by 20 percent, bringing it to 80 percent by the end of 2020.

Financial Inclusion 101

Financial Inclusion Central Bank FinTech Mobile Banking 101

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. .”

Instant Payments 59

Instant Payments Central Bank Payment APIs and Integration Real Time Payments 59

Fintech Finance

SEPTEMBER 27, 2024

This strategic partnership aims to empower Trinidad and Tobago to establish a reliable and efficient real-time payments platform for both person-to-person (P2P) and person-to-merchant (P2M) transactions, expanding digital payments in the country and fostering financial inclusion.

Real Time Payments 98

Real Time Payments Financial Inclusion Central Bank International Payments 98

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.

Economy 115

Economy FinTech Governance Government 115

Fintech Finance

JULY 4, 2024

Even in today’s digital-first economy, connectivity issues can present challenges for digital payment transactions, especially in rural areas. In highly industrialized economies, internet access is not uniformly reliable. billion unbanked people worldwide.

Digital Payments 98

Digital Payments Online and Mobile Banking Central Bank Financial Inclusion 98

The Fintech Times

MAY 29, 2024

Cryptocurrencies, central bank digital currencies (CBDCs) and stablecoins remain prominent and continue to see innovation worldwide; particularly in the Middle East and Africa (MEA). By leveraging cryptocurrencies, these individuals gain access to financial tools and services previously unavailable to them.

Digital Currency 111

Digital Currency CBDC Cross-Border Payments Cross-Border 111

Fintech Finance

AUGUST 27, 2024

Mexipay will utilize ACI’s Digital Central Infrastructure solution, part of the award-winning ACI Enterprise Payments Platform, to address the need for enhanced real-time payment services. But despite its head start in the region, the country is one of the slowest-growing real-time markets in Latin America, with a projected CAGR of 7.8%

Instant Payments 97

Instant Payments Real Time Payments ISO 20022 Financial Inclusion 97

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.

Visa 52

Visa Economy Central Bank Digital Payments 52

Fintech Finance

OCTOBER 4, 2024

The giant Egypt will accelerate growth by 167%, while the smaller economies, like Ethiopia, will grow by an impressive 429% in the next decade. The digital economies of India, Latin America, and Africa together will surpass US$ 1.3 Kenya (115%), Morocco (107%), Ghana (106%), and South Africa (42%) are also mentioned in the analysis.

Consumer 98

Consumer Credit Cards Online and Mobile Banking Instant Payments 98

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.

Digital Currency 60

Digital Currency Central Bank Financial Inclusion Crime 60

Open Banking Excellence

JULY 1, 2024

This proven programme makes it simpler and faster for regulators to shape and implement their domestic open banking and open finance frameworks and policies. Helping reduce costs and enabling them to positively impact their citizens and economy drives a fairer and more inclusive society. It’s your North Star.

Use Case 130

Use Case Cross-Border Regulations Best Practices 130

The Fintech Times

SEPTEMBER 12, 2024

Kicking off proceedings in the morning on the main stage, Thomas Courtois , CEO of Nickel , the France-based neobank, highlighted the importance of financial inclusion in a modern economy. Courtois first explained that recent trends were positive: “Generally, we can say that financial inclusion has risen during the last year.

Central Bank 64

Central Bank Financial Inclusion Blockchain Interoperability 64

PYMNTS

JANUARY 27, 2021

According to a study by the Bank for International Settlements (BIS), central bank digital currencies (CBDCs) will be available for 20 percent of the world’s population in the next three years. In the past four years, 86 percent of central banks have been actively doing some kind of work on CBDCs, according to BIS.

CBDC 102

CBDC Central Bank Financial Inclusion Digital Currency 102

Fintech Finance

DECEMBER 13, 2023

The Central Bank of Colombia, Banco de la República , today announced it is partnering with ACI Worldwide (NASDAQ: ACIW), the global leader in mission-critical, real-time payments software , to build a new domestic real-time payments ecosystem as part of a nationwide banking transformation project.

Real Time Payments 52

Real Time Payments Central Bank Financial Inclusion Payments 52

Fintech Finance

APRIL 12, 2024

In Kenya, the Central Bank of Kenya reported $5.77 Cross border remittances unlock financial inclusion by empowering individuals to access formal financial services, ultimately fostering economic growth and stability in the region. billion worth of foreign currency inflows in 2022.

Cross-Border 52

Cross-Border Visa Financial Inclusion Central Bank 52

Fintech Finance

JANUARY 25, 2024

or Europe, online sales are expanding at a much faster pace in rising economies, of 20%, according to Statista’s data, in the study. Over half of the population in these regions already embraces digital payments, positioning them as central to economic growth and consumer access.

Economy 52

Economy Consumer Alternative Payment Methods Online and Mobile Banking 52

The Fintech Times

OCTOBER 4, 2024

“India has recently achieved unprecedented levels of financial inclusion and is actively promoting the adoption and growth of the online sector,” explains Rashmi Satpute , country director of India at EBANX. Meanwhile, Ethiopia’s smaller economy is estimated to experience a huge 429 per cent growth.

Consumer 52

Consumer Online and Mobile Banking Instant Payments Financial Inclusion 52

The Fintech Times

SEPTEMBER 10, 2024

In 2024, China’s fintech landscape is playing an increasingly central role in its economic development, as the country continues to solidify its position as the world’s second-largest economy. China’s economy is diverse, with leadership across various sectors, including manufacturing, agriculture, and financial services.

FinTech 59

FinTech Online and Mobile Banking Central Bank Digital Currency 59

The Fintech Times

APRIL 12, 2024

In Kenya, the Central Bank of Kenya reported $5.77 Cross-border remittances unlock financial inclusion by empowering individuals to access formal financial services, ultimately fostering economic growth, as well as stability in the region. billion worth of foreign currency inflows in 2022.

Cross-Border 69

Cross-Border Visa Transactions Financial Inclusion 69

Clearly Payments

JANUARY 4, 2024

Unlike traditional currencies issued by governments and central banks, cryptocurrencies are typically based on blockchain technology, a distributed ledger that records all transactions across a network of computers. By accepting cryptocurrency payments, merchants contribute to a more inclusive global economy.

Cryptocurrency 84

Cryptocurrency Stablecoins Cross-Border Payments Central Bank 84

Fintech Finance

MAY 23, 2024

Comera Pay, the fintech subsidiary of Comera Financial Holding , headquartered in Abu Dhabi, UAE, today announced that it was granted an In-Principle Approval from the Central Bank of the UAE to operate under the Stored Value Facilitator (SVF) and Retail Payment System Clearing Service (RPSCS) licenses.

Innovation 52

Innovation FinTech Encryption Data Encryption 52

Fintech Finance

FEBRUARY 6, 2024

” Nepal’s transition from a cash-based economy to a burgeoning digital payment ecosystem has been a remarkable journey with positive impact on financial inclusion and economic development. This signifies an increasing adoption of financial instruments and a notable shift towards digital payments.

Interoperability 64

Interoperability Real Time Payments Non-Bank Financial Inclusion 64

CoinRemitter

MAY 29, 2024

With the rise in digital currencies for payments and transactions, two innovations are much discussed: Central Bank Decentralised Currencies (CBDCs) and cryptocurrencies. CBDCs Central Bank Decentralised Currencies (CBDCs) is a form of digital currency, that is issued and regulated by the central bank of a country.

Cryptocurrency 49

Cryptocurrency Central Bank Digital Currency Privacy 49

Finovate

AUGUST 9, 2024

“With their global expertise and reach within the financial inclusion space, they will be instrumental in further expanding GCash’s social impact, especially to the underserved. The move will allow as many as ten digital banks to operate in the Philippines.

Electronic Funds Transfer (EFT) 106

Electronic Funds Transfer (EFT) Cross-Border Payments Financial Inclusion Cross-Border 106

The Fintech Times

JULY 5, 2024

With Filia Unplugged, we are helping to bridge this gap,” explained Raoul Herborg , managing director of Central Bank Digital Currency ( CBDC ) at G+D. ” In today’s digital-first economy, connectivity pain points can cause serious issues.

Digital Payments 52

Digital Payments Transactions Online and Mobile Banking CBDC 52

Fintech News

MARCH 5, 2024

3 Programmable Money: Advancing Financial Inclusion or Creating Walled Gardens, Powered by J.P. As we transition into the digital era of money movement, programmable money emerges as a transformative force in the financial industry, especially within emerging economies.

Embedded Finance 105

Embedded Finance APACS Financial Inclusion CBDC 105

Fintech News

SEPTEMBER 3, 2024

The digital handout, a central part of the ruling Pheu Thai Party’s election platform, aims to stimulate the Thai economy, which grew by 2.3% However, the handout has faced criticism from economists and former central bank governors, who argue it is fiscally irresponsible.

Adjustments 112

Adjustments Governance Government Central Bank 112

Clearly Payments

AUGUST 29, 2024

Central Bank Digital Currencies (CBDCs) have received attention in recent years as central banks worldwide explore the potential to evolve the way we conduct financial transactions. Europe : The European Central Bank (ECB) is actively working on a digital euro. What Are CBDCs?

Central Bank 91

Central Bank Digital Currency CBDC Cross-Border Payments 91

Fintech Finance

FEBRUARY 12, 2024

Visa , a world leader in digital payments, announced the signing of a Memorandum of Understanding (MoU) with Egyptian Banks Co. for Technological Advancements (EBC), the operator and developer of national payment networks and ecosystems, in collaboration with the Central Bank of Egypt (CBE).

Facilitators 52

Facilitators Cross-Border Instant Payments Central Bank 52

The Fintech Times

MARCH 14, 2024

Benefits of digital wallets The surge in e-wallet popularity underscores the real demand to address the unbanked population and bolster financial inclusion, fundamentally reshaping the lives of millions of individuals. Here’s why. Firstly, the regulatory environment in the Philippines is conducive to fintech innovation.

Online and Mobile Banking 115

Online and Mobile Banking Financial Inclusion Encryption Financial Literacy 115