The Fintech Times

NOVEMBER 9, 2024

In the last five years, Sri Lanka’s economy has struggled greatly. Back in 2012, Sri Lanka had the highest financial inclusion rate in South Asia with two-thirds of its population having access to formal financial accounts. It was also exploring the idea of public input on the prospect and thoughts on open banking.

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Economy Online and Mobile Banking Central Bank Financial Inclusion 84

The Fintech Times

MAY 27, 2024

ZainCash Iraq , a payment service provider and subsidiary of March Holding , has implemented Temenos’ core banking and payments platform to drive the growth and innovation of its digital payment services. The post ZainCash Adopts Temenos Technology to Expand Financial Inclusion in Iraq appeared first on The Fintech Times.

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The Fintech Times

OCTOBER 3, 2024

According to the Asian Development Bank (ADB), the country’s economy is dominated by agriculture and capital-intensive extractions of gold, oil, copper and silver. The informal economy also plays a major role in the country, as 87 per cent of the population relies on it for their livelihood.

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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.

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

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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.

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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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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.

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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.

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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.

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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.

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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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Instant Payments Central Bank Payment APIs and Integration Real Time Payments 58

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.

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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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The Fintech Times

OCTOBER 23, 2024

According to the World Bank , the country has a gross domestic product per capita of around $2,389 – while its economy is reliant on energy resources in the Timor Sea. Tackling these challenges Despite these challenges, the fintech industry could certainly play a role in improving financial inclusion for citizens of Timor-Leste.

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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.

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Digital Payments Online and Mobile Banking Central Bank Financial Inclusion 98

Fintech Finance

NOVEMBER 18, 2024

Our collaboration with Mastercard will enable businesses to leverage the latest financial regulations endorsed by the Central Bank of Egypt and the Financial Regulatory Authority, enhance offered digital financial services and promote new products aimed at driving financial inclusion and digital transformation across Egypt.”

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Visa Non-Bank Payments Financial Inclusion 104

Fintech Finance

OCTOBER 23, 2024

As a company that is powering economies and empowering people, we understand the importance of a world-class payment infrastructure. Mastercard Gateway is a single touchpoint that powers payment and digital acceptance solutions across new and existing markets and channels, locally and globally.

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Visa Digital Payments Gateways Technology 97

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.

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Digital Currency CBDC Cross-Border Payments Cross-Border 110

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%

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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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Visa Economy Central Bank Digital Payments 52

The Fintech Times

NOVEMBER 14, 2024

All four have historically been very cash-reliant, with access to traditional financial services being restricted. In fact, all their economies would be considered low-middle income based on gross domestic product (GDP), excluding Turkmenistan. Nonetheless, the advent of fintech could prove fruitful for all four countries.

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FinTech Online and Mobile Banking Financial Inclusion Central Bank 71

The Fintech Times

OCTOBER 25, 2024

The country’s journey from a cash-dominated economy to a digital leader began to take shape in 2016, a pivotal year for India’s financial arena. Accelerating financial inclusion Though demonetisation was abrupt, it accelerated digitalisation in India, with a significant impact on financial inclusion.

Digital Payments 58

Digital Payments FinTech Online and Mobile Banking Financial Inclusion 58

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.

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The Fintech Times

NOVEMBER 5, 2024

Spire , a fintech leveraging open banking to make financial services accessible, is joining forces with Salt Edge , the financial API platform with PSD2 and open banking solutions, to help Bahraini banks extend open banking to corporate accounts.

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Accounts Third-Party Service Provider Financial Inclusion API 63

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.

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Central Bank Financial Inclusion Blockchain Interoperability 63

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.

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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.

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Consumer Credit Cards Online and Mobile Banking Economy 98

Fintech News

JULY 3, 2024

According to the project report containing conclusions and key learnings recently released by the Bank for International Settlements Innovation Hub (BISIH) Singapore Centre, there is a sizeable flow of intra- and extra-ASEAN payments that could be processed through Nexus. trillion by 2025. Nexus Scheme Organisation (NSO) structure.

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Cross-Border Payments Cross-Border Instant Payments Central Bank 108

The Fintech Times

NOVEMBER 4, 2024

Nepal’s economy is very much reliant on agriculture. However, recognising a need for change, Nepal is actively aiming to develop its economy and technological capabilities. The nation’s fintech journey began at least as early as 1990 when Nepal Arab Bank (now known as NABIL Bank ) introduced credit cards.

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The Fintech Times

NOVEMBER 7, 2024

While it has made significant gains from incoming tourism, the country needs to diversify its economy to ensure a positive future. However, during the Covid pandemic, the country’s tourism industry (and therefore its economy) experienced a significant hit – leading to its GDP per capita falling to a little over $7,000.

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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.

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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.

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The Fintech Times

SEPTEMBER 14, 2024

These economies have since developed into fully advanced nations. This became the key factor in driving industrial growth in next-generation smart machinery, Asian Silicon Valley, biotech and pharmaceuticals, green energy, national defence, new agriculture and circular economy.

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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.

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Economy Consumer Alternative Payment Methods Online and Mobile Banking 52

Fintech Finance

MAY 23, 2024

Temenos (SIX: TEMN) today announced that ZainCash , a subsidiary of March Holding and a leading payment service provider in Iraq, has gone live with Temenos core banking and payments to power the rapid growth and innovation of its digital payment services.

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Digital Payments FinTech Financial Inclusion Payment APIs and Integration 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.

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Interoperability Real Time Payments Non-Bank Financial Inclusion 64