Remove Financial Inclusion Remove Instant Payments Remove Underserved
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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

The Somalia Payment Switch (SPS1) has successfully launched the country’s first ever Instant Payment System with QR payments support powered by BPC’s next generation SmartVista platform, a global leader in payment solutions2. The demand for secure, fast, and modern payment solutions has been pressing.

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Somalia Launches First Nationwide Instant Payment System Powered by BPC

Fintech Finance

The Somalia Payment Switch (SPS1) has successfully launched the country’s first ever Instant Payment System with QR payments support powered by BPC’s next generation SmartVista platform, a global leader in payment solutions2. The demand for secure, fast, and modern payment solutions has been pressing.

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Interledger Commits $4Million to Remove Financial Roadblock to Implementing Instant Payments

The Fintech Times

The Interledger Foundation , an organisation building and advocating for an open, interoperable payment network, is introducing a new initiative to fund fintechs that leverage its Interledger Protocol (ILP) to bring payment capabilities to emerging markets and underserved populations.

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Thunes Enables Banks to Unlock Mobile Wallet Payments Via Their Existing Swift Connectivity

Fintech Finance

Through the new connection with Thunes’s Direct Global Network leveraging existing Swift connectivity, financial institutions can now send instant payments directly to mobile wallets in over 130 countries and 80 currencies.

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Paymentology’s predictions for 2025

The Payments Association

Jeff Parker, CEO, says, “Digital payments will continue to grow rapidly, with mobile wallets expected to reach 4.8 Key trends will include the acceleration of cross-border, real-time and instant payments and the rise of cashless economies. billion users by 2025, nearly 60% of the global population.

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FPC 2022 Fall Member Meeting

Faster Payments Council

How can we look to this rapidly growing business for new use cases for instant payments? A robust information exchange framework with common standards and protocols is a step toward enabling e-invoices and e-remittances support for instant payment messages in the United States.

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Addressing the Silent Crisis of Failed Payments

Fintech News

Combatting fraud As the world becomes more interconnected and instant payments gain prominence, the threat of fraud also rises. Push payment fraud, where funds are transferred to fraudulent accounts, is a significant concern. The immediacy of instant payments demands precision and validation.