article thumbnail

Paymob Secures UAE Central Bank License, Cementing Its Role as a Regional Fintech Leader

Fintech Finance

Paymob , the leading financial services enabler in MENA-P, announces it has been granted the Retail Payment Services License by the Central Bank of the UAE (CBUAE) after successfully meeting all regulatory conditions and requirements through a rigorous approval process.

article thumbnail

2024 Payment Methods Report: Overview, Insights, and Statistics

Clearly Payments

America Biometric Payments 2 Global, especially mobile-first markets Cash Payments 5 Emerging Markets, some developed regions Central Bank Digital Currencies (CBDCs) 1 Asia, Caribbean Credit Cards Overview : Credit cards allow consumers to make purchases on credit, paying later and often with interest.

article thumbnail

Mobile Banking Malware on the Rise Amid Rapid Adoption

Fintech News

Mobile banking is a rapidly growing market that’s projected to hit a value of US$7 billion by 2032. The 2023 study, which analyzed malware targeting banking apps, uncovered that 29 malware families targeted 1,800 banking applications across 61 countries last year.

article thumbnail

Banks Improve Digital Payment Options and Expand Mobile App Services for Small Businesses

Fintech Finance

Bank of America continues its winning streak in the annual benchmark that evaluates the online and mobile experience for small business customers of the top 11 national and regional banks that focus on small business digital banking.

article thumbnail

A Comprehensive Look at Canadian Banks and How They Offer Payment Processing

Clearly Payments

Some banks have chosen to develop their own in-house payment processing systems, delivering end-to-end services directly to their customers. Other banks have formed strategic partnerships with third-party providers. From internal solutions to partnerships, we’ll provide an overview of each bank’s approach.

article thumbnail

What is a Payment Processing System and How Does It Work?

Stax

On top of that, 69% of Americans online in 2023 said they used digital payment methods to make a purchase. It ensures the secure transfer of funds from a customer to a merchant via their preferred payment method. Issuing bank – The financial institution that issued the customers credit or debit card.

Process 88
article thumbnail

The Most Common Types of Contactless Payment Methods and How They Work

Stax

They simply tap their credit card , mobile device, or smartwatch to pay. TL;DR The top 7 types of contactless payments are NFC payments , RFID payments , tap-to-pay cards , QR code payments , mobile wallets , wearable payments , and crypto transactions. That figure more than doubled to 17.9 billion by 2023and its still on the upswing.