Payments News

On The Web

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OEM Pay Transaction Volumes to Exceed $1tn a Year by 2024

“Consumers will use payments services provided by smartphone makers and other original equipment manufacturers (OEMs) to make transactions valued at more than US$1tn a year by 2024, up from US$333bn in 2020, according to Juniper Research. Apple Pay, China and the adoption of contactless payments for transit ticketing will be the key drivers of the […]
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Deals

Global Fintech As a Service Rapyd Partners With Dock & Banco Rendimento to Launch All-in-One Solution in Brazil

“Rapyd, a global B2B Fintech as a Service provider, announced on Monday it has partnered with major Brazilian payment providers, including Dock, a banking as a service technology company, Banco Rendimento, and other local partners to support cash, bank transfers, e-wallets, bill payments, debit and credit card transactions and issuing in Brazil through an all-in-one solution.”
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Domains

Instacart Launches New Mobile Payment Solution for Shoppers

“With the added feature, new users who sign up for Instacart can now start shopping in less than a day. They previously had to wait for their physical payment card to arrive in the mail. Instacart Shopper Engineering vice-president Kevin Henrikson said: “We know that for many shoppers, convenience is key. We’ve heard from shoppers […]
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Domains

Kenya turns to M-Pesa mobile-money to stem the spread of COVID-19

“Kenya’s largest teleco, Safaricom, will implement a fee-waiver on East Africa’s leading mobile-money product, M-Pesa , to reduce the physical exchange of currency in response to the COVID-19 outbreak. The company announced that all person-to-person (P2P) transactions under 1,000 Kenyan Schillings (≈ $10) would be free starting Tuesday for the next 90 days.”
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Domains

China’s Mobile Payments Grew More Than 70% in Q4

“Digital payments continued to grow in China in the last quarter of 2019, while mobile payments grew even faster. For the three months through December, the country’s banks processed 62.1 billion electronic payments, representing a total of 654.9 trillion yuan ($93.45 trillion), according to statistics released Tuesday by the People’s Bank of China (PBOC), the […]
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Domains

Grocery and Food Delivery Apps Set Record Days of App Downloads

“Interest in grocery delivery apps has spiked in the US over the past few days as the seriousness of the coronavirus is starting to sink in. Just yesterday, for example, Walmart Grocery, Instacart and Shipt , which is owned by Target, all set new records for daily app downloads. Comparing average daily downloads in February […]
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On The Wires

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TransferWise for Banks launches in Portugal with Activo Bank

“We’ve brought TransferWise for Banks to Portugal, enabling financial institutions to integrate TransferWise and offer their customers cheaper, faster, transparent payments to 85+ countries and 40+ currencies. This means any financial institution can integrate TransferWise’s API directly into their own infrastructure. And today we’re proud to announce that ActivoBank, the digital arm of Millennium BCP, […]