Payments News
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Global

Brazil Sprints Ahead in Mobile Payments Innovation

“Brazil will see its leadership in technological innovation for mobile payments strenghtened as a predicted increase in smartphone adoption is set to create more opportunities in the sector, a study says. Home to a burgeoning financial services technology industry, Brazil is the most advanced in the Latin America and the Caribbean when it comes to […]

On The Web

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Global

80 Percent of Merchants in Canada Accept Apple Pay

“During the company’s Show Time event keynote, Apple CEO Tim Cook revealed that 80 percent of retailers in Canada accept Apple Pay. In comparison to other countries, Canada stands in the middle of the pack. In the U.S., for instance, 70 percent of merchants accept the mobile payments platform, while in Australia an impressive 99 […]
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Global

Users of China UnionPay’s Mobile Payment App Hit 150 Million

“User can make payments, buy wealth management products and make debit card balance inquires on the app Cloud Quick Pass, the Shanghai-based company said. The platform supports online applications for more than 80 types of credit cards from 21 banks, and cardholders of over 230 lenders can make mobile payments by scanning the association’s quick […]
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Global

Amazon Pay Makes an Offline Push With ‘scan and Pay’ Service

“Amazon Pay, the online payments service owned by the world’s biggest online retailer, is planning to introduce “scan and pay” service at neighbourhood stores, said three people familiar with the matter, requesting anonymity. Amazon has already introduced the payments service in department store chain Shoppers Stop, in which the online retailer owns a 5% stake, […]
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Deals

Mastercard to Join Investors in Online Retailer Jumia : The Standard

“Jumia Technologies AG said Mastercard Inc has agreed to invest Sh5.6 billion (50 million euros or $56 million) in a private placement ahead of the Africa-focused online retailer’s planned initial public offering in New York.The US credit-card giant joins shareholders such as French drinks maker, Pernod Ricard SA, which bought a 5.1 per cent stake […]
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Global

Egypt Switches to Digital Payments

“Despite people’s concerns over the digitization of payments, Egyptian Minister of Finance Mohamed Maait affirmed April 16 that the Egyptian government is to implement the E-Payments Act as of May 2019.  On March 11, Egypt’s parliament voted in favor of the E-Payments Act, which regulates cashless payments. The law includes 13 articles requiring all government, […]
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Global

Brazil’s Pagseguro Launches Instant Payment Feature for Debit And Credit Card Transactions

“Brazilian card processor Pagseguro Digital Ltd said it will offer instant payments for merchants in debit and credit card transactions, according to a securities filing on Monday. Pagseguro’s move follows Itau Unibanco Holding SA’s card processor unit decision to stop charging interest rates and repaying merchants using its machines in two days, compared with the […]
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Global

Tencent Joins Soros and Cohen With Stake in Agentina’s Uala

“Chinese Internet giant Tencent Holdings Ltd . is taking a stake in Argentina’s mobile payments app Uala, adding to previous investments by Goldman Sachs and billionaires George Soros and Steve Cohen.    The equity investment will be used to continue developing the fintech company in South America’s second-largest economy, according to founder and CEO Pierpaolo […]