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Global

Valued at $10B, Nubank launches it’s Nu credit card in Mexico

March 3 2020

“Nubank , the Brazilian digital bank valued at $10 billion, is launching its Nu credit card in Mexico – a country where the unbanked population counts 36 million people.  The Sao Paulo-based fintech company, known for its fully-mobile digital bank and credit card, has raised $820 million across seven rounds of investment and has amassed […]
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Global

Airtel Payments Bank Rolls Out Aadhaar-enabled Payment System

February 27 2020

“Airtel Payments Bank today announced that it has launched Aadhaar-enabled payment system (AePS) at over 250,000 banking points across India. Customers of any bank with Aadhaar-linked bank accounts can now make financial transactions at the designated banking points of Airtel Payments Bank. Customers of Airtel Payments Bank can also do financial transactions at any AePS […]
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Global

EU Eyes Single Space for European Bank Cards

February 21 2020

“The European Commission will present this autumn a strategy on an integrated EU payments market, to facilitate the use of national payment services across Europe and reduce the dependency from international card operators such as Visa or Mastercard. The Single Euro Payments Area (SEPA) provides for uniform credit transfers and direct debits for over 500 […]
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Global

Sweden Starts Testing World’s First Central Bank Digital Currency

February 20 2020

“Sweden’s Riksbank said on Wednesday it had begun testing an e-krona, taking the country a step closer to the creation of the world’s first central bank digital currency (CBDC). If the e-krona eventually comes into circulation it will be used to simulate everyday banking activities, such as payments, deposits and withdrawals from a digital wallet […]
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Deals

Visa partners with Paga on payments and fintech for Africa and abroad

March 9 2020

“Visa has entered a partnership with Nigeria based startup Paga on payments and technology. Founded in Lagos, Paga scaled its fintech business in West Africa, before targeting expansion in Ethiopia and Mexico. The startup has created a multi-channel network for over 14 million customers in Nigeria to transfer money, pay-bills and buy things digitally through […]
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Global

Singapore, Australia to Collaborate on Digital Economy Initiatives | ZDNet

March 23 2020

“Singapore and Australia have wrapped up negotiations on a digital economy pact that will see both nations collaborate on multiple fronts, including artificial intelligence (AI), cross-border data flow, and e-payments. The trade agreement aims to provide a framework to facilitate “deeper cooperation” to “shape” international rules and establish interoperability between digital systems.”
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Global

Contactless Limits Raised Around the Globe

March 20 2020

Ireland to raise contactless transaction limit to €50 ANZ waives contactless debit card fees for small businesses in New Zealand National Bank of Georgia recommends contactless and mobile payments Desjardins increases contactless limit for Canadian credit cardholders to C$250 Poland doubles contactless payment transaction limit UAE urges consumers to use online banking services Turkey to double […]
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Global

Bank Indonesia Makes Push to Bring Street Vendors to World of Cashless Payments

March 11 2020

“Bank Indonesia (BI) is holding a National QRIS Week event across Indonesia to promote cashless transactions among small businesses using its Quick Response Indonesia Standard (QRIS) code system. During the one-week event, which ends March 15, the central bank will disseminate information on the technical details of the QRIS system and the registration process for […]
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Global

Russian Prime Minister Introduces Bill to Allow Fintech Sandboxes, Blockchain Included

March 25 2020

“Introduced in a new bill on March 17 by Prime Minister Mikhail Mishustin, the plan does not directly mention blockchain or cryptocurrencies, but an explanatory note mentions distributed ledger as one of the technologies that could be explored in the new “experimental regulatory regimes.”  Such regimes can be established to live-test the new technologies in […]