Payments News

On The Web

nbsp;

Global

Fino Payments Bank Starts QR-based Payments for Merchants

“MUMBAI: Fino Payments Bank on Monday said it is facilitating person-to-merchant (P2M) payments through QR code-based unified payments interface (UPI) solution. Fino’s initiative comes amidst a surge in QR-code based payment solutions riding on increased smartphone penetration, usage of high-speed internet and Aadhaar-linked bank accounts.”
nbsp;

Global

Russia’s Mir Card Payment System Connects to Apple Pay

“Russia’s card payment system Mir, which was set up in 2015 after the West imposed sanctions on Moscow, is now connected to Apple Pay, the card issuer said on Tuesday. More than 95 million Mir cards have been issued by Russia’s National Card Payment System (NSPK), accounting for about a third of Russia’s card market […]
nbsp;

Global

ASEAN Banks Battle Non-bank Fintech Companies – Tech Wire Asia

“Fintech companies offering digital payments have been rapidly growing their customer bases across the Association of Southeast Asian Nations (ASEAN) region in recent years.  The Big Five of ASEAN — Indonesia, Thailand, the Philippines, Singapore, and Malaysia are a hotbed for non-banks building regional electronic e-wallet platforms. In fact, they are so popular that fintech […]
nbsp; nbsp;

Global

India’s RBL Bank Signs up Visa After Cenbank Ban on Mastercard

“India’s RBL Bank (RATB.NS) said on Thursday it has signed up Visa Inc (V.N) for its credit cards, a day after India’s central bank decided to bar rival payments company Mastercard Inc (MA.N) from issuing new debit or credit cards in the country. The lender aims to issue new credit cards under the Visa network […]
nbsp;

Global

RBI Bars Mastercard From Issuing New Debit, Credit Cards in India From 22 July

“The Reserve Bank of India (RBI) on Wednesday imposed restrictions on Mastercard Asia / Pacific Pte Ltd (Mastercard) from onboarding new domestic debit, credit or prepaid customers on its card network. The ban on Mastercard issuing new cards takes effect on 22 July. The action has been against the payment system operator for violating RBI’s […]
nbsp;

Global

After El Salvador, India May Move to Classify Bitcoin As an Asset Class

“After El Salvador’s historic move to adopt Bitcoin as legal tender (rendering it full currency status), things are looking brighter back home in India for crypto-enthusiasts. Top sources tracking the industry told this publication that the government has moved away from its earlier hostile stance towards virtual currencies and will most likely classify Bitcoin as […]

On The Wires

nbsp;

Global

FICO UK Credit Market Report May 2021: Markedly Lower Year-On-Year Increase in Credit Card Spend Suggests Consumers Are Adjusting to ‘New Normal’

“Global analytics software provider FICO today released its analysis of UK card trends for May 2021, which suggests that some consumers are practicing pragmatic financial management, as well as continuing to make use of savings accrued during the pandemic. There are, however, warning signs of the financial pressure growing for those already in debt. Whilst the […]
nbsp;

Global

BigCommerce and Mercado Libre Partner to Power Cross-Border Ecommerce Growth

“BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established brands, today announced a partnership with Mercado Libre (Nasdaq: MELI), the leading ecommerce marketplace in Latin America, to give BigCommerce merchants the ability to sell across Latin America to nearly 133 million unique consumers on Mercado Libre’s Marketplace. It also marks Mercado […]
nbsp;