Payments News » Global

SG govt pushes for mobile payments with unified QR code

September 18 2018

“The government of Singapore has launched the Singapore Quick Response Code (SGQR) which combines multiple payment QR codes into a single SGQR label, making QR code-based mobile payments simple for both consumers and merchants. The SGQR was developed by an industry task force co-led by the Monetary Authority of Singapore (MAS) and the Infocomm Media Development […]

Global

Africa’s Jumo raises $52M led by Goldman to bring its fintech services to Asia

September 18 2018

“Asia’s fintech scene is poised to get a little larger after Jumo, a company that offers loans to the unbanked in Africa, revealed plans to expand into the continent. To get the ball rolling, Jumo has opened an office in Singapore to lead the way and landed a massive $52 million investment led by banking giant Goldman Sachs […]

Companies

Mastercard Partner With Vodacom to Take Tanzania Cashless

September 13 2018

“Mastercard has partnered with market leader Vodacom and BancABC to introduce the first online card in Tanzania – the M-Pesa virtual card.”

Global

Panel suggests board to oversee digital payments industry

September 19 2018

in
India

“An independent Payments Regulatory Board (PRB) needs to be established to regulate the payment sector aimed at fostering competition, consumer protection, systemic stability and resilience in the payments sector, said the draft Payment and Settlement System Bill, 2018, submitted by an inter-ministerial committee for finalisation of amendments to the Payment and Settlement Act, 2007.”

Global

Orange invests in SA fintech provider

September 20 2018

in
Africa

“The African investment arm of French telecommunications giant Orange has announced financing for South African fintech company Yoco. Launched in 2015, the company provides mobile credit card payment facilities to small businesses and is seeking to expand across sub-Saharan Africa, funding for which has come through a round of finance driven by investment fund Partech, with involvement from Dutch bank FMO, […]

Companies

Equifax fined by ICO over data breach that hit Britons

September 20 2018

“Credit rating agency Equifax is to be fined £500,000 by the Information Commissioner’s Office (ICO) after it failed to protect the personal data of 15 million Britons. A 2017 cyber-attack exposed information belonging to 146 million people around the world, mostly in the US.”

Global

Electronic payments in S. Korea surge in Q2

September 20 2018

in
South Korea

“The amount of payments made electronically in South Korea continued to rally in the second quarter as a growing number of people use mobile shopping and remittance services, central bank data showed Thursday. The daily average amount of electronic financial transactions came to a record 117.4 billion won (US$104.87 million) in the April-June period, up 17.4 […]

Companies

China UnionPay eyes major European expansion with UK launch

September 20 2018

“China UnionPay, which in 2015 became the world’s biggest payment card issuer, has announced plans to launch UnionPay branded cards in the UK, a first step in a larger European expansion aimed squarely at challenging its Visa and Mastercard in their key markets.”

Global

Bridging the last mile in digital payments

September 20 2018

in
Singapore

“Over 19,000 QR codes will be replaced with SGQR codes from this month. Currently, several QR codes can be displayed at one retailer to support various e-payment schemes, which can confuse consumers. At the same time, the Government said it would open the interbank payment gates to fintech firms by 2019. Allowing non-bank players to get […]

Companies

Discover to Increase Card Acceptance in Mexico Through Network Alliance with Prosa

September 14 2018

“Discover Financial Services, a leading direct bank and payments services company, and Promoción y Operación S.A. de C.V. (Prosa), a leading payment solutions provider and domestic payments network in Mexico, signed an agreement to form a strategic network alliance to expand Discover® Global Network acceptance in Mexico. Discover, Diners Club International®, PULSE and network affiliate […]