Payments News

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Global

Ant Financial, Tencent Join Hong Kong Virtual Banking Race

“China Ltd. and Xiaomi Corp. are among companies to win licenses to create virtual lenders in Hong Kong, bringing major players into the race to shake up the city’s traditional banking sector.    Tencent has teamed up with ICBC’s local unit and Hong Kong Exchanges and Clearing Ltd. , according to a joint statement from […]
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Global

Brazil Fintech Nubank Opens Mexico Office As It Seeks Latam Expansion

“Brazilian fintech firm Nubank will open an office in Mexico on Tuesday, an initial step in a potential expansion into other Latin American countries, a company executive said. Nubank, a six-year-old startup that has raised $400 million from investors such as China’s Tencent Holdings Ltd, Sequoia Capital, Tiger Global Management and Kaszek Ventures, will start […]
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Companies

Why India Is Key to Mastercard’s Success Across the World

“The global digital payment network Mastercard is betting big on India. The company has laid out a blueprint to invest Rs7,000 crore (nearly $1 billion) in the country over the next five years. This includes building a $350-million data processing centre—Mastercard’s first outside home country US. Out of the over 200 countries where it has […]
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Global

Card Payments Outstrip Cash for First Time in Germany

“Germany’s preference for cash is legendary. While in neighbouring Holland, Sweden and Finland some supermarkets will have cash-free aisles, simply paying with a card in some parts of Germany is difficult.  But a new study has shown that growing trust in card payments – particularly among younger Germans – has tipped the balance in plastic’s […]
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Global

Younger Generations: a Driving Force in Changing Payments

“From the use of automatic and invisible payments to the popularity of apps for tracking spending, a new study released today by Payments Canada reveals that Millennials and Gen Z yearn for easier, more convenient options to meet their changing purchase and lifestyle patterns. These payment preferences should strike a chord with Canadian businesses. The […]
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Global

M-wallet Transactions Rise After a 5-month Gap in March: RBI Data

“Mobile wallet-based transactions witnessed an increase for the first time in five months, clocking transactions worth ₹15,990 crore in March, an increase of 12% from the preceding month, Reserve Bank of India (RBI) data shows. There were 384.89 million transactions in March as compared with 345.03 million in February worth ₹14,279 crore. The growth can be attributed […]
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Global

India’s Largest Mobile Wallet Company Paytm Now Offers a Credit Card

“The firm, operated by One97 Communications, today unveiled Paytm First Credit Card with lofty benefits as it races to bulk up its financial offerings. The cards, issued by Citi Bank, will be the first in the country to offer unlimited, one percent cashback on purchases, Paytm claimed in a statement. The company is hoping to […]
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Global

Mastercard, Amadeus, and Elavon Team up for Thai Airways Payments

“Mastercard has collaborated with tech firm Amadeus and global payments company Elavon to deliver a payments platform for Thai Airways. The Amadeus B2B Wallet Partner Pay solution is currently on trial with Thai Airways and Sweden-based travel agency Select Travel. As a result, it has already reduced cost and complexity for making payments. When the […]
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