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Global

UPI Transactions Reaches New Heights with 5.58 Billion in April 2022

According to information provided by the National Payments Corporation of India (NPCI), 5.58 billion transactions were processed using the Unified Payments Interface (UPI) in April 2022. This is the most extensive number of UPI transactions in a single month since the system was launched in 2016.  Last month, the payments network saw transactions worth Rs. […]
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Global

Fewer Online Card Frauds Since New Payment Checks Introduced, says Nationwide

“Britain’s biggest building society is seeing around 2,000 fewer cases of online card fraud per month following the introduction of new industry payment checks to protect shoppers. The strong customer authentication (SCA) requirements were fully rolled out in March. Because of these, people shopping online may find they are asked to verify a purchase via […]
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Global

UK’s Digital Watchdogs Take a Closer Look at Algorithms as Plans Set Out for Year Ahead

“This “algorithmic processing” is commonplace and often beneficial, underpinning many of the products and services we use in everyday life. From detecting fraudulent activity in financial services to connecting us with friends online or translating languages at the click of a button, these systems have become a core part of modern society. However, algorithmic systems, […]
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Global

China Digital Currency: Leading Mobile Payment Apps Alipay, WeChat Pay Install New Features to Help Widen e-CNY Roll-out

“China’s sovereign digital currency, known as e-CNY, is on track to achieve greater exposure in more cities across the mainland, as leading domestic mobile payments providers Alipay and WeChat Pay install new features to support its wider roll-out. Alipay, operated by financial technology giant Ant Group, announced on Thursday that its app has added a button that enables users […]
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Global

Intense Jostle for Market Share as Telcos Delve into Retail Banking

“A new wave of competition for the retail segment of banking has been activated with MTN and Airtel eyeing a large chunk of the market that has sustained the profitability of many Deposit Money Banks (DMBs) for decades. The hustle and fierce contest among DMBs and payment platforms for control of retail banking market is […]
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Global

Here Are The Top Trends Shaping India’s Payment Scene

“India’s digital payments space has seen a massive boom over the past few years, a growth that’s been supported by an expanding e-commerce marketplace and the wider availability of acceptance infrastructure at physical stores. Building on the rise in digital payment adoption induced by COVID-19 and growing collaborations between fintechs and traditional financial services providers, […]
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Global

Join the Digital Euro Front-End Prototyping Exercise (European Central Bank)

“The digital euro investigation phase is moving forward with an exercise to explore user interface solutions for making payments with digital euro.  The ECB has launched a call for expression of interest for payment service providers, banks and other relevant companies to join an exercise to develop prototype user interfaces. Selected front-end providers will form a pool of […]
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Global

Brazil Among Countries With Most Real-Time Payment Transactions

“In the wake of the growth of Pix, the Central Bank’s instant-payment system, Brazil was the fourth country that carried out the most real-time transactions last year, an advance of four positions compared to 2020. There were 8.7 billion transactions, which represented 5% of the total in the country, according to a global survey by […]
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Global

Bitcoin is Now Official Currency in Central African Republic

“The Central African Republic has adopted Bitcoin as an official currency, the presidency said on Wednesday, making it the first country in Africa and only the second in the world to do so….A bill governing the use of cryptocurrency was adopted unanimously by parliament last week, said a statement signed by Obed Namsio, chief of […]