Payments News

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Finablr’s UAE Exchange, Ripple to begin blockchain payments by first quarter

“Asia was one of the biggest recipients of the roughly $613 billion in remittances sent globally last year, with a large swathe coming from expatriate workers in the Middle East, where UAE Exchange, part of payments and foreign exchange company Finablr, is one of the main players. Most funds are currently sent through foreign exchange branches […]
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IBM Launches A Blockchain-Based Global Payments Network Using Stellar’s Cryptocurrency

“IBM Blockchain World Wire will help financial institutions improve the services they deliver to their consumers by optimizing and accelerating foreign exchange, cross border payments and remittances. Using the Stellar protocol, World Wire serves as a network provider for international payments, enabling point-to-point money transfers in lieu of the complexities of conventional correspondent banking. While IBM announced an […]
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Wells Fargo Customers Use Debit/Prepaid Cards More Than Any Other U.S. Issuer

"Wells Fargo & Company (NYSE:WFC) announced today that, for the first time, its customers are now the country’s largest users of debit and prepaid cards by purchase volume, according to 2016 data issued by The Nilson Report. The new ranking, released in The Nilson Report’s April 18, 2017 issue, shows Wells Fargo customers used their debit and prepaid cards to purchase more than $306 billion in goods and services in 2016."
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Facebook’s Cryptocurrency, Libra, Could Be a Boon for Developing Nations Like India

“Facebook’s Libra cryptocurrency has taken a lot of criticism from Western government officials and media commentators —but it’s not meant for them. A major target market for the Libra is users in developing countries . From researching cryptocurrency , blockchain and other technologies in the context of developing countries , I can see that digital […]

On The Wires

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ACI Worldwide Propels National Bank of Kuwait to Become Country’s First Bank to Implement SWIFT gpi

“ACI Worldwide, the first certified vendor of SWIFT gpi solutions and a SWIFT partner for more than twenty years, enables banks around the world to take full advantage of real-time, cross-border payment opportunities with a direct connection into the SWIFT central database to monitor inbound and outbound gpi transactions. The gpi Data Service and gpi Connect capabilities are available […]
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IBM Blockchain World Wire, a New Global Payment Network, to Support Payments and Foreign Exchange in More Than 50 Countries

“Designed to optimize and accelerate foreign exchange, cross border payments and remittances, World Wire is the first blockchain network of its kind to integrate payment messaging, clearing and settlement on a single unified network, while allowing participants to dynamically choose from a variety of digital assets for settlement.”
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Ingenico Launches Full Suite of Chinese Payment Methods for International Ecommerce Players

“As 82% of the local Chinese population are unique mobile users, Ingenico has partnered with leading mobile payment platforms, Alipay and WeChat Pay, as well as with local card scheme UnionPay. Ingenico is one of the very first international payment service providers (PSP) to support all use cases for WeChat Pay, including the capability to […]