Global technology company Wise has strengthened its position in the international finance sector with a new integration into the Philippines’ payment systems. This development is part of Wise’s ongoing mission to provide a more efficient alternative to traditional correspondent banking, a mission it has pursued for 14 years. By partnering with the Philippines’ instant payment system, InstaPay, and gaining access
Intesa Sanpaolo and Visa have renewed their strategic partnership with the joint objective of accelerating the digital transition and boosting growth in digital payments. This multi-year collaboration is set to enhance various existing projects while introducing innovative products and services for Intesa Sanpaolo’s customers. Enterprise customers will benefit significantly from Visa’s value-added services like Visa Business Solutions, whereas consumers will
Melio, an accounts payable and receivable platform catering to small and medium businesses (SMBs), has secured $150 million in a strategic Series E funding round led by Fiserv, with participation from Shopify Ventures and Capital One Ventures. This significant investment has propelled Melio’s valuation to an impressive $2 billion. Over the past three years, Melio has seen a dramatic ten-fold
TBC Bank Uzbekistan, renowned for being the largest mobile-only bank in the country, has launched its new flagship daily banking product, Salom Card. This initiative marks a significant milestone in TBC Uzbekistan’s strategic plan to expand its digital financial services while driving both customer and revenue growth. The introduction of Salom Card is initially exclusive to subscribers on a waiting
Klarna, an AI-powered global payments network and shopping assistant, has launched flexible payment options for Zoom Workplace in 16 markets, including the US and multiple European countries, making it easier for businesses and individuals to manage digital collaboration tools. This initiative allows users to handle Zoom Workplace subscriptions with Pay Now available in all supported countries and Pay Later options
Financial transactions for businesses looking to expand into Southeast Asia and South Asia have long been fraught with challenges and complexities, particularly with traditional card payment schemes. In dynamic and fast-paced markets where card penetration remains persistently low, businesses often face the dual hurdles of exorbitant fees and delayed settlement times. These obstacles make real-time payments a crucial element in
In today’s digital-driven world, the demand for real-time cross-border payments is rising faster than ever, emphasizing the need for seamless, secure, and efficient payment methods for both consumers and businesses. Adeline Kim, Visa’s country manager for Singapore and Brunei, highlights a critical necessity: payment systems must become interoperable to address the fragmentation caused by the rapid pace of innovation. As
Google has announced plans to expand its payment app, Google Wallet, to include functionalities for children, while incorporating stringent parental controls to ensure security and oversight. The initiative is scheduled for rollout next year, allowing children with NFC-enabled smartphones to make in-store payments using PIN, fingerprint, or Face ID. However, online payments will be restricted to prevent unauthorized transactions. Parents
Stanbic Bank Kenya and Mastercard have announced the launch of two new premium credit cards aimed at high-net-worth individuals (HNWIs) in Kenya. The Stanbic World Card and the Stanbic World Elite Card are designed to enhance banking experiences by seamlessly blending luxury and convenience. These new credit cards offer a wide range of exclusive benefits, including access to airport lounges,
Affirm, a leading payment network, has recently introduced its flexible and transparent pay-over-time solutions in the UK. Founded in 2012, Affirm aims to create honest financial products that enhance consumers’ lives. This launch offers UK consumers an alternative to traditional credit cards and other installment payment methods, allowing them to split their purchases into manageable monthly payments. Affirm’s Unique Approach
The strategic partnership between Lunar, a rapidly expanding Nordic challenger bank, and Saldo Bank, a significant fintech and banking provider, promises to revolutionize banking and payment solutions in the Nordic region. By collaborating, these two financial entities aim to simplify and enhance the banking experience in Sweden, leveraging cutting-edge technology to deliver faster and more efficient services. This alliance enables
The rapid evolution of payment methods presents a substantial opportunity for businesses across various sectors. Emerging payment solutions such as contactless payments, buy now, pay later (BNPL), digital wallets, cryptocurrencies, and open banking are at the forefront of this transformation. As these new technologies become increasingly prevalent, businesses must understand their potential benefits and the impact they have on consumer
