The Central Bank of Libya (CBL) has introduced a new initiative aimed at alleviating the country’s ongoing liquidity crisis while embracing the modern financial era. Through this pioneering program, commercial banks are now authorized to offer interest-free loans for electronic purchases, providing much-needed support to salaried customers who struggle with accessing cash. Detailed in Circular No. 20, drafted by the
Brazil once again positions itself at the forefront of financial innovation with the anticipated rollout of Pix by Approximation, a contactless payment system authenticated by biometrics and NFC technology. This advancement underscores the nation’s commitment to modernizing its financial infrastructure and promoting greater financial inclusion. Set to be introduced by February 28, 2025, Pix by Approximation integrates pre-linked bank accounts
Today marks a transformative milestone in the payments industry as IXOPAY announces its merger with Aperia Compliance, a global leader in PCI validation and risk management. This strategic alliance combines the strengths of two industry frontrunners to deliver secure, compliant, and scalable payment solutions. By merging their capabilities, they aim to address the pressing needs of businesses navigating intensifying cyber
In a significant move aimed at enhancing global payment access, dLocal and Spreedly have announced an expansion of their partnership to include emerging markets in Africa and the Asia-Pacific (APAC) region. This development comes as a natural progression of their existing collaboration, which had primarily focused on Latin American markets. By integrating their services, the two companies are set to
In a bid to revolutionize business banking and simplify financial management, myTU has unveiled its new AI-powered business Visa debit card—a cutting-edge, cloud-first digital banking solution designed specifically for businesses. This innovative product has already been rolled out to customers across the entire European Economic Area (EEA), offering them both physical and virtual card options. The new card boasts a
Corpay, Inc. (NYSE: CPAY), a leading S&P 500 corporate payments company, has achieved a significant milestone by completing the acquisition of GPS Capital Markets, LLC, a prominent cross-border solutions provider for upper middle market companies. This strategic move follows Corpay’s recent acquisition of Paymerang, indicating the company’s robust efforts to enhance its market position and growth potential. According to CEO
Visa hosted its first Open Payments Session in Cambodia, uniting regulators, experts, merchants, and financial services representatives to discuss the country’s advancing digital payment ecosystem. With e-commerce revenue projected to hit $1.12 billion in 2024 and rise to $1.81 billion by 2029, the landscape is set for significant transformation. Key discussions at the session included the rise of cashless and
As banks face decreasing revenues and operating margins, they cannot rely solely on cost optimization to maintain profitability. Instead, they need to focus on generating new revenue streams. One promising area is lending to SMEs, particularly middle-market clients. By extensively digitalizing and automating the lending process, banks can simplify the lending experience, making it more efficient and attractive for SMEs.
Komercijalna Banka AD Skopje, a prominent bank in North Macedonia, has chosen Entrust, a global leader in identity-centric security solutions, to enhance its physical card portfolio. This collaboration focuses on integrating the Entrust Digital Card Solution into Komercijalna Banka’s existing banking app, mBanka, to facilitate seamless digital payment options for its customers. Additionally, BCS North Macedonia, a long-term partner of
PayRetailers, a leading payment processor operating in Latin America and Africa, has introduced an advanced Pix payment solution designed to assist Brazilian sports betting operators in adhering to new regulations set to take effect on January 1, 2025. Pix, an instant payment system developed by Brazil’s Central Bank, has significantly transformed the way transactions are conducted in the country, boasting
In the dynamic world of e-commerce, Reserva, a prominent leader in Brazil’s innovative fashion retail sector, has recently embarked on a transformative journey that has significantly boosted its growth trajectory. Partnering with Yuno, a premier payment orchestrator, Reserva achieved sustainable growth by enhancing its purchase conversion rate by four percentage points and improving various aspects of its operations, including efficiency,
A pivotal partnership between Network International and Gate To Pay has been announced to enhance digital payments in Jordan, targeting the creation of a financially inclusive and digitally advanced economy. Unveiled at the MENA ICT event, this collaboration aims to offer secure and accessible digital payment options for both businesses and consumers, marking a significant stride in transforming Jordan’s payment
