In a significant leap toward financial empowerment in Malaysia, Green Packet, a tech company listed in Malaysia, has secured a digital lending license from the Malaysian Ministry of Housing and Local Government. This license, valid from August 15, 2024, to August 14, 2026, enables the firm’s subsidiary, Packet Interactive Sdn Bhd, to broaden its suite of financial products and services
The rapid adoption of digital wallets worldwide is set to change the financial landscape profoundly in the coming years. Around 52.6% of the global population will be using digital wallets by 2024. This figure is projected to soar to two-thirds by 2029, representing a growth of 15.3% over the following four years. The ease of accepting digital wallets is a
As the world emerges from the crippling effects of the COVID-19 pandemic, the financial industry is faced with unprecedented challenges and opportunities in facilitating business recovery and growth. Small and medium-sized enterprises (SMEs) have been especially hard-hit, requiring innovative solutions to secure necessary funding. Meanwhile, banks are leveraging advancements in technology to meet these needs. Digital lending has emerged as
In an era where digital transformation is at the forefront, enterprise payments are undergoing a significant shift, particularly with the introduction of Pay by Bank. This new payment method, driven by open banking technology, promises to revolutionize the way businesses handle transactions. TrueLayer, a leading open banking payments network in Europe, has embarked on an ambitious collaboration with BR-DGE, a
Transcard, a global leader in payments technology, has recently ventured into the Canadian market with the launch of its cutting-edge SMART Suite for payment orchestration. The first Canadian company to embrace this innovative digital payment platform is Xodus Travel Services. Transcard’s embedded payment system is designed to support various currencies, languages, and extensive data requirements while adhering to GDPR, RPAA,
Effective January 9, 2025, the eurozone has witnessed a transformative change in financial transactions with the implementation of the SEPA Instant Payments regulation. This mandate, which requires all banks and payment service providers (PSPs) across the eurozone to process instant payments, significantly enhances the speed and efficiency of the continent’s payment infrastructure. A remarkable aspect of this regulation is the
HyperPay, a leading payment services provider in the MENA region, has recently obtained a prestigious license from the Saudi Central Bank (SAMA), marking a significant milestone for the company. This accomplishment positions HyperPay to enhance its digital payment solutions and support the financial sector goals of Saudi Arabia. This strategic move aligns well with the Kingdom’s Vision 2030, which aims
Latin America is undergoing a rapid transformation as its financial landscape increasingly shifts towards digital payments. This significant change is predominantly led by Brazil and Mexico, two of the largest economies in the region. Their move towards digital transaction methods has been instrumental in modernizing traditional banking practices, promoting financial inclusion, and reducing overall transaction costs. This article delves into
As 2025 approaches, taxpayers need to be aware of the options available for paying federal taxes to the IRS. With advancements in technology and the necessity for convenience, the IRS has provided various methods that can cater to different preferences and needs. From online payments to traditional methods, the IRS has streamlined the process to ensure taxpayers can meet their
In the competitive world of earning air miles, the UOB Preferred Platinum Visa and UOB Visa Signature credit cards stand out for their straightforward approach to rewarding contactless transactions. However, the nuances of what constitutes a contactless payment can be confusing, especially when it comes to payments made via in-app or browser-based Apple or Google Pay. This article aims to
The contemporary landscape of financial services is undergoing a significant transformation, driven by the evolving money mobility ecosystem. This ecosystem encompasses the processes and technologies that facilitate seamless financial transactions, offering new opportunities for revenue generation and customer engagement. Financial institutions and FinTech companies are capitalizing on advancements in digital technology, allowing them to innovate and compete in ways previously
The European Instant Payments Regulation (IPR), formally identified as Regulation (EU) 2024/886, has ignited significant conversations about its potential to revamp the payment landscape across Europe. This progressive regulation mandates Payment Service Providers (PSPs) to facilitate instant credit transfers in euros under equitable conditions, effectively accelerating the European continent’s shift towards real-time payments. For fintech startups, this landmark regulation represents
