The Reserve Bank of India (RBI) is taking significant steps to enhance its cross-border payments platform by seeking new trading partners in Asia and the Middle East, aiming for instantaneous settlements. Currently, India has agreements with Sri Lanka, Bhutan, and Nepal. The RBI plans to extend these agreements to include the United Arab Emirates (UAE). In addition, India is exploring
In a significant move toward modernizing business-to-business (B2B) payment processes, Mastercard has announced a new partnership with UAE-based fintech, Fundbot, focused on streamlining transactions across various industries. This collaboration aims to launch a sophisticated payments platform that simplifies and accelerates B2B payments between buyers and suppliers, initially targeting the UAE and Saudi Arabia markets. By incorporating Fundbot’s innovative dynamic discount
In a significant move set to transform the UK payment industry, Raimac Financial Technology has announced a strategic partnership with Cashflows, a leading UK platform specializing in payment acceptance solutions for businesses. This collaboration introduces Raimac’s advanced programmatic payment technology to Cashflows’ extensive service offerings, making them one of the early adopters of such innovative solutions in the UK. Cashflows,
In an era where financial inclusivity remains a pressing challenge, the strategic alliance between Universal Digital Payments Network (UDPN) and FORUS Digital aims to bridge significant gaps in Africa’s financial sector. Such collaboration leverages cutting-edge blockchain technology to promote economic development and sustainable growth across the continent. With around 105 million adults in Sub-Saharan Africa unbanked and another 350 million
The landscape of B2B payments is rapidly evolving, with companies seeking quicker, more efficient ways to handle transactions to optimize their operations and foster strong, long-lasting business relationships. TreviPay, a notable player in the B2B payments sector, has taken significant strides in enhancing the buyer onboarding process through the implementation of automation within its order-to-cash (O2C) offering. This innovative approach
In a world where businesses increasingly rely on cross-border transactions, the new partnership between Mastercard and J.P. Morgan marks a significant step forward in enhancing business-to-business (B2B) payments. By leveraging blockchain technology, this collaboration aims to streamline international payments, providing new levels of efficiency, speed, and transparency. The integration involves Mastercard’s Multi-Token Network (MTN) and J.P. Morgan’s Kinexys Digital Payments,
In a significant move to broaden payment capabilities, Guavapay has announced its new partnership with American Express, allowing MyGuava Business merchants to accept American Express Cards as a form of payment. This development is set to impact online payment gateways and point-of-sale (POS) terminals across the United Kingdom and Europe. For Guavapay, this collaboration marks a pivotal step in expanding
PayPal’s subsidiary, Xoom, has begun leveraging its stablecoin, PayPal USD (PYUSD), to streamline cross-border payments, especially targeting efficiency improvements in Asian and African markets. Introduced in 2023, PYUSD is an Ethereum-compatible ERC-20 token backed 1:1 by US dollars and issued by Paxos Trust Company. This initiative allows PayPal to conduct transactions outside traditional banking hours, offering increased flexibility and accessibility
Mastercard’s ambitious plan to replace traditional numbers and passwords with biometric authentication by 2030 aims to create a more seamless and secure financial experience for users. By leveraging unique biological traits like fingerprints, facial recognition, and iris scans, Mastercard seeks to address the vulnerabilities inherent in conventional passwords and card numbers that are often prone to hacking and misuse. This
Wirex, a prominent Web3 money app, has embarked on a significant global alliance with Banking Circle, a top provider of next-generation banking services. This strategic partnership aims to vastly improve Wirex’s global financial operations, benefiting millions of users with advanced banking solutions. Key services offered by Banking Circle include global bank accounts to optimize Wirex’s treasury operations, new payment services
In a significant move that promises to reshape the payment landscape for visitor attractions, K3 MStore, a prominent retail platform, has partnered with DNA Payments, a leading omnichannel payments company operating in the UK and EU. The collaboration aims to offer a unified payment solution, simplifying the process for both onsite and online transactions. The benefits of this partnership extend
In a significant move to bolster the digital payment industry, LTIMindtree has expanded its strategic partnership with Nexi Group, one of Europe’s foremost PayTech providers, by extending their contract to elevate Nexi’s technology infrastructure. This expanded collaboration aims to enhance essential Nexi platforms, including acquiring, issuing, and e-commerce, with a focus on delivering superior performance, innovation, and scalability. This marks
