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
In an age where digital payments are becoming increasingly prevalent, the role of physical cash in the global economy is being questioned. Despite the convenience and efficiency of cashless transactions, there are compelling arguments for the continued use of paper money. This article explores the various facets of this debate, highlighting the potential risks and benefits associated with a cashless
Uganda, like many other African nations, is grappling with the complex task of embracing digital payments as a means to foster financial inclusion and economic growth. Yet, the journey has been fraught with difficulties, primarily due to poor Internet access, inadequate mobile network coverage, and subpar customer service. Research indicates that approximately 61% of Ugandans are utilizing digital payment solutions,
Spendesk, a French FinTech company known for its innovative spend management platform, has taken a significant step forward by launching a new financial services division, Spendesk Financial Services, in collaboration with Visa. This new division is powered by a license from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), which grants Spendesk complete control over its payment services infrastructure.
The digital payment landscape has just taken a significant step forward with the launch of the Yueda Card by Visa and LianLian Global. This initiative aims to fundamentally streamline cross-border business payments, particularly focusing on the needs of small and medium enterprises (SMEs) and larger corporations. By leveraging Visa’s global payment network combined with LianLian Global’s innovative cross-border payment technology,
In a significant move aimed at enhancing its platform’s capabilities, Spendesk, a spend management platform for mid-sized businesses, has officially launched Spendesk Financial Services, its own payment institution. This development gives Spendesk the autonomy to control its payment services infrastructure, marking a substantial milestone in the company’s growth. Regulated by the ACPR and backed by a partnership with Visa, Spendesk
