Plumery, a renowned digital banking experience platform, has announced a strategic partnership with Payment Components in a bold move to modernize financial institutions on a global scale. This collaboration is set to decouple digital experience and payment processes from outdated legacy banking systems, providing a route for more flexible and efficient operations without necessitating drastic changes to core infrastructures. By
A significant milestone in bridging blockchain technology with traditional payment systems has been achieved through a successful pilot program executed by Swift, UBS Asset Management, and Chainlink. The initiative demonstrates the potential to streamline inefficient processes within the subscription and redemption of mutual funds—a sector that has traditionally been beset by manual interventions, delayed settlements, and limited real-time transparency. These
NatWest has partnered with Mastercard to introduce a groundbreaking mobile virtual card payment solution called Approval2Buy with Mobile Virtual Cards, poised to transform the way businesses in the UK manage corporate transactions. This collaboration marks a significant milestone, as it is the first implementation of Mastercard’s mobile virtual card app in Europe, offering enhanced flexibility, control, and security for corporate
Mastercard’s recent unveiling of Pay Local, a groundbreaking service designed to streamline card payments through local digital wallets, has created quite a buzz in the financial technology landscape. Launched strategically before the Singapore FinTech Festival, Pay Local is expected to facilitate transactions for residents and international travelers by allowing them to link their credit or debit cards to digital wallets
Mastercard has launched a new service called Mastercard Pay Local with the aim of improving the convenience of payments through local digital wallets. This initiative allows both resident cardholders and international travelers to link their credit and debit cards directly to digital wallets without requiring a prepaid account setup, thus enabling immediate spending. The Asia Pacific (APAC) region stands to
Mastercard, a leading company in payment technology, has announced the launch of Mastercard Pay Local, a product designed to enhance cross-border payments by integrating with local digital wallets. This initiative, introduced just before the Singapore FinTech Festival, addresses the increasing demand for a seamless payment experience for both local residents and international travelers. With Mastercard Pay Local, cardholders can instantly
Keppel Ltd., through its private fund Keppel Data Centre Fund II (KDCF II), has made a significant move to bolster its presence in the Asian data center market by acquiring a data center development project in Tokyo, Japan. This facility, known as Keppel Data Centre Tokyo 2, marks Keppel’s first foray into developing such projects in Japan, and it stands
The state of global insurtech funding by the end of the third quarter of 2024 reveals a nuanced picture of growth, challenges, and opportunities in the insurance technology landscape. Insurtech, which refers to employing innovative technology to enhance and disrupt traditional insurance services, has been a focal point for investment and development. By the end of Q3 2024, the sector
In a notable achievement that underscores the growing importance of digital finance in Southeast Asia, Funding Societies has secured an impressive credit facility surpassing $100 million from HSBC’s ASEAN Growth Fund. This marks the third consecutive credit line extended by HSBC since 2022, reflecting a sustained commitment to supporting digital finance platforms addressing the needs of micro, small, and medium
MeaWallet, a renowned leader in digital payments specializing in card tokenization, has recently introduced innovative features to support Click to Pay, an online payment method designed to offer a seamless, secure, and faster online shopping experience. This development is set to elevate convenience for both consumers and merchants by enhancing the checkout process. Click to Pay functions similarly to contactless
The 2024 Chargeback Field Report, released by Chargebacks911 alongside Edgar, Dunn & Company, reveals a concerning trend affecting businesses both large and small: over the past three years, 72% of merchants have experienced an increase in chargebacks, predominantly due to first-party misuse, commonly referred to as “friendly fraud.” As businesses grapple with this surge, many are resorting to raising prices
PowerPay, a US-based digital lender known for its innovative digital point-of-sale lending solutions and established in 2017, has recently secured a $60 million corporate bond exclusively facilitated by KeyBank. With over $8 billion in consumer loans processed to date, PowerPay specializes in home improvement, healthcare, and solar finance lending solutions. This substantial investment aims to enhance the company’s operational capabilities,
