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Five of the leading mobile wallet operators have agreed to establish the “Wallet Interoperability Council”, aiming to leverage TerraPay’s technology to facilitate interconnection and interoperability in cross-border transactions. Mobile wallets launch “Wallet Interoperability Council” Together, these operators serve millions of wallet users, spanning regions such as Bangladesh, Colombia, Kenya, Senegal, Tanzania and Uganda. The founding […]

In the rapidly evolving financial landscape, banks face an urgent need to engage and retain customers, particularly as digital-first solutions rise in popularity. The “Banking on Engagement” white paper by Tink highlights this challenge, emphasising how Personal Finance Management (PFM) tools have become critical in attracting and maintaining customer loyalty. The Digital Shift The widespread

Seven in 10 Gen Z Canadian adults (69%) have embraced the mobile wallet, and six in 10 (63%) prefer to leave their physical wallet at home for short trips, according to a recent survey commissioned by Interac Corp. Gen Z driving a surge in mobile wallet Gen Z’s use of mobile wallets outpaces all other

Rachel Reeves, the UK Chancellor, is urging regulators to demonstrate how they are promoting the City’s competitiveness while safeguarding consumers. Regulatory push over APP fraud rules Reeves’ call comes as the Treasury raises concerns about a new anti-fraud regime set to launch in October 2024, which would require banks to reimburse fraud victims up to

As instant payments proliferate world-wide, a new white paper from global payment technology experts RS2 cautions banks to get smarter about optimising their foreign exchange (ForEx) strategies. Data from Capital Monitor reveals[1] foreign exchange can carry costs of between 2.5% and 3.58% on average, depending on the currency pair. As cross-border instant payments using cards

As market digitalization accelerates, customer expectations are reshaping how we shop and pay, blending online and offline experiences into unified commerce. Future of payments: Digital innovations Digital wallets are rising in popularity, automated systems promise to simplify transactions, and innovations like tokenization, biometric authentication, and AI-driven fraud detection are enhancing security, while. The future of

The Italian payments market is undergoing a profound transformation driven by technological advancements and evolving consumer behaviours. As we move through 2024, the Italian market is seeing significant shifts towards digital and contactless payment methods, influenced by regulatory frameworks and the rapid adoption of innovative technologies. Market Overview The Italian payment market is diverse and

Apple has announced it will open its iPhone’s NFC chip to third-party developers in multiple countries, including the US, UK, and several others, as part of its iOS 18.1 update. Apple to open NFC chip to third parties This move comes after regulatory pressure from both the US and EU authorities, who have scrutinized Apple’s

European banks have expressed “serious concerns” regarding the UK Payment Systems Regulator’s (PSR) plan to cap interchange fees on cross-border digital transactions. Concerns over UK’s cap on interchange fees This proposal, which impacts fees levied by Visa and Mastercard on behalf of banks, is seen by European banking bodies as potentially “discriminatory” and harmful to

The Russian central bank has officially revoked the banking license of American Express’s Russian subsidiary following a voluntary liquidation request by the US lender’s unit. American Express exits Russia This decision comes after Russian President Vladimir Putin approved the liquidation of American Express Bank’s Russian operations in May 2023, over two years after the company