The landscape of instant payments in the US is undergoing significant transformation, with projections indicating substantial growth in adoption rates by 2028. Accelerating instant payments in the US According to Reed Luhtanen, Executive Director of the US Faster Payments Council (FPC), it is anticipated that within the next four years, 70-80% of financial institutions will […]

Mastercard and JPMorgan Chase have announced a ground breaking partnership – combining their strengths in blockchain technology – to revolutionise cross-border business-to-business (B2B) payments. Cross-border payments with blockchain This collaboration integrates Mastercard’s Multi-Token Network (MTN) with JPMorgan’s Kinexys Digital Payments platform, streamlining global transactions through a unified API. This innovation aims to tackle persistent challenges

The Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil (BCB) have officially approved the acquisition of Transfeera, a fintech specialised in payment solutions for businesses, by PayRetailers, a leading payments processor in Latin America and Africa. PayRetailer acquires Transfeera The transaction is part of PayRetailers’ strategy to expand its presence in

In the past decade, digital wallets, also known as mobile wallets, have been one of the biggest developments in the world of both retail and fintech. Shoppers can use them to place an order online, with the digital wallet remembering all their payment and delivery information to speed up the transaction. At cross border retailers this

Generative AI (Gen AI) has emerged as a transformative force in the financial services sector. Scaling generative AI for financial services Within just a year, financial institutions have shifted from experimentation to scaling Gen AI programs, with the technology now viewed as a strategic necessity. However, the challenge lies in implementing Gen AI effectively, avoiding

As the January 17, 2025, deadline for the Digital Operational Resilience Act (DORA) draws near, financial institutions across the EU are under pressure to enhance their cybersecurity and operational resilience. Preparing for DORA Designed to harmonise security standards across the financial sector, DORA’s requirements address vulnerabilities within internal systems and third-party ecosystems. While non-compliance risks

Open Banking is much more than a technological advancement; it is a paradigm shift poised to transform the financial services industry. Open Banking is revolutionising payments By enabling secure data sharing through open APIs, Open Banking (OB) is fostering collaboration, driving innovation and putting consumers at the centre of financial ecosystems. But how will this

Ripple has announced the public rollout of its US dollar-backed stablecoin, RLUSD, scheduled for Tuesday, December 17. Ripple launches RLUSD stablecoin Initially available on both the XRP Ledger (XRP) and Ethereum networks, RLUSD aims to carve a space in the rapidly expanding stablecoin market, currently led by giants Tether (USDT) and Circle (USDC). The launch

The rapid rise in data breaches and transactional fraud has underscored the urgent need for robust digital identity systems in financial services. Digital identity in financial services With technological advancements, Open Banking frameworks and evolving regulatory landscapes, digital identity is emerging as a cornerstone for secure and seamless financial ecosystems. To combat rising cyber risks,

EBA CLEARING has announced the go-live of an OCT Inst Service, which was implemented in the pan-European RT1 System on 17 November 2024 at the request of its users. OCT Inst Service goes live in RT1 The new service allows payment service providers to leverage the pan-European instant payment system for cross-border payments that have