Innovation within payments and commerce is increasingly centered on fostering global financial interoperability and inclusion. Already, the first half of 2024 has been particularly action-packed for the payments industry, marked by significant technological advancements and strategic initiatives aimed at reducing transaction costs as a key...
Economic growth in China reportedly fell to its slowest pace in five quarters. The surprise slowdown came as a decline in consumer spending hamstrung an increase in exports, Bloomberg reported Monday (July 15). Gross domestic product grew 4.7% year over year in the second quarter,...
TerraPay and YeePay have partnered to enhance cross-border payment solutions for customers. The new strategic partnership brings together TerraPay’s global money movement capabilities and YeePay’s enterprise payment services, the companies said in a Monday (July 8) press release. Chen Yu, co-founder of YeePay, said in the release...
Sportsbooks and daily fantasy operators are reportedly awaiting a bump in Summer Olympics-related betting. As CNBC noted in a report Thursday (July 11), this year’s Paris games will be the first Olympiad since the widespread legalization of gambling in the U.S. The industry anticipates an uptick in betting compared...
Visa announced Tuesday (July 9) that it partnered with Zing, a FinTech that is part of the HSBC Group, to develop an international payments app that Zing launched in the United Kingdom in January. The Zing app allows members to hold funds in up to 10 different currencies,...
Microsoft is requiring staff in China to use iPhones for work starting in September. The measure essentially bans Android-powered devices for these workers and is part of Microsoft’s Secure Future Initiative, designed to make sure all employees use the Microsoft Authenticator password manager and Identity...
The Bahamas-based private and corporate bank Deltec Bank has joined Visa’s B2B cross-border payment network, Visa B2B Connect. This partnership will enable faster cross-border payments for Deltec Bank’s corporate and institutional clients, built upon Visa’s global network, the companies said in a June 28 press...
Western Union is bringing its “concept store” concept to Africa with a new outpost in Morocco. The money transfer service announced the store — its first on the continent — on Wednesday (June 26), saying it was part of Western Union’s “Evolve 2025” strategy for...
Razorpay now enables Indian freelancers to reduce the cost of accepting international payments. The company’s MoneySaver Export Account allows freelancers to open an account in any country, accept payments locally via bank transfers on the Razorpay platform, and save up to 50% in fees and...