Latin America is in the midst of a historical digital commerce boom. The region’s market of small- to mid-sized businesses and professionals that offer digital services has grown rapidly, and this transformation is also reshaping the LatAm payments space. This digital growth represents a massive...
Consumers in China are reportedly reining in spending and borrowing less due to economic uncertainty. Chinese consumers borrowed the equivalent of $564 billion last year, a more than 50% drop from 2021 and the lowest level in eight years, The Wall Street Journal (WSJ) reported...
Digital platforms are continuing to revolutionize the remittances market, and Western Union is taking notice. The 172-year-old financial services company told investors during its fourth quarter earnings call Tuesday (Feb. 7) that it sees remittance volumes remaining resilient in 2023, and growing in line with...
PhonePe is now enabling cross-border Unified Payments Interface (UPI) payments in select countries. With this support for UPI international payments, PhonePe’s Indian users can pay foreign merchants instantly when traveling abroad, the Indian eCommerce payment system and digital wallet company said in a Tuesday (Feb....
Continental nearshoring is driving a broad shift in both global trade and friction-free B2B payments. Or so observers hope. Supply-chain disruptions, prolonged “zero COVID” shutdowns in China, and soaring shipping rates, alongside widespread geopolitical uncertainty caused by Russia’s invasion of Ukraine, are combining to fuel...
Nigeria is having a tough time switching over to some new paper currency. The Financial Times (FT) reported Friday (Feb. 3) that a shortage of the new bills has led to long lines at banks and ATMs, fights, limits placed on withdrawals, closed bank branches and a...
Fintiv and Geoswift have partnered on enabling cross-border remittance payments into Asia. The collaboration — which brings together Fintiv’s mobile commerce platform and Geoswift’s payment technology and Asian cross-border payments expertise — will allow the remittances to be made through Fintiv’s mobile wallets, the companies...
Nokia will deploy new digital infrastructure connecting Southern and Eastern Africa. The Finnish telecommunications company announced on Thursday (Feb. 2) that it has been selected by the pan-African technology group Liquid Intelligent Technologies (LIT) to deploy an optical transport network connecting Kenya, Uganda, Rwanda, the...
Europe’s airlines are bouncing back from the pandemic-induced collapse of international travel. At least, some of them are. In a recently published trading update, British low-cost airline EasyJet announced an increase in passenger count to 5.43 million in December, representing a “load factor” of 87%....