The International Monetary Fund (IMF), the World Bank and the Bank for International Settlements (BIS) have reportedly joined forces to explore the concept of tokenization. This collaboration aims to leverage tokenization technology to streamline financial processes and enhance global economic development, Reuters reported Tuesday (Nov. 28). Tokenization involves converting traditional financial assets into...
FinTechs issuers have revolutionized the banking and lending sector, enabling consumers to get easier access to their finances and allowing them to manage their money more effectively. Through the introduction of various personal finance management tools, such as saving pots, in-app budgeting capabilities and virtual...
Alan Koenigsberg, senior vice president and global head of large, middle market, treasury and working capital solutions at Visa, took note of the rapid shifts in payments and finance during an interview with Karen Webster. “If you feel a bit breathless, I think the whole...
The year 2023 has been one of the biggest yet for innovation across the payments landscape. New, emerging rails including the FedNow® Service and RTP® (Real-Time Payments) have changed the game for both consumers and businesses when it comes to the choice, flexibility and security...
With 2024 right around the corner, Vineeth Subramanyam, managing director and global head of Spring by Citi, told Karen Webster that the unstoppable push toward personalization and automation in payments will take a cue from innovations stretching back into the early days of the millennium. “The magic,”...
No one (other than PYMNTS readers) wakes up thinking about payments or money movement. Rather, it is what’s on the other side of the transaction — typically goods or services — that is top of mind. And it’s across the infrastructure enabling that transaction and...
Innovations in payments have paved the path to progress throughout history. And while the journey has not been a linear one, it is increasingly becoming a digital one. “The technology and payments infrastructure is there in most global markets,” Eric Shoykhet, co-founder and CEO of...
FinTech firms’ products and services provide benefits that far exceed the risks they pose. So said Rep. French Hill of Arkansas, chairman of the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion, during opening remarks delivered Wednesday (Oct. 25) before the hearing,...
When it comes to innovation in payments, there’s no more exciting time than right now. Historically, the U.S. businesses heavily relied on checks, Automated Clearing House (ACH) and wires to make payments. However, this changed significantly in 2015 when the Federal Reserve issued a white...
