EMEA Daily: Paysend Launches New Instant Payment Service

Today in Europe, Africa and the Middle East, U.K.-based FinTech Paysend launched a new instant payment product, and Adyen has integrated Block’s Cash App as a payment method.

Adyen to Become First FinTech Platform to Add Block’s Cash App

The Amsterdam-headquartered FinTech Adyen has partnered with Block’s mobile payment method Cash App to become the first such platform to offer Cash App outside of the Square ecosystem.

With this partnership, businesses working with Adyen will be able to begin accessing Cash App Pay as an integrated payment method for their U.S. customers online shortly and in-store next year, according to a statement released to the press Thursday.

Binance CEO: EU’s Proposed Crypto Reg ‘Strict’

Binance Founder and CEO Changpeng “CZ” Zhao reportedly said the European Union’s proposed regulation of cryptocurrency is “fantastic,” though he does have some reservations about it.

Speaking Wednesday at the Binance Blockchain Week event in Paris, the crypto exchange leader said the proposed EU regulation called Market in Crypto Assets (MiCA) is “a little bit strict” on stablecoins, CoinDesk reported.

“The drafts are not adopting USD-based stablecoins, which have 75% of the liquidity in the market,” Zhao said at the event, per the report.

Nevertheless, Zhao added that he expected other jurisdictions outside the EU to copy MiCA.

85% of UK-based International Firms Interested in X-Border Payroll Innovation

A recent PYMNTS survey of 250 U.S. and U.K. firms published in collaboration with Nium found that most businesses showed some interest in innovating payment methods for their international workers and 24.4% of those asked indicated they were “very” or “extremely” interested.

What’s more, high interest in cross-border payroll innovation was observed on both sides of the Atlantic.

Thirty percent of U.S.-headquartered firms were much more likely to respond as “very or extremely interested,” while 58.7% said they were “slightly or somewhat interested.”

Looking at U.K.-based businesses, the level of interest is concentrated in the “slightly or somewhat” group (69%), which is reflected in a lower percentage of respondents (16%) reporting the highest level of interest.

Paysend Launches New Instant Payment Service

U.K.-based FinTech Paysend on Thursday announced in a press release the launch of Instant Account Payments, which allow consumers and businesses to send instant cross-border payments between accounts up to a value of $100,000 for just $1 per payment.

Paysend users can now send payments using the firm’s global network spanning 25 countries and currencies.

To enable the instant transactions, Paysend’s Open Payment Network orchestrates the end-to-end payment flow including payment initiation, processing, foreign exchange (FX) and settlement, the firm stated.

Through connections to local network partners and domestic instant payment schemes, the Paysend Open Payment Network increases interoperability between instant payment systems around the world and enables real-time cross-border payments by reducing the number of intermediaries in the payment chain, per the release.

From Telehealth to Teletherapy, Digital Apps Boost Mental Wellness in Emerging Markets

The rising popularity of mental health apps in recent years represents the coupling of two separate healthcare trends: an increased focus on mental and emotional well-being and a shift towards remote appointments.

As PYMTS reports Thursday, in Africa, several startups that specialize in delivering remote therapy solutions are emerging onto the scene to provide resources and improve the mental well-being of local populations.

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