Category: Doing Business Overseas
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Paysafe: The Evolution of Mobile Wallets
Payments are constantly evolving as companies look to create new, innovative and easy ways for consumers to make transactions. One method which has taken off in popularity is mobile wallets. Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a specialised payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly…
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Spotlight: UK Government Announces Regulatory Crackdown on Buy Now Pay Later Services
The UK Government is to apply more stringent regulations to the buy now pay later (BNPL) industry; as many continue to turn to payment instalments to manage the rising cost of living. In the announcement made on Monday, 20 June, the Government outlined its intentions to introduce BNPL systems and providers to a wider regulatory…
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What Are the Drawbacks of BNPL? With Bluefin, Kearney, Entrust and More
It is very easy for many who are new to the fintech space to think that financial technology is an exclusive term for payments technology, and while there is some truth to this, it does not tell the entire story about fintech. However, in June, The Fintech Times is looking to indulge this belief as…
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The U.K. Proposes 4 New BNPL Rules
Buy now, pay later (BNPL) has seen a lot of hype since the popularity of the technology exploded in 2020. The U.K. Financial Conduct Authority (FCA) estimates that the U.K. BNPL market is worth $3.7 billion (£2.7 billion), and that five million British citizens have used BNPL tools since 2020. This growth is great for…
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Shopify Unveils More than 100 New Features
Ecommerce company Shopify has unveiled more than 100 new announcements today. Among the top new releases are a marketplace that allows fans to use their NFTs to receive personalized benefits and a tool that allows merchants to sell to their audience on Twitter. The announcements were made as part of Shopify Editions, Shopify’s new, semi-annual…
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DigiShares Receives Grant from Polymesh Association to Support Tokenization of Securities
Two Finovate newcomers – DigiShares and the Polymesh Network – have teamed up to promote the use of tokenization to create and manage securities. The partnership comes in the form of a grant from the Polymesh Ecosystem Development Fund (EDF), a part of the not-for-profit Polymesh Association. DigiShares is headquartered in Denmark and demoed its…
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Transactions: TS Banking Group selects Temenos Banking Cloud
Iowa-based TS Banking Group has selected Temenos Banking Services delivered on the Temenos Banking Cloud for “a complete digital transformation.” TS Banking Group will migrate “the entirety of its banking operations” to Temenos’ platform, the bank holding company said in a release. “The Temenos Banking Cloud will provide us with the agility of a challenger…
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Truist launches Innovation and Technology Center
Truist has unveiled its Innovation and Technology Center, a research- and client collaboration-focused facility located at the bank’s Charlotte, N.C., headquarters. The 100,000-square-foot space is $544 billion Truist’s latest banking automation and innovation play, with technology research hubs and collaborative workspaces for the bank’s technologists, alongside a client contact center. The initiative was a vision…
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New Bank Transfer Infrastructure Launched by Stripe in EU, UK, Mexcio and Japan
Stripe, a financial software as a service is launching a new infrastructure for bank transfers, which automates all reconciliation and creates a simplified refund process. It will be first made available in the EU, UK, Mexico, and Japan. Traditionally, bank transfers require manual reconciliation, whereby teams of accountants are employed to match incoming bank transfer…
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Fintechs Are No Longer Perceived as a Threat for the Majority of Banks Finds WSO2
A new report from Economist Impact, titled Threat assessment 2022: digital competition in global finance, found 54 per cent of c-suite execs believed their financial institutions have faced greater competition over the past three years from digital alternatives, however, they are now in a better place to compete. The survey which was commissioned by WSO2,…