Visa Brings Google Wallet to Jordan, Transforming Contactless Payments
Visa, a global leader in digital payments, has announced that cardholders in Jordan can add their Visa cards to Google Wallet.
Starting today, Visa cardholders of Arab Bank, InvestBank and Al Rajhi Banking and Investment Corporation (Al Rajhi Bank Jordan) can add their Visa cards to their Google Wallet on Android and Wear OS devices, allowing payments to be made wherever contactless options are accepted. This integration supports the strong demand for digital payment options in Jordan, offering locals and tourists alike with the convenience of using their mobile phones for contactless payments.
Ripple Secures First DFSA Blockchain Payments License in Dubai Push
Blockchain payments company Ripple has secured a regulatory license from the Dubai Financial Services Authority (DFSA), becoming the first digital assets-enabled payments provider authorized to operate in the Dubai International Finance Centre (DIFC), the company announced today (Thursday).
Ripple Becomes First Blockchain Payments Provider Licensed by Dubai’s Financial Regulator
The approval represents Ripple’s first license in the Middle East and allows the company to offer regulated crypto payment services to businesses throughout the UAE, strengthening its position in a region where it already maintains about 20% of its global customer base.
Merchants Look to Acquirers as Key Partners for Payment Innovation
This is where acquirers enter the picture. For smaller acquirers especially, this can be a tall order — and merchants seem to know it. Data shows that many merchants choose to work with large, well-known providers that possess the scale to build robust payments and customer experience solutions in-house.
PYMNTS Intelligence’s latest research finds that 10% of small acquirers, defined as those processing less than $1 billion per year, report high confidence in their ability to meet demand for seamless unified shopping. That compares to 74% of those processing volumes greater than $100 billion.
Despite these challenges, small acquirers can still play in the big leagues. The industrywide shift toward modular, third-party solutions levels the playing field and eliminates the resource-intensive need to build technology in-house. Third-party solutions offer compelling advantages, including ease of implementation, simplified maintenance and low upfront costs.
Singapore and Vietnam forge closer fintech links
The upgraded MOU on financial innovation will facilitate an expanded scope of cooperation on joint digital innovation projects, promote payment connectivity between Singapore and Vietnam, and support FinTech operations in both markets, the MAS statement on 12 March said.
Chia Der Jiun, managing director of MAS, said: “Singapore and Viet Nam enjoy a longstanding, multi-faceted partnership in financial services. Stronger cooperation in financial services will support the deepening of economic and trade relations between our countries. Today, with the exchange of this upgraded MOU, we reaffirm our commitment to cooperate in the development of our financial sectors, including through FinTech innovation and payments connectivity.”
Nguyen Thi Hong, Governor of SBV, said: “The close cooperation in the banking and financial sector between Viet Nam and Singapore over the years has demonstrated its positive role in supporting bilateral trade and investment relations, leading to significant achievements. Singapore serves as a great inspiration for financial innovation in the region and globally.
Read more: https://international-adviser.com/singapore-and-vietnam-forge-closer-fintech-links/
State Bank of India to set up an AI fintech project finance unit
The State Bank of India has announced its plan to establish a unit focused on AI and ecommerce to diversify its project finance efforts.
Following this announcement, State Bank of India is currently setting up a unit in order to manage project financial tools such as artificial intelligence, ecommerce, and fintech. The strategy is set to diversify its project finance efforts, as well as target sectors that are currently benefiting from increased infrastructure spending under the government upgrades.
In addition, the public sector bank also plans to complete the project within a year, while diversifying its structuring unit as well, which appraises and funds large projects. The strategy will focus on lending to multiple industries and energy sectors that make up a larger portion of SBI’s project financing portfolios as well.
Banking on collaboration: How fintech and bank partnerships can help SMEs grow globally
Alvin Huang, the founder of Singapore-based Truegenics, a company specialising in health and beauty products for the US market, first discovered WorldFirst in 2017.
Although initially unsure about using fintech for cross-border money transfers, he was later convinced after his company saved six figures, thanks to the global payment platform’s competitive foreign exchange rates.
“We explored a few of its competitors, but we are still using WorldFirst today because the platform and service have been seamless and reliable,” says Huang.
Read moere: https://www.businesstimes.com.sg/companies-markets/worldfirst-fintech-bank-partnerships-sme-expansion-global
