Cross Switch goes live in Kenya
This collaboration makes the most of Pesawise’s solid regulatory standing and trusted reputation, allowing Cross Switch to establish it’s footprint and, together with Pesawise, immediately deliver robust payment solutions to businesses, merchants, and charitable organizations throughout Kenya.
Cross Switch brings to the partnership a highly scalable global payments infrastructure, allowing merchants simple and frictionless acceptance across multiple payment channels, including Visa, Mastercard, AmEx, mobile money and bank platforms.
Read more: https://www.finextra.com/pressarticle/105613/cross-switch-goes-live-in-kenya
PayPal launches contactless smartphone payments
PayPal, long known for its secure online payments, is stepping into the world of in-store contactless transactions, and it’s doing so with confidence. The online payment giant has announced it will begin offering tap-to-pay services directly from smartphones, positioning itself as a serious alternative to Apple Pay and Google Pay.
While the move may seem overdue, it’s a significant one. For years, PayPal has made online checkouts easier and safer, allowing users to avoid sharing card details with retailers. But now, the company is expanding its reach — from the virtual world to the physical checkout counter.
Read more: https://euroweeklynews.com/2025/05/15/paypal-launches-contactless-smartphone-payments/
Raiffeisen Bank International Partners with Wise to Improve Cross-Border Payments
Austria’s Raiffeisen Bank International has announced a strategic partnership with Wise Platform, the global payments infrastructure arm of Wise.
The collaboration aims to improve international payments for both personal and business customers across Central and Eastern Europe.
Operating as a universal bank in 11 markets across the region, Raiffeisen Bank International will begin integrating Wise Platform’s technology into its services to offer faster, more transparent, and cost-effective cross-border payments.
The updated service, powered by Wise’s infrastructure, will be available directly through customers’ existing Raiffeisen accounts.
Read more: https://fintechnews.ch/fintechaustria/raiffeisen-wise-partnership-cross-border-payments/76164/
FCA cancels Fidelity Payment Services registration as small payment institution
The UK Financial Conduct Authority (FCA) today cancelled Fidelity Payment Services Ltd’s registration as a small payment institution (SPI).
The cancellation, which is in accordance with the Payment Services Regulations 2017 (“the PSRs”).
The FCA explained that the firm has failed to provide payment services since registration.
The regulator also noted that the cancellation action has been imposed in order to advance the Authority’s consumer protection and integrity objectives.
