Payments
Xoom Users Can Now Use PayPal’s Stablecoin for Cross-Border Transfers
Xoom, a subsidiary of PayPal specialising in cross-border money transfers, has enabled U.S. customers to utilise PayPal USD (PYUSD), a stablecoin pegged to the U.S. dollar, for international remittances. This addition enables users to convert PYUSD into U.S. dollars within
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TerraPay Gets MAS Green Light for Payment License
Payments infrastructure company TerraPay has been awarded a Major Payment Institution (MPI) License by the Monetary Authority of Singapore (MAS). With this new license, TerraPay now has 11 licenses and 19 approvals across 30 international markets. The MAS license enables
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Visa Launches New Service to Simplify Subscription Tracking for Cardholders
Visa has launched its Subscription Manager solution for banks and other financial institutions, enabling them to offer Visa cardholders an easy way to track their all their subscriptions. This move is in response to the burgeoning global subscription market, which
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BIS and 7 Central Banks Launch Project Agorá for Tokenised Cross-Border Payments
The Bank for International Settlements (BIS), in concert with seven prominent central banks, has embarked on an exploratory project known as Project Agorá aiming to modernise international monetary transactions. This initiative, named after the Greek word for marketplace, aims to
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Laos and Brunei Joins ASEAN’s Initiative for Real-Time Cross Border Payments
The Central Bank of Brunei Darussalam (BDCB) and the Bank of the Lao PDR (BOL) have formally joined the Regional Payment Connectivity (RPC) initiative. This expansion brings the number of ASEAN central banks involved in the RPC to eight, joining
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Marco Boldini Appointed to Lead TerraPay’s Regulatory Efforts
Payments infrastructure company TerraPay has appointed Marco Boldini as Executive Vice President and Global Head of Policy, Regulatory, and Governmental Affairs. In his new role, Boldini will lead TerraPay’s global regulatory strategy, working alongside both internal teams and external partners
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MAS Bolsters Crypto Payment Rules, Here’s What You Need to Know
The Monetary Authority of Singapore (MAS) has announced revisions to the Payment Services Act (PS Act) and related regulations, marking a significant expansion in the regulation of payment services within the country. The amendments, which are set to be implemented
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Nuvei CEO Philip Fayer to Remain at Helm as Company Goes Private
Canadian payments firm Nuvei Corporation is set to go private following a definitive agreement for a buyout by Advent International, a global private equity investor. Philip Fayer, Nuvei’s Chair and CEO, will continue leading the company, alongside his broader leadership
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Payment and Crypto Identified as Top Targets for Identity Fraud in Q4 2023
In Q4 2023, the payment and cryptocurrency sectors were the most targeted industries by identity fraud attempts, accounting for 47% and 32% of these attacks, respectively, a new report by Israeli identity verification company AU10TIX says. The rise of attacks
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Grab to Discontinue GrabPay Card in June, Citing User Preference for PayLater, Wallet
Southeast Asian ride-hailing superapp Grab has declared that its GrabPay Card service will be phased out, effective 1 June 2024. The decision affects both digital and physical versions of the card. Starting from 1 April 2024, Grab will cease accepting
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