Despite concerns about their limited use and survival, a wave of new stablecoins is being launched by tech companies, cryptocurrency firms, and even a state. This surge suggests growing confidence in crypto’s potential for everyday payments, but experts question their ability to compete with established players like Tether and Circle USDC.
PayPal Holdings, Inc. (PYPL) shares are on the rise today following the announcement of an expanded strategic partnership with Fiserv, Inc. (FI). This collaboration aims to simplify the integration of PayPal services for Fiserv’s merchant clients, enabling faster and more efficient checkout processes.
Aghanim, a mobile gaming fintech company, has partnered with Adyen, a global financial technology platform, to empower mobile game developers and publishers with direct-to-consumer payment processing capabilities. This strategic alliance aims to transform the mobile gaming industry by providing gamers with a seamless and secure payment experience while enabling publishers to unlock new revenue streams.
Visa Inc. has introduced a new service, Money Movement Advisory Practice, designed to assist clients and partners in navigating the complex global payments landscape. The service, offered through Visa Consulting & Analytics (VCA), aims to help businesses leverage the estimated $200 trillion money movement market by providing strategic guidance and innovative solutions.
A ransomware attack on C-Edge Technologies, a major tech provider for smaller Indian banks, has resulted in a temporary shutdown of payment systems for nearly 300 banks. The National Payments Corporation of India (NPCI) has isolated C-Edge from its payment networks to contain the attack and is working to restore services as quickly as possible.
Ferrari is expanding its acceptance of cryptocurrency payments to Europe, following a successful US launch. The move allows European dealers to cater to evolving client needs and will be rolled out starting July. Ferrari plans to expand cryptocurrency transactions globally by the end of 2024.
India and Russia have set an ambitious goal of reaching $100 billion in annual bilateral trade by 2030, while also agreeing to develop a robust payment system using national currencies. The two nations also signed nine agreements to expand cooperation in various sectors during Prime Minister Narendra Modi’s visit to Russia, aimed at bolstering economic ties and supporting India’s ‘Make in India’ initiative.
From July 1st, credit cardholders of major banks like HDFC Bank, ICICI Bank, and Axis Bank will be unable to pay their bills through third-party apps like CRED, PhonePe, Amazon Pay, and Paytm. This is due to the RBI’s mandate for all credit card bill payments through third-party apps to be routed through NPCI’s BBPS, and these banks are not yet live on the platform. While users of other banks like SBI and Kotak Mahindra Bank can continue using third-party apps, the disruption is causing concern among credit cardholders. The Payments Council of India has requested an extension to the deadline to avoid disruption, and users are voicing their concerns on social media. The RBI’s goal is to centralize bill payments for better tracking and control over fraud, but the move has sparked debate about the impact on user convenience and the role of third-party apps.
Helios, an innovator in Global Human Capital Management (HCM) and Payments, has appointed Andrew Considine as Chief Technology Officer. With over 20 years of experience in consumer and business product design and development, Considine will oversee Helios’ platform architecture and development, focusing on automation and an enhanced employee experience. Helios is set to launch its comprehensive platform later this year, revolutionizing global HCM and Payments by streamlining hiring, management, and payment processes for businesses.
