Connecting the dots in payments...’s Post

Adyen and noon join forces to transform the UAE e-commerce landscape with advanced payment solutions. Discover how Adyen and noon are transforming the UAE e-commerce landscape through a new partnership. With advanced payment solutions, they aim to enhance customer experience, streamline payment processes, and drive innovation across the region. Adyen, the global financial technology platform of choice for leading businesses, is announcing a partnership with noon, the region’s leading e-commerce platform, to support the acceleration of the region’s digital economy. Starting in 2017, noon is now a digital ecosystem of products and services created to serve and support local shoppers and businesses in the UAE, KSA, and Egypt. In response to rapid growth, noon developed noon payments, an in-house infrastructure to support their own payments needs. noon is now partnering with Adyen to enhance payment solutions for merchants and customers in the region. Adyen's single platform offers a comprehensive suite of services, including point-of-sale, advanced 3D secure and risk configurations, and shopper insights. This partnership enables noon to accelerate e-commerce innovations across the region. Source: https://lnkd.in/eqX42-kh Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #partner #partnership #paymentindustry #digitalassets #fintech #financialtechnology #financialservices

UPI QR payment acceptance comes to UAE. Network International, the leading enabler of digital commerce across the Middle East and Africa (MEA) region, in partnership with NPCI International Payments Limited (NIPL), has enabled the acceptance of QR code-based Unified Payments Interface (UPI) payments across Network’s point-of-sale (POS) terminals in the UAE. The announcement was made at an event held in Dubai in the presence of His Excellency Satish Kumar Sivan, Consul General of India to the UAE along with senior representatives from Network International and NPCI International. The initiative will facilitate seamless transactions for Indian tourists across Network International’s vast merchant network in the UAE. Network has over 200,000 POS terminals across 60,000+ merchants in sectors including retail, hospitality, transport, and supermarkets among others. UPI acceptance will be rolled out progressively, covering a wide range of establishments from retail stores and dining outlets, as well as tourist and leisure attractions including Dubai Mall and Mall of the Emirates. Source: https://lnkd.in/eHwBnXZs Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #paymentindustry #digitalassets #fintech #financialtechnology #financialservices

Here are the latest UPI stats from India 🇮🇳

Visa has announced a new collaboration with Amazon that will provide Canadian consumers with more choice at checkout. When shopping online on Amazon.ca or on the Amazon app, eligible RBC and Scotiabank credit cardholders will now have the option to select Installments enabled by Visa as their method of payment for qualifying purchases. This convenient payment option is now available and enables eligible consumers to convert their purchases into smaller, fixed payments made over a defined period. "We are excited to offer our installments solution on Amazon through two of Canada’s leading issuers, granting more consumers access to diversified payment methods and greater financial control with one of the world's largest online merchants," said Daniel Sanford, Head of Product for North America at Visa. “At Amazon we are always looking to innovate and improve the shopping and paying experience for our customers,” said Tyler Aldrich, Director, Amazon Payment Products. “Together with Visa, we’re pleased to offer customers greater choice, enabling customers to pay for their online purchases in ways that are convenient for them.” Source: https://lnkd.in/e9Y-HEGV Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #paymentindustry #partnership #fintech #visa #financialtechnology #financialservices #fintechnews

BVNK launches self-custody infrastructure for stablecoin payments. This self-hosted, self-custody digital asset infrastructure helps businesses launch stablecoin payments quickly and securely, while keeping full control and privacy over their digital assets. Layer1 is designed to eliminate the complexities and infrastructure challenges associated with developing in-house blockchain payment systems, by providing automated core features like the wallet creation, reconciliation, asset management and integrations with third-party providers. Donald J., Co-founder and CTO of BVNK, said: “Layer1 is the culmination of our learnings and it means that other businesses can launch digital asset payments without needing to be blockchain experts, to know how this or that network behaves, or when the next hard fork is coming - and without needing to deploy an entire engineering team to develop software for two years.” Source: https://lnkd.in/eFvCnGxr Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #stablecoin #paymenservices #paytech #paymentindustry #blockchain #assets #digitalassets #fintech #financialtechnology #financialservices

The recently adopted Instant Payments regulation brings Big Changes to the European Payments Landscape 🇪🇺 𝗟𝗲𝘁’𝘀 𝗵𝗮𝘃𝗲 𝗮 𝗹𝗼𝗼𝗸 𝗮𝘁 𝘁𝗵𝗲 6️⃣ 𝗞𝗲𝘆 𝗖𝗵𝗮𝗻𝗴𝗲𝘀: 1️⃣ The mandate for instant payments to become obligatory. 2️⃣ The inclusion of both consumers and businesses within its scope. 3️⃣ A requirement that instant payments not exceed the costs of traditional credit transfers, addressing the previous significant price disparities where instant transactions could cost as much as €12 (!) in some instances. 4️⃣ An obligation for banks to verify that the account numbers correspond with the payment beneficiaries' names and to issue warnings for potential errors or fraud. 5️⃣ A shift from individual transaction screening to a mandate for instant payment providers to screen their clients against EU sanctions lists at a minimum of once daily. 6️⃣ The provision for Payment and e-money institutions (PIEMIs) to have direct access to payment systems, thus eliminating the need for bank sponsorship. This represents a major departure from the traditional model, where banks were the principal access points to EU payment systems. Europe really needed this in order to keep up with Instant Payments frontrunners like Brazil (PIX), and India (UPI). What do you think? Source picture: Panagiotis Kriaris, European Payments Council (EPC), treasuryXL | The Treasury Community #payments #paytech #digitalpayments #digitalbanking #fintech #openbanking

Nuvei secures UAE license. Nuvei Corporation, the Canadian FinTech company, announced that it has secured an in-principle approval for a Retail Services Category II License from the Central Bank of the UAE, representing an important strategic expansion into the United Arab Emirates (UAE) and fortifying its global presence and commitment to the Middle East and North Africa (MENA) region. The UAE is a crucial market for Nuvei’s global customers due to its rapidly growing eCommerce sector, which is projected to surpass $10 billion in revenue by 2029 with an annual growth rate (CAGR 2024-2029) of approximately 9%1. The Retail Services Category II License enables Nuvei to offer its comprehensive suite of payments technology to businesses operating in the thriving UAE market, including direct local acquiring, payment aggregation services, and domestic and cross-border fund transfers. Through direct local acquiring, Nuvei gains greater control over the payment life cycle, ensuring further optimized payment acceptance rates and lower processing costs for its customers. Source: https://lnkd.in/e8m_Strs Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #paymentindustry #fintech #financialtechnology #financialservices

European PayTech deal activity on track to almost half in 2024 🤯 Here are Key European PayTech stats in Q1 2024:   ► European PayTech deal activity totalled at 27 deals in Q1 2024, a 55% drop from Q1 2023. ► European PayTech companies raised a combined $235m in Q1 2024, a 18% reduction YoY. ► The UK was home to the highest number of PayTech deals with 11 transactions, a 40% share of deals on the continent. Source: FinTech Global #payments #paytech #digitalpayments #paymentindustry

How China's FinTechs make gains in RMB 🆚 USD

PayDo expands across Canada with Gigadat Inc. Gigadat, one of Canada's largest FinTech companies specializing in online payment and security solutions has entered into a strategic partnership with PayDo, a leading Electronic Money Institution (EMI) recognized by the Financial Conduct Authority (FCA) and FINTRAC. This collaboration aims to expand PayDo's innovative payment services across Canada, leveraging Gigadat's extensive experience and infrastructure in the fintech sector. Operating globally across 150 countries and more than 28 industries, PayDo offers a range of personalized financial solutions for businesses and individuals. The platform features multicurrency IBANs, comprehensive merchant solutions, and robust mass payment options, all accessible through a single contract and dashboard. The strategic partnership with Gigadat will enhance the capabilities of both companies, providing clients with more secure and efficient transaction options. Source: https://lnkd.in/e_-UHkpg Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #partner #partnership #paymentindustry #fintech #financialtechnology #financialservices