UBS Trials Blockchain-Based Payment System for Cross-Border Transactions LeapRate

November 07, 2024 BY Sam Boughedda

UBS Trials Blockchain-Based Payment System for Cross-Border Transactions

It was revealed that the pilot program involved multiple multinational clients and banks, facilitating domestic transactions within Switzerland and international payments in various currencies, including US dollars, Swiss francs, euros, and Chinese yuan. Andy Kollegger, head of UBS Institutional & Multinational Banking, emphasised the strategic importance of blockchain-based payment solutions for cross-border transactions. "UBS Digital…

October 18, 2024 BY Sam Boughedda

Bank Rakyat Indonesia Partners with Nium to Boost Cross-Border Payments in Indonesia

The firm explained in a press release that the collaboration aims to provide BRI's customers with faster, more convenient, and cost-effective international money transfers. Through the partnership, BRI's 150 million customers will have access to a range of real-time payment options, including bank account transfers, card payments, and digital wallets. This is said to be…

September 24, 2024 BY Sam Boughedda

Worldline Partners With Anadolubank Nederland For Cloud-Based Instant Payments

The collaboration is said to enable Anadolubank to "seamlessly comply" with the new EU Instant Payments regulation, setting a precedent for other mid-size banks seeking to modernise their operations while adhering to regulatory standards. Worldline said in its press release that its cloud-based solution offers various services, including instant payment processing, customer sanction screening, and…

October 27, 2023 BY Elizabeth Anderson

Poland's Bank Millennium issues statement on quarterly mortgage target

Currently, the Polish borrowers who had chosen mortgages denominated in foreign currencies, primarily Swiss francs, attracted by the promise of lower interest rates, face a financial predicament. The subsequent appreciation of the Swiss franc against the Polish zloty, coupled with interest rate hikes in Switzerland, has placed borrowers in the damaging position of managing larger-than-expected…

September 27, 2023 BY Elizabeth Anderson

Meta pays £149m office lease cancellation due to hybrid working

This is the latest in a spurt of brick-and-mortar lease cancellations by tech-based firms. Those in the know said it is because many companies adopted a hybrid working model, where people go into the office to attend meetings and such but perform most of their work remotely. This practice is especially prevalent in the tech…

August 09, 2023 BY Elizabeth Anderson

SEC acts against 11 firms neglecting electronic communications

In acknowledging the oversights, these firms forked out a combined $289m to pay their respective penalties as per the outline below. $125m penalty payable by Wells Fargo Securities LLC, together with Wells Fargo Clearing Services LLC and Wells Fargo Financial Network LLC. BNP Paribas Securities Corp. and SG Americas Securities LLC each paying penalties of…

June 29, 2023 BY Steffy Bogdanova

EU announces modernisation of payment services

The commission is additionally considering granting non-bank payment service providers full access to all payment systems within the EU. This approach aims to establish equal opportunities for both banks and non-banks by implementing a new set of regulations. Furthermore, this measure is anticipated to offer adequate protections for non-bank providers and ensure their entitlement to…

March 27, 2023 BY Steffy Bogdanova

Equals Group acquires global payments services provider Oonex

Equals stated: Oonex’s ability to issue local IBANs within the Eurozone will significantly expand the addressable market for the Group’s platform and products and fits with Equals’ strategy to enable its customers to ‘Collect globally, deliver locally, control centrally.’ The latest acquisition complements the completion of Roqqett Limited’s acquisition, earlier in January. The terms of…

March 06, 2023 BY Steffy Bogdanova

Nuvei expands operations in Australia with full suite of payments solutions

Nuvei Chair and CEO Philip Fayer commented: Our mission is to help our customers connect with their customers regardless of location, payment method or currency. Launching in Australia is a natural step for our continued expansion in APAC, having already established a strong and growing presence in the region. He continued: We know the role…

February 28, 2023 BY Steffy Bogdanova

PayPoint finalizes acquisition of Appreciate Group

Nick Wiles, Chief Executive Officer of PayPoint, commented: Work on integration is already underway, with an immediate focus on organisational alignment, building on the strong momentum in both businesses and unlocking commercial revenue enhancements. The acquisition is expected to be immediately earnings enhancing in FY24 and the Board believes it will deliver attractive returns for…

Category: Payments