Payment systems – FinTech Ranking https://fintechranking.com All You Should Know About Fintech Thu, 11 May 2023 02:32:58 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.15 https://fintechranking.com/wp-content/uploads/2020/03/ftr_favicon2.ico Payment systems – FinTech Ranking https://fintechranking.com 32 32 96937361 Visa’s Brazilian CBDC solution targets tokenized farm contracts https://fintechranking.com/2023/05/09/visas-brazilian-cbdc-solution-targets-tokenized-farm-contracts/?utm_source=rss&utm_medium=rss&utm_campaign=visas-brazilian-cbdc-solution-targets-tokenized-farm-contracts Tue, 09 May 2023 21:28:00 +0000 http://fintechranking.com/?p=27000 In April, Visa presented its solution for the Banco Central do Brasil’s central bank digital currency (CBDC)

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]]> In April, Visa presented its solution for the Banco Central do Brasil’s central bank digital currency (CBDC) competition, the Real Digital LIFT Challenge. The prototype consists of a programmable finance platform for small and medium-sized businesses (particularly farmers), which allows tokenizing sale contracts into NFTs and auctioning them to global investors. Microsoft, Sinqia, and Agrotoken were also part of the submission.

Read more: Ledger Insights

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]]> 27000 Visa shares plans for ‘ambitious’ crypto product https://fintechranking.com/2023/04/25/visa-shares-plans-for-ambitious-crypto-product/?utm_source=rss&utm_medium=rss&utm_campaign=visa-shares-plans-for-ambitious-crypto-product Tue, 25 Apr 2023 14:26:00 +0000 http://fintechranking.com/?p=26877 Global payment giant Visa continues to explore the benefits of the cryptocurrency industry with a

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]]> Global payment giant Visa continues to explore the benefits of the cryptocurrency industry with a new initiative focused on stablecoin payments.

Cuy Sheffield, head of crypto at Visa, took to Twitter on April 24 to announce a new cryptocurrency-related project developed by the firm.

Read more: Cointelepraph

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]]> 26877 Central Banks Successfully Test DLT in Linking Financial Settlement Systems https://fintechranking.com/2023/04/19/central-banks-successfully-test-dlt-in-linking-financial-settlement-systems/?utm_source=rss&utm_medium=rss&utm_campaign=central-banks-successfully-test-dlt-in-linking-financial-settlement-systems Thu, 20 Apr 2023 04:00:00 +0000 http://fintechranking.com/?p=26839 A central bank experiment has successfully tested the use of distributed ledger technology (DLT) in

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]]> A central bank experiment has successfully tested the use of distributed ledger technology (DLT) in running large and complex interbank transactions, according to a report released on Wednesday.

The Bank of England ran “Project Meridian” through the Bank for International Settlements’ (BIS) London innovation hub to build a prototype that could potentially speed up and reduce costs of transactions in central bank Real-Time Gross Settlement (RTGS) systems.

The project used DLT to link the central bank’s RTGS system “with other financial market infrastructures and ledgers automatically orchestrating the exchange in ownership of funds and assets in a resilient and secure way,” according to a statement issued by BIS, which groups the world’s central banks.

Read more: CoinDesk

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]]> 26839 Visa Partners PayPal and Venmo to Offer Digital P2P Payments https://fintechranking.com/2023/04/11/visa-partners-paypal-and-venmo-to-offer-digital-p2p-payments/?utm_source=rss&utm_medium=rss&utm_campaign=visa-partners-paypal-and-venmo-to-offer-digital-p2p-payments Wed, 12 Apr 2023 02:11:00 +0000 http://fintechranking.com/?p=26797 Visa announced it is partnering with PayPal and Venmo to pilot Visa+, an innovative service that

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]]> Visa announced it is partnering with PayPal and Venmo to pilot Visa+, an innovative service that aims to help individuals move money quickly and securely between different person-to-person (P2P) digital payment apps. Later this year, Venmo and PayPal users in the US will be able to start moving money seamlessly between the two platforms.

Visa+ will not require users to have a Visa card; instead, by setting up a personalized payment address linked to their Venmo or PayPal account, individuals using either app will be able to receive and send payments quickly and securely between the platforms.

As part of a joint effort to build interoperability across payment platforms, Visa partners DailyPay, i2c, TabaPay and Western Union, will also integrate Visa+ within their platforms. Through this collaboration, Visa+ will expand its reach and enable more use cases, including gig, creator and marketplace payouts. Participating digital wallets, neo-banks and other payment apps, reaching millions of US users, will be able to enable interoperability through Visa+.

Read more: Visa

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]]> 26797 BIS develops cross-border retail CBDC payment system https://fintechranking.com/2023/03/06/bis-develops-cross-border-retail-cbdc-payment-system/?utm_source=rss&utm_medium=rss&utm_campaign=bis-develops-cross-border-retail-cbdc-payment-system Tue, 07 Mar 2023 00:12:00 +0000 http://fintechranking.com/?p=26556 A cross-border system connecting central bank digital currencies could allow for cheaper and safer global

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]]> A cross-border system connecting central bank digital currencies could allow for cheaper and safer global payments, according to a report published by the Bank of International Settlements on Monday. 

The Basel-based bank for central banks’ Innovation Hub, in cooperation with the central banks of Israel, Norway and Sweden, has wrapped up “Project Icebreaker” to find solutions for DLT-based cross-border transactions.

Read more: The Block

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]]> 26556 Mastercard to allow crypto payments in Web3 via USDC settlements https://fintechranking.com/2023/02/21/mastercard-to-allow-crypto-payments-in-web3-via-usdc-settlements/?utm_source=rss&utm_medium=rss&utm_campaign=mastercard-to-allow-crypto-payments-in-web3-via-usdc-settlements Wed, 22 Feb 2023 00:13:00 +0000 http://fintechranking.com/?p=26506 A partnership between Web3 payment protocol Immersve and payments giant Mastercard will allow users to

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]]> A partnership between Web3 payment protocol Immersve and payments giant Mastercard will allow users to make crypto payments on digital, physical and the metaverse worlds. Once the transaction is successful from the user’s end, USD Coin tokens — a United States dollar-backed stablecoin issued by Circle — will get converted to fiat and be used to settle transactions on Mastercard’s network.

The Mastercard-Immersve partnership uses decentralized protocols to settle real-time cryptocurrency transactions on outlets accepting Mastercard payments online. Users will be able to use their existing Web3 wallets to make direct crypto payments without relying on a third party for collateral.

Instead, Immersve will partner with a third-party settlement provider and allow its users to use USDC for all purchases. 

Read more: Cointelegraph

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]]> 26506 Visa Ramps up Crypto Efforts in Latin America and the Caribbean https://fintechranking.com/2022/06/14/visa-ramps-up-crypto-efforts-in-latin-america-and-the-caribbean/?utm_source=rss&utm_medium=rss&utm_campaign=visa-ramps-up-crypto-efforts-in-latin-america-and-the-caribbean Tue, 14 Jun 2022 09:46:00 +0000 http://fintechranking.com/?p=25477 As interest and consumer adoption of digital currencies continue to surge globally, Visa today announced

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]]> As interest and consumer adoption of digital currencies continue to surge globally, Visa today announced that its crypto efforts in Latin America and the Caribbean (LAC) are substantially advancing with new local card-based partnerships and other crypto initiatives that are poised to unlock several opportunities for businesses, governments, and consumers to access the future of digital money.

Through crypto-linked credentials crypto exchange consumers can make purchases in local fiat anywhere Visa is accepted, purchase crypto assets with existing credentials, and receive cashback in Bitcoin or other digital currencies. “In the context of Latin America, cryptocurrencies are a concrete solution to improve the life of people. At Lemon, we want to contribute to the crypto revolution across the region, and for that we offer a 2% cashback in Bitcoin for all purchases made with Visa credentials,” said Borja Martel Seward, Co-Founder of Lemon.

Read more: Visa

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]]> 25477 Visa Completes Acquisition of Currencycloud https://fintechranking.com/2021/12/20/visa-completes-acquisition-of-currencycloud/?utm_source=rss&utm_medium=rss&utm_campaign=visa-completes-acquisition-of-currencycloud Mon, 20 Dec 2021 14:26:00 +0000 http://fintechranking.com/?p=24905 Visa today announced it has completed the acquisition of Currencycloud, a global platform that enables

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]]> Visa today announced it has completed the acquisition of Currencycloud, a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments.

The acquisition will empower Visa and Currencycloud clients and partners to provide greater transparency, flexibility and control for consumers and businesses when making international payments or doing business in multiple currencies.

Read more: BUSINESS WIRE

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]]> 24905 Visa launches crypto consulting services https://fintechranking.com/2021/12/08/visa-launches-crypto-consulting-services/?utm_source=rss&utm_medium=rss&utm_campaign=visa-launches-crypto-consulting-services Wed, 08 Dec 2021 18:19:00 +0000 http://fintechranking.com/?p=24881 Visa is launching new consulting and advisory services to help its clients navigate the world of

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]]> Visa is launching new consulting and advisory services to help its clients navigate the world of cryptocurrencies.

The payments processor said Wednesday its crypto advisory practice, housed within its consulting and analytics division, will offer advice to financial institutions, retailers and other firms on everything from rolling out crypto features to exploring non-fungible tokens.

Read more: CNBC

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]]> 24881 Mastercard launches crypto-linked cards across Asia-Pacific https://fintechranking.com/2021/11/08/mastercard-launches-crypto-linked-cards-across-asia-pacific/?utm_source=rss&utm_medium=rss&utm_campaign=mastercard-launches-crypto-linked-cards-across-asia-pacific Mon, 08 Nov 2021 15:01:00 +0000 http://fintechranking.com/?p=24747 In partnership with Mastercard, three leading cryptocurrency service providers in Asia Pacific will be launching

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]]> In partnership with Mastercard, three leading cryptocurrency service providers in Asia Pacific will be launching crypto-funded Mastercard payment cards. For the first time, consumers and businesses in the Asia Pacific region will be able to apply for crypto-linked Mastercard credit, debit or pre-paid cards that will enable them to instantly convert their cryptocurrencies into traditional fiat currency, which can be spent everywhere Mastercard is accepted around the world.

The three digital asset service providers that Mastercard is partnering with are Amber Group, Bitkub in Thailand, and CoinJar in Australia, all of which offer cryptocurrency purchase and exchange services in their respective domestic markets. These companies are the first APAC-based cryptocurrency platforms to join Mastercard’s global Crypto Card Program which was designed to make it simpler and faster for crypto firms to bring secure, compliant payment cards to market, as consumers increasingly seek to fund everyday transactions securely and efficiently with digital currencies.

Read more: Mastercard

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