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2 clusters · 4 sources · 29 days · First seen · Last updated

Global fintech and cross-border payment evolution

Overview

The fintech sector is seeing advancements in cross-border payment capabilities and the integration of open banking technologies.

In India, companies such as Jio Payment Solutions have expanded services for exporters, utilizing partnerships with Citi to facilitate payments via virtual accounts and international cards in markets including the US, UK, UAE, and Singapore. Additionally, PhonePe has partnered with Visa to launch international QR code payments and Tap to Pay solutions, enabling users to scan Visa-supported QR codes in 14 markets.

Efforts to simplify global financial activity continue through platforms like SareePay, which aims to address the complexities of international transactions. Concurrently, the evolution of open banking is reshaping personal finance by allowing authorized third-party providers to access customer-approved account data for budgeting and payments, supported by various global regulatory frameworks such as PSD2 in the EU.

Entities

Consumer Financial Protection Bureau · Visa · SareePay · Reserve Bank of India · Saudi Council of Engineers

Timeline

  1. [BUSINESS] 2 sources
    Fintech innovation advances through cross-border payments and open banking

    Fintech innovation is advancing through cross-border payment solutions like SareePay and the growing integration of open banking to streamline personal finance management.

  2. [BUSINESS] 2 sources
    Indian fintech firms expand cross-border payment services

    Indian fintech firms Jio Payment Solutions and PhonePe are launching new cross-border payment services for exporters and international travelers through partnerships with Citi and Visa.

Sources

editorialge.com · gulfmagazine.co · news9live.com · newsable.asianetnews.com