Iraq’s central bank is taking significant steps towards a digital economy by planning to introduce its own digital currency to replace traditional paper notes. Governor Ali Al-Allaq announced that this initiative is part of a broader shift in the global financial system, as many central banks around the world move towards digital currencies. The bank ...
As 2024 comes to a close, PYMNTS’ “What’s Next in Payments” series has captured key insights from industry leaders about the evolving landscape of banking, payments, and the connected economy. Highlights include discussions on the future of generative AI in finance, the transformation of banking as institutions adapt to consumer demands, and advancements in payment ...
AstroPay, founded in 2009, is a profitable payment service provider based in Latin America. The company aims to transition into a global fintech platform, offering a multi-currency wallet and payment card for easy money transactions through its app. Unlike other services like Wise, AstroPay also partners with merchants, allowing customers to pay directly using AstroPay ...
Wirex, a leading digital finance platform, proudly marks its 10th anniversary this year. Over the past decade, it has evolved from a novel idea to a global leader in Web3 finance, offering seamless access to both digital and traditional currencies. Notably, Wirex launched the world’s first debit card for digital assets in 2015, bridging the ...
 "Amidst insolvency, Byju Raveendran apologizes to employees, promising small payments and strength to continue their educational mission together.")
Byju Raveendran, the founder of Byju’s, recently expressed his apologies to employees for their unpaid wages due to the company’s ongoing financial struggles and insolvency proceedings. Once valued at $22 billion, the edtech firm has faced significant challenges including legal disputes and regulatory issues. In a heartfelt message, Raveendran acknowledged the hard work and dedication ...
 "Amid financial turmoil, Paytm vows to regain profitability by focusing on core payments and leveraging AI for growth.")
Paytm, under the leadership of founder Vijay Shekhar Sharma, is focusing on its core payment services while aiming for profitability. Speaking at the annual meeting, Sharma emphasized a commitment to compliance and continuous improvement in business operations. Recently, Paytm faced challenges, including a reported loss of Rs 839 crore in the first quarter of FY25 ...
 "PhonePe partners with Liquid Group to enable seamless UPI payments for Indian travelers in Singapore, enhancing their travel experience.")
Walmart’s fintech company, PhonePe, has teamed up with Liquid Group to enhance payment options for Indian travelers in Singapore. This partnership allows PhonePe users to easily scan QR codes at various locations, including popular tourist spots like Changi Airport, restaurants, and shops. Ritesh Pai, CEO of International Payments at PhonePe, expressed excitement about enabling quick ...
 "Wockhardt vehemently denies allegations of improper rental payments and insists it remains compliant with all applicable laws amid investigations.")
Wockhardt, the Mumbai-based drug company, has firmly rejected allegations concerning rental payments connected to Carol Info Services and issues raised by the Securities and Exchange Board of India (Sebi). In a recent regulatory filing, Wockhardt described the claims as “completely baseless and misleading,” emphasizing their commitment to abiding by all laws. These statements came in ...
Hong Kong is testing the digital yuan for retail and cross-border payments. This trial aims to make transactions faster and more convenient for residents and visitors. By adopting digital currency, Hong Kong hopes to streamline the financial process, boost economic activity, and enhance its role as an international financial hub. Keep an eye on this ...
As more industries embrace cryptocurrency as a payment option, concerns about safety and security have been raised. From retail to healthcare, businesses are exploring the use of digital currencies like Bitcoin to streamline transactions and increase efficiency. However, with the rise of cyber threats and hacking incidents, implementing measures to protect sensitive financial data is ...
