Payments

All the latest news from the world of paytech, including banking, payment service providers (PSPs), and merchant services.

“International payments are a pain point across a range of industries including e-commerce, marketplaces, and online platforms” which “need to cater for complex layers of incoming and outgoing payments, to and from large volumes of businesses and individuals, and across multiple jurisdictions.”

“XTransfer serves as a bridge connecting leading international banks like J.P. Morgan, Deutsche Bank and DBS Bank with SMEs, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations. In addition to solving the payment problem to Chinese suppliers, we also want to help emerging countries to collect and pay with different nations.”

NYSE-listed payments provider Paysafe is deepening its collaboration with Visa, integrating the latter’s network tokenization service. This tech update aims to replace traditional card numbers with secure tokens, enhancing the safeguard against fraud.

JPMorgan has introduced a programmable payments feature for its blockchain-powered payment system, JPM Coin, via its Onyx blockchain business unit. The new feature enables automatic execution of payments based on preset rules, eliminating the need for manual checks.