Аsia
State Bank of India to set up AI, fintech project finance unit
The Economic Times, Posted March 13, 2025
State Bank of India, the country’s largest lender, is setting up a unit to manage project financing solutions for “new age industries” such as artificial intelligence, e-commerce, and fintech, according to a senior executive. The project will help diversify the work of the bank’s project finance and structuring unit, which appraises, structures and funds large projects in infrastructure. Lending to so-call new age industries and renewable energy sectors increasingly make up a larger portion of SBI’s project financing portfolios.
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Singapore and Viet Nam Enhance Cooperation in Financial Innovation
MAS, Posted March 12, 2025
The Monetary Authority of Singapore (MAS) and the State Bank of Viet Nam (SBV) have agreed today to enhance their existing Memorandum of Understanding[(MOU) to further cooperate on financial innovation.
The upgraded MOU on financial innovation will facilitate an expanded scope of cooperation on joint digital innovation projects, promote payment connectivity between Singapore and Vietnam, and support FinTech operations in both markets.
Mr Chia Der Jiun, Managing Director of MAS, said, “Singapore and Viet Nam enjoy a longstanding, multi-faceted partnership in financial services. Stronger cooperation in financial services will support the deepening of economic and trade relations between our countries. Today, with the exchange of this upgraded MOU, we reaffirm our commitment to cooperate in the development of our financial sectors, including through FinTech innovation and payments connectivity.”
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MiFinity deepens presence in ‘key growth market’ Asia
Payment Expert, Posted March 12, 2025
E-wallet provider MiFinity is expanding its services to merchants and consumers in Asia with the addition of two new digital wallets.
As part of its focus on the Asian market, MiFinity has launched Rabbit Line in Thailand, as well as LinkAja in Indonesia, two popular payment methods in the two respective markets.
MiFinity will provide both Rabbit Line and LinkAja with the backing of its single interface to integrate both digital wallets to make secure contactless payments at relevant merchants and retailers.
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Europe
UK payments regulator to be abolished and absorbed by financial watchdog
Reuters, Posted March 12, 2025
Britain’s payments regulator will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday, as it aims to cut red tape in favour of growth.
The Payment Systems Regulator (PSR), which oversees systems including MasterCard (MA.N), opens new tab and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.
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Revolut targets 93 million Spanish cards with payment terminal
Payment Expert, Posted March 12, 2025
Building on its success in the UK, Ireland and Italy, Revolut has launched its payment terminal in Spain.
Revolut Terminal allows merchants to accept Revolut Pay, enabling over 50 million global users to make purchases directly through the fintech’s mobile app.
A key advantage that sets Revolut Terminal apart from competitors is its lower transaction fees – 0.5% plus €0.02 per Revolut Pay transaction – a major benefit for merchants frustrated by high processing costs.
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Santande, Posted March 13, 2025
The card does not require opening a new bank account, and is issued by Zinia, Grupo Santander’s consumer finance platform.
Amazon Visa rewards customers with 1% back in points for purchases on Amazon.de and 0.5% for other purchases, Prime members get 2% back in points during select Amazon.de shopping events.
Prime members receive a sign-up bonus of up to €15, other customers of up to €10.
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myPOS has announced a new strategic partnership with Satispay
Financial IT, Posted March 11, 2025
myPOS has announced a new strategic partnership with Satispay, Italy’s leading independent mobile payment. United by a shared vision to support businesses, the two companies are working together to bridge the gap between physical and online shopping experiences for both merchants and consumers.
With a vast network of 5.3 million users across Italy, Satispay offers a seamless and secure payment experience. Customers can simply scan a QR code to pay at physical stores or online, ensuring a smooth and consistent checkout process across all sales channels.
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USA
APEXX Global and JP Morgan partner for greater payment agility
Payment Expert, Posted March 13, 2025
Payment orchestration platform APEXX Global has announced plans to meet merchants’ demands for “greater agility” as it joins the JP Morgan Payments Partner Network.
As one of the first Payment orchestration platforms to join JP Morgan’s Partner Network, the company has set its sights on enhancing global payment acceptance by enabling the bank’s merchant clients to improve multi-processor setups, expand local payment method acceptance and embrace new payment technologies.
Rodney Bain, Co-Founder and President at APEXX Global, stated: “This collaboration with JP Morgan Payments is a testament to our ability to drive innovation in global payments.
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The Deep dive: FinTech’s fight against $12.5bn fraud
IBS Intelligence, Posted March 13, 2025
The Federal Trade Commission (FTC) reported that consumers lost over $12.5 billion to fraud in 2024, marking a 25% increase from 2023. While the total number of fraud reports remained stable, the percentage of victims who lost money jumped from 27% to 38%.
Among the most financially devastating frauds:
-Investment scams led to $5.7 billion in losses, up 24% from last year.
Imposter scams caused $2.95 billion in damages.
Bank transfer and cryptocurrency frauds were particularly widespread, emphasising the need for stronger fraud prevention strategies.
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We launched Borderless Banking solution to accelerate global business expansion
Prometeo, Posted March 11, 2025
We’re thrilled to introduce Borderless Banking, our latest solution designed to streamline business-to-business (B2B) financial operations between Latin America and the United States. As a leading fintech infrastructure company, we continue to bridge the gap between global corporations and financial institutions, making cross-border transactions more seamless and efficient.
With Borderless Banking, we’ve integrated directly with banking infrastructures across the U.S. and LatAm to offer businesses a comprehensive financial solution. Through a single platform, it enables access to local bank accounts for receiving payments and automating collections, facilitates international payment disbursement with real-time tracking, and optimizes global treasury management by ensuring visibility of balances in all accounts. Additionally, it incorporates account verification to minimize risks and enhance security in every transaction, giving businesses greater confidence and efficiency in their international operations.
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LatAm
Brazil’s Nubank partners OpenAI to enhance internal efficiency and customer experience
Fintech Futures, Posted March 11, 2025
Brazilian challenger Nubank has teamed up with ChatGPT developer OpenAI to enhance “both customer experiences and internal efficiency”, according to a statement from OpenAI.
The first innovation created through the partnership is a custom enterprise search engine, which integrates Retrieval-Augmented Generation (RAG) techniques to enable Nubank’s over 7,000 employees to quickly find useful internal data to boost decision making and streamline workflows.
In addition, the partnership has led to the development of a Call Center Copilot, designed to assist agents in real-time by integrating the bank’s chat history and knowledge base. The tool provides next-reply suggestio
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dLocal, Posted March 12, 2025
dLocal, the leading payment platform connecting global merchants to emerging markets, has announced a strategic partnership with Coda, a leader in digital content monetization. This partnership strengthens Coda’s ability to deliver innovative payment solutions by expanding access to trusted local payment methods, unlocking new monetization opportunities for gaming publishers worldwide, with a strong presence in Latin America.
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Inetco, Posted March 11, 2025
Agility, one of Brazil’s leading IT and Cybersecurity service providers, and INETCO®, a global leader in payments monitoring and fraud prevention, are proud to announce a new partnership with Brazilian payment processing trailblazer Elo.
The partnership leverages INETCO’s innovative real-time transaction monitoring solutions and Agility’s extensive experience and expertise in supporting major clients in sectors such as banking, stock exchanges, telecommunications, and healthcare with technologies from leading vendors and managed services in cybersecurity, performance, DevSecOps, and data protection.
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Digital bank Plata garners $160m at $1.5bn valuation
Retail Banker International, Posted March 11, 2025
Mexican digital bank Plata has raised $160m in its Series A funding round with a valuation of $1.5bn.
The round, subject to regulatory approvals, was led by Kora.
It also included contributions from Moore Strategic Ventures and other investors from the US and Europe.
With this latest round, Plata’s total debt and equity investment since its inception amounts to $750m.
This comes less than two years after the bank began operations and exceeded one million active credit card users.
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Mexican fintech Plata raises $160m in Series A funding round at $1.5bn valuation
Fintech Futures, Posted March 12, 2025
Mexican fintech start-up Plata has achieved unicorn status after securing a $160 million Series A funding round at a $1.5 billon valuation.
The equity round was led by New York-based investment firm Kora and further supported by Moore Strategic Ventures, along with a group of unnamed US and European investors.
Founded in 2022, Plata specialises in consumer credit products, including BNPL, cashback, and top-up services. The company offers an app for managing expenses, transferring money, and paying bills, along with a Mastercard-powered credit card which recently surpassed one million active users.
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