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Have we reached the ‘final frontier’ with real-time payments? Harris: Dwolla integration with cryptocurrencies on company’s growth road map Friday, May 14, 2021 6:00 AM Shazam participating in pilot program to guide FedNow instant payments system In February, Johnston-based Shazam Inc., a national member-owned debit network and payment processor, was selected to participate in a pilot program to guide development of the Federal Reserve’s instant payments offering, the FedNow Service. FedNow will offer community financial institutions a...

Zumo launches virtual Visa debit card Zumo, the Edinburgh-based crypto wallet, has today announced the launch of its Zumo virtual card. This new product allows users in the UK to make purchases at any online retailer which accepts Visa.  Zumo is the first non-custodial crypto wallet to offer users the ability to hold GBP in their wallet to then spend with a Visa card. The virtual card is the result of a partnership between Zumo and digital payments platform Modulr. Modulr provides the underlying GBP payments infrastructure upon which Zumo builds and enhances its services. Th...

Finzly CEO Booshan Rengachari Named to U.S. Faster Payments Council’s Board Advisory Group Share Article Board of directors unanimously vote to approve Rengachari as a new member of the board advisory group; Rengachari to speak at NACHA’s Smarter Faster Payments conference "I am pleased to be part of the FPC’s Board Advisory Group and look forward to playing a larger role in the industry’s education and advancement of faster payments." CHARLOTTE, N.C. (PRWEB) April 26, 2021 Finzly, a fintech provider of modern banking app...

Surveys and Reports Regulatory Developments United Kingdom: FCA publishes feedback statement on Open Finance Some of the key findings that the FCA draws out in its feedback statement are: A legislative framework would be needed for open finance to develop fully, both to provide any statutory right to data access and to support a regulatory framework. In addition to the regulatory framework, the following building blocks would be needed for a sustainable open finance ecosystem to develop – either in support of voluntary adoption or to support future legislation: consumer protections informed...

Saudi Payments launches Instant Payments System ‘sarie’ April 24, 2021 Close up of a man using mobile smart phone ARMONK/ RIYADH — Saudi Payments, under the supervision of the Saudi Central Bank (SAMA) announced the launch of Saudi Arabia’s instant payments system ‘sarie’ in cooperation with IBM and Mastercard, the leading technology company in the global payments industry. This collaboration marks a key milestone for payments innovation in the region and is aligned with Saudi Payments’ aim to improve the Kingdom’s financial ecos...