Walmart-backed PhonePe, India’s largest digital payments provider, files preliminary documents for an IPO which may raise as much as $1.5 billion https://t.co/b2pGJizDOV ...

Walmart-backed Flipkart India has invested $30m in Supermoney, its fintech division, aiming to include offerings such as lending and stock broking services, reported Bloomberg. The investment in Supermoney follows an earlier capital injection of $20m from Flipkart at the time of the fintech unit's spinoff. Supermoney, led by CEO Prakash Sikaria, is seeking to engage with external investors to support its growth plans. Since its inception, Supermoney is currently ranked as the fifth-largest UPI applicati ...

Core Insights - Kaia DLT Foundation, led by Dr. Sangmin Seo, is at the forefront of Asia's largest Web3 ecosystem, integrating blockchain technology into everyday applications like KakaoTalk and LINE, reaching over 250 million users [1][2] - The launch of Project Unify, a stablecoin-powered Web3 superapp in collaboration with LINE NEXT, aims to transform Asia's fragmented digital payments landscape [2][4] Company Overview - Dr. Sangmin Seo, also known as Dr. Sam, has a strong technical background and leadership experience, having previously worked with Kakao's blockchain ventures [1] - Kaia was established following the merger of Klaytn and Finschia, becoming one of the first blockchain entities in the Abu Dhabi Global Market [3] Project Unify - Project Unify integrates Kaia's stablecoin orchestration layer into LINE Messenger, creating a comprehensive Web3 superapp that includes payments, DeFi, DEX, and gaming [4][6] - The project aims to consolidate multiple regional stablecoins into a single app experience, facilitating issuance, payments, and yield opportunities across Asia [6] Market Context - Asia is characterized as the world's largest and most fragmented payments market, with approximately 5 billion people and nearly half of global GDP [4] - Digital payments in Asia face challenges due to fragmented regulatory systems and currencies, unlike the more unified networks seen in Europe [5] - Remittance flows to Asia exceed $130 billion annually, with cross-border e-commerce projected to grow by 70% by 2027, and tourism spending expected to increase by 334% in the same period [5]

Stablecoins are becoming the foundation of global finance.With PYUSD0 on Avalanche, digital dollars gain the speed and reliability for real-world payments, cross-border flows, and mainstream adoption. 🔺Avalanche, Where Capital Connects.https://t.co/9LdQ9SnI6cLayerZero (@LayerZero_Core):PayPal built the first global digital payment network at the onset of the internet age. In 2023, they were the first major fintech company to launch a stablecoin with PYUSD.With PYUSD0, PayPal and LayerZero are working to dri ...

Pine Labs, a digital payments provider in India, plans to raise as much as $700 million from an initial public offering in the second half of October, according to people familiar with the matter https://t.co/dFlLNZTdmS ...

Group 1 - The Saudi Central Bank (SAMA) has partnered with Google Pay and Ant International to enhance the digital payment infrastructure in Saudi Arabia, aligning with Vision 2030 objectives [1][2] - The integration of Google Pay with the mada national payment system allows users to manage their mada and digital credit cards through Google Wallet, promoting FinTech usage on smart devices [2][3] - SAMA and Ant International plan to launch cross-border QR code payment capabilities between mada and Alipay+ by 2026, enabling local merchants to accept payments from Alipay+'s international partners [2][3] Group 2 - The initiative is part of the Financial Sector Development Program under Saudi Vision 2030, aiming for 70% non-cash transactions by 2030 and attracting 150 million visitors to stimulate economic growth [3] - Thunes has initiated real-time cross-border payments into Saudi Arabia, allowing instant transfers to Saudi bank accounts and wallets in SAR, enhancing transaction efficiency for individuals and entities [4]

"The growth is much more amplified in the UAE and GCC."Visa's GCC group country manager Saeeda Jaffar tells @joumannatv the digital payments firm is adapting to the shifting spending patterns of affluent cardholders https://t.co/eXE8oMiAqQ https://t.co/vWDm2vZCQK ...

Core Insights - India1 Payments is transitioning leadership and pivoting towards digital services by launching a banking technology arm to counter sluggish ATM growth in India [1][12] - K. Srinivas, the long-time CEO, is stepping back from daily operations but will remain as executive vice-chairman to guide strategy [2][15] - The company operates over 15,000 ATMs, holding a 40% market share among white-label operators and 53% in transactions [4][5] Company Overview - India1 Payments is the largest white-label ATM operator in India, with a significant presence in semi-urban and rural areas [5][10] - The company was established through a partnership with ICICI Venture and has grown significantly since the Reserve Bank of India opened the white-label ATM space in 2013 [6][7] - In FY25, India1 reported revenues of ₹670 crore and profits of ₹35 crore, benefiting from recent policy changes regarding interchange fees [7][8] Market Dynamics - India has approximately 250,000 ATMs, with around 36,000 being white-label machines [5] - The company faces challenges as banks are reducing ATM deployments due to a shift towards digital payments, despite high cash circulation [11] - India1 aims to expand its ATM network to 20,000–25,000 ATMs in the next five years [9] New Initiatives - India1 is launching a fintech arm named Paysis, targeting smaller banks that lack the infrastructure for transaction processing [12][13] - Paysis is already servicing rural co-operative and small finance banks, managing switching and transaction services [14] - The company plans to sign up 200 co-operative banks in the next two years, capitalizing on the vast market of over 90,000 rural banks and co-operative credit institutions [15]

Making a “Crypto Pros” list:1️⃣ We can send money just like emails2️⃣ _______What else belongs on the list? Drop your best one 👇 ...

Summary of the Evolving Landscape of Digital Money and Payments Industry Overview - The report focuses on the evolving landscape of digital payment systems, specifically examining stablecoins, central bank digital currencies (CBDCs), and public fast payment systems [2][5][6]. Key Insights Stablecoins - Stablecoins' market capitalization reached $270 billion in August, but transaction volumes remain small relative to global payments, with retail transactions accounting for only $6 billion, or 0.01% of retail payments [22][25]. - The majority of stablecoin transactions occur in international payment flows, often used for remittances and saving in stable currencies [22][30]. - The market is dominated by two issuers, Tether (USDT) and USD Coin (USDC), with over 95% of stablecoins pegged to the US dollar [23][29]. - Stablecoins provide faster and cheaper settlement than traditional systems, but their adoption is hindered by the need for on/off-ramping to traditional payment rails [13][14]. Central Bank Digital Currencies (CBDCs) - Only three countries have fully launched CBDCs: the Bahamas, Nigeria, and Jamaica, all of which have seen low adoption rates [42]. - Many central banks are researching or piloting CBDCs, but projects in countries like the US have been abandoned due to low take-up and privacy concerns [43][42]. - CBDCs do not typically pay interest and require accounts at commercial banks or payment service providers [46]. Public Fast Payment Systems - Countries like Brazil and Thailand have developed successful public fast payment systems that have quickly become the main form of non-cash payment [44][51]. - Successful systems feature widespread participation from banks and nonbanks, user-friendly interfaces, and low costs for consumers [47][62]. - The adoption of public fast payment systems in developed markets (DMs) is slower due to entrenched card networks, which provide consumers with incentives to remain on existing platforms [56][62]. Additional Important Points - The report highlights the significant network effects in the payments sector, where new technologies struggle to gain traction against established incumbents [20][62]. - The success of new payment methods in emerging markets (EMs) is attributed to less entrenched card networks, which allows for greater financial inclusion [62]. - The report emphasizes the need for new payment methods to be user-friendly, safe, and compatible with existing financial infrastructure to overcome network effects and achieve widespread adoption [62]. Conclusion - The evolving landscape of digital payments presents both opportunities and challenges, with stablecoins, CBDCs, and public fast payment systems each playing distinct roles in the future of financial transactions. The report underscores the importance of addressing network effects and fostering user-friendly solutions to drive adoption in both emerging and developed markets.