The 5-minute briefing for payments professionals who need to know what happened, what it means, and what to do about it — before their 9am.
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Story 01
The Royal Bank of Canada and the Bank of Montreal are exploring the sale of Moneris, a key player in Canada's payment processing sector, valued at around $2 billion. Moneris processes one-third of all business transactions in Canada, making this potential sale a pivotal moment for the Canadian payments industry.
Mastercard and UAE-based fintech Zand have teamed up to launch a new cross-border payments solution, aiming to enhance transaction speed and efficiency in the Middle East. This strategic partnership addresses the increasing demand for robust financial connectivity and could set a benchmark in the region's payment solutions.
Source:Payoneer is leveraging Citi’s blockchain technology to offer real-time, 24/7 intracompany money transfers, marking a significant step forward in the use of blockchain for secure and efficient corporate financial transactions. This move could influence how companies globally manage their internal funds.
Source:In a notable endorsement of cryptocurrency's potential in mainstream finance, PayPal Ventures and Circle Ventures have invested in Mesh, a crypto payments network, bringing its total funding to over $130 million. This investment reflects a growing confidence in crypto as a viable payment solution.
Source:The New York Attorney General has sued the operator of Zelle, highlighting significant fraud losses and raising questions about consumer protection on digital payment platforms. This lawsuit could lead to tighter regulations and operational changes within peer-to-peer payment services.
Source:“Did you know that Moneris processes one out of every three business transactions in Canada? This makes it a cornerstone of the Canadian economy.
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