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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Royal Bank of Canada and Bank of Montreal are exploring the sale of their joint venture, Moneris, potentially valued at $2 billion. This strategic shift could reshape the payments landscape in North America, signaling a major realignment in how traditional banks view their stakes in payment processing.
Citigroup is set to offer stablecoin payments and custody services, spurred by recent US legislation. This move underscores a pivotal shift for traditional banks into the realm of cryptocurrency, reflecting the increasing fusion of crypto solutions with mainstream financial services.
Source:PayPal Ventures and Coinbase Ventures have invested in Mesh, a crypto payments network, boosting its funding to over $130 million. This investment highlights the confidence major fintech players have in the future of blockchain-based payment systems.
Source:Routable has incorporated the FedNow Service into its payment platform, enabling instant transactions to 85% of US bank accounts. This integration marks a significant advancement in payment efficiencies, catering to the growing demand for immediate financial transactions in business operations.
Source:Swedish fintech giant Klarna faced a net loss in Q2 during its push into the US market and ahead of its New York listing. Despite the setback, this move highlights Klarna's strategic ambitions to dominate the global fintech scene, underscoring its long-term vision.
Source:“Did you know that the first mobile payment systems were introduced in 1997, allowing users to pay for vending machine snacks via SMS?
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