Conventus Law’s Post

Fintech is undeniably revolutionising the global payments landscape, offering faster, more efficient ways to move money across borders. However, not all companies in the sector adhere to the rigorous standards required to truly protect your financial assets. While these innovations are exciting, they come with some potential pitfalls. Some businesses may lack the proper regulatory licenses, leaving them unqualified to handle large transactions securely. Weak governance structures within these companies can lead to operational inefficiencies or even legal issues, while associations with questionable banking partners might expose your funds to unnecessary risks. In our latest Thought Leadership article below, Papaya Global discuss the most common red flags to look out for in fintech. https://lnkd.in/ePTVHqND #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Hey Fintech Fans, welcome to this edition of Fintech Wrap Up! 🔸 To kick things off, Asia-Pacific is leading the charge in payment interoperability, with a focus on enhancing cross-border QR code payments. This regional collaboration is laying the groundwork for a global shift towards seamless digital wallet usage, thanks in part to strong public-private partnerships. 🔸 On the cross-border payments front, the market is massive, with a staggering $146 trillion in transactions last year alone. While B2B transactions continue to dominate, there’s still plenty of room for growth in the C2C and B2C segments, especially as new entrants challenge traditional banks with faster and more transparent services. 🔸 We’re also seeing significant strides in the digital identity space, with digital wallets becoming a key enabler for both identity and payment solutions. The market for digital identity solutions is projected to skyrocket, potentially hitting $116 billion by 2030, reflecting the increasing integration of identity features within digital wallets. 🔸 Meanwhile, in Europe, SEPA continues to play a crucial role in the eurozone’s payment infrastructure. For those considering participation, understanding the difference between direct and indirect participation models is key, especially given the complexities around ECB account requirements. 🔸 On the topic of A2A payment services, their adoption hinges not just on innovation but on addressing consumer needs across functional, emotional, and social dimensions. Successful examples like Swish and Pix show the importance of meeting these needs to drive widespread adoption. 🔸 Lastly, compliance in the Banking-as-a-Service (BaaS) space is becoming more critical as regulatory scrutiny intensifies. Fintechs need to be prepared, not just with robust compliance systems but also with clear business models and proactive monitoring to stay ahead. 🔸 In the news, Tencent has sold its stake in the British challenger bank Tide, marking a retreat from its international investments, while fintech startup Tally has shut down after running out of cash despite raising $172M. On a brighter note, Wise is resuming customer sign-ups in India, eyeing the lucrative $32 billion remittance market. That’s it for this edition. Stay tuned for more insights and updates in the world of fintech! 👉 Read the full edition here https://shorturl.at/IzD5v #fintech #payments #embeddedfinance

What’s hampering the adoption of account-to-account (A2A) payments in Japan? Legacy infrastructure, regulatory constraints, and a highly fragmented payments landscape. Dive into this Elevandi x Kapronasia report on how A2A payments could rearchitect Japan’s financial ecosystem 🔍 https://lnkd.in/eUdUUw22 #FutureMatters | Monetary Authority of Singapore (MAS) | Sam Pemberton Ahmed | Miki Kuzuha | Anubhav Sharma | Paul Chapman | Japan FinTech Festival | Zennon Kapron

‘Traditional payment methods are gradually giving way to more digital alternatives’ in Asia according to Fintech News Singapore, propelled by advancements in #fintech, an increasingly digital native population, and ‘safety and hygiene concerns driving consumers away from cash transactions.’ Our digital #paymentsolutions are part of the new era of innovation, efficiency, and convenience that is dawning in Asia. #RC365 #RCGH #RCPAY #investors Learn more here: https://bit.ly/3MemKdh Learn more about RC365 here: https://bit.ly/3Wojxxy

Check out the full article from our CEO to discover market trends and the evolving regional landscape regarding payment innovation opportunities in MENA.

🔎 2024 brings transformative trends in European A2A payments - instant payments, digital wallets and regulatory shifts. EPI's #wero launch is set to lead the way, promising enhanced commerce experiences. Overcoming existing inefficiencies, A2A payments aim for seamless, secure and transparent financial transactions, shaping a more inclusive financial ecosystem. Ludovic Francesconi and Fabian Mansfeld from EPI Company discuss key trends shaping A2A payments in #Europe, in the report "Global Payments and Fintech Trends Report 2024" from The Paypers. 👉 Don't miss 🆕 insights into the future of European payments, download the report here ⤵ https://lnkd.in/e9BvY3iR

Cross-border payments are evolving rapidly, and the balance between innovation, regulation, and collaboration has never been more crucial. This insightful article explores how fintech, regulators, and banks are working together to shape the future of cross-border payments. With increasing demand for seamless, secure, and cost-efficient solutions, it's vital to stay informed on how these developments will affect global transactions. 🔗 Read more about how the industry is navigating these challenges and opportunities here: https://lnkd.in/dzBG9zxs #CrossBorderPayments #Fintech #Regulation #Innovation #Collaboration #GlobalFinance #DigitalEconomy #SECDEX GMEX Group

The tantalizing vision for global payments has long been that they’d be safe, simple, quick, inexpensive, and ubiquitous. This promise has come closer with each new technological advance. However, instant payments have ushered in the Decoupled Era, a term coined in last year’s Global Payments Report. In this environment, payments are becoming disconnected from accounts, […] www.Cyprus-CEO.com https://lnkd.in/dnerNsXb #CEO #business #management #marketing #tech #AI #legal #money Cyprus CEO

The tantalizing vision for global payments has long been that they’d be safe, simple, quick, inexpensive, and ubiquitous. This promise has come closer with each new technological advance. However, instant payments have ushered in the Decoupled Era, a term coined in last year’s Global Payments Report. In this environment, payments are becoming disconnected from accounts, […] www.Cyprus-CEO.com https://lnkd.in/dnerNsXb #CEO #business #management #marketing #tech #AI #legal #money Cyprus CEO

How do Payment Apps interact with Banks in India and China? India's UPI (Unified Payments Interface) 🇮🇳 V.S China's NUCC (NetsUnion Clearing Corporation) 🇨🇳 Both are nationwide efforts to streamline third-party payments, which means payment apps don’t need to handle the complexity of connecting to banks. Some differences are: ► UPI = payment markup language + standard for interoperable payments, while NUCC (NetsUnion Clearing Corporation) is a clearing system among banks. So UPI covers the whole workflow, but NUCC handles transaction clearing and settlements. ► UPI builds a digital payments ecosystem with payment apps, banks, and NPCI (National Payments Corporation of India). NUCC saves each payment app the effort of connecting to each bank separately. ► UPI adopts a mobile-first design, each account is given a VPA (Virtual Payment Address), while NUCC doesn’t have such a setup. How does this compare to Instant Payment Systems in the UAE and Arabia? #StayTuned Source: Hua Li (Some of the best FinTech explanations come from here)