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Govt Eyes Bringing PayPal and Creating Other Payment Methods to Enhance IT Export Remittances. Federal Minister for Finance and Revenue Muhammad Aurangzeb chaired a high-level meeting of the Prime Minister’s Committee on IT Export Remittances at the Finance Division today to explore ways for boosting the flow of IT export remittances, which are crucial for Pakistan’s economic growth and digital economy. Participants explored leveraging the Roshan Digital Account to facilitate international remittances for IT companies and freelancers. The discussion stressed the urgent need for access to global payment gateways like PayPal and the creation of similar payment solutions at home to empower IT professionals and freelancers and enhance Pakistan’s gl https://lnkd.in/dYBhtKih

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Qonto Chooses Wise for International Payments Read the full story here: 👇  https://lnkd.in/efjWZqCD #banking #payments #internationaltransfers #lowerfees #fintechboostup

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Open Finance Revolutionizing GCC Cross-Border Payments! Did you know sending money between GCC countries can be a hassle? Long waits, hidden fees - it's not ideal. But there's good news! Open finance is on the rise in the GCC, and it's set to transform cross-border payments for the better! Here's how: Seamless Transfers: Imagine sending money from Bahrain to your friend in Dubai as easily as paying for lunch. Open finance allows banks and fintechs to collaborate, creating a network for secure and instant transfers across borders. Goodbye Hidden Fees! Open finance promotes transparency, allowing you to see all fees upfront. No more nasty surprises when your money finally arrives! Innovation is Key! Open finance fosters a breeding ground for fintechs to develop new and exciting payment solutions. Think same-day settlements, multi-currency transactions, and more AFAQ Paves the Way: The Gulf Payments Company's AFAQ regional payment system is already a game-change! Connecting GCC countries' real-time gross settlement systems, it enables faster and more efficient cross-border transactions. This is a big step towards a truly integrated GCC financial market! Looking Ahead: With countries like the Bahrain 🇧🇭 and UAE 🇦🇪 actively implementing Open Finance initiatives, the future of GCC cross-border payments is bright! Imagine a world where sending money across borders is as simple and convenient as sending a message. What are your thoughts on Open Finance? Let's discuss in the comments! #GCCFinance #OpenFinance #CrossBorderPayments

Cashfree Payments, a leading provider of banking solutions and payment services, has proudly announced receiving approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB). This milestone positions Cashfree Payments as one of the first non-banking entities to obtain this license, underscoring the company's dedication to expanding its payment services internationally. In an official statement, a spokesperson from Cashfree Payments emphasized the strategic significance of this approval: “With the Payment Aggregator-Cross Border (PA-CB) license, we are now uniquely equipped to support global businesses and regulated entities in collecting payments within India. This license also allows us to offer comprehensive cross-border payment solutions to Indian exporters and freelancers.” The RBI defines PA-CBs as entities that facilitate cross-border payment transactions for the import and export of permissible goods and services online. The regulator categorizes PA-CBs into three types: Export only (PA-CB-E), Import only (PA-CB-I), and both Export and Import (PA-CB-E&I). Cashfree Payments has been authorized to operate as a PA-CB-E&I, allowing it to manage both export and import payment transactions. This regulatory approval comes nearly a year after the RBI issued a circular to enhance the framework for cross-border payment facilitations. In October 2023, the RBI established minimum net worth requirements for non-banks to operate as PA-CBs, mandating a minimum net worth of Rs 15 crore at the time of application and Rs 25 crore by March 31, 2026. New non-banking entities must reach a minimum net worth of Rs 25 crore by the end of the third financial year following the grant of authorization. With this approval, Cashfree Payments is set to make significant strides in the global payment landscape, furthering its mission to deliver seamless and efficient payment solutions across borders. #CashfreePayments #FinTech #RBIApproval #PaymentAggregator #CrossBorderPayments #GlobalBusiness #PaymentSolutions #RegulatoryMilestone #PaymentServices #InternationalPayments #ExportImport #FinancialRegulation #PaymentIndustry #BusinessExpansion #AllBoutCorps

Launching the hitchhiker's guide to international payments 🌍 💸 Rakshit Bansal just wrote an awesome guide for Indian online businesses and freelancers who are looking to accept international payments from US, EU and other countries. 🚀🚀 Please check it out and share it with anyone who may need it! And leave a comment on the medium article. https://lnkd.in/gfHqry5B

I'm excited to see how these cross-border synergies will shape the next wave of fintech innovation. The future of finance is borderless, and this is just the beginning. 👍🇲🇾🇮🇳💪 #crossborder #paynet #upi #digitalpayments

🚨 Are You Overpaying on International Transfers? A recent survey reveals that 62% of SMEs are losing up to $850 extra per $20,000 transferred internationally by using big banks. That's a huge hit to your bottom line! 💸 Why continue to overpay when there's a better option? Airwallex offers lower fees and better exchange rates, helping you save significantly on international transfers. 🔹 88% of SMEs know their fees but still stick with costly banks. 🔹Larger businesses (74%) are even more likely to use big banks. 💡 Solution: Optimize your international payments and keep more of your hard-earned money - switch to Airwallex integrate with Xero and start saving today! #SMB #Airwallex #Xero #InternationalPayments #SaveMoney #BusinessGrowth https://buff.ly/3ZHlY02