Fintech
Catch the latest developments of the week
FinTechs continue to play a critical role in transforming and reshaping the traditional contours of the financial sector. As technology is increasingly intertwined with financial services, FinTech innovations are not merely incremental but rather revolutionary, paving the way for greater efficiency, accessibility and new business models.
This week’s FinTech Focus features a curated selection of the most significant developments that highlight the dynamic nature of this sector.
“Another first with our close partners at HSBC Middle East, jointly announcing our new commercial card platform, the Mastercard Wholesale Travel Program. HSBC will deploy the Mastercard Wholesale Program (MWP), a virtual card-based B2B payment product, for the first time in the Middle East to its travel industry clients to promote secure, simplified and automated B2B travel transactions.”
“Western Union and Tenpay Global expand their collaboration to enable users around the world to send international money transfers from Western Union’s digital channels directly to Weixin Pay wallets and linked bank accounts. By combining Weixin’s large user base and Western Union’s global reach, the collaboration represents a step forward in making financial services accessible to all.”
“We are excited to announce a collaboration with Mastercard to accelerate the deployment and delivery of Mastercard Move, Mastercard’s portfolio of money transfer capabilities, to banks and their customers.”
“We are proud to announce that Airtel Africa has chosen us as their payment processor! The network will provide expertise and technical support for transaction processing, card hosting and management, online fraud prevention management, API sandboxing and more. Honored by the trust and opportunity to support the growth of one of the largest telecommunications operators in Africa.”
“Finastra’s experience in cloud-first implementations and supporting new digital banks in this region is second to none. We knew that working together would result in a wonderful partnership that helped us bring our vision of a different kind of bank to life.” – Mike Kayamori, CEO of ORO Bank.
Read also: IBSi FinTech Journal March 2024 Edition