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BIS to leave cross-border payments platform project mBridge
Date: October 31, 2024
(Reuters) – The Bank for International Settlements is leaving the cross-border payments platform Project mBridge, which can be taken forward by the central banks behind it, BIS General Manager Agustin Carstens said on Thursday. Project mBridge, a collaboration launched in 2021 between the BIS and the central banks of China, Hong Kong, Thailand and the...
Worldline meets Q3 revenue estimates on merchant services strength
Date: October 31, 2024
By Gianluca Lo Nostro (Reuters) -French digital payments company Worldline reported on Wednesday third-quarter revenue broadly in line with analyst expectations, as a resilient performance in its merchant services business offset the termination of some contracts. Revenue in the third quarter of the year fell 1.1% organically year-on-year to 1.16 billion euros ($1.3 billion), in...
SNB developing new banknote series as sees cash here to stay
Date: October 30, 2024
By John Revill BERN (Reuters) -The Swiss National Bank will develop a new banknote series, the central bank said on Wednesday, underscoring the country’s love affair with physical money despite the rise of mobile payment apps and cashless payments. Around one in three payments in Switzerland is made with cash, the SNB said, adding it...
PayPal’s revenue forecast fails to impress as profit push puts growth behind
Date: October 29, 2024
By Niket Nishant and Manya Saini (Reuters) -PayPal forecast fourth-quarter revenue below estimates on Tuesday as the digital payments company shifts its focus from aggressive growth to high-margin businesses, sending its shares down 5%. Efficiency became a priority for the company under CEO Alex Chriss, who since taking the helm last year has been pushing...
HSBC joins china’s payment system in boost to yuan usage
Date: October 25, 2024
By Selena Li HONG KONG (Reuters) – HSBC’s Hong Kong unit has joined China’s worldwide interbank renminbi payment system (CIPS) as a direct offshore participant, according to a company statement. Beijing is pushing to internationalise the yuan, which ranks fourth in global payments according to the global bank messaging network SWIFT, and challenge the U.S....
Almond FinTech announces Q4 awards and trade shows
Date: October 24, 2024
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