Latest news with #paymentinnovation
Zawya
3 days ago
- Business
- Zawya
Network International and Blu Penguin collaborate to enable mobile money transactions in Ghana
Network International (Network) ( a leading enabler of digital commerce across the Middle East and Africa, has announced a collaboration with Blu Penguin, a Ghana-based fintech and mobile money aggregator, to provide mobile money transactions via Network's N-Genius™ payment terminals. This collaboration marks a significant milestone in expanding financial inclusion and driving payment innovation across Ghana and the broader West African region. Through this collaboration, Network's clients in Ghana can now process mobile money payments from all providers using their current N-Genius point-of-sale terminals. This development strengthens Network's role as a third-party payment processor (TPP), broadening its service offerings and demonstrating its commitment to adapting to evolving market needs. Chinwe Uzoho, Regional Managing Director, Western Africa – Processing at Network International, stated, 'This partnership with Blu Penguin reinforces our commitment to advancing digital commerce and financial inclusion. By integrating mobile money transaction capabilities into our N-Genius terminals, we are providing a seamless payment experience that caters to the needs of both banked and unbanked individuals, helping businesses and financial institutions offer greater transaction flexibility.' Sebastian Yalley, Managing Director, Ghana – Processing at Network International, added: 'This collaboration represents a significant advancement for Ghana's payments landscape. It enhances our service offerings for banks by combining the strong mobile money processing capabilities of Blu Penguin with our industry-leading card infrastructure to provide a unified app for merchants to deliver secure, accessible, and convenient payment capabilities.' Through this collaboration, Blu Penguin will integrate its technology with Network International's acquiring infrastructure, ensuring a secure and efficient backend for processing mobile money transactions across major telecom networks. With operations in Ghana, Côte d'Ivoire, and DRC Congo, Blu Penguin's mobile-first strategy streamlines transactions, making digital payments more accessible to millions of consumers across the region. Tenu Awoonor, Founder of Blu Penguin, commented, 'This collaboration goes beyond technology integration; it is a strategic effort to improve payment accessibility and convenience for merchants in Africa. By partnering with Network International, we are equipping banks and merchants with the ability to offer multiple payment options in a single app, making transactions more seamless. We get to leverage our respective strengths in a collaborative effort with financial institutions to drive faster adoption and usage of digital payments to support greater financial inclusion in Africa.' The initial phase of the partnership has commenced, and plans are to enable this feature across all financial institutions using Network International's N-Genius™ terminals in Ghana and ultimately Sub-Sahara Africa. Distributed by APO Group on behalf of Network International. About Network International: Network International is the Middle East and Africa's largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have 2,500+ employees based in our markets serving over 250 financial institutions and 196,000+ merchants. About The Blu Penguin: The Blu Penguin Company Limited is a licensed pan-African fintech firm committed to providing digital payment solutions that cater to the diverse evolving needs of small, medium and large sized enterprises. With a vision to drive financial inclusion in Africa, we provide a comprehensive suite of services designed to enhance and simplify both in-store and online payment collection for merchants. We serve banks, telecom companies, merchants and governments to offer payment services to millions of customers every day.
Finextra
5 days ago
- Business
- Finextra
Genome and Huch partner for SEPA payments alerts
Lithuania-based electronic money institution Genome has partnered with HUCH to enable instant detection of incoming SEPA payments. 1 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Payment delays cost businesses revenue, and the speed of payments can never be underestimated, especially in a highly competitive business environment. Genome's partnership with HUCH drives payment innovation forward, offering a game-changing solution for fast-moving companies that eliminates the risk of payment delays. Businesses that utilize the services offered by Genome with HUCH can now confirm incoming clients' transfers immediately. All thanks to the integration of an innovative API and webhooks, which enable instant notifications about client-to-business payments. Genome's instant notification feature was created based on the team's firsthand experiences working with iGaming companies. Real-time payment detection is critical for licensed betting and gambling platforms, where every second counts. This technical innovation enables businesses using the Genome-HUCH integrated solution to receive notifications about deposits as soon as the funds reach their Genome account. In the case of SEPA Instant, this can happen within seconds. It means companies can react to such C2B transactions instantly and streamline account top-ups without worrying about missing a payment. Real-time payment notifications are valuable across a wide range of industries where speed and responsiveness are critical. E-commerce platforms can instantly confirm payments and proceed directly to order processing, thereby improving delivery times and customer satisfaction. Digital service providers, especially those offering subscription-based access, can activate services immediately upon receipt of payments, with no delays and no manual checks. In fast-paced digital environments, the ability to react instantly to client actions, such as purchases, renewals, or deposits, is a key driver of both customer experience and operational efficiency. Industries such as fintech, online marketplaces, and iGaming platforms also benefit from seamless, real-time transaction flows that help ensure uninterrupted user experiences and smooth operations. "Fast-moving businesses like fintech apps, online marketplaces, and digital platforms rely on real-time responsiveness. Our instant payment alerts are designed to automate key processes, eliminate delays, and enhance cash flow visibility. We believe more businesses will adopt such solutions to stay competitive in a landscape where seamless financial experiences are no longer a luxury but an expectation," explained Genome's CEO, Daumantas Barauskas. "The impact of instant payment alerts on businesses is immediate. Businesses are now able to confirm incoming payments instantly, adjust operations in real-time, and offer a smoother customer experience. It's a clear example of how tech partnerships can directly improve performance and decision-making for modern businesses," noted HUCH's CEO, Quentin Madelaine. ________________________________________
Forbes
24-06-2025
- Business
- Forbes
How Card Networks Plan To Navigate An Evolving World
Capital One completed its acquisition of Discover last month, what does the future hold for Card ... More Networks? In a striking shift that could redefine the financial landscape, Capital One completed its acquisition of Discover last month, marking one of the boldest moves in the credit card industry in recent memory. But with evolving payment habits and emerging technologies challenging traditional card networks, this transaction raises critical questions about the future of payment rails. To explore this evolution, I recently met with two leaders deeply embedded in the heart of the card network ecosystem: Bunita Sawhney, Chief Consumer Product Officer at Mastercard, and Judith McGuire, Senior Vice President of Products at Discover. Bunita Sawhney, Chief Consumer Product Officer at Mastercard Adapting to Changing Consumer Preferences Both executives were clear that the payment landscape is rapidly evolving, driven by technology and consumer expectations. Bunita Sawhney emphasized innovation. "It's a really wonderful time to be innovating in the network space," Sawhney explained. "At Mastercard, we talk about keeping up with the speed of life. Payments are part of everyday needs, whether I'm a merchant accepting payments or a consumer needing a seamless way to pay." "The payment industry has been evolving very rapidly, especially coming out of the pandemic," Judith McGuire noted similarly. "Our job as a network is to keep up with consumers, how they want to pay and where they want to pay." McGuire pointed out key innovations, including open-loop transit systems and electric vehicle charging payments, illustrating how Discover continually adapts its strategy to match evolving consumer needs. Judith McGuire, Senior Vice President of Products at Discover. AI and Tokenization: Reinventing Trust One clear takeaway from our discussion was the pivotal role of AI and tokenization in securing and streamlining transactions. Both Mastercard and Discover are leveraging these technologies to enhance consumer trust and transaction efficiency. Sawhney highlighted Mastercard's recent innovation, "Mastercard Agent Pay," which leverages generative AI to anticipate consumer preferences. "Our use of agentic tokens is infusing trusted information securely into a number of different use cases, from improving travel experiences to dispute resolutions," Sawhney added. This use of AI underscores Mastercard's strategic shift toward becoming more integrated into consumers' daily routines. Judith McGuire echoed the importance of tokenization as one of the most significant recent innovations in payments. "Tokens replace your card number with random digits, protecting your information from theft," McGuire explained. Beyond security, tokenization ensures higher transaction approval rates and simplifies credential updates, creating a seamless user experience. This, she argued, fundamentally enhances consumer trust and reliability in digital transactions. Emerging Challenges: Fintech and Tech Giants Yet, the rise of fintech and tech giants entering the payment space presents an existential challenge for traditional card networks. Fintechs are trying to bypass networks by enabling bank-to-bank or peer-to-peer payments. Sawhney, however, sees collaboration rather than competition as the future. "Mastercard is built on partnerships. We add and create value with our partners, which earns us the right to participate," she asserted. Mastercard has strategically invested in domestic infrastructure and account-to-account payment systems globally, positioning itself not just as a network, but as an indispensable partner in the financial ecosystem. McGuire shares this partnership-driven perspective. "We see ourselves as payment rails, facilitating seamless payments behind the scenes," she explained. "Our role is to support fintechs by providing fast settlements, authorization, and fraud mitigation tools." Tech giants like Apple, with products like Apple Pay, further complicate the landscape. Sawhney positioned such relationships as mutually beneficial. "When we collaborate with big tech, like Apple, we create better consumer experiences," she noted, highlighting Mastercard's focus on technologies like tokenization and payment passkeys to protect consumer data. The Regulatory and Geopolitical Hurdles A less obvious but critically impactful challenge for global card networks is the rising trend of economic nationalism, with regions like Europe aiming for payment independence. "Every country needs to think about its specific needs," Sawhney emphasized, pointing out Mastercard's partnerships with local schemes such as Giro in Germany. These collaborations combine local relevancy with Mastercard's global scale and technological capabilities, providing a compelling response to rising nationalistic trends. McGuire underscored Discover's approach to similar geopolitical challenges, describing strategic alliances with local networks. "We partner with local schemes. Local traffic remains domestic, but when cardholders travel internationally, Discover provides the infrastructure," she explained. Such alliances are pivotal as global networks navigate an increasingly fragmented global market. Blockchain: The Long-term Game Changer? Perhaps the most debated and controversial future trend is blockchain technology. Will it ever become mainstream in payments? McGuire voiced cautious optimism. "Near-term blockchain use cases, such as cross-border remittances and business-to-business payments, show clear potential," she argued. However, she acknowledged significant regulatory hurdles and consumer behavior inertia, stressing that mainstream adoption hinges on establishing clear consumer protections and robust regulatory frameworks. Sawhney expressed a more bullish perspective on stablecoins and blockchain. "Blockchain and stablecoin absolutely have the opportunity to become mainstream," she insisted. "Consumers might want to pay with stablecoin, and Mastercard can connect them with merchants who aren't ready yet to settle in crypto." Mastercard's existing partnerships with Nuvei, MetaMask and Kraken illustrate its forward-looking embrace of crypto infrastructure. The Verdict: Adaptation Is Key The acquisition of Discover by Capital One may symbolize an industry consolidation driven by the growing imperative for adaptability. For card networks to survive, innovation, partnerships, and regulatory agility will be critical. As Bunita Sawhney succinctly summarized, "We must meet consumers where they are and anticipate where they're going next." With rapid changes ahead, companies that master this anticipatory adaptation will not only survive but thrive. Ultimately, Capital One's strategic move may signify not the end, but rather a bold new chapter for card networks in a digital-first financial world. For more like this on Forbes, 3 No-Code AI Tools Changing How Financial Institutions Innovate and The Legacy Banks Quietly Building The Future Of Finance.
Arabian Business
28-05-2025
- Business
- Arabian Business
Worldpay sees surge in real-time payments and digital wallets as regulatory reforms reshape UAE landscape
The UAE's payments landscape is undergoing a major shift, fuelled by regulatory reforms like the UAE's cashless society vision a growing consumer preference for contactless payments, digital wallets, and the rise of real-time payment capabilities, according to Worldpay, a global payments company that processes over 50 billion transactions a year, enabling domestic and international merchants enabling seamless, secure and compliant payment experiences . Speaking to Arabian Business on the sidelines of Seamless Middle East 2025, Tausif Ahmed, Merchant Country Leader for MENA at Worldpay, said the country's recent changes to allow non-bank acquiring have positioned it as a regional frontrunner in payment innovation. 'The UAE Central Bank's decision to license non-bank acquirers marked a turning point,' Ahmed said. 'It allowed international players like Worldpay to enter the market and bring in global best practices, an end-to-end proven solution, and access to advanced payment technologies.' He added Worldpay sees the UAE and broader GCC as a high-growth region, with growing cross-border trade, digital commerce, and demand for embedded finance products. Digital wallets take the lead, super apps accelerate usage Digital wallets are rapidly becoming the preferred method of payment for consumers in the UAE. Worldpay data shows that in 2024, 30 per cent of consumer transactions in the country were made through digital wallets—a number expected to reach 40 per cent by 2030. 'Digital wallets and super apps are not just changing how people pay; they're also reshaping expectations around convenience and user experience,' Ahmed said. 'Consumers now expect fast, seamless payments whether they're booking a ride, ordering food, or paying bills.' He also pointed to the growing popularity of apps like Careem and Talabat, which bundle payments with everyday services, as examples of how digital integration is influencing customer behaviour. Regulatory compliance and AML need to be part of the DNA While the payments space is evolving rapidly, there needs to be continuous awareness and implementations of all regulatory compliance, AML and risk systems and processes. 'We view compliance not as a cost, but as an investment in sustainable business'. Ahmed said. Worldpay also supports local merchants expanding overseas by helping them adapt to local regulations in target markets, while enabling global brands entering the region to localise their payment offerings. Worldpay is seeing growing demand for payment orchestration—a model where businesses use multiple payment processors through a unified platform. Real-time payouts address gig economy and remittances A major focus for Worldpay is the rollout of real-time payout capabilities in the UAE, powered by Visa Direct and Mastercard Send. Some of the use-case are insurance payouts , gig economy platforms, and cross-border remittances. 'Instant access to funds is becoming a default expectation, especially in the gig economy and for businesses that need to disburse funds quickly,' Ahmed said. AI, data and fraud prevention take centre stage In a move to strengthen its risk management capabilities, Worldpay recently acquired Ravelin, an AI-based fraud prevention company. Ahmed said this helps the company offer merchants stronger fraud mitigation and compliance tools. 'Payments are bloodstream of every business and beyond transactions, shaping customer experiences, data strategy and growth,' he said. 'We give merchants data insights that help them boost authorisation rates, payments performance, customer behaviour, transaction declines, and streamline reconciliation.' Payment orchestration sees growing demand from enterprise merchants Ahmed said Worldpay is seeing growing demand for payment orchestration—a model where businesses use multiple payment processors through a unified platform. 'Orchestration is no longer a niche concept. It's becoming the standard, especially for enterprise merchants operating with multiple PSPs and regions,' he said. 'They want redundancy, flexibility, and the ability to optimise performance by routing payments through the most effective channels.' Expanding operations in the UAE Over the past year, Worldpay has expanded its merchant portfolio in the UAE beyond traditional sectors, airlines and travel to include OTAs, financial services, including trading and insurance, digital platforms, mobility firms, education and healthcare. The company is also relocating to a new office in Dubai Internet City to support its growing local team. Looking ahead, Ahmed said the company is focused on real-time payments, embedded finance, and supporting the region's role in cross-border payment innovation. 'Dubai is becoming a global headquarters for many businesses,' he said. 'As payment infrastructure matures, you'll find Worldpay at the heart of great commerce experiences helping our customers become more efficient, more secure, and more successful.'
Zawya
22-05-2025
- Business
- Zawya
Visa names new country manager for Oman
Visa has announced the appointment of Nasser Bdeir as Country Manager for Oman, effective May 25. He is based out of Visa's Riyadh office, the company's regional headquarters for Saudi Arabia, Oman, and Bahrain. Nasser succeeds Manish Gautam, who was in the role since 2019 and has now transitioned to Visa's regional HQ in Riyadh to manage Visa Commercial Solutions—one of Visa's strategically important businesses across Saudi Arabia, Bahrain, and Oman. With Visa since 2013, Nasser assumes his new role after leading key markets and functions in the GCC, including Head of Financial Institutions and managing leading banks, driving growth and innovation for merchants and fintechs, and market development. Before Visa, Nasser spent 5 years with Banque Saudi Fransi. Bdeir said, 'I am thrilled to have the opportunity to lead our operations in an exciting market such as Oman. I am looking forward to working closely with our clients to introduce new payment innovations that benefit Omani consumers and businesses. We are deeply committed to supporting the Oman government's cashless agenda and creating an inclusive, resilient digital economy where everyone, everywhere in Oman can participate and be empowered by the benefits digital commerce offers.' Oman has established a progressive regulatory framework to enable the growth of the Sultanate's digital economy. Despite progress with the economy's digital transformation, around 25% of Oman consumer transactions are still in cash, according to Visa's recent Where Cash Hides research. For Visa, this represents an opportunity for the Oman payments industry to further drive financial inclusion and digitize commerce in the Sultanate. Visa is committed to the government's cashless agenda by continuing to support its partner banks and new entrants with its payment innovations as well as its global network of 4.6 billion cardholders and more than 150 million merchant partners. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
