Global payments news, briefly.
What happened in payments this week, and why it matters. Free weekly briefing every Monday.
Topics: Cross-border · Domestic & real-time · Cards · Asia-Pacific · Regulation · Deals & funding
Regions: Americas · Europe · Asia-Pacific · Middle East & Africa · Events calendar
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Project Faro banks commit about $270 million to their dollar stablecoin venture, Bloomberg reports
Goldman Sachs, Citigroup, Santander, Deutsche Bank and other Project Faro banks have committed about $270 million to fund their dollar stablecoin issuer for five years.
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This week’s issue
Tencent signs with Mastercard, Block nears a $964 million DOJ deal, and Affirm Card passes $3 billion
Read the issue: Tencent signs with Mastercard, Block nears a $964 million DOJ deal, and Affirm Card passes $3 billionTencent’s TenPay Global signs a Mastercard MoU, Hong Kong FPS links to UnionPay QR, Block discloses a $964 million DOJ agreement in principle, and Affirm Card GMV more than doubles.
Latest news
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NPCI notifies UPI Vyapaar Saksham scheme to pay banks for adding small merchants
NPCI will use 5% of UPI merchant discount rate revenue to pay banks and apps for signing up small merchants and growing their UPI payments.
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Revolut Pay goes live in Uber and Uber Eats across the UK and Europe
Uber and Uber Eats customers in the UK and Europe can now pay from their Revolut accounts with Revolut Pay, approving each payment in the Revolut…
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Western Union terminates its $500 million Intermex deal over California conditions
Western Union terminated its agreement to buy Intermex after California’s DFPI set final approval conditions, and Intermex has rejected the termination.
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Banking Circle Australia launches single-use PayIDs for payment providers
Banking Circle Australia lets payment providers create single-use PayIDs on the New Payments Platform, so each invoice or collection is reconciled as it arrives.
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Coinbase wins final OCC approval for its national trust company
The OCC gave final approval to Coinbase National Trust Company, letting Coinbase run custody, settlement and stablecoin reserve services under federal oversight.
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Visa adds Monad to its stablecoin settlement program for issuers and acquirers
Visa added the Monad blockchain to its stablecoin settlement program, giving participating issuers and acquirers another network for settling with Visa.
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The week in payments, every Monday
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