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👉👉👉 Unlimit Jumps into Indian Payments Arena, Clinches #RBI Approval
Unlimit, a leading global fintech firm, has announced its venture into the Indian market, accompanied by the acquisition of its Reserve Bank of India (RBI) Online Payment Aggregator license. This milestone grants Unlimit the official authorization to operate as a payment service provider in the region.
Expanding Payment Services with the License
- With this license in hand, Unlimit is poised to offer a wide array of #payment services and solutions, aimed at aiding local businesses in broadening their customer base. The timing of Unlimit's entry into the Indian market aligns with the significant growth witnessed in digital commerce across the country.
According to projections by Statista, digital commerce is forecasted to emerge as the largest segment within India's electronic payments industry in 2024, with an estimated total transaction value of US$211.30 billion. Moreover, the total value of digital payments transactions in the region is expected to surge to US$254.60 billion by 2024 and further to US$394.40 billion by 2028, showcasing an annual growth rate of 11.56%.
In parallel developments, Revolut India has secured an in-principle authorization from the RBI to issue Prepaid Payment Instruments, expanding its existing permissions to function as an Authorized Dealer Category II (ADII), as reported by Finance Magnates.
The attainment of the RBI license closely follows Unlimit's acquisition of its Bank of Tanzania license, marking its expansion efforts into the African region.
Asheesh Agrawal, CEO of Unlimit India, expressed excitement about the company's debut in India, highlighting it as a strategic step in their global expansion plans. Obtaining the RBI Online Payment Aggregator license is a significant milestone, allowing them to offer comprehensive payment solutions and contribute to the local digital payments ecosystem.
Source - financemagnates.com
#BinanceSquareTalks
Unlimit, a leading global fintech firm, has announced its venture into the Indian market, accompanied by the acquisition of its Reserve Bank of India (RBI) Online Payment Aggregator license. This milestone grants Unlimit the official authorization to operate as a payment service provider in the region.
Expanding Payment Services with the License
- With this license in hand, Unlimit is poised to offer a wide array of #payment services and solutions, aimed at aiding local businesses in broadening their customer base. The timing of Unlimit's entry into the Indian market aligns with the significant growth witnessed in digital commerce across the country.
According to projections by Statista, digital commerce is forecasted to emerge as the largest segment within India's electronic payments industry in 2024, with an estimated total transaction value of US$211.30 billion. Moreover, the total value of digital payments transactions in the region is expected to surge to US$254.60 billion by 2024 and further to US$394.40 billion by 2028, showcasing an annual growth rate of 11.56%.
In parallel developments, Revolut India has secured an in-principle authorization from the RBI to issue Prepaid Payment Instruments, expanding its existing permissions to function as an Authorized Dealer Category II (ADII), as reported by Finance Magnates.
The attainment of the RBI license closely follows Unlimit's acquisition of its Bank of Tanzania license, marking its expansion efforts into the African region.
Asheesh Agrawal, CEO of Unlimit India, expressed excitement about the company's debut in India, highlighting it as a strategic step in their global expansion plans. Obtaining the RBI Online Payment Aggregator license is a significant milestone, allowing them to offer comprehensive payment solutions and contribute to the local digital payments ecosystem.
Source - financemagnates.com
#BinanceSquareTalks
PayPal's PYUSD stablecoin supply has grown by 90% after it expanded to the Solana blockchain in May, with its market capitalization surpassing the $500 million mark as of July 8. According to DeFillama data, PYUSD's total supply on Solana and Ethereum has reached approximately $520 million on July 8. A breakdown of its supply across the two chains shows that $399 million, representing 77% of the total supply, is on Ethereum, while $118.65 million, equivalent to 23% of its supply, is on Solana. However, further analysis of the data shows that its adoption on the Solana network is rising, with the supply on the network rising roughly 58% during the past week. In contrast, PYUSD supply on Ethereum dropped 6% during the same period. Unsurprisingly, the increased supply and improved adoption also boosted its trading volume. Data from Visa and blockchain analytics platform Allium Labs shows PYUSD's weekly transaction volume exceeded $500 million at the end of last month, up from previous averages of around $150 million. This rapid growth prompted Solana developer Paul Fidika to describe PYUSD as a "sleeper hit on Solana" because it bolsters the blockchain network "as a legit financial alternative".
Market observers noted that PYUSD's integration with leading Solana-based DeFi protocols is helping it build an ecosystem on the blockchain network. Solana has one of the largest thriving DeFi ecosystems, with the total value of assets locked on it ranking among the top five in the industry, according to DeFillama data. The stablecoin is available on major Solana-based DEXS Jupiter and Orca, which are reportedly introducing new products designed to encourage its use. Furthermore, the stablecoin has also been integrated into Solana's largest lending and liquidity protocol, Kamino Finance. Tom Wan, an analyst at 21 shares, pointed out that the DeFi platform offers a 23% annual percentage yield (APY) on PYUSD, which has proven attractive to investors seeking yield opportunities.
#money #sol #payment #btc
Market observers noted that PYUSD's integration with leading Solana-based DeFi protocols is helping it build an ecosystem on the blockchain network. Solana has one of the largest thriving DeFi ecosystems, with the total value of assets locked on it ranking among the top five in the industry, according to DeFillama data. The stablecoin is available on major Solana-based DEXS Jupiter and Orca, which are reportedly introducing new products designed to encourage its use. Furthermore, the stablecoin has also been integrated into Solana's largest lending and liquidity protocol, Kamino Finance. Tom Wan, an analyst at 21 shares, pointed out that the DeFi platform offers a 23% annual percentage yield (APY) on PYUSD, which has proven attractive to investors seeking yield opportunities.
#money #sol #payment #btc
Why did #Satoshi come up with the #Bitcoin concept in the first place? What kind of problems was he trying to solve? What has been the most important factor in Bitcoin's global adoption?
Satoshi's #WhitePaper offered the world a solution to a question that had not been answered by the traditional banking system we use today, which is, "how do you transfer value between two people without a trusted intermediary in the middle?"
Satoshi stated that "what is needed is an electronic #payment system, based on #crypto evidence rather than trust, that allows two willing parties to transact directly with each other."
Bitcoin allows two people to exchange value through a blockchain system in a more efficient, open and secure way.
Satoshi's #WhitePaper offered the world a solution to a question that had not been answered by the traditional banking system we use today, which is, "how do you transfer value between two people without a trusted intermediary in the middle?"
Satoshi stated that "what is needed is an electronic #payment system, based on #crypto evidence rather than trust, that allows two willing parties to transact directly with each other."
Bitcoin allows two people to exchange value through a blockchain system in a more efficient, open and secure way.
Is dtcpay Transforming Payments in Singapore with Crypto? 🏦
Singapore-based #dtcpay is launching a groundbreaking payment system using fiat and cryptocurrencies for both in-store and online transactions.
Partnering with PlatON for privacy-protected digital infrastructure and Allinpay International for smart terminals, dtcpay aims to cater to modern #payment trends.
Registered with the Monetary Authority of Singapore (#MAS ), the company will exchange fiat and crypto, expanding its service offerings.
Already providing point-of-sale and online checkout, dtcpay's recent collaborations include Know Your Customer services with Sumsub and a partnership with Jeripay for crypto payments on its 8,000-terminal network.
#Binance
#crypto2023
Singapore-based #dtcpay is launching a groundbreaking payment system using fiat and cryptocurrencies for both in-store and online transactions.
Partnering with PlatON for privacy-protected digital infrastructure and Allinpay International for smart terminals, dtcpay aims to cater to modern #payment trends.
Registered with the Monetary Authority of Singapore (#MAS ), the company will exchange fiat and crypto, expanding its service offerings.
Already providing point-of-sale and online checkout, dtcpay's recent collaborations include Know Your Customer services with Sumsub and a partnership with Jeripay for crypto payments on its 8,000-terminal network.
#Binance
#crypto2023
Fintech Flutterwave of Nigeria Obtains Two Licenses From Rwandan Central Bank
Nigerian fintech giant, Flutterwave, has recently announced that it has obtained two licenses from the National #Bank of Rwanda, allowing the company to offer its #payment services to over 13 million individuals and businesses living and working in Rwanda.
These licenses, known as the electronic money issuer and remittance licenses, which will enable Flutterwave to deploy its range of products, including cross-border money transfer solutions, payment links, invoices, checkout, and its store in Rwanda.
According to Flutterwave's CEO, Olugbenga Agboola, the company's commitment to its vision of linking Africa through payments has been reinforced by the granting of these licenses.
Flutterwave's East Africa Regional Lead, Leah Uwihoreye, also expressed her delight, stating that the licenses will allow Flutterwave to provide "safe, secure and seamless payment services" to individuals and businesses in Rwanda, a country well known for promoting digital technology and fostering innovation.
These licenses, known as the electronic money issuer and remittance licenses, which will enable Flutterwave to deploy its range of products, including cross-border money transfer solutions, payment links, invoices, checkout, and its store in Rwanda.
According to Flutterwave's CEO, Olugbenga Agboola, the company's commitment to its vision of linking Africa through payments has been reinforced by the granting of these licenses.
Flutterwave's East Africa Regional Lead, Leah Uwihoreye, also expressed her delight, stating that the licenses will allow Flutterwave to provide "safe, secure and seamless payment services" to individuals and businesses in Rwanda, a country well known for promoting digital technology and fostering innovation.
𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟭𝟴, 𝟮𝟬𝟮𝟰
🚨🚨 BREAKING: #Meta has banned Russian state media outlets on its platforms.
🚨🚨 BREAKING : #Amazon 📱 Requires Employees to Return to Office Full-Time.
Amazon has instructed its employees to come back to the office five days a week.
🏦 JP Morgan warns of limited #stock market growth 📈 over next ten years, according to CNBC.
🔥 Microsoft $MSFT raised its quarterly dividend by 10% up to $0.83 per share from $0.75 per share.
⚡️The UK's finance trade body believes that blockchain-based ledgers could revolutionize the country's $14.5 trillion #payment industry.
🚨🚨 BREAKING: #Meta has banned Russian state media outlets on its platforms.
🚨🚨 BREAKING : #Amazon 📱 Requires Employees to Return to Office Full-Time.
Amazon has instructed its employees to come back to the office five days a week.
🏦 JP Morgan warns of limited #stock market growth 📈 over next ten years, according to CNBC.
🔥 Microsoft $MSFT raised its quarterly dividend by 10% up to $0.83 per share from $0.75 per share.
⚡️The UK's finance trade body believes that blockchain-based ledgers could revolutionize the country's $14.5 trillion #payment industry.