A flaw in Revolut’s U.S. payment system reportedly let criminals steal more than $20 million. As the Financial Times (FT) reported Sunday (July 9), the thefts occurred over several months in 2022 before the British FinTech was able to fix the issue. According to FT, sources with knowledge...
Five Turkish banks have adopted Russia’s Mir payments system, a Bloomberg report said Saturday (Aug. 6), quoting Turkish President Recep Tayyip Erdogan after his talk with President Vladimir Putin at the Russian resort of Sochi. The report said Erdogan spoke of “serious developments” on work...
Real-time payments continue to gain traction around the world. Case in point: Brazil. The country’s banking system is giving an upgrade to its instant payments system. Called PIX, the new payment rails have been in the works for some time and launched last week. It...
Russia is partnering with PayXpert to test its national payment system MIR in London, RT.com reported on Wednesday (Nov. 27). The U.K. will be the first country where the system will operate, and PayXpert will become the “unique acquirer” of MIR cards in Europe, the...
November 16, 2020
Real-time payments continue to gain traction around the world. Case in point: Brazil. The country’s banking system is giving an upgrade to its instant payments system. Called PIX, the new payment rails have been in the works for some time and launched last week. It will be fully operational starting Monday (Nov. 16) and has […]
October 27, 2023
Michael S. Barr, vice chair for supervision at the Federal Reserve, addressed the increased experimentation with new payment technologies, such as stablecoins and central bank digital currencies (CBDCs), on Friday (Oct. 27). During the Economics of Payments XII Conference held at the Federal Reserve Board in Washington, D.C., Barr emphasized the need for regulation when it […]
July 09, 2023
A flaw in Revolut’s U.S. payment system reportedly let criminals steal more than $20 million. As the Financial Times (FT) reported Sunday (July 9), the thefts occurred over several months in 2022 before...
August 07, 2022
Five Turkish banks have adopted Russia’s Mir payments system, a Bloomberg report said Saturday (Aug. 6), quoting Turkish President Recep Tayyip Erdogan after his talk with President Vladimir Putin at...
November 27, 2019
Russia is partnering with PayXpert to test its national payment system MIR in London, RT.com reported on Wednesday (Nov. 27). The U.K. will be the first country where the system...
