Brazil launches instant payments system called Pix

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The Central Bank of Brazil has announced it will launch an instant payments platform, called Pix, that will speed up and simplify transactions, as well as foster financial sector competition and tempt in new players such as big techs Facebook and Google.

Brazil launches instant payments system called Pix

Pix, a state-owned instant payments system allows consumers and companies to make money transfers 24 hours a day, seven days a week, without requiring debit or credit cards. It is also free of charge for individuals.

“Huge changes are underway in payments. Society demands something that is fast, cheap, safe, transparent

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EPC publishes first SRTP scheme rulebook for industry review

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Following a three-month public consultation, and in close collaboration with stakeholders from the entire payment value chain, the EPC has published the first version of the Single Euro Payments Area (SEPA) Request-To-Pay (RTP) scheme rulebook – SRTP.

EPC publishes first SRTP scheme rulebook

The SRTP scheme covers the set of operating rules and technical elements (including messages) that allow a Payee to request the initiation of a payment from a Payer in a wide range of physical or online use cases.

The scheme can be considered as a complement to the payment flow because it supports the end-to-end process and

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Cross-border B2C e-commerce spend to break the $1 trillion barrier

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New data has found that $1,120 billion will be spent by global online shoppers on international e-commerce websites and digital services in 2022. This will represent around 20% of total global e-commerce spend across physical goods and digital services.

According to Kaleido’s new report on B2C cross-border e-commerce: Market outlook 2021, regional growth of cross-border sales will outstrip domestic e-commerce growth in all regions. Cross-border e-commerce will witness an average annual growth rate of 14% over the next five years, compared to 9% accounted for by domestic e-commerce spend. The research found that cheaper goods and, importantly, shipping are

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Novalnet partners with Banking Circle for cross border settlement and FX

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Novalnet AG, a full-service Payment Provider, is partnering with Banking Circle, for faster and lower cost foreign exchange (FX) and settlement solutions for its 12,000+ customers around the world.

Novalnet partners with Banking Circle

Banking Circle is helping Novalnet to efficiently support its global clientele with local and cross border settlement at competitive rates and with faster reconciliation to help online merchants manage and maintain cashflow.

Novalnet was created to tackle the countless payment pain points encountered by online businesses: payment fraud and resulting chargeback, the convoluted customer journey, processing errors, drop in conversion rates, cart abandonments, high transaction

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