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BFC FinTech Monitor 13th-20th February

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor and in the telegram channel FinTech Wave.

 

Around the World:

  • Analysts with Juniper Research predict that the volume of contactless payments will triple within just 4 years’ time.
  • The European Union (EU) is not expected to give the United Kingdom unlimited access to its financial markets following Brexit.
  • Uber is hiring specialists to start developing financial products as part of its Uber Money team. In particular, they will work on developing new payment methods and artificial intelligence-based risk management models.
  • Major financial corporations JP Morgan Chase, Goldman Sachs and Citigroup have begun actively exploring the use of quantum computers.
  • Deloitte has released a report on major payment trends for 2020, including trends related to the evolution of the payment economy and the increasing role of non-profit organizations in the formation of ecosystems.
  • BitPay is collaborating with Poynt to enable consumers to pay with bitcoin at more than 100,000 stores.
  • The National Bank of Egypt has joined the Ripple cryptocurrency platform as well as the associated RippleNet payment blockchain network.
  • The government of Japan has announced its intention to develop its own national cryptocurrency, with discussions toward this end slated to begin in mid-2020.

 

Russia:

  • Moscow will play host to the FinNext 2020 forum on February 27. The theme for the event will be: “More Life, Less Banks!”
  • A proposal from Central Bank of Russia could lead to the accounts of buyers and sellers of cryptocurrencies being blocked.
  • Criminals have begun using methods of social engineering to access accounts and steal money from them. And it all starts with a simple phone call.
  • Ak Bars Bank and Coinkeeper have issued a free-to-use virtual card based on open-API technology.
  • The international payment system Payeer and the digital asset exchange Binance have joined forces to allow users to buy cryptocurrencies using rubles.
  • The Central Bank of Russia has completed its piloting of a platform that digitizes (tokenizes) goods, services, securities and other assets.
  • Russian stores will soon be able to connect to the Central Bank Fast Payment System to bypass connecting directly with banks in order to accept payments via a QR code.

 

Ukraine:

  • The international conference Payment Innovation 2030 will be held in Kiev on March 17.
  • Mobile operator lifecell has launched Paycell, a mobile wallet for Android users.
  • The National Bank of Ukraine has issued a currency license to the payment service Leogaming Pay, meaning that online game accounts can now be replenished using Visa- and MasterCard-backed bank cards.
  • Elena Vasina, a communications specialist for the financial group Bredley Holding, has prepared an overview of the online lending market in Ukraine.
  • The National Bank of Ukraine has announced that cashless payments are having a positive effect on the financial habits of Ukrainians.

 

Belarus:

  • Inna Samovich, head of the FinTech startup Cashew FinTech, reveals why QR code-based payments save retailers money.

 

Kazakhstan:

  • Arthur Sundetov, founder of the IT company Gexabyte, explains why blockchain projects are more viable than those in the cryptosphere.
  • Kazakhstan has proposed measures to strengthen personal data protection within the country.

 

Uzbekistan:

  • Uzbekistan is developing a national blockchain platform.
  • Spot.uz explains how to make money on the first Uzbek cryptoexchange.

 

Armenia:

  • Unibank customers will soon be able to replenish accounts and repay loans using the Telcell Wallet application.

 

Georgia:

  • Bank of Georgia has launched a project to allow users to pay for travel in the Tbilisi metro using facial recognition technology. The bank has also launched a product that turns Android-based smartphones into a payment terminals.

 

Azerbaijan:

  • Azerbaijanis can now make payments using modern payment solutions, including QR code-based payments.
  • Azerbaijani authorities plan to adopt a new program to further develop digital payments. This is expected to result in an increase of at least 7% in the volume of cashless payments in the country.

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