- \n
- PayPal, Intuit and Square have been approved<\/a> to offer emergency loans to small businesses in the United States as a way to help them survive the COVID-19 crisis.<\/li>\n
- FinTech Futures has released<\/a> information about which core banking systems are being selected for use by financial institutions in various countries around the world.<\/li>\n
- The Committee on Payments and Market Infrastructure and the World Bank have released<\/a> a report indicating that, although FinTech promotes financial inclusion, more concerted efforts (both globally and at the level of individual countries) are necessary to overcome existing risks and barriers.<\/li>\n
- American FinTech startup Fold has announced<\/a> that it will issue a card featuring bitcoin cashback. The card service was developed as part of Visa\u2019s FinTech Fast-Track Program<\/em>.<\/li>\n
- An application for testing China\u2019s national cryptocurrency has been created. So far, only organizations approved<\/a> by the Chinese Central Bank have been granted access to it.<\/li>\n
- The Federal Bureau of Investigation of the United States has issued<\/a> a warning of increased cyberfraud triggered by the COVID-19 crisis.<\/li>\n<\/ul>\n
Russia:<\/strong><\/p>\n
- \n
- Visa has announced that it will increase the transactional limit for contactless payments that do not require PIN code verification in a number of countries, including Russia<\/a>, Ukraine<\/a> and Uzbekistan<\/a>.<\/li>\n
- Visa, Mastercard and Russia\u2019s Mir payment system have reduced<\/a> the interbank commission for purchases in online stores to 0.7% through September 30. This follows a decision by Russia\u2019s Central Bank to limit the rate financial institutions can charge for purchases from online stores to no more than 1% of the total purchase price.<\/li>\n
- The Sberbank online web portal has been updated<\/a> for the first time in 7 years to incorporate a number of new features, including transaction history searches, additional functions and services for payment providers and partner marketplaces.<\/li>\n
- Maxim Chernushchenko, founder and CEO of Cashwagon, has shared<\/a> his predictions for the future of FinTech in the coming decade. Most notably, he believes: data will no longer be a competitive tool for startups; FinTech will become a part of non-financial products; basic financial services will come to look like simple opensource protocols; and companies will transform their core businesses into universal platforms.<\/li>\n
- Leading<\/a> Russian financial institutions detail which banking operations and services can be completed online and via telephone.<\/li>\n
- Expert Online has published<\/a> an article outlining how China\u2019s WeChat grew from messenger app into an entire ecosystem.<\/li>\n<\/ul>\n
Ukraine:<\/strong><\/p>\n
- \n
- The Ukrainian Startup Fund and the Ukrainian Association of FinTech and Innovation Companies have signed<\/a> a memorandum of cooperation. Under the memorandum, the two will exchange information on best practices, facilitate the transfer of knowledge and skills and conduct joint projects, meetings and other events.<\/li>\n
- Alena Degrik, co-founder and CEO of LeoGaming, discusses<\/a> the current crisis facing Ukrainian FinTechs and how it could become a main growth point within the country.<\/li>\n
- Monobank, Ukraine\u2019s first neobank, has increased<\/a> credit limits for 75,000 of its customers, adding a total of UAH 1.5 billion (USD 55.43 million) in available credit.<\/li>\n
- Anastasia Shevchenko, director general of Lugera Ukraine and FinTech Solutions, discusses<\/a> how neobanks are developing and impacting the overall development of financial services.<\/li>\n<\/ul>\n
Belarus:<\/strong><\/p>\n
- \n
- Belarusian startup Open Business has developed<\/a> a product intersecting FinTech and marketing technologies. Specifically, the product allows for the collection and analysis of business data such as sales point turnover, traffic and customer loyalty.<\/li>\n<\/ul>\n
Uzbekistan:<\/strong><\/p>\n
- \n
- The Central Bank of Uzbekistan has transferred<\/a> all pension and government salary payments into a cashless form as a way to help prevent the spread of COVID-19.<\/li>\n<\/ul>\n
Kazakhstan:<\/strong><\/p>\n
- \n
- Starting on May 1st<\/sup>, financial institutions will reduce<\/a> fees related to accepting non-cash payments for economic sectors designated as socially significant.<\/li>\n
- Halyk Bank now allows<\/a> customers to open an account remotely and receive a card via a delivery service.<\/li>\n
- Online lenders have come under<\/a> scrutiny by some members of Parliament for allegedly issuing loans that violate current legislation (e.g. loans at 700% per annum interest rate).<\/li>\n<\/ul>\n
Armenia:<\/strong><\/p>\n
- \n
- The largest electronic money issuer in Armenia, IDRAM LLC, is partnering with Mobile Payments LLC and Russia\u2019s Sovcombank to establish<\/a> a new company in Russia that will develop FinTech solutions.<\/li>\n
- IDBank has launched<\/a> an instant online lending service that is available to customers and non-customers alike.<\/li>\n<\/ul>\n
Azerbaijan:<\/strong><\/p>\n
- IDBank has launched<\/a> an instant online lending service that is available to customers and non-customers alike.<\/li>\n<\/ul>\n
- Halyk Bank now allows<\/a> customers to open an account remotely and receive a card via a delivery service.<\/li>\n
- Starting on May 1st<\/sup>, financial institutions will reduce<\/a> fees related to accepting non-cash payments for economic sectors designated as socially significant.<\/li>\n
- The Central Bank of Uzbekistan has transferred<\/a> all pension and government salary payments into a cashless form as a way to help prevent the spread of COVID-19.<\/li>\n<\/ul>\n
- Alena Degrik, co-founder and CEO of LeoGaming, discusses<\/a> the current crisis facing Ukrainian FinTechs and how it could become a main growth point within the country.<\/li>\n
- Visa, Mastercard and Russia\u2019s Mir payment system have reduced<\/a> the interbank commission for purchases in online stores to 0.7% through September 30. This follows a decision by Russia\u2019s Central Bank to limit the rate financial institutions can charge for purchases from online stores to no more than 1% of the total purchase price.<\/li>\n
- FinTech Futures has released<\/a> information about which core banking systems are being selected for use by financial institutions in various countries around the world.<\/li>\n
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