{"id":16887,"date":"2022-11-16T08:59:22","date_gmt":"2022-11-16T08:59:22","guid":{"rendered":"https:\/\/bulletins.bfconsulting.com\/?p=16887"},"modified":"2022-11-16T08:59:22","modified_gmt":"2022-11-16T08:59:22","slug":"bfc-fintech-monitor-october-november-2022","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-october-november-2022\/","title":{"rendered":"BFC FinTech Monitor (October \u2013 November 2022)"},"content":{"rendered":"<p>Stay up-to-date on all the latest FinTech news and information from around the world in the BFC FinTech Monitor.<\/p>\n<p><strong>Around the World<\/strong><\/p>\n<p><strong>#Reports and Studies<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/futurecio.tech\/contactless-mobile-payments-to-surge-in-apac-in-2024\/\" target=\"_blank\" rel=\"noopener\">Juniper Research<\/a>\u00a0is predicting that the number of users of contactless mobile payment solutions will exceed 1 billion people in 2024, the result of increased consumer demand and a growth in infrastructure capable of accepting contactless payments.<\/li>\n<li>According to a\u00a0<a href=\"https:\/\/www.mckinsey.com\/industries\/financial-services\/our-insights\/the-chessboard-rearranged-rethinking-the-next-moves-in-global-payments\" target=\"_blank\" rel=\"noopener\">McKinsey<\/a>\u00a0report, the revenue of the global payments industry grew 11% in 2021, reaching USD 2.1 trillion.<\/li>\n<li>Polish BaaS provider\u00a0<a href=\"https:\/\/thepaypers.com\/payments-general\/vodeno-research-68-of-european-smes-to-implement-real-time-payments-in-2023--1258623\" target=\"_blank\" rel=\"noopener\">Vodeno<\/a>\u00a0has found that 68% of European SMEs are planning to implement real-time payment processing in 2023.<\/li>\n<li>A\u00a0<a href=\"https:\/\/www.biometricupdate.com\/202210\/yole-report-predicts-11b-consumer-biometrics-market-by-2027-with-boost-from-new-sensors\" target=\"_blank\" rel=\"noopener\">Yole Group<\/a>\u00a0report indicates that the global market for consumer biometrics is expected to reach USD 11 billion by 2027.<\/li>\n<\/ul>\n<p><strong>#Innovations<\/strong><\/p>\n<ul>\n<li>The European Union intends to launch a\u00a0<a href=\"https:\/\/www.nfcw.com\/2022\/11\/10\/380197\/eu-targets-2024-for-european-digital-identity-wallet-launch\/\" target=\"_blank\" rel=\"noopener\">digital identity wallet<\/a>\u00a0that will incorporate information on national identity cards, driver licenses, qualifications and bank accounts.<\/li>\n<li>American financial holding JPMorgan Chase, together with Mastercard, is\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/41294\/jp-morgan-and-mastercard-unveil-pay-by-bank-service\" target=\"_blank\" rel=\"noopener\">testing<\/a>\u00a0a new service based on open banking that will allow consumers to make payments using only their basic bank account information instead of card payment details.<\/li>\n<li><a href=\"https:\/\/www.nfcw.com\/2022\/10\/19\/379774\/wechat-pay-lets-chinese-consumers-make-payments-with-their-palm\/\" target=\"_blank\" rel=\"noopener\">WeChat Pay users<\/a>\u00a0in China can now confirm payments using the palms of their hands thanks to the Palm Payment Biometric Authentication System.<\/li>\n<li>Mastercard has\u00a0<a href=\"https:\/\/finovate.com\/futuretech-friday-mastercard-approves-quantum-resistant-contactless-cards\/\" target=\"_blank\" rel=\"noopener\">approved<\/a>\u00a0the first prototype of contactless cards resistant to quantum attacks.<\/li>\n<li>The Commonwealth Bank of Australia has\u00a0<a href=\"https:\/\/www.commbank.com.au\/articles\/newsroom\/2022\/10\/CBA-helps-charities-digital-donations.html\" target=\"_blank\" rel=\"noopener\">launched<\/a>\u00a0the Smart Giving app, which allows charities to accept digital contactless donations.<\/li>\n<li>Polish retail chain Komputronik is\u00a0<a href=\"https:\/\/www.nfcw.com\/2022\/10\/24\/379903\/polish-retail-chain-trials-biometric-payments\/\" target=\"_blank\" rel=\"noopener\">implementing<\/a>\u00a0a biometric payment system for goods based on PayEye technology. Buyers just need to look at a special eyePOS terminal to complete a transaction.<\/li>\n<li>The European Central Bank (ECB) has\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/41168\/eurosystem-delays-t2-wholesale-payment-system-launch\" target=\"_blank\" rel=\"noopener\">postponed<\/a>\u00a0the launch of a new real-time gross settlement system and a centralized liquidity management model until March 2023. The regulator&#8217;s Market Infrastructure Board felt it necessary to give users more time to complete testing.<\/li>\n<\/ul>\n<p><strong>#Cryptocurrencies, Blockchain and Non-Fungible Tokens (NFTs)<\/strong><\/p>\n<ul>\n<li>The head of the\u00a0<a href=\"https:\/\/edition.cnn.com\/2022\/11\/09\/business\/sam-bankman-fried-wealth-ftx-ctrp\/index.html\" target=\"_blank\" rel=\"noopener\">FTX<\/a>\u00a0crypto exchange, Sam Bankman-Fried, lost 94% of his fortune a day after its merger with Binance. Earlier, FTX had announced the\u00a0<a href=\"https:\/\/card.ftx.com\/\" target=\"_blank\" rel=\"noopener\">launch<\/a>\u00a0of its own Visa cryptocurrency debit cards in 40 countries around the world.<\/li>\n<li>American financial holding\u00a0<a href=\"https:\/\/cointelegraph.com\/news\/jp-morgan-executes-first-defi-trade-on-public-blockchain\" target=\"_blank\" rel=\"noopener\">JPMorgan<\/a>\u00a0has successfully completed its first cross-border transaction in the framework of decentralized finance (DeFi).<\/li>\n<li><a href=\"https:\/\/www.coindesk.com\/business\/2022\/07\/21\/crypto-layoffs-opensea-blockchaincom-coinbase-gemini-among-firms-forced-to-make-mass-job-cuts\/\" target=\"_blank\" rel=\"noopener\">CoinDesk<\/a>\u00a0is estimating that more than 24,000 people have lost their jobs in the crypto industry over the past six months.<\/li>\n<li>The Crypto Asset Regulation Proposal (also known as the Crypto Asset Markets Regulation (<a href=\"https:\/\/decrypt.co\/113731\/february-vote-mica-crypto-bill-is-tentative-european-union\" target=\"_blank\" rel=\"noopener\">MiCA<\/a>)) will not be adopted until February 2023 at the earliest.<\/li>\n<li>According to\u00a0<a href=\"https:\/\/cryptonews.net\/news\/bitcoin\/14182777\/\" target=\"_blank\" rel=\"noopener\">CoinATMradar<\/a>, the number of ATM devices for transactions with crypto assets has reached a record level, with 1,459 crypto ATMs operating in Europe.<\/li>\n<li><a href=\"https:\/\/www.insiderintelligence.com\/content\/moneygram-reaffirms-crypto-commitment-with-trading-solution\" target=\"_blank\" rel=\"noopener\">The MoneyGram<\/a>\u00a0money transfer system has added cryptocurrency trading tools to its mobile application.<\/li>\n<li>Mastercard has\u00a0<a href=\"https:\/\/www.cnbc.com\/2022\/10\/04\/mastercard-deepens-crypto-push-with-tool-for-preventing-fraud.html\" target=\"_blank\" rel=\"noopener\">developed<\/a>\u00a0the AI-based Crypto Secure anti-crypto fraud solution. The company also\u00a0<a href=\"https:\/\/www.mastercard.com\/news\/press\/2022\/october\/mastercard-to-bring-crypto-trading-capabilities-to-banks\/\" target=\"_blank\" rel=\"noopener\">introduced<\/a>\u00a0the Crypto Source program, which allows banks to trade cryptocurrencies.<\/li>\n<li>Former\u00a0<a href=\"https:\/\/www.theblock.co\/post\/173478\/former-revolut-employees-raise-3-5-million-to-build-crypto-investment-app\" target=\"_blank\" rel=\"noopener\">Revolut<\/a>\u00a0employees have raised USD 3.5 million to create a crypto investment app.<\/li>\n<li>The Organization for Economic Co-operation and Development (OECD) has\u00a0<a href=\"https:\/\/www.oecd.org\/tax\/exchange-of-tax-information\/crypto-asset-reporting-framework-and-amendments-to-the-common-reporting-standard.pdf\" target=\"_blank\" rel=\"noopener\">published<\/a>\u00a0the Tax Reporting Framework for Crypto Assets (CARF).<\/li>\n<li>Google will now accept\u00a0<a href=\"https:\/\/www.cnbc.com\/2022\/10\/11\/google-selects-coinbase-to-take-cloud-payments-with-cryptocurrencies.html\" target=\"_blank\" rel=\"noopener\">payments<\/a>\u00a0for cloud services in ten cryptocurrencies.<\/li>\n<li>Visa and Mastercard plan to launch a\u00a0<a href=\"https:\/\/fintech.global\/2022\/10\/12\/mineplex-raises-100m-for-its-new-mobile-bank\/\" target=\"_blank\" rel=\"noopener\">CrossFi<\/a>\u00a0acquiring service, which will allow consumers to work with USDT, BTC, ETH and TRON tokens. Visa also intends to create its own\u00a0<a href=\"https:\/\/www.coindesk.com\/business\/2022\/10\/28\/visa-files-trademark-applications-for-crypto-wallets-nfts-and-the-metaverse\/\" target=\"_blank\" rel=\"noopener\">cryptocurrency wallet<\/a>.<\/li>\n<li>Crypto exchange\u00a0<a href=\"https:\/\/news.coincu.com\/137296-blockchaincom-introduced-visa-debit-card\/\" target=\"_blank\" rel=\"noopener\">Blockchain.com<\/a>\u00a0has announced the release of a Visa debit card with 1% cryptocurrency cashback for each purchase.<\/li>\n<li>Seven more cryptocurrency and blockchain companies will take part in the global\u00a0<a href=\"https:\/\/www.kitco.com\/news\/2022-11-03\/Mastercard-adds-7-blockchain-startups-to-its-Start-Path-program.html\" target=\"_blank\" rel=\"noopener\">Mastercard Start Path<\/a>\u00a0program.<\/li>\n<\/ul>\n<p><strong>#Central Bank Digital Currencies (CBDCs)<\/strong><\/p>\n<ul>\n<li>Christine Lagarde, head of ECB, has\u00a0<a href=\"https:\/\/news.bitcoin.com\/brussels-to-put-out-digital-euro-law-shortly-ecbs-lagarde-says\/\" target=\"_blank\" rel=\"noopener\">announced<\/a>\u00a0that the European Commission will soon submit a bill on the digital euro.<\/li>\n<li>The Bank for International Settlements (BIS) and regulators in France, Singapore, and Switzerland are exploring cross-border trading and\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/41247\/bis-and-three-central-banks-to-test-cross-border-cbdcs-using-defi-protocols\" target=\"_blank\" rel=\"noopener\">CBDC<\/a>\u00a0settlements using DeFi protocols.<\/li>\n<li>The\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/41073\/swift-finds-role-as-global-hub-for-cbdcs-and-tokenised-assets\" target=\"_blank\" rel=\"noopener\">SWIFT<\/a>\u00a0interbank system for transferring information and making payments has completed the development of methods for using CBDCs in international payment transactions.<\/li>\n<li>Japan Credit Bureau (the Japanese analogue of Visa and Mastercard)\u00a0<a href=\"https:\/\/cointelegraph.com\/news\/japan-s-international-payments-system-will-test-plastic-cards-for-cbdc\/amp\" target=\"_blank\" rel=\"noopener\">will test<\/a>\u00a0plastic cards for use with CBDCs.<\/li>\n<li>The Central Bank of the United Arab Emirates (CBUAE) has\u00a0<a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/uae-central-bank-sets-roadmap-for-cbdc-launch\/\" target=\"_blank\" rel=\"noopener\">completed<\/a>\u00a0the world&#8217;s largest CBDC regulator transaction pilot project.<\/li>\n<li>US Federal Reserve Board member Christopher Waller has said that a US\u00a0<a href=\"https:\/\/cointelegraph.com\/news\/fed-governor-waller-says-us-cbdc-would-not-enhance-things-the-world-loves-about-us-fiat\" target=\"_blank\" rel=\"noopener\">CBDC<\/a>\u00a0will not improve the qualities of the fiat dollar that are valued by foreign companies.<\/li>\n<\/ul>\n<p><strong>#Miscellaneous<\/strong><\/p>\n<ul>\n<li>New Twitter owner Elon Musk\u00a0<a href=\"https:\/\/www.cnbc.com\/2022\/11\/09\/elon-musk-brainstorms-plans-for-how-payments-could-work-on-twitter.html\" target=\"_blank\" rel=\"noopener\">has said<\/a>\u00a0that the company will consider launching money transfers between users.<\/li>\n<li>The European Banking Association has developed a\u00a0<a href=\"https:\/\/forms.office.com\/pages\/responsepage.aspx?id=FGYWpwR0NE-UZm-0Sl0jaN0TKDE_8w1CnkPFGgAM58VURUJIWEhDRE1RS0E5NldTOFhRTTJLUTBSTS4u\" target=\"_blank\" rel=\"noopener\">taxonomy<\/a>\u00a0of fraud that is expected to provide a simplified and understandable framework for describing fraud scenarios associated with all types of payments, including card transactions.<\/li>\n<li>Apple is working with\u00a0<a href=\"https:\/\/www.apple.com\/newsroom\/2022\/10\/apple-card-will-let-users-grow-daily-cash-rewards-while-saving-for-the-future\/\" target=\"_blank\" rel=\"noopener\">Goldman Sachs<\/a>\u00a0to launch high-yield savings accounts for Apple Card holders. The company also entered into an agreement with\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/41268\/paypal-and-apple-to-accept-each-others-payment-products\" target=\"_blank\" rel=\"noopener\">PayPal<\/a>\u00a0to start accepting each other&#8217;s payment products within separate ecosystems.<\/li>\n<li>Revolut is offering a\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/40984\/revolut-launches-account-for-freelancers\" target=\"_blank\" rel=\"noopener\">new account<\/a>\u00a0type for freelancers that has a built-in\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/41137\/revolut-shops-launches-in-ireland-offering-three-percent-cashback-with-top-brands\" target=\"_blank\" rel=\"noopener\">Shops<\/a>\u00a0marketplace.<\/li>\n<li>JP Morgan has invested in the\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/41162\/jp-morgan-invests-in-second-lifes-payment-platform-tilia\/payments\" target=\"_blank\" rel=\"noopener\">Tilia<\/a>\u00a0payment platform, which was originally created to support the Second Life online virtual world economy.<\/li>\n<\/ul>\n<p dir=\"ltr\"><strong>Ukraine<\/strong><\/p>\n<ul>\n<li>The\u00a0<a href=\"https:\/\/sp.minfin.com.ua\/bankonline\/fintech-ukraine-2022\" target=\"_blank\" rel=\"noopener\">FinTech Ukraine 2022<\/a>\u00a0conference will be held in Kyiv on November 18, 2022. The conference is thematically divided into three sections: (1) regulatory novelties, (2) recent research and (3) trends in Ukrainian and global fintechs.<\/li>\n<li>Fintech Insider\u00a0<a href=\"https:\/\/fintechinsider.com.ua\/temni-chasy-yak-vidklyuchennya-elektryky-ta-pereboyi-z-internetom-vplyvayut-na-robotu-bankiv-i-fintehiv\/\" target=\"_blank\" rel=\"noopener\">describes<\/a>\u00a0how constant power outages and interruptions in the internet affect the work of Ukrainian banks and fintech companies.<\/li>\n<li>The largest crypto-exchange Binance and the Ministry of Digital Development are integrating cryptocurrency payments into the\u00a0<a href=\"https:\/\/forklog.com.ua\/mintsyfra-ta-binance-opratsovuyut-mozhlyvist-integratsiyi-oplaty-kryptovalyutamy-v-diyi\/\" target=\"_blank\" rel=\"noopener\">Diya<\/a>\u00a0application. Additionally, the\u00a0<a href=\"https:\/\/psm7.com\/cryptocurrency\/binance-sovmestno-s-wog-obyavlyaet-ob-integracii-platezhnogo-metoda-binance-pay.html\" target=\"_blank\" rel=\"noopener\">Binance Pay<\/a>\u00a0payment method is now accepted when purchasing fuel across the country.<\/li>\n<li>Dealroom.co, in collaboration with Google for Startups and Atomico,\u00a0<a href=\"https:\/\/dev.ua\/ru\/news\/startapy-1667833767\" target=\"_blank\" rel=\"noopener\">conducted<\/a>\u00a0a study of the startup and venture capital market in Central and Eastern Europe in 2022. The value of all Ukrainian startups was estimated at USD 23.3 billion in 2022, which is almost USD 3.8 billion lower than a year earlier.<\/li>\n<li>Ukrainian companies, researchers and government agencies can receive financial assistance for the implementation of their own projects within the framework of the\u00a0<a href=\"https:\/\/psm7.com\/money\/ukraincy-poluchat-e6-mlrd-cifrovyx-grantov-na-realizaciyu-ambicioznyx-proektov.html\" target=\"_blank\" rel=\"noopener\">Digital Europe Program<\/a>, including in areas related to high-performance computing, data, AI, digital skills and public sector digitalization.<\/li>\n<li>Israeli company\u00a0<a href=\"https:\/\/psm7.com\/security\/ukrainskie-banki-smogut-vyyavlyat-moshennichestvo-po-golosu-vas-otkryla-ofis-v-kieve.html\" target=\"_blank\" rel=\"noopener\">Nemesysco VAS<\/a>\u00a0(Voice Analysis Solutions) has announced the opening of its first office in Ukraine. The company specializes in the creation of intelligent services that can determine levels of risk when processing financial products based on the voice of customers.<\/li>\n<li>A system of\u00a0<a href=\"https:\/\/psm7.com\/company\/visa\/kggs-pri-podderzhke-visa-zapustil-cifrovuyu-oplatu-v-municipalnom-transporte.html\" target=\"_blank\" rel=\"noopener\">cashless<\/a>\u00a0contactless payments for public transportation has been launched in Kyiv.<\/li>\n<li>Ukrainian fintech company\u00a0<a href=\"https:\/\/sdk.finance\/sdk-finance-wins-2nd-place-at-barclays-cbdc-hackathon\/\" target=\"_blank\" rel=\"noopener\">SDK.finance<\/a>\u00a0won second place at the CBDC international hackathon.<\/li>\n<li>Entrepreneurs will now be able to pay taxes using the\u00a0<a href=\"https:\/\/psm7.com\/privat24\/teper-predprinimateli-smogut-platit-nalogi-v-privat24.html\" target=\"_blank\" rel=\"noopener\">Privatbank<\/a>\u00a0mobile app.<\/li>\n<\/ul>\n<p><strong>Kazakhstan<\/strong><\/p>\n<ul>\n<li>The National Bank of Kazakhstan has begun testing the\u00a0<a href=\"https:\/\/kapital.kz\/finance\/109905\/natsbank-nachal-testirovat-tsifrovoy-tenge.html\" target=\"_blank\" rel=\"noopener\">digital tenge<\/a>\u00a0with financial institutions.<\/li>\n<li>Kazakhstan has became the first country in Central Asia to launch an accelerator jointly with Google \u2013 the\u00a0<a href=\"https:\/\/forbes.kz\/process\/technologies\/kak_google_for_startups_i_astana_hub_prokachivayut_startapyi\" target=\"_blank\" rel=\"noopener\">Silkway Accelerator<\/a>\u00a0Project.<\/li>\n<li>The largest crypto exchange Binance intends to test the integration of the\u00a0<a href=\"https:\/\/kaztag.kz\/ru\/news\/binance-nameren-protestirovat-integratsiyu-tsifrovogo-tenge-v-tsepochku-bnb-chain\" target=\"_blank\" rel=\"noopener\">digital tenge<\/a>\u00a0into the chain of the European BNB Chain Incubator Program.<\/li>\n<li>A bill on the\u00a0<a href=\"https:\/\/plusworld.ru\/daily\/cat-kriptovalyuty\/v-kazahstane-odobrili-zakonoproekt-o-legalizatsii-majninga-v-pervom-chtenii\/\" target=\"_blank\" rel=\"noopener\">legalization of mining<\/a>\u00a0was approved in its first reading. This comes following comments by the head of the state (Kassym-Jomart Tokayev) that the\u00a0<a href=\"https:\/\/24.kz\/ru\/news\/policy\/item\/565920-k-tokaev-uroven-okhvata-internetom-nuzhno-dovesti-do-100\" target=\"_blank\" rel=\"noopener\">cryptocurrency<\/a>\u00a0should receive full legal recognition.<\/li>\n<\/ul>\n<p><strong>Kyrgyzstan<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/economist.kg\/novosti\/2022\/11\/01\/rezident-pvt-kyrgyzstana-pokazal-bankam-kak-avtomatizirovat-rabotu-za-schet-smart-robotov\/\" target=\"_blank\" rel=\"noopener\">AI Fusion<\/a>, a resident of the Hi-Tech Park, presented a system for transferring routine work in financial institutions to smart robots at the Fintech without Borders.Digital Eurasia forum.<\/li>\n<\/ul>\n<p><strong>Tajikistan<\/strong><\/p>\n<ul>\n<li>Gulanor Atobek, the new chairman of Alif Bank,\u00a0<a href=\"https:\/\/asiaplustj.info\/ru\/news\/tajikistan\/economic\/20221103\/kuda-budet-rasshiryatsya-alif-bank-i-kak-izmenitsya-kadrovaya-politika-s-prihodom-gulanor-atobek\" target=\"_blank\" rel=\"noopener\">discusses<\/a>\u00a0how the bank plans to continue to use innovative technologies and digital tools to develop customer services.<\/li>\n<\/ul>\n<p><strong>Uzbekistan<\/strong><\/p>\n<ul>\n<li>Residents of Uzbekistan will be able to\u00a0<a href=\"https:\/\/repost.uz\/zovi-menya-cryptobogach\" target=\"_blank\" rel=\"noopener\">purchase<\/a>\u00a0crypto assets using soums.<\/li>\n<li>Anton Martynenko, director of big data analytics at Humans,\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/11\/09\/big-data\/\" target=\"_blank\" rel=\"noopener\">speaks about<\/a>\u00a0how big data analysis helps companies attract customers, build a business strategy more efficiently and find new growth points.<\/li>\n<li>Dmitry Kharitonov, CEO of Innotech Group,\u00a0<a href=\"https:\/\/uz.kursiv.media\/opinions\/kak-finteh-mozhet-izmenit-ekonomiku-uzbekistana\/\" target=\"_blank\" rel=\"noopener\">discusses<\/a>\u00a0how fintech can change the economy of Uzbekistan, particularly how Uzbekistan is poised to digitalize much faster than other countries and transition from plastic to biometrics.<\/li>\n<li>Uzcard has\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/10\/25\/uzcard-pay\/\" target=\"_blank\" rel=\"noopener\">introduced<\/a>\u00a0a new application for contactless payments that can work without access to the internet.<\/li>\n<li>Uzbekistan has introduced\u00a0<a href=\"https:\/\/www.coindesk.com\/policy\/2022\/09\/30\/uzbekistan-introduces-monthly-fees-for-crypto-companies-effective-immediately\/\" target=\"_blank\" rel=\"noopener\">monthly commissions<\/a>\u00a0for the activities of cryptocurrency companies.<\/li>\n<li>Uzbekistan\u00a0<a href=\"https:\/\/mininnovation.uz\/ru\/news\/post-865\" target=\"_blank\" rel=\"noopener\">climbed<\/a>\u00a0another four positions in the Global Innovation Index (GII), reaching 82nd place (out of 132).<\/li>\n<li>Neobank has\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/10\/27\/apelsin-uzum\/\" target=\"_blank\" rel=\"noopener\">integrated<\/a>\u00a0its services with Uzum Group, meaning that consumers can now use QR-code payments solutions via Uzum Pay.<\/li>\n<li>New services available in Uzbekistan:<br \/>\n\u2013 Transfers between cards without commissions in the\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/10\/27\/beeline\/\" target=\"_blank\" rel=\"noopener\">Beepul<\/a>\u00a0app<br \/>\n\u2013 Transfers to China and other countries from UnionPay, Visa, Mastercard cards in the\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/10\/06\/ipak-yoli-bank\/\" target=\"_blank\" rel=\"noopener\">Ipak Yuli bank<\/a>\u00a0app<br \/>\n\u2013 Remote identification in the\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/10\/21\/infinbank\/\" target=\"_blank\" rel=\"noopener\">InfinBANK<\/a>\u00a0app<br \/>\n\u2013 Payments for international services\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/10\/25\/payme\/\" target=\"_blank\" rel=\"noopener\">using<\/a>\u00a0the Payme payment gateway for owners national cards<\/li>\n<\/ul>\n<p><strong>Azerbaijan<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/report.az\/ru\/finansy\/bankovskij-sektor-azerbajdzhana-izuchaet-opyt-tureckih-platezhnyh-sistem\/\" target=\"_blank\" rel=\"noopener\">Representatives<\/a>\u00a0of the Azerbaijani banking sector are studying the experience of Turkish payment systems.<\/li>\n<li>Ruslan Talibov, chairman of the board of the Azerbaijan FinTech Association, has\u00a0<a href=\"https:\/\/report.az\/ru\/finansy\/finteh-kompanii-azerbajdzhana-hotyat-poluchit-pryamoj-dostup-k-massovym-platezhnym-sistemam\/\" target=\"_blank\" rel=\"noopener\">stated<\/a>\u00a0that local fintech companies need direct access to payment systems.<\/li>\n<\/ul>\n<p><strong>Armenia<\/strong><\/p>\n<ul>\n<li>The\u00a0<a href=\"https:\/\/news.am\/rus\/news\/729692.html\" target=\"_blank\" rel=\"noopener\">FINTECH360<\/a>\u00a0international conference was held in Yerevan, with more than 200 representatives of leading banks, IT and telecommunications companies, payment systems and specialized associations participating in it.<\/li>\n<li>Armen Harutyunyan, a research fellow at the Singapore University of Social Sciences and a member of the Academic Council of the Global Fintech Institute,\u00a0<a href=\"https:\/\/www.civilnet.am\/en\/news\/678649\/crypto-in-armenia-what-needs-to-happen-next\/\" target=\"_blank\" rel=\"noopener\">discusses<\/a>\u00a0what Armenia needs to develop its crypto industry.<\/li>\n<li>According to Izvestia, the Central Bank of the Russian Federation may\u00a0<a href=\"https:\/\/iz.ru\/1410001\/2022-10-14\/v-sbp-prorabotaiut-vopros-perevodov-v-armeniiu-i-kazakhstan\" target=\"_blank\" rel=\"noopener\">launch<\/a>\u00a0a fast payment system in Armenia and Kazakhstan.<\/li>\n<\/ul>\n<p><strong>Georgia<\/strong><\/p>\n<ul>\n<li>The largest European cryptocurrency exchange of Ukrainian origin,\u00a0<a href=\"https:\/\/delo.ua\/ru\/news-companies\/whitebit-poglotila-gruzinskuyu-kompaniyu-s-pocti-2-mln-klientov-406608\/\" target=\"_blank\" rel=\"noopener\">WhiteBIT<\/a>, has taken over Unicard, Georgia&#8217;s first and largest non-banking institution and the local market leader in loyalty programs and e-wallets.<\/li>\n<li>Residents of Georgia can now pay with select cryptocurrencies (Bitcoin, Bitcoin Cash, Bitcoin Gold, Zcash, Litecoin) in\u00a0<a href=\"https:\/\/www.facebook.com\/FrescoRetailGroup\/posts\/pfbid02koGFYFG4euD89y3UrtBgNrGspcxyT78643wCvHnn7dwSfuHoqfxZAkj4tk5Hfqdzl\" target=\"_blank\" rel=\"noopener\">Fresco<\/a>\u00a0supermarkets.<\/li>\n<li><a href=\"https:\/\/bankofgeorgiagroup.com\/storage\/news\/BOG%20Named%20World%27s%20Best%20Consumer%20Digital%20Bank%202022%20by%20Global%20Finance.pdf\" target=\"_blank\" rel=\"noopener\">Bank of Georgia<\/a>\u00a0has been recognized as the world&#8217;s best digital bank for private clients by the international edition of Global Finance.<\/li>\n<li>Coinbase intends to sue\u00a0<a href=\"https:\/\/www.ixbt.com\/news\/2022\/10\/18\/coinbase-namerena-podat-v-sud-na-trejderov-iz-gruzii.html\" target=\"_blank\" rel=\"noopener\">traders<\/a>\u00a0from Georgia who bought cryptocurrencies at 100 times below market prices due to an exchange error.<\/li>\n<\/ul>\n<p><strong>Moldova<\/strong><\/p>\n<ul>\n<li>Stefan Nistor, the founder and coordinator of the\u00a0<a href=\"https:\/\/fintechinsider.com.ua\/yak-rozvyvayetsya-finteh-u-moldovi-intervyu-zi-stefanom-nistorom-zasnovnykom-fintech-moldova\/\" target=\"_blank\" rel=\"noopener\">Fintech Moldova<\/a>\u00a0platform, discusses how fintech is developing in Moldova.<\/li>\n<li>The\u00a0<a href=\"https:\/\/newsmaker.md\/ro\/conferinta-fintech-moldova-2022-agenda-digitala-si-cadrul-regulator-obiectivele-bancii-nationale-si-sistemele-inovative-de-plati\/\" target=\"_blank\" rel=\"noopener\"><em>Fintech Moldova Conference 2022<\/em><\/a>\u00a0brought together over 270 participants, including representatives from Moldova, Portugal, Romania, the United Kingdom and the United States.<\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-16887 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor 9th \u2013 16th February'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/15787\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/02\/9e7905d7-82ef-4c7e-a690-065d8589c5fb1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15787\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15787'>\n\t\t\t\tBFC FinTech Monitor 9th \u2013 16th February\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Denmark to use a cryptocurrency to help developing countries'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/denmark-to-use-a-cryptocurrency-to-help-developing-countries\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/09\/denmark-to-use-a-cryptocurrency-to-help-developing-countries-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-10826\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-10826'>\n\t\t\t\tDenmark to use a cryptocurrency to help developing countries\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Video: how Israel is ruling the cybersecurity world'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/video-how-israel-is-ruling-the-cybersecurity-world\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/10\/How-Israel-Rules-The-World-Of-Cyber-Security-VICE-on-HBO-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-11156\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-11156'>\n\t\t\t\tVideo: how Israel is ruling the cybersecurity world\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Stay up-to-date on all the latest FinTech news and information from around the world in the BFC FinTech Monitor. Around the World #Reports and Studies Juniper Research\u00a0is predicting that the number of users of contactless mobile payment solutions will exceed 1 billion people in 2024, the result of increased consumer demand and a growth in &hellip;<\/p>\n","protected":false},"author":12,"featured_media":16871,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[473],"tags":[80,399,184,35,30,70,75],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16887"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=16887"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16887\/revisions"}],"predecessor-version":[{"id":16888,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16887\/revisions\/16888"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/16871"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=16887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=16887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=16887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}