Pulse
Global timeline
Every dated payments event across the 41-country corpus, newest first. The trailing-90-day window per country, aggregated. Tagged regulation, launch, M&A, outage, data, or milestone.
- Events:
- 247
- Countries:
- 41
- Regulation:
- 76
- Data:
- 64
- Milestone:
- 56
- Launch:
- 36
- M&A:
- 11
- Macro:
- 3
May 2026
- ColombiaData
Bre-B Q2 indicator: average daily transactions surpass 4 million
Banco de la República's May Bre-B indicators page put average daily transaction count above 4 million through mid-Q2 2026, an annualised run-rate of approximately 1.5 billion transactions. Average ticket remains around US$43, consistent with the consumer P2P composition of early-stage volume.
- IsraelData
Shekel hits 2.89 vs USD — strongest G10 currency over trailing 12 months
USD/ILS hit 2.89 mid-market on 22 May, capping a year of broad-based shekel strength (+20.6% trailing 12-month) on tech-export tailwinds and post-war recovery. BOI has refrained from intervention through the appreciation; FX reserves remain near record at US$220bn+.
- FranceLaunch
Nuvei joins EPI to enable Wero acceptance for European merchants
Nuvei announced it had joined the European Payments Initiative to enable Wero payments across European e-commerce merchants, with France a primary launch market. The PSP integration brings Wero acceptance to non-bank-acquired merchants in France, addressing the long-tail acceptance gap that has constrained P2M volume since the wallet's 2024 launch.
Nuvei — Nuvei and European Payments Initiative Launch Wero Payments for European eCommerce Merchants
- MexicoData
Nu Holdings Q1 2026: Mexico reaches breakeven at 15M customers
Nu's Q1 2026 results put Mexican customers at 15 million, up from roughly 10.3 million at end-2025, with local operations reaching breakeven a year ahead of the Brazil playbook's pace. Group-level revenue cleared US$5bn for the first time. Nu is now the third-largest financial institution in Mexico by customer count.
Nu Holdings — Nu Holdings Ltd. Reports First Quarter 2026 Financial Results
- EgyptRegulation
CBE Monetary Policy Committee holds overnight deposit rate at 24%
The Monetary Policy Committee kept the policy rate unchanged at 24% citing residual inflation pressure and elevated global energy prices. The decision continues the cautious easing cycle after the 600bp emergency hike that accompanied the March 2024 float and signals comfort with the EGP corridor.
Central Bank of Egypt — Monetary Policy Committee Decision May 2026
- ChinaData
PBOC keeps LPR unchanged for 12th straight month; payments policy steady
The People's Bank of China kept the one-year loan prime rate at 3.0% and the five-year LPR at 3.5% for a twelfth consecutive month. The accompanying May briefing reiterated that non-bank mobile-payment growth has settled into single digits and that further policy focus is on cross-border RMB rails rather than domestic retail.
- CanadaMilestone
Interac confirms 2025 e-Transfer at ~1.6 billion transactions, up roughly 13%
Interac's annual Corporate Year in Review reported e-Transfer cleared roughly 1.6 billion transactions in 2025 across about C$610 billion of value. The Business Request Money feature posted an 81% year-on-year increase, with August 2025 setting a single-month record above 638 million transactions.
- PhilippinesData
Peso closes May at multi-year low as oil-import pressure tests BSP smoothing
USD/PHP traded near 61.7 in the week to 22 May after a 12-month slide of more than 11%. BSP officials have publicly framed intervention as smoothing rather than defending a level, but commentary out of the Monetary Board signals discomfort if depreciation passes through to inflation.
Bangko Sentral ng Pilipinas (BSP) — Daily Reference Exchange Rate Bulletin
- NigeriaRegulation
CBN MPC convenes 305th meeting amid easing inflation and stable naira
CBN Governor held the 305th Monetary Policy Committee briefing on 20 May 2026. Recent CBN consumer-expectations survey points to steady naira and easing interest rates through 2026; first MPC under conditions where lira-style intervention is not the dominant policy variable.
- ChileRegulation
CMF closes consultation on Sistema de Finanzas Abiertas payment-initiation rules
The Comisión para el Mercado Financiero closed industry consultation on the secondary norm governing payment-initiation services under Ley Fintec. Final publication expected Q3 2026 with a 9-month transition; commercial payment-initiation APIs targeted for early 2027 launch.
Comisión para el Mercado Financiero — Consulta Pública sobre el Sistema de Finanzas Abiertas
- GermanyLaunch
Worldpay (now Global Payments) joins EPI to enable Wero merchant acceptance
Global Payments — Worldpay's parent post-2025 merger — confirmed its EPI membership to support Wero acceptance across European merchants. The deal extends Wero's reach beyond bank-direct acceptance into the long tail of acquirer-served SME merchants, addressing the principal gating constraint on P2M volume.
Worldpay (Global Payments) — Worldpay Joins EPI to Enable Wero Payments for Merchants
- IndiaData
Rupee hits record low 97.15/USD on Mid-East risk premium
USD/INR touched 97.15 in early May before RBI intervention pulled the pair back to the 95.6 area by 22 May. The central bank confirmed dollar sales to state banks through the third week of the month, signalling a tolerated range rather than a defended level.
Trading Economics / RBI — Indian Rupee — Quote, Chart, Historical Data
- BangladeshData
Bangladesh Bank: FY2024-25 wage-earner remittance inflow at US$26.6bn — record high
Bangladesh Bank confirmed full-year FY2024-25 wage-earner remittance inflows at US$26.6bn, +22% YoY and the highest on record. Saudi Arabia (US$5.4bn), the UAE (US$4.7bn) and the US (US$3.5bn) led the five-corridor cluster. The surge reflects the July 2024 taka unification pulling informal hundi flows back into formal channels at parity.
- SpainLaunch
Bizum Pay launches phased in-store NFC rollout in Spain
Bizum Pay began a phased rollout of in-store NFC payments across Spain on 18 May, marking the wallet's first systematic move into physical retail. Coverage targets full availability across participating banks and merchants by end-2026; analyst forecasts put Bizum's three-year addressable share of physical-shop volume at 25–35%, in direct competition with Visa and Mastercard contactless.
Euronews / IndexBox — Spain's Bizum heads to the high street to take on Visa and Mastercard
- United StatesRegulation
Senate Banking takes up stablecoin yield markup language
Senator Tillis and Senator Alsobrooks signalled May markup of language permitting payment of yield on payment stablecoins, a carve-out the GENIUS Act explicitly excluded. The debate pits banks (deposit-substitution concern) against issuers and exchanges (parity with money-market funds).
- United KingdomRegulation
HM Treasury publishes Payments Forward Plan; PSR to be folded into FCA
The Payments Vision Delivery Committee — chaired by HM Treasury with Bank of England, FCA and PSR representation — published the Payments Forward Plan setting Q2 2026 as the start of a retail payments infrastructure design programme and confirming that the Payment Systems Regulator will be absorbed into the FCA. The plan also sequences Faster Payments and Bacs upgrades for end-2026 and a new Data (Use and Access) Act statutory instrument for Q4.
HM Treasury / British Retail Consortium briefing — HM Treasury Publishes the Payments Forward Plan
- South KoreaRegulation
Korea ruling party advances RWA + stablecoin rules under existing framework
The Democratic Party of Korea will advance tokenised real-world assets and stablecoins under current statutes, categorising stablecoins as a means of payment under the Foreign Exchange Transactions Act. The full Digital Asset Basic Law has slipped further into 2026 as the FSC and BOK continue to clash over stablecoin reserve oversight.
- AustraliaRegulation
RBA publishes implementation guidance for October surcharge ban
Following March's decision, the RBA published implementation guidance covering the 1 October surcharge ban, the 0.30% wholesale interchange cap and the April 2027 foreign-card cap. Acquirers must repaper merchant contracts before September; the ACCC will lead enforcement on residual surcharging post-October.
Reserve Bank of Australia — Implementation Guidance — Surcharge Ban and Interchange Cap
- IndonesiaData
QRIS reaches 7.83B YTD transactions, 45.3M merchants, 63M users
Bank Indonesia confirmed YTD-May 2026 QRIS aggregates of 7.83 billion transactions, 45.3 million merchants and 63 million users against its '17-8-45' 2026 targets. The full-year run-rate would top the 17 billion target if April-May momentum holds.
Jakarta Globe / Bank Indonesia — Bank Indonesia Targets 60 Million QRIS Users in 2026
- SwitzerlandMilestone
SIC5 Phase 2 onboarding crosses 63 institutions; ~95% of retail volume covered
SIX reported SIC5 Phase 2 had onboarded 63 financial institutions covering more than 95% of Swiss retail payment transactions; the remaining banks must complete integration by the November 2026 FINMA deadline. The full-coverage milestone is the gating step for SIC5 to compete with TWINT for high-value retail and SME flows.
FinTech News Switzerland — Payments in Switzerland: Phase 1 of SIC IP Implementation
- VietnamData
NAPAS publishes Q1 2026 statistics — instant transfers tracking +27%
NAPAS reported Q1 2026 instant-transfer volume +27% YoY with value growth around +8%. VietQR remains the headline driver, with daily QR transfers up 85% YoY into the spring.
- EgyptRegulation
FRA approves fintech licences for six firms across digital finance
The Financial Regulatory Authority cleared six companies for fintech-driven activities including digital money-market accounts, custody, and SME finance. Granite, Valu and CFH/Beltone are among the recipients; the cohort consolidates Law 5 of 2022 as the operating regime for non-bank consumer finance.
Egypt Today — FRA approves fintech licenses for six companies
- BrazilData
Nu Holdings Q1 2026: Brazil customer base reaches 115M; group revenue clears US$5bn
Nu's Q1 2026 results put Brazilian customers at 115 million — solidifying its status as the country's largest private financial institution by customer count. Group revenue cleared US$5bn for the first time; net income reached US$871m at a 29% return on equity. Mexico operations reached breakeven at 15 million customers.
Nu Holdings — Nu Holdings Ltd. Reports First Quarter 2026 Financial Results
- ItalyData
Banca d'Italia: SCT Inst now 38% of total SCT volume in Italy
Banca d'Italia's Q1 2026 payment-systems release reported SCT Inst at 38% of total SCT volume in Italy, up from 32% at end-2024. The continued share gain since the October 2025 send-mandate is consistent with mandate-driven routing rather than discretionary consumer choice; absolute SCT Inst volume now runs at roughly 1bn/year annualised.
- TurkeyRegulation
CBRT suspends forward inflation-band guidance citing Iran-conflict uncertainty
Governor Fatih Karahan announced CBRT would pause publishing inflation forecast ranges and revised the year-end 2026 inflation forecast higher to 26%. Reserves trajectory and FX intervention path remain in focus; the move re-prices forward-curve assumptions for every Turkish payments operator.
Central Bank of the Republic of Türkiye (TCMB) — Inflation Report Q2 2026 Press Briefing
- ArgentinaData
INDEC: April inflation 2.6% MoM, first deceleration in 10 months
INDEC reported a 2.6% MoM print for April, decelerating from the 3.4% March figure and ending a 10-month streak of rising monthly inflation. Year-on-year inflation eased to 32.4%, second consecutive interannual moderation. The Q1 cumulative 9.4% has effectively consumed the government's 10.1% annual target.
- ThailandRegulation
BOT minutes warn against broad consumption stimulus as Mid-East war shifts inflation outlook
April-meeting minutes published 13 May show the Monetary Policy Committee viewing demand-side support as temporary at best and urging fiscal space to be preserved. Inflation forecast lifted to 2.9% for 2026 on higher imported energy prices.
Bloomberg — Thai Rate Panel Warns Against Broad Economic Stimulus as War Unfolds
- JapanMilestone
PayPay debuts on Nasdaq after Visa strategic partnership
PayPay completed its US listing on Nasdaq in March, with three Wall Street firms (Jefferies, Bank of America, Wolfe Research) initiating Buy-equivalent ratings by mid-May implying 20–30% upside. The Visa strategic partnership announced 12 February has been positioned as the cross-border acceptance flywheel for PayPay's outbound product.
American Banker — Japanese App PayPay Announces US IPO and Visa Partnership
- NetherlandsMilestone
Dutch merchants complete iDEAL | Wero co-brand logo switchover
Following the 31 March mandatory deadline for Dutch merchants to display the combined iDEAL | Wero logo at checkout, EPI confirmed industry-wide compliance. The shared mark will appear through end-2027 as the underlying transaction routing migrates progressively from Currence iDEAL infrastructure to Wero on SEPA Instant rails.
- Saudi ArabiaData
SAMA: e-payments hit 85% of retail in 2025 — Vision 2030 target exceeded
SAMA's 2025 annual payments figures put electronic payments at 85% of total retail transactions, up from 79% in 2024 and well ahead of the 70%-by-2030 Vision 2030 target. Total transactions rose to 14.6bn from 12.6bn in 2024 — the largest single-year volume gain on record.
Saudi Press Agency / SAMA — SAMA: E-Payments Account for 85% of Total Retail Payments in 2025
- Hong KongRegulation
HKMA opens second-batch stablecoin licence consultation
Following the first-batch grants to HSBC and Anchorpoint Financial in April, HKMA published indicative timetable and supervisory expectations for a second batch of licence applications. Industry consortium activity around HKD- and USD-pegged issuances is picking up; HKMA's Eddie Yue used the 10 April insight piece to underline the focus on transparent reserve-quality and real-economy use cases.
- SingaporeRegulation
MAS confirms drafting full stablecoin legislation in 2026
MAS reiterated in a Central Banking interview that draft legislation putting the 2023 single-currency-stablecoin framework into statute will be circulated for consultation later in 2026. The bill will codify reserve-asset rules and redemption timelines for SGD- and USD-pegged stablecoins.
Central Banking — MAS to issue tokenised bills and draft stablecoin law
- DenmarkMilestone
Vipps MobilePay 'Get Paid' lets MobilePay numbers accept card payments
MobilePay users in Denmark with a MobilePay number can now accept card payments directly on their phone via the Get Paid app, free of charge. The feature extends the mobile-acceptance posture used by Bancontact Pay and is part of the post-platform-merger product velocity.
MobilePay (Vipps MobilePay) — Nu kan man modtage kortbetalinger med MobilePay-nummer
- United Arab EmiratesLaunch
CBUAE launches world-first sovereign financial cloud with Core42
Central Bank of the UAE unveiled a nationally controlled financial cloud infrastructure, built with G42 subsidiary Core42, to host critical banking data and applications. Part of the wider Financial Infrastructure Transformation (FIT) programme; replaces selective use of hyperscaler clouds with a sovereign alternative for Tier-1 regulated workloads.
Khaleej Times — CBUAE Unveils World-First Sovereign Financial Cloud
- KenyaLaunch
CBK launches M-Pesa payment for Treasury bills and bonds up to KES 250,000
Central Bank of Kenya enabled M-Pesa as a direct payment rail for Treasury-bill and bond subscriptions up to KES 250,000, broadening retail-investor access via DhowCSD wallets without bank intermediation. Extends Safaricom's rail into retail capital-markets distribution.
The Kenya Times — CBK Launches M-Pesa Payments For Treasury Bills And Bonds Of Up To Ksh250,000
- CanadaRegulation
Payments Canada Q1 2026 RTR update flags Q4 2026 first-phase access
In a quarterly update with COO Jude Pinto, Payments Canada said the Real-Time Rail is in performance, security and resilience testing in Q1 2026 after completing system integration testing in Q4 2025. Phased participant access starts Q4 2026, with broader availability through 2027. Wise, Float, Paramount Commerce, KOHO and Brim were named as recent PSP joiners.
Payments Canada — Canada's Real-Time Rail Quarterly Update with Jude Pinto: 2026 Q1
- IndonesiaData
QRIS volume +108% YoY in April 2026 — Bank Indonesia
Bank Indonesia's April monthly print showed QRIS transactions up 108.43% YoY, building on the 131.47% January expansion. Volume growth has decelerated as the base effect builds but remains the fastest of any large emerging-market QR rail.
Infobanknews — Transaksi QRIS Melesat 108,43 Persen di April 2026
- TaiwanMilestone
Apple Pay ECP transit set for July 2026 Taipei Metro launch
Taipei Metro confirmed that Apple Pay Express Contactless Protocol and open-loop credit-card acceptance will go live across the network in July. The change opens Taiwan's largest single transit footprint to international wallets and pressures iPASS / EasyCard stored-value share; the 7-bank Apple Pay launch cohort (Taipei Fubon, Cathay United, E.Sun, Taishin, CTBC, Standard Chartered, Union Bank of Taiwan) holds the initial provisioning advantage.
Focus Taiwan — Taipei Metro to Allow Payment by Credit Card in July 2026
- SwedenMacro
Riksbank holds rate at 1.75% for fifth consecutive meeting
The Riksbank kept its policy rate unchanged at 1.75%, the fifth consecutive hold. Inflation remains below target; the rate path is signalled flat through end-2026 absent a material shock.
- South AfricaM&A
SARB confirms purchase of 50% stake in PayInc (former BankservAfrica)
South African Reserve Bank officially became 50% co-owner of PayInc, the rebranded BankservAfrica, transitioning the operator toward a centralised National Payment Utility (NPU) for open digital-payments infrastructure. Moves SA governance closer to the BCB-Pix and RBI-NPCI model.
BusinessTech — Reserve Bank officially buys huge chunk of 53-year-old company in South Africa
- MalaysiaRegulation
BNM holds OPR at 3.00% — fifth consecutive hold
Bank Negara held the Overnight Policy Rate at 3.00% on 8 May, the fifth consecutive hold, citing benign domestic inflation and a moderating external outlook. The Monetary Policy Committee flagged Middle East energy risk as the main upside sensitivity.
- BangladeshRegulation
Bangladesh Bank holds repo rate at 10.00% — sixth consecutive hold
The Monetary Policy Committee held the repo rate at 10.00% citing sticky headline CPI at 8.2% and the need to anchor taka stability post-unification. The Bank reaffirmed the crawling-peg regime; gross FX reserves stood at US$22.5bn at end-April.
- GermanyData
Bundesbank: SCT Inst now 21% of total SCT volume in Germany
The Bundesbank's Q1 2026 payments release reported SEPA Instant credit transfers reached 21% of total SCT volume in Germany, up from 9% at end-2024. The growth is overwhelmingly IPR-driven — fee abolition at Sparkassen and cooperative banks closed the structural pricing gap that had suppressed instant adoption since 2017.
- PolandMacro
NBP holds reference rate at 3.75% citing Iran-conflict energy effects
The MPC kept rates unchanged for the second consecutive meeting, after the 25bp cut in March. April inflation at 3.2% sits near the upper bound of the 1.5–3.5% target band; the Governor's communication shifted from easing-bias to wait-and-see.
- BelgiumData
NBB H1 2026 statistics show Bancontact mobile share above one-in-four
The National Bank's first-half payment statistics confirmed that mobile-initiated Bancontact transactions crossed 25% of total Bancontact volume, up from 20% a year earlier. The acceleration is attributed to the merger of Payconiq into Bancontact Pay and to the IPR-driven push to instant-settled payment flows.
National Bank of Belgium — Financial Market Infrastructures and Payment Services Report 2025
- ChinaMilestone
CIPS passes 193 direct participants across 100+ countries
CIPS reported 193 direct and 1,573 indirect participants by end-Q1 2026. 2025 annual business volume reached RMB 175 trillion (about US$24.5 trillion), up 43% year-on-year, with average daily value crossing RMB 650 billion. Singapore's three major banks joined as direct participants during the quarter, deepening Southeast Asian RMB clearing capacity.
- PakistanMilestone
Raast cumulative transaction value crosses Rs50 trillion
SBP's Financial Stability Review for 2025, summarised by ProPakistani on 5 May, put cumulative Raast value just shy of Rs50T with the user base at ~48m. Person-to-person flows accounted for most of the volume, but the merchant subsidy is beginning to register.
- FranceData
Banque de France: SCT Inst volume up 120% YoY post-IPR mandate
Banque de France's Q1 2026 payments bulletin confirmed SCT Inst volumes in France rose 120% year-on-year following the IPR's October 2025 entry into force on the sending side. Instant now represents roughly 8% of total SCT volume; Banque de France attributes the jump to fee parity rather than consumer demand.
- MexicoData
Banxico: Q1 2026 remittances up 1.4% to US$14.46bn after 2025 contraction
Q1 2026 inflows totalled US$14.46 billion across 35.71 million transfers, up 1.4% year-on-year — the first quarterly rise after the 4.6% full-year drop in 2025. March posted US$5.39 billion, up 4.9%. Average transfer rose 5.6% to US$405; electronic transfers carried 99% of value.
Banco de México — Información de Ingresos y Egresos por Remesas — marzo 2026
- EgyptData
Net international reserves reach US$53.0bn — multi-year high
CBE end-April reserves hit US$53.0bn, up from US$35bn at the March 2024 float. IMF EFF disbursements, GCC bilateral support and the Ras El-Hekma development deal underpin the rebuild; the cushion gives policy further room on EGP corridor management.
Central Bank of Egypt — Net International Reserves — April 2026
- IndiaData
UPI April 2026 — 22.35bn transactions, ₹29.03 lakh crore cleared (+25% YoY)
NPCI's April data shows UPI volume at 22.35bn — marginally below March's all-time-high 22.64bn on the shorter calendar month. Cleared value reached ₹29.03 lakh crore. P2M continued to outpace P2P in growth.
April 2026
- United KingdomMilestone
First live commercial VRP transactions under UK Payments Initiative scheme
The industry-led UK Payments Initiative (UKPI) commercial Variable Recurring Payments scheme processed its first live transactions in April. The launch shifts cVRP from a JROC pilot framework into a published rulebook that PISPs and ASPSPs can join commercially, opening A2A subscription and one-off pay-by-bank use-cases previously stuck behind sweeping-only rules.
Open Banking Expo — UK Open Banking payments ecosystem: New cVRP scheme is welcome step
- SpainData
Banco de España: 50.4% of bank-transfer payments now route via Bizum
Banco de España statistics showed Bizum accounted for 50.4% of bank-transfer payments in Spain in early 2026, against 28.8 million active users at April figures. Iberpay, which clears 99% of Spanish bank flows, processed 3.19 billion payments in 2025 with SCT Inst the fastest-growing segment.
Stripe / Banco de España data — Bizum: What businesses in Spain need to know
- IndonesiaLaunch
QRIS-China cross-border QR corridor goes live
Bank Indonesia and the People's Bank of China launched the QRIS-China cross-border payment system in Jakarta on 30 April. Alipay and UnionPay App users can scan more than 40 million QRIS merchants in Indonesia; QRIS-supported apps can scan over 80 million Alipay/UnionPay QR codes in China. Settlement runs on IDR-CNY local-currency rails.
- United Arab EmiratesLaunch
CBUAE, ICP and ADCB launch tourist digital bank-account opening service
Tourist Identity initiative enables non-resident visitors to open digital bank accounts on arrival, with Aani and Jaywan integration. Joint launch between CBUAE, the Federal Authority for Identity and ADCB; closes a gap that had pushed visiting-foreign-worker remittance volume into informal channels.
Gulf Today — CBUAE, ICP, ADCB launch digital bank account opening through Tourist Identity
- ThailandRegulation
BOT holds policy rate at 1.00% — lowest since 2022
The Monetary Policy Committee held the benchmark rate at 1.00% at its April meeting, leaving borrowing costs at a near four-year low. The Committee framed the current setting as appropriate to support recovery while inflation pressure is primarily supply-side.
- South AfricaRegulation
Cabinet approves COFI Bill submission to Parliament
The Conduct of Financial Institutions (COFI) Bill cleared Cabinet for parliamentary submission in April 2026 alongside the parallel NPS Act rewrite; rebases conduct supervision across SA's financial sector. Together with the NPS Bill, completes the legislative package SARB has signalled since 2022.
Werksmans Attorneys — Payments Revolution: what every PSP operating in South Africa needs to know
- ColombiaMilestone
Bre-B passes 500m cumulative transactions; ACI Worldwide and BanRep present at Fintech Americas
Banco de la República and ACI Worldwide presented Bre-B's adoption trajectory at Fintech Americas 2026 in Miami: more than 500 million cumulative transactions by early April 2026, six months after full-scale launch, with 218 participating institutions and 103 million registered aliases. ACI Worldwide is the rail's core processor.
ACI Worldwide / Intelligent Fin.tech — Colombia's Bre-B Hits More than 500 Million Transactions
- BrazilData
ABECS Q1 2026: card spend +8.3% to R$1.1tn; contactless 75% of in-person
ABECS's Q1 2026 sector balance showed total card spend at R$1.1 trillion (+8.3% YoY) on 11.7 billion transactions. Credit led at R$810.2bn (+12.8%) while debit fell 2.4% to R$236bn under continued Pix substitution. Contactless captured 74.8% of in-person card volume at R$504.8bn (+19.3%). ABECS projects 2026 card spend at R$5tn (+9.5–11.5%).
- ItalyMilestone
PagoPA crosses 800m annualised transactions on Q1 run-rate
PagoPA reported a Q1 2026 transaction run-rate implying 800m annualised, up from 700m in 2024. New API-first integrations with regional health authorities (ASL Lombardia, ASL Lazio) drove the largest single-quarter onboarding since the platform's 2020 launch.
- NigeriaData
Naira hits N1,390/$ in parallel market — best-performing Africa YTD
As of 28 April 2026, the naira appreciated 6.7% against the dollar year-to-date — the best-performing African currency — while trading N1,383/$ at the official NFEM window. IMTO settlement reforms and NFEM-window deepening pulled informal-market flows formal.
- ChileData
Q1 2026 acquiring share: Transbank 47%, Getnet 22%, Klap 15%, Mercado Pago 11%
First-quarter merchant-acquiring volume disclosed by Transbank, Getnet, Klap and Mercado Pago put Transbank below the 50% threshold for the eighth consecutive monthly print. The four-party model that Ley 21.365 and TDLC Resolución 86 set out is now an observable market structure, not a regulatory aspiration.
Diario Financiero — Cifras de adquirencia Q1 2026 — Transbank consolida pérdida de participación
- PakistanRegulation
SBP hikes policy rate 100bp to 11.5% — first hike since June 2023
The Monetary Policy Committee surprised consensus with a 100bp hike to 11.5%, citing March CPI of 7.3% — the highest since August 2024 — and Mid-East-driven energy pressure. The decision interrupts a year-long easing cycle and complicates the IMF EFF baseline.
- IsraelMilestone
Israel Tech Week Miami opens with 45+ VCs targeting fintech, AI tracks
Second-edition Israel Tech Week in Miami runs 27-30 April with fintech among nine featured sectors. Boldstart Ventures, Blumberg Capital and Qumra Capital among confirmed LPs; the event has emerged as the leading US-facing showcase for Israeli fintech post-October 2023.
- United StatesRegulation
OCC issues NPR implementing GENIUS Act for federally chartered issuers
The Office of the Comptroller of the Currency released its notice of proposed rulemaking on payment stablecoin issuance by national banks, federal savings associations and federal branches. Comment period runs through summer 2026; final rules expected late 2026.
- JapanLaunch
PayPay enables outbound QR payments in Taiwan via TWQR interoperability
PayPay launched its Overseas Payment Mode in Taiwan, allowing the wallet's 65 million Japanese users to scan TWQR-tagged merchants. The corridor opens against the backdrop of record Japan-Taiwan tourist flows and is PayPay's first outbound QR market beyond the legacy Japan-Singapore NETS link.
SoftBank — PayPay Customers Can Now Make Mobile Payments in Taiwan
- GermanyMilestone
Wero e-commerce goes live in Germany via Sparkassen and Volksbanken
EPI confirmed Wero e-commerce as live in Germany, deployed through Sparkassen and Volksbanken/Raiffeisenbanken; Postbank, Deutsche Bank, ING Deutschland and Revolut are scheduled to follow during 2026. Germany now hosts the first live merchant-acceptance footprint for Wero outside the original P2P scope.
- TaiwanLaunch
PayPay (Japan) corridor goes live on TWQR for inbound Japanese tourists
Japan's PayPay enabled outbound QR payments at TWQR-tagged Taiwanese merchants. The integration was scheduled to go fully operational by end-April per FISC's interoperability roadmap; it follows the FPS-PromptPay corridor pattern and is PayPay's first outbound QR market outside the Japan-Singapore NETS link.
SoftBank — PayPay Customers Can Now Make Mobile Payments in Taiwan
- MalaysiaData
PayNet 2025 report — 8.44 billion digital transactions (+34%)
PayNet's full-year 2025 press release confirmed 8.44 billion processed digital transactions, with bank volumes +30.7% and non-bank volumes +71.7%. DuitNow QR alone doubled to 3 billion transactions; 681,250 new acceptance points added, of which 267,780 were MSMEs.
- CanadaData
Bank of Canada 2024 MOP survey: cash holds at 21% of POS volume, 11% by value
The Bank of Canada released the 2024 Methods-of-Payment Survey Report. Cash use remained essentially flat against 2020–2023, at about 21% of POS transactions by volume and 11% by value. Average wallet cash holdings rose 11% in nominal terms to C$156. Cash is third-ranked at POS behind debit and credit.
Bank of Canada — 2024 Methods-of-Payment Survey Report: Cash in an Era of Alternatives
- South KoreaMilestone
New BOK governor Shin Hyun-song centres CBDC and bank tokens, skips stablecoins
Former BIS chief economist Shin Hyun-song was formally appointed Bank of Korea governor on 22 April. In his maiden policy address the next day he signalled a clear preference for CBDC and bank-issued deposit tokens over privately-issued stablecoins, reinforcing the Han-gang trajectory and putting BOK further at odds with the FSC's stablecoin licensing instinct.
CoinDesk — Bank of Korea's New Governor Signals CBDC and Bank Token Push, Skips Stablecoins
- AustraliaLaunch
A2A Payments Roundtable publishes draft vision for consultation
The Account-to-Account Payments Roundtable — convened by AP+, RBA and Treasury — published its draft vision for the future of A2A payments in Australia for public consultation. The vision centres on PayTo as the recurring-payment default and frames a target retirement window for the legacy direct-entry system before 2030.
Reserve Bank of Australia — Roundtable Opens Public Consultation on Draft Vision for A2A Payments
- NetherlandsLaunch
First iDEAL-Wero payments processed in the Netherlands
ABN AMRO confirmed the first live retail payments processed under the new iDEAL-Wero flow from April 2026. Most major Dutch banks now support Wero for e-commerce; technical transactions continue to settle through iDEAL routing in this phase with full Wero rail switchover scheduled progressively through 2027.
- Saudi ArabiaRegulation
SAMA Open Banking phase-2 payment-initiation go-live confirmed for June 2026
SAMA reconfirmed the June 2026 mandatory go-live for payment-initiation services under the Open Banking Framework; 11 licensed banks have completed technical certification with Lean Technologies, Tarabut and Mod5r as authorised TSPs. The framework opens sarie-rail payment initiation to non-bank developers for the first time.
Saudi Central Bank (SAMA) — Open Banking Framework — Phase 2 Implementation
- SwitzerlandMilestone
UBS integration of Credit Suisse retail payments completes
Final Credit Suisse legacy payments customers migrated to UBS rails in late April. ~2.1m account closures or migrations were completed over 25 months since the March 2023 takeover; UBS reported the operational consolidation as complete in its Q1 2026 update. Credit Suisse no longer exists as an operating brand anywhere in the Swiss payments stack.
- PolandLaunch
BLIK Slovak e-commerce pilot moves to friends & family testing
After initial March pilot transactions, BLIK opened a friends-and-family test of euro payments at Slovak online merchants in April. Currency conversion is shown to the Polish payer pre-confirmation; Tatra Banka and PayU are the integration partners. End-2026 rollout will let Slovak users pay at Polish merchants.
Polski Standard Płatności (BLIK) — 21 million BLIK users gain access to e-commerce in the eurozone
- SwedenRegulation
Riksbank to launch offline-card payments for essential goods from 1 July
Governor Erik Thedeen confirmed that from 1 July 2026, offline card payments for essential goods will be possible under a Riksbank-led framework. The Bank also said it had begun investigating offline functionality for Swish.
- DenmarkRegulation
Nationalbanken confirms 7-day offline-card contingency at Danish supermarkets
The Payments Council (Betalingsrådet) published a status report confirming that all Danish adults can pay with physical Dankort/Visa/Mastercard cards or mobile wallets for at least seven days at major supermarket chains if card payment infrastructure or the internet goes down. Pharmacies are scheduled to follow in Q3 2026.
Danmarks Nationalbank — Status of the card payment contingency measure in Denmark
- BangladeshMilestone
bKash crosses 75 million registered users; merchant base above 470,000
bKash confirmed registered users above 75 million in April updates, with merchant acceptance points above 470,000. Q1 transaction volume rose ~24% YoY; BRAC Bank Q1 disclosures reaffirmed bKash's profit trajectory after the 2024 cost-base reset.
- BelgiumLaunch
MobilePay-style 'Get Paid' goes live in Belgium via Bancontact Pay
Bancontact Company switched on a receive-by-phone-number flow for sole traders and clubs inside the rebranded Bancontact Pay app, mirroring the model Vipps MobilePay introduced in the Nordics. Card and Bancontact acceptance routes through Worldline's domestic switching.
- TurkeyRegulation
CBRT holds policy rate at 37% for second consecutive meeting
Monetary Policy Committee left the policy rate unchanged at 37% in April, continuing the pause to a five-cut easing cycle that began Q4 2025; energy prices and geopolitical risk cited.
- ChinaRegulation
PBOC and NFRA publish e-CNY interest-bearing implementing guidance
PBOC and the National Financial Regulatory Administration issued implementing guidance for the interest-bearing e-CNY regime that took effect 1 January 2026. Commercial banks distributing the e-CNY may pay up to 0.05% on real-name wallet balances; e-CNY balances now fall inside the deposit-insurance perimeter, shifting the instrument from cash-equivalent toward a digital-deposit hybrid.
- United KingdomRegulation
Open Banking Future Entity selection enters final stage
JROC moved to final-stage selection of the body that will take over from Open Banking Limited as the standards owner under the Data (Use and Access) Act framework. The Future Entity will inherit OBL's API specifications, conformance regime and roadmap, with funding moving from the CMA9 to an industry-wide levy administered by the FCA.
FCA — Regulators give clarity on open banking pricing models
- MexicoMilestone
DiMo crosses 11M users; Banxico standalone site goes live
Banxico's standalone DiMo site went live alongside confirmation that user count had crossed 11 million in Q1 2026 across more than 20 participating institutions. CoDi remains in maintenance mode with no further feature investment, leaving DiMo as the consumer Pix-equivalent overlay on SPEI.
Mexico Business News — Banxico Unveils Dimo App Website, Hits 11 Million Users
- TaiwanData
CBC: TWD appreciated 2.1% vs USD in Q1 on TSMC-led export surplus
CBC's April financial conditions release recorded TWD appreciation of 2.1% against the dollar in Q1 2026, driven by sustained TSMC-led export surplus. The central bank reiterated its 'managed float — smoothing only' position; the FX surplus is now feeding into FSC stress-test design for the 2026 banking cycle.
Central Bank of the Republic of China (Taiwan) — CBC — Financial Conditions April 2026
- PolandData
BLIK Q1 2026 transactions up 24%; H1 2025 cleared €48.8bn equivalent
BLIK closed 2025 just below 3bn transactions and Polski Standard Płatności reported revenue of PLN 421m and net profit of PLN 205.9m. Q1 2026 momentum extended the run with H1 2025 contactless transactions up 86% YoY off a small base.
Polski Standard Płatności (BLIK) — Nearly 3 Bn BLIK Transactions in 2025 and Over 2 M New Users
- ArgentinaData
INDEC: March inflation 3.4% MoM, highest reading in a year
March's print of 3.4% MoM was the highest monthly inflation since March 2025. Regulated prices led at 5.1%; core inflation came in at 3.2%. The reading complicated BCRA's rate-cutting cycle and forced Finance Minister Caputo to pre-empt the figure with public messaging about IMF talks.
Buenos Aires Times — Inflation continues to accelerate: consumer prices rose 3.4% in March
- GermanyMilestone
Wero passes 13m users across the EPI footprint
EPI announced Wero had crossed 13m registered users across Germany, France, Belgium and the Netherlands. Germany accounts for roughly a quarter. Merchant-side rollout — still the gating step for P2M volume — is now scheduled for broader availability in H2 2026.
- United Arab EmiratesMilestone
Aani reaches 12.5m users with 3-second average instant transfer
CBUAE confirmed Aani crossed 12.5m users in April 2026, with average end-to-end transfer settlement of three seconds. All major UAE banks integrated; QR, account alias and P2M flows live across the merchant fleet.
Central Bank of the UAE (CBUAE) — Aani Statistics April 2026
- SingaporeRegulation
MAS tightens S$NEER for the first time since 2022
MAS marginally raised the slope of the S$NEER policy band, the first tightening since October 2022, citing higher imported energy and chemicals costs after Strait of Hormuz disruption. Band width and centre were unchanged.
Monetary Authority of Singapore (MAS) — MAS Monetary Policy Statement — April 2026
- IsraelRegulation
BOI publishes Digital Shekel design responses analysis
Bank of Israel released its analysis of public and industry responses to the March 2025 preliminary CBDC design document. Yoav Soffer's team reiterated end-2026 hand-up of a launch recommendation to the Governor; offline functionality and holding limits are the live design questions.
Bank of Israel — Digital Shekel — Public Consultation Analysis
- Saudi ArabiaM&A
PIF previews 2026 Tadawul IPO wave anchored by Tabby and Tamara
Saudi Public Investment Fund signalled a heavy 2026 IPO pipeline on Tadawul, with Tabby and Tamara among the headline fintech listings. Both BNPLs relocated HQs to Riyadh ahead of the offerings; pricing intentions implied a combined ~US$5bn deal value if the window holds.
Semafor — Saudi's Sovereign Wealth Fund Preps for Wave of IPOs
- South KoreaLaunch
Korea issues oil-relief card payments to 70% of population via local SMB caps
The government rolled out targeted oil-relief payments of ₩100k–600k to roughly 32.56 million people in the bottom 70% of income earners. Funds are loaded onto recipients' existing credit/debit cards and credited the day after application; spend is geofenced to local SMBs with turnover under ₩3bn, putting Card Finance Association tracking infrastructure in the disbursement spotlight.
UPI — South Korea to Give Oil-Price Relief Payments to 70% of Citizens
- NetherlandsMilestone
Wero crosses 2.6m users in the Netherlands 21 months after launch
EPI reported Wero passed 2.6 million Dutch users in Q1 2026, accelerating from 1.8 million at the start of the year. Dutch uptake has outpaced Belgium and Germany, reflecting the incumbent bank consortium's iDEAL distribution. ING and Rabobank customers are largely onboarded; ABN AMRO and SNS still mid-rollout.
- VietnamRegulation
SBV holds refinancing rate at 4.5% — fourth consecutive hold
The State Bank of Vietnam held its refinancing rate at 4.5% on 12 April, citing low inflation but flagging external-balance pressure from a weakening dong. Tightening bias signalled in the accompanying statement.
State Bank of Vietnam (SBV) — Monetary Policy Statement — April 2026
- EgyptLaunch
InstaPay raises single-transfer cap to EGP 100,000 for verified users
The CBE raised the per-transaction ceiling for KYC-verified InstaPay users from EGP 70,000 to EGP 100,000, designed to push more merchant-payment use cases onto the rail. Daily and monthly limits are unchanged for the standard tier.
- SpainM&A
BBVA-Sabadell review enters final Spanish Treasury phase after 23-month standoff
Spain's government convened its final review of BBVA's hostile bid for Banco Sabadell, after the Treasury deployed a rarely-used national-interest veto power that stopped the deal in October 2024. BBVA has signalled willingness to accept further structural remedies — potential divestment of Sabadell's TSB UK unit and PSD2 API licensing obligations — in pursuit of a combined entity that would hold 26% of Spanish card issuance and command Bizum governance outright.
Ministerio de Economía, Comercio y Empresa — Operación BBVA-Sabadell
- FranceData
OSMP 2024 annual report: card fraud declines 9% as SCA matures
Banque de France's payment security observatory released its 2024 report, showing a 9% year-on-year drop in card fraud to €464m. CNP fraud — still 78% of total — fell in absolute terms for the second consecutive year as 3DS coverage held above 92%.
- SwedenData
Klarna Q1 2026 swings to net profit on 138% Fair Financing GMV growth
Klarna posted its first full quarter of net profit since the IPO, with Fair Financing gross merchandise volume up 138% year on year. The stock remains ~62% below its September 2025 NYSE debut despite the operating swing.
- Hong KongRegulation
HKMA grants first stablecoin licences to HSBC and Anchorpoint Financial
HKMA granted the inaugural Stablecoins Ordinance licences to HSBC and Anchorpoint Financial Limited (a Standard Chartered + HKT + Animoca Brands joint venture). HSBC plans to launch a HKD-denominated stablecoin in H2 2026. Of the 36 applicants by the 30 September 2025 deadline, the two grants make Hong Kong the first G20 jurisdiction with a live licensed fiat-backed stablecoin issuance regime.
Hong Kong Monetary Authority — Granting of Stablecoin Issuer Licences
- ThailandLaunch
Thailand-Taiwan cross-border QR corridor opens
BOT and Taiwan's NCCC opened a TWQR-Thai QR bilateral corridor in April, extending Thailand's ASEAN-plus QR mesh to its tenth jurisdiction. Inbound Taiwanese tourists can scan domestic Thai QRs in their bank apps at interbank FX.
- PhilippinesData
BSP confirms online payments hit 57.4% of retail transaction volume in 2024
The latest Status of Digital Payments report puts online share of monthly retail transactions at 57.4% by volume and 59% by value in 2024, up from 52.8%/55.3% in 2023. BSP reiterated the 60-70% by 2028 target.
Bangko Sentral ng Pilipinas (BSP) — Status of Digital Payments 2024 Annual Report
- South AfricaMilestone
SARB hosts 2026 Payments Ecosystem Modernisation dialogue; demos PEMKey
SARB convened the first 2026 PEM Industry Dialogue on 9-10 April 2026, updating industry on regulatory-reform progress, the QR+ standard development and a working demonstration of PEMKey for trusted interoperable digital-payment credentials. PEMKey is intended to bind the long-fragmented merchant-QR ecosystem (Snapscan, Zapper, Yoco).
South African Reserve Bank (SARB) — Payments Ecosystem Modernisation Programme
- ChileMilestone
MACH crosses 5 million users; BCI accelerates wallet credit roll-out
BCI's Q1 2026 release put MACH active users above 5 million for the first time. The bank disclosed a faster ramp of MACH-issued unsecured credit lines after the wallet-to-bank conversion completed in 2023; default rates remain inside management guidance.
- IndiaRegulation
RBI holds repo rate at 5.25% for second consecutive meeting
The MPC left the repo rate unchanged at 5.25% in April, the first decision of fiscal year 2026/27. The MPC retained its neutral stance with the Governor flagging that real rates remain elevated and FY27 inflation revisions are marginal.
- ItalyRegulation
ECB holds deposit rate at 2.50% after six consecutive cuts
The ECB Governing Council held the deposit facility rate at 2.50% in its April policy meeting, after six consecutive cuts spanning June 2024 to March 2026. Italian bank net-interest-income trajectories — heavily exposed to ECB policy — flatten from here, with sell-side consensus modelling 5–8% NII compression at the major lenders through 2027.
European Central Bank (ECB) — ECB Monetary Policy Decision April 2026
- IndonesiaLaunch
QRIS cross-border corridor with Japan enters live-phase pilot
Bank Indonesia and Bank of Japan activated the first phase of QRIS-JP cross-border payment interoperability. Initial deployment limited to Bali and Jakarta; full national rollout scheduled for Q3 2026. Korea and India remain on the 2026 corridor schedule.
- SingaporeData
PayNow-PromptPay corridor — Q1 2026 4x launch-quarter volume
MAS published cross-border PayNow data showing the PayNow-PromptPay corridor processing four times the Q1 2021 launch-quarter volume by Q1 2026. The Thailand corridor remains the largest single PayNow bilateral, ahead of PayNow-UPI and PayNow-DuitNow.
Vietnam+ / MAS — Singapore enjoys benefits from cross-border payment links
- SwitzerlandRegulation
WEKO reaffirms 0.40% credit interchange cap through 2028 review
The Swiss Competition Commission (WEKO) reaffirmed its voluntary agreement with Visa and Mastercard maintaining the 0.40% domestic credit interchange cap, in force through the next 2028 review. The decision keeps Swiss MDR among the lowest in Europe despite Switzerland's non-EU regulatory status and CHF non-SEPA position.
WEKO (Swiss Competition Commission) — WEKO Interchange Decisions
- ArgentinaM&A
Lemon raises US$60M Series B extension; PSAV expansion plan
Crypto-and-stablecoin operator Lemon closed a US$60M Series B extension to expand its PSAV-licensed retail and B2B stablecoin payments footprint. The raise supports a planned Mexico and Colombia rollout and additional acquiring partnerships under T3.0 QR rails.
- KenyaRegulation
CBK MPC holds CBR at 8.75% — pauses 10-cut easing streak
Monetary Policy Committee retained the Central Bank Rate at 8.75% on 8 April 2026, the first hold after ten consecutive cuts since June 2024; Middle East conflict and rising global energy prices cited as risks.
Kenyan Wall Street / CBK — CBK Holds Rate at 8.75% as Middle East Risks Mount
- ColombiaRegulation
SFC closes consultation on Bre-B merchant-presented QR standard
Superintendencia Financiera de Colombia closed industry consultation on the merchant-presented QR specification for Bre-B. The standard aligns Bre-B QR with EMVCo-style encoding and assigns Banco de la República and the SPBVI clearing houses joint responsibility for the merchant directory. Commercial roll-out targeted for Q3 2026.
Superintendencia Financiera de Colombia — Consulta sobre Estándar QR Bre-B
- MalaysiaMilestone
Project Nexus Scheme Organisation formally constituted
BIS confirmed in April that Bank Negara, MAS, BOT, BSP, RBI and the five domestic IPS operators had signed the foundational documents for the Nexus Scheme Organisation. Pilot retail flows scheduled for H2 2026; Malaysia's DuitNow is the first system to be integrated in the test environment.
Bank for International Settlements — Project Nexus — enabling instant cross-border payments
- TurkeyData
Turkey reserves drop US$43bn in March — largest one-month decline on record
CBRT data showed official reserves fell US$43.4bn in March 2026 as the bank intervened to defend the lira; combined gold sales and swaps amounted to ~US$20bn over February-March. The single-month draw exceeds every prior intervention episode in the CBRT historical series.
- IndiaMilestone
UPI marks ten years — most-used real-time rail globally
NPCI and the Press Information Bureau marked UPI's tenth anniversary with a retrospective citing UPI as the world's largest real-time payments platform. Cumulative cleared value through FY25 crossed ₹260 lakh crore.
- MexicoData
Banxico confirms 2025 remittances fell 4.6% to US$61.8bn — biggest annual drop in 16 years
Full-year 2025 inflows totalled US$61.8 billion, the largest annual decline since 2009. Electronic transfers accounted for 99.1% of total; account deposit grew to 50.4% of cash-out vs cash pickup at 49.6%. Banxico flagged peso revaluation and US labour-market softening as the principal drivers.
Mexico News Daily — Remittances dropped 4.6% in 2025, the biggest annual decline in 16 years
- NigeriaRegulation
CBN orders acquirers to dual-connect to NIBSS and UPSL within 30 days
Director of Payments System Supervision Rakiya Yusuf mandated acquirers, processors and PTSPs enable active connections to both NIBSS and Unified Payment Services Ltd within one month to eliminate service-interruption risk. First explicit regulator acknowledgement of the systemic rail-redundancy question.
Central Bank of Nigeria (CBN) — Payments System Supervision Circular Dual Connectivity
- BrazilRegulation
BCB approves Pix Internacional technical specification for Q3 pilot
Banco Central published the technical spec for cross-border Pix, enabling bilateral corridors over ISO 20022 messaging. Argentina (Transferências 3.0) and India (UPI) are confirmed first-phase counterparts with live operation targeted for Q3 2026. The BIS Agorá project provides the wholesale-FX settlement layer.
- CanadaRegulation
Bank of Canada closes first RPAA annual-report filing window with ~2,600 PSPs in scope
Federally registered payment service providers filed first-cycle operational-risk and safeguarding reports under the Retail Payment Activities Act. The Bank of Canada said all 2,600-plus registrants are now in scope; non-filers move into enforcement triage. Annual filing cadence formalises the supervisory regime that took effect in late 2025.
- BangladeshRegulation
Bangladesh Bank tightens MFS mule-account detection rules
Bangladesh Bank issued a consumer-protection circular on 3 April requiring MFS providers to deploy real-time mule-account detection across all wallet-opening and high-velocity transaction flows. The directive responds to a +62% YoY rise in social-engineering scam complaints during 2024.
Bangladesh Bank — Consumer Protection Circular — MFS Mule Account Detection
- JapanData
METI: 2024 cashless ratio confirmed at 42.8%; code payments at 9.6%
METI's official 31 March 2025 release confirmed the 2024 cashless payment ratio at 42.8% (¥141T), beating the 40% 2025 target. Credit cards remained 82.9% of cashless value at ¥116.9T; code payments climbed to ¥13.5T. A December 2025 Cashless Promotion review now publishes a dual-metric 'consumer-centric' view alongside the headline ratio.
- AustraliaMilestone
CBA completes PayTo retail-customer rollout; Westpac matches July
Commonwealth Bank extended PayTo mandated-payments to every retail customer on 2 April, completing a staged rollout that began with business accounts in 2023. Westpac confirmed a matching timeline for July; ANZ and NAB still lag. PayTo coverage among major-bank retail customers passes 60% on the CBA milestone.
Commonwealth Bank — PayTo Now Available to All Retail Customers
- United StatesRegulation
CFPB §1033 compliance tier 1 goes live
The CFPB's Personal Financial Data Rights rule took effect for the largest bank tier on 1 April, requiring machine-readable consumer data access on demand. The Bank Policy Institute's legal challenge is pending in the Fifth Circuit; a stay was denied in March.
- United KingdomRegulation
BNPL products come under FCA supervision
Klarna, Clearpay, PayPal Pay in 3 and bank-issued instalment products became regulated credit under FCA rules on 1 April. Operators must complete affordability checks, offer Section 75 protection on qualifying transactions, and join the Financial Ombudsman scheme. Mid-market operators are absorbing the compliance cost; sub-scale players are seeking exit or merger.
March 2026
- ThailandData
PromptPay processed more than 2.2bn transactions in February 2026 alone
BOT statistics show PromptPay clearing 2.2-2.3bn transactions a month through Q1 2026, on annualised volumes of around 27 billion. Combined digital-banking transaction value reached THB 11.5 trillion in January (+17.5% YoY).
Bank of Thailand (BOT) — Payment Systems Statistical Bulletin — Q1 2026
- United StatesData
Fed staff note: stablecoins materially cheaper than card rails for cross-border B2B
A Federal Reserve FEDS Note quantified stablecoin cross-border payment cost savings relative to correspondent banking and card cross-border. The work stops short of policy recommendation but is being cited by GENIUS-Act implementers as the empirical basis for federal acceptance.
Federal Reserve — Payment Stablecoins and Cross Border Payments
- GermanyRegulation
BaFin confirms MiCA Phase 2 supervisory approach for stablecoin issuers
BaFin published supervisory expectations for Germany-licensed MiCA Title III/IV stablecoin issuers, covering reserve composition, redemption rights and AML obligations. Deutsche Bank and Commerzbank tokenized-deposit projects are explicitly outside scope as they remain commercial bank money.
- Saudi ArabiaMilestone
mada e-commerce volume climbs 79% YoY in latest SAMA monthly print
mada-routed e-commerce spend surged 79% YoY to SAR 29.86bn (~US$8bn) in July 2025; the data point published by SAMA in March 2026 confirmed the trajectory extended into early 2026. Single-month mada e-commerce volume now exceeds 2019 full-year totals.
Arab News — Saudi e-commerce via mada cards surges 79% to $8bn
- BelgiumOutage
Bancontact down for over an hour after Worldline maintenance window
Electronic payments via Bancontact were unavailable across Belgian retail from mid-morning until ~13:00 on 30 March after overnight Worldline maintenance carried side-effects. Service was restored within the day; the incident reopened the political debate on acquirer concentration and the Elavon-Bancontact licence agreement signed earlier in the month.
VRT NWS — Bancontact electronic payments' woes across Belgium appear sorted
- SpainMilestone
Bizum crosses 2.5bn annualised transactions run rate in Q1 2026
Bizum reported that rolling 90-day transaction volume through end-Q1 2026 implied an annualised 2.5bn run rate, up from 2.1bn booked across the full year 2024. The acceleration came mostly from P2M e-commerce where Bizum has reached 7,200 merchants including Carrefour and El Corte Inglés; POS deployments remain in pilot at eight major retailers ahead of the May NFC rollout.
- ArgentinaRegulation
BCRA holds policy rate at 28% after twelve consecutive cuts
BCRA's monetary policy committee held the policy rate at 28%, ending a twelve-meeting cutting streak after the March CPI surprise. Governor Bausili indicated cuts would resume conditional on disinflation re-establishing, with FX unification by year-end remaining the principal anchor.
- KenyaData
M-Pesa labelled systemic; Safaricom controls ~95% of retail payments
TechWeez analysis citing CBK confirmed M-Pesa moves KES 83.7 trillion (~US$650bn) annually — about four times Kenya's GDP — and Safaricom controls 95% of retail-payment transactions; CBK has classified the platform as systemically important.
TechWeez — How Mobile Money Became Kenya's Core Banking System
- South AfricaRegulation
SARB Monetary Policy Committee holds rate at 7.50%
SARB MPC kept the policy rate unchanged at 7.50% in March 2026 citing well-anchored inflation expectations and slow growth; rate cycle remains data-dependent. Forward curve consistent with one further cut by year-end.
South African Reserve Bank (SARB) — MPC Statement March 2026
- ItalyData
Banca d'Italia fraud report: APP losses up 52%, VoP impact still pending
Banca d'Italia's 2024 payment-fraud report showed authorised-push-payment losses growing 52% year-on-year, with CNP unchanged at 74% of total card fraud. The VoP go-live in October 2025 is too recent to show in the 2024 baseline; the next annual report — late 2026 — will be the first full-year window on its effect.
- Hong KongMilestone
FPS-PromptPay corridor passes 3 million cumulative transactions
HKMA confirmed that the FPS-PromptPay cross-boundary corridor (live since December 2023) has cleared more than 3 million transactions since launch. The HK-Thailand pricing pressure has cut the consumer-facing FX markup on the corridor by roughly 200 basis points versus card-rail equivalents.
Hong Kong Monetary Authority — FPS-PromptPay Cross-Border Statistics
- PhilippinesRegulation
BSP holds policy rate at 5.00% after February 25bp cut
The Monetary Board left the target reverse repurchase rate unchanged at 5.00% on 26 March, citing a benign domestic inflation print but flagging oil-price volatility from Middle East tensions as a sensitivity.
Bangko Sentral ng Pilipinas (BSP) — Monetary Board Highlights — March 2026 Meeting
- ChinaMilestone
e-CNY cumulative value passes ¥16.7T on 3.4B transactions; 180M wallets
PBOC's Q1 2026 payments update put cumulative e-CNY transaction value at ¥16.7 trillion (about US$2.3 trillion) across 3.4 billion transactions and roughly 180 million wallets by end-2025. The pilot now covers 29 cities; PBOC reiterated that no date has been set for nationwide retail rollout.
- United KingdomData
UK Finance: APP scam losses fall for first time on record
APP scam losses dropped 11% year-on-year to £341m in 2024, the first decline since records began. UK Finance credited the PSR's October 2024 mandatory reimbursement regime, which it said has shifted incentives across both sending and receiving PSPs. Reimbursement rates now sit above 95% against a pre-mandate baseline near 65%.
- MexicoData
Banxico: SPEI processed 7.3B+ transactions worth ~MX$600T in 2025
Banxico's annual payment infrastructure report confirmed SPEI cleared more than 7.3 billion transactions in 2025 for roughly MX$600 trillion in value — 37% volume growth year-on-year. The governor reiterated SPEI is expected to overtake card-payment transaction volume by 2026.
Banco de México — Informe Anual sobre las Infraestructuras de los Mercados
- AustraliaRegulation
RBA confirms 1 October surcharge ban and 0.30% interchange cap
The RBA's Payments System Board concluded the Review of Merchant Card Payment Costs and Surcharging on 25 March. Surcharges on eftpos, Visa and Mastercard payments are banned from 1 October 2026; the wholesale interchange cap drops from 0.80% to 0.30% (estimated A$910m a year merchant saving); a new foreign-card interchange cap takes effect 1 April 2027.
Reserve Bank of Australia — Review of Merchant Card Payment Costs and Surcharging — Final Report
- SingaporeLaunch
PayNow-VietQR corridor opens
MAS / BCS and Vietnam's NAPAS opened a bilateral instant QR corridor between PayNow and VietQR on 25 March, extending Singapore's PayNow mesh to seven ASEAN-plus jurisdictions. P2P and P2M supported from go-live.
Monetary Authority of Singapore (MAS) — Cross-Border Payment Linkages
- VietnamLaunch
VietQR-PayNow corridor opens with Singapore
NAPAS and Singapore's MAS / BCS opened a bilateral instant QR corridor between VietQR and PayNow on 25 March, extending Singapore's PayNow mesh to seven ASEAN-plus partners. P2P and P2M flows supported from go-live.
Monetary Authority of Singapore (MAS) — Cross-Border Payment Linkages
- South AfricaRegulation
Werksmans flags PSP licensing as central pillar of 2026 payments reform
Industry legal briefing characterised the National Payment System Act rewrite and PSP licensing regime as the most consequential payments reform package in two decades; opens direct-access clearing to non-banks for the first time since the 1998 Act.
Polity (Werksmans Attorneys) — Payments Revolution: what every PSP operating in SA needs to know
- IsraelRegulation
CMA issues fine against Bitin exchange for unlicensed operations
The Capital Markets Authority blocked access to Bitin and imposed an ILS 1.7m fine, the first major enforcement under the post-2024 crypto-asset services regime. Reinforces a licensing-first signal to international exchanges; consultations on a Bits of Gold-style broader regime continue.
Capital Markets, Insurance and Savings Authority — Crypto-Asset Enforcement
- FranceLaunch
Wero P2M pilot opens with five merchants in France
EPI's Wero consumer-to-merchant pilot launched in France with carrefour.fr, Boulanger, Rakuten France, Leroy Merlin and Decathlon. Rollout to the full merchant base is expected during Q3 2026, alongside parallel deployments in Belgium, Luxembourg and the Netherlands.
- BrazilLaunch
Nubank rolls out Pix Automático across its 115M retail base
Nu Pagamentos activated Pix Automático subscriptions across its Brazilian retail base in March 2026. Utility and insurance merchants were the first wave; Nubank reports sub-24-hour onboarding against the four-to-six weeks typical for card-based recurring payments. The launch accelerates Pix substitution of card-on-file subscription rails.
- SwitzerlandRegulation
SNB cuts policy rate to 0.25% — fifth consecutive cut
The Swiss National Bank cut its policy rate to 0.25% at the March monetary policy meeting, its fifth consecutive cut. The cut reflects sub-1% Swiss CPI inflation and reduces NII compression risk for TWINT bank-owners marginally; CHF remains structurally appreciation-prone.
Swiss National Bank (SNB) — Monetary Policy Assessment March 2026
- TurkeyRegulation
CBRT holds policy rate at 37% — pauses five-cut easing cycle
First hold after five consecutive cuts from 50% to 37%; CBRT suspended one-week repo auctions, lifting the lira overnight reference rate by 300bps to nearly 40%. The pivot reset the easing-cycle calendar that markets had priced in through year-end.
- PakistanMilestone
SBP and 1LINK confirm Raast Q2 FY26 volume — 645m transactions
Q2 FY26 Payment Systems Review shows Raast processing 645.7m transactions worth Rs18.5T in the quarter (P2P alone Rs15.7T, +13% QoQ). Q3 figures are expected in late June.
State Bank of Pakistan (SBP) — Quarterly Payment Systems Review Q2 FY26
- JapanLaunch
BOJ expands tokenised-reserve blockchain sandbox ahead of CBDC decision
Governor Ueda used the 18 March payments forum to announce an expanded BOJ 'sandbox project' for settling central-bank reserves and bank deposits as tokenised liabilities. The Bank's February 2026 review formally closed the exploratory phase of its CBDC work and concentrated effort on an integrated tokenised-money architecture; a go/no-go on retail issuance remains scheduled for the BOJ's 2027 medium-term plan refresh.
- NetherlandsRegulation
DNB issues DORA guidance on Wero and third-party concentration
DNB published supervisory guidance on DORA application to Wero, addressing third-party ICT concentration where Dutch banks collectively depend on EPI as a scheme operator. Banks must by June document contingency plans and substitutable arrangements; DNB explicitly treats EPI as a critical third-party service provider.
- SwedenRegulation
Sweden sets March 2027 target for bank-offered instant payments
The Riksbank's Payments Report 2026 issued an unusually blunt verdict: virtually no Swedish bank has yet offered customer-facing instant services beyond Swish. The Bank set a March 2027 target for either offering such services or publishing a credible plan.
Payment Expert / Sveriges Riksbank — Sweden sets March 2027 target for instant payments
- BelgiumM&A
Elavon signs domestic Bancontact acquirer licence
US Bank's European arm Elavon signed an acquirer-and-processor licence with Bancontact Company. The deal broadens the field beyond Worldline's effective domestic monopoly on Bancontact acquiring and is the first comparable agreement since the 2010s consolidation.
Elavon — Elavon and Bancontact sign Bancontact acquirer license agreement
- CanadaRegulation
Federal budget reassigns consumer-driven banking supervision to Bank of Canada
The November 2025 federal budget transferred consumer-driven banking supervision from FCAC to the Bank of Canada to align with the Bank's existing PSP mandate. Phase 1 read access stays on track for 2026; payment initiation now targeted for mid-2027. The Department of Finance kept the policy lead.
Department of Finance Canada — Consumer-Driven Banking Framework
- South KoreaMilestone
BOK kicks off Project Han-gang Phase 2 with nine banks
Bank of Korea formally launched Phase 2 of Project Han-gang with nine commercial banks — Kyongnam Bank and iM Bank joining the seven Phase 1 institutions — testing won-pegged deposit tokens for retail payments and government subsidy disbursement. Phase 2 adds biometric authentication, direct P2P transfers between digital wallets, and auto-top-up. Large-scale all-nine-bank transactions are scheduled for H2 2026.
- AustraliaData
AusPayNet: card fraud losses hit A$913m in FY24, CNP at 92%
FY24 fraud losses rose 30% year-on-year, driven almost entirely by card-not-present fraud which now accounts for 92% of total losses. AusPayNet flagged weak 3DS coverage on smaller merchants and social-engineering-led credential theft as the primary vectors. The Confirmation of Payee mandate kicks in for major banks in October.
- Saudi ArabiaLaunch
sarie-Aani bilateral instant corridor live — first GCC retail cross-border IPS
First GCC cross-border retail instant-payment corridor between Saudi Arabia and the UAE went live, settling sarie-Aani transfers in five-second SLA at an initial low-value cap. Bahrain AFS and Kuwait KNET integrations on the AFAQ roadmap through Q4 2026.
Saudi Central Bank (SAMA) — Saudi-UAE Instant Cross-Border Payment Launch
- PolandData
Express Elixir Q4 2025 instant transfers rise 5.8% to 170m
KIR's quarterly settlement-systems data showed Express Elixir processed 170m instant transfers in Q4 2025, worth PLN 87.1bn. December alone exceeded PLN 30bn — the first month above that mark since launch in 2012. Twenty-two banks now participate in the system.
- United Arab EmiratesLaunch
Aani-sarie bilateral instant corridor live — first GCC retail cross-border IPS
First GCC cross-border retail instant-payment corridor live between UAE and Saudi Arabia; 5-second SLA with initial low-value cap. Pakistan (Raast), India (UPI) and Philippines (InstaPay) integrations on the 2026-27 roadmap.
Central Bank of the UAE (CBUAE) — UAE-Saudi Instant Cross-Border Payment Launch
- ChileRegulation
Banco Central de Chile publishes RTRP rail design study; 2027 pilot referenced
The central bank published its Real-Time Retail Payments rail design study, characterising a 24/7/365 instant rail with alias-based addressing and ISO 20022 messaging. A pilot phase is referenced for 2027 with no firm production date. The document acknowledges Chile's instant-rail gap relative to Mercosur and Pacific Alliance peers.
Banco Central de Chile — Diseño de Sistema de Pagos Minoristas en Tiempo Real
- EgyptMilestone
Vodafone Cash crosses 25m active users on government salary onboarding
Vodafone Egypt confirmed Vodafone Cash active-user count crossed 25m in Q1 2026, anchored by Ministry of Finance public-sector wage disbursements via Meeza-linked wallets. Growth share over 2025 narrowed against Orange Cash but the absolute lead is unchanged.
- MalaysiaLaunch
DuitNow QR–Cambodia (Bakong) bilateral corridor opens
PayNet and the National Bank of Cambodia opened a DuitNow QR-to-Bakong QR bilateral corridor on 18 March. Malaysian tourists and business travellers can pay Cambodian merchants by scanning Bakong QRs in their DuitNow-supported apps; settlement is direct without USD intermediation.
- KenyaData
Kenya headline inflation eases to 4.4% — lowest in over a year
Kenya National Bureau of Statistics print: headline CPI 4.4% in March 2026, before edging up to 5.6% in April. Disinflation supported the prior CBR cuts; April uptick gave the MPC pause.
- SwitzerlandLaunch
TWINT signals exploration of Wero interoperability
TWINT confirmed in a corporate update it is evaluating EPI/Wero interoperability for CH-EU cross-border P2P, the first technical indication of Switzerland joining the euro-zone instant-payments mesh despite non-SEPA-IPR status. A live corridor would compress remittance cost on the German, French, Italian and Portuguese cross-border worker routes.
- Hong KongMilestone
HKMA closes retail e-HKD work; preparation phase to end H1 2026
HKMA reiterated that the e-HKD Pilot Programme closed in October 2025 and that preparatory work for any future retail e-HKD issuance — policy, legal and technical foundations — will conclude in H1 2026 with no commitment to launch. The immediate focus is on wholesale e-HKD for financial institutions and on Project Ensemble for tokenised-deposit interoperability.
Hong Kong Monetary Authority — Central Bank Digital Currency
- BangladeshLaunch
Nagad migrates to Bangladesh Bank-supervised subsidiary structure
Nagad completed its transition to a Bangladesh Bank-supervised regulated subsidiary structure during Q1 2026, the final step of the 2024 regulatory transition from a Bangladesh Post Office-anchored special arrangement. The new structure aligns governance and capital adequacy with the MFS Regulations 2022.
- NigeriaRegulation
CBN signals careful management of naira rise; FX-window depth grows
CBN published guidance on managing the naira's rise carefully reflecting demand for the unit at the NFEM window and remittance-inflow momentum post-IMTO settlement-account reforms. The decision signals appreciation will be managed rather than uncapped.
P.M. News Nigeria — Why the CBN Is Managing the Naira's Rise Carefully
- United StatesRegulation
Treasury, FinCEN and OFAC issue joint proposed rule on stablecoin illicit-finance
Treasury proposed coordinated FinCEN and OFAC rules implementing the GENIUS Act's illicit-finance provisions for permitted payment stablecoin issuers. The rule expands BSA programme requirements and clarifies sanctions screening obligations for self-hosted wallet interactions.
US Treasury — Treasury Proposes Rule to Implement the GENIUS Act
- ChinaLaunch
UnionPay extends transit acceptance to Spain and Portugal via Getnet
Getnet (Santander Group) signed a strategic agreement with UnionPay International to roll out UnionPay acceptance at transit turnstiles and flagship retail in Spain and Portugal. Phased pilots begin Q2 2026; UnionPay's European acceptance now reaches more than 90% of European markets, with QuickPass contactless live at over six million merchants.
Santander / UnionPay International — Getnet and UnionPay International Expand Acceptance in Iberia
- FranceMilestone
Cartes Bancaires reports 14.5B transactions in 2024, +6% YoY
Groupement Cartes Bancaires CB confirmed 14.5 billion domestic card transactions in 2024, up 6% on 2023 and representing roughly 75% of all card payments at French POS. CB's co-badge architecture and lower MDR continue to insulate the domestic scheme from international-scheme displacement.
- TaiwanLaunch
TWQR-Thailand PromptPay cross-border interop goes live
FSC and the Bank of Thailand activated the TWQR-PromptPay corridor on 12 March. Taiwanese travellers can scan PromptPay merchants in Thailand; Thai visitors can pay TWQR merchants in Taiwan. The corridor follows the FPS-PromptPay pattern; Vietnam and Philippines interoperability negotiations are scheduled to conclude in Q3 2026.
Financial Supervisory Commission (FSC) — TWQR-Thailand PromptPay Interoperability Launch
- SwedenRegulation
Riksbank Payments Report 2026 recommends SEK 1,000 in cash per adult at home
The Riksbank recommended that households keep around SEK 1,000 in cash per adult as part of broader payment-preparedness planning, citing geopolitical risk and Sweden's high level of digitalisation. The recommendation is non-binding but supported by the MSB.
Sveriges Riksbank — New recommendations for public payment preparedness
- ArgentinaMilestone
Mercado Pago Argentina crosses 30M active users
Mercado Libre's Q4 2025 letter confirmed Mercado Pago Argentina now serves more than 30 million active users — roughly two-thirds of the adult population. CVU-anchored T3.0 share remains around 60% despite A 8020 interoperability rules.
- United Arab EmiratesLaunch
Digital Dirham retail goes live — CBUAE confirms public launch
CBUAE retail Digital Dirham went live to the public in March 2026 after the multi-bank phased pilot. Supports P2P, cross-border settlement with Saudi Arabia, India and China (via mBridge), and integration with UAE Pass. First GCC retail CBDC in production.
Digital Dubai — UAE Launches Digital Dirham: CBDC Goes Live for Retail Payments March 2026
- ThailandMilestone
BOT publishes PromptPay-Korea Zero Pay corridor blueprint
BOT and the Korea Financial Telecommunications and Clearings Institute published a memorandum of intent for a PromptPay-to-Zero-Pay bilateral QR corridor for tourist payments, with operational launch targeted for late 2026.
- DenmarkLaunch
4.5m Danish MobilePay users migrated to unified Vipps MobilePay platform
Around midnight on 12 March 2026, the entire Danish MobilePay user base was moved to the unified Vipps MobilePay platform shared with Norway and Finland. The migration completed the technical integration begun after the 2022 merger and is the precondition for the EuroPA cross-border alliance.
Vipps MobilePay — Vipps and MobilePay on the same app and platform
- ColombiaData
Banco de la República publishes Bre-B working paper: 370m transactions in first four months
The central bank's February 2026 working paper recorded 370 million Bre-B transactions through end-January 2026, totalling COP 59 trillion in cleared value. The paper characterises the rail as 'on the upper bound of central-bank expectations' for the first phase.
Banco de la República — Documento técnico Bre-B, febrero 2026
- United KingdomMilestone
Open Banking crosses 16.5M active connections
Open Banking Limited's December 2025 impact report showed active data and payment-initiation consents at 16.5m, up from 11m a year earlier. Variable Recurring Payments volumes tripled, with HMRC tax payments cited as the single largest commercial use-case. The expansion runs ahead of the statutory framework transition scheduled for later in 2026.
- BrazilRegulation
BCB: no obvious retail CBDC use case given Pix's coverage; Drex stays wholesale
BCB Drex programme lead confirmed at a BIS conference that with Pix in place there is no clear retail CBDC use case. Drex Phase 2 is centred on wholesale tokenisation — bonds, receivables, real estate — over a centralised architecture rather than the original DLT design. Phase 2 runs 13 use cases; a public-facing product is targeted for mid-2026.
AInvest / BCB — Brazil Central Bank Advances Drex CBDC to 2026 with Centralized Model
- South KoreaM&A
Toss preliminary US IPO filing targets US$10bn+ valuation
Viva Republica (Toss) filed preliminary documents for a Q2 2026 US listing on Nasdaq or NYSE at a target valuation above US$10 billion, possibly reaching US$15bn. The decision to bypass the Korean exchange follows post-IPO declines of roughly 70%-80% at KakaoBank and KakaoPay, which has soured Korean fintech valuations.
KED Global — South Korea's Viva Republica Drops Korean IPO Plan, Seeks US Debut
- NigeriaRegulation
CBN releases AML/CFT/CPF baseline standards for automated solutions
CBN published comprehensive baseline standards for automated AML, CFT and CPF technology stacks across CBN-regulated entities, raising the floor for sanctions screening and transaction-monitoring vendor capability. RegTech procurement window opens.
Central Bank of Nigeria (CBN) — Baseline Standards for Automated AML/CFT/CPF Solutions
- VietnamMilestone
VIETQRGlobal-UnionPay corridor processes 5 million transactions in first 100 days
NAPAS reported that the December 2025 VN-China QR linkage with UnionPay International and ICBC processed about 5 million inbound Chinese-tourist transactions in the first 100 days of operation. Vietcombank was the lead acquiring partner.
Vietnam News — Việt Nam launches cross-border QR payment connectivity with China
- IsraelM&A
Bank Hapoalim raises US$2bn international bond — order book US$7bn
Hapoalim's largest overseas bond issuance to date drew US$7bn of demand. Proceeds underwrite digital-banking investment and Bit / Bit Business product expansion; the order-book scale signals normalised international risk-appetite for Israeli bank paper.
- SpainRegulation
AEPD guidance on Verification-of-Payee and GDPR interaction published
Spain's data-protection authority AEPD published joint guidance with Banco de España clarifying that VoP beneficiary-name checks under SEPA Instant do not require separate consent where the lookup is processed on the pay-from-account side. The clarification removes the final legal blocker for 100% coverage of Spanish SEPA Instant flows.
- DenmarkData
Nationalbanken Q1 2026 statistics show wallet share above 33% of POS
Quarterly payment statistics from Danmarks Nationalbank showed wallet payments now used for every third in-store payment, with card-not-present spend continuing to grow as more household subscriptions move online. The number of physical card transactions remained essentially flat.
Ramp raises US$750M at US$16B valuation
Corporate card and spend-management startup Ramp closed a Series E led by Founders Fund, nearly doubling its 2024 valuation. The raise reflects a sharp bifurcation in the 2026 US fintech market between infrastructure leaders and consumer-facing names that remain capital-constrained.
- ChinaData
PBOC: non-bank mobile payment value up 9% to ¥638T in 2024
PBOC's 2024 payment-system annual data put non-bank mobile-payment value at ¥638 trillion, up 9% year-on-year — the slowest rate since the aggregate began publication in 2016. PBOC attributed the deceleration to saturation in urban tier-1 markets and to consolidation under the 2024 Non-Bank Payment Institutions Regulation; rural penetration continues to rise from a lower base.
People's Bank of China — Payment System Operational Overview 2024 Annual
- JapanMilestone
Wise goes live as first non-bank with direct Zengin API access
Wise completed its API-based direct connection to Japan's Zengin System and now settles directly with the Bank of Japan, the first non-bank to do so. The move bypasses bank intermediaries for Wise's JPY remittance flow; Zengin opened to non-bank direct settlement in 2024 in line with G20 cross-border payment commitments.
Finextra — Wise Becomes First Non-Bank to Go Live on Japan's Zengin Network
- IndiaMilestone
UPI March 2026 hits all-time monthly high of 22.64bn transactions
NPCI's March monthly print of 22.64bn transactions was the highest single-month UPI volume on record. The number underpinned India's continuing lead over every other retail instant-payments rail by an order of magnitude.
- ItalyMilestone
Banca d'Italia reports SCT Inst now 32% of total SCT volume in Italy
Banca d'Italia's Payment System Report Q1 2026 confirmed SCT Inst at 32% of total Italian SCT volume at end-2025, the highest share among the EU-5. The figure is the first full-window read on IPR's send-mandate effect; per-PSP coverage now sits at 100% of in-scope institutions.
- South KoreaData
Credit card spending passes ₩1,130T in 2024 — ~90% of GDP
Credit Finance Association data confirmed 2024 credit-card volume at ₩1,130 trillion, up 6% year-on-year. The ratio to nominal GDP — roughly 90% — remains the highest in the world. Debit / check-card growth was slower at 3%; super-app wallet transaction share in BOK's Survey on Payment Habits climbed to 14%.
Credit Finance Association of Korea — Credit Card Industry Statistics 2024
- IndonesiaRegulation
OJK assumes crypto-asset supervision from Bappebti; new CASP licensing regime
Otoritas Jasa Keuangan took over supervision of crypto assets from commodity-futures regulator Bappebti in January 2025; the operational licensing transition completed in March 2026. 24 virtual-asset service providers received full OJK CASP licences; another 8 remain under review. Bank Indonesia retains authority over rupiah-settled stablecoins.
- NetherlandsData
DNB SPACE detail: Dutch POS cash share at 20%, lowest in euro area
DNB's contribution to the ECB SPACE 2024 dataset confirmed the Netherlands at 20% cash share of POS transactions by volume, the lowest in the euro area against the bloc average of 52%. Cash share by value sits at 8%. Debit cards do the work — 67% of POS volume — with the rest split across mobile wallets, instant transfer and a residual long-tail.
De Nederlandsche Bank / ECB SPACE 2024 — Onderzoek Betalingsverkeer 2024
- TurkeyMilestone
Troy domestic scheme reaches 67 million cards — 20% market share
BKM-operated Troy scheme passed 67m cards in issue with ~20% share of Turkish card spend; mandatory on public-sector cards and co-badged on most İşbank, Ziraat and Halkbank debit issuance.
Daily Sabah — Türkiye's Troy card system hits 67 million cards, 20% market share
- TaiwanMilestone
CBC Digital NTD Phase 1 retail pilot reaches 20,000 participants
CBC's Digital New Taiwan Dollar retail pilot Phase 1 completed onboarding to 20,000 participants across five banks (Bank of Taiwan, Mega, CTBC, First Bank, Taishin) in a closed-loop FSC sandbox. The phase tests offline payment, holding caps and integration with commercial-bank distribution; a go/no-go milestone is targeted for 2027.
- PolandMacro
NBP cuts reference rate 25bps to 3.75% — first cut since 2024
The Monetary Policy Council delivered the first cut of the new easing cycle, taking the reference rate to 3.75%. Governor Glapinski had signalled the move via late-February remarks; inflation in January sat below the 1.5–3.5% target midpoint.
- SwedenMilestone
Swish exceeds 100m transactions in a single month for the first time
Getswish confirmed Swish processed more than 100m transactions in May 2025, the first such month on record, and ended 2025 above 1.1bn total transactions. Adoption among Swedish adults reached ~86% per Getswish data.
- Hong KongData
Virtual-bank cohort aggregate assets pass HK$60bn at end-2024
HKMA's annual virtual-banking statistics confirmed the eight licensed digital banks held HK$61.8 billion in aggregate assets at end-2024, up 18% year-on-year. Mox Bank's reported first profitable quarter in Q3 2025 marked an inflection point for the cohort; consolidation pressure remains material for sub-scale licensees.
Hong Kong Monetary Authority — Virtual Banks Aggregate Statistics 2024
- SingaporeMilestone
Project Guardian graduates first commercialisation-track institutions
MAS announced that the first cohort of Project Guardian institutions had cleared the criteria for commercialisation track: live tokenised FX, tokenised MMF, and tokenised bond settlement, with retail-investor-eligible product designs.
Monetary Authority of Singapore (MAS) — Project Guardian — Commercialisation Track
- PhilippinesMilestone
BSP and BancNet publish full-year 2025 InstaPay totals: 4.66B transactions, P11.55T value
Combined InstaPay + PESONet value reached P24.7T in 2025 (+42% YoY); InstaPay volume more than tripled to 4.66bn transactions. The data drop confirms that retail flow has shifted decisively away from over-the-counter remittance pickup to in-app A2A.
BusinessWorld / BSP — InstaPay, PESONet transfers reach P24.7 trillion in 2025
- NigeriaRegulation
CBN reminds IMTOs to use designated naira settlement accounts
Central Bank of Nigeria reminded International Money Transfer Operators of the requirement to open naira settlement accounts with Authorised Dealer Banks; all remittance-related transactions must process through these accounts. Move tightened the formal-channel rail and contributed to the YTD naira appreciation.
Central Bank of Nigeria (CBN) — IMTO Settlement Account Reminder
- VietnamRegulation
Decree 73/2024 fintech sandbox — first eight participants admitted
SBV admitted the first cohort of eight participants to the Decree 73/2024 fintech sandbox, covering credit-scoring, open-banking and P2P-lending firms. Two-year operating window applies.
- KenyaMilestone
M-Pesa-PesaLink integration moves to full bank-to-wallet interoperability
Safaricom and Integrated Payment Services Ltd (PesaLink operator) progressed full M-Pesa-PesaLink integration, enabling direct transfers between mobile wallets and all 39 PesaLink-connected banks without bilateral agreements. The most consequential interoperability milestone since the 2019 wallet-to-wallet mandate.
CIO Africa — M-Pesa And PesaLink Integrate To Simplify Payments
- PakistanMilestone
BISP completes Raast-rail migration of all stipend disbursements
The Benazir Income Support Programme moved its last paper-cheque stipend cohorts onto Raast in early March, removing more than 1 million off-line beneficiaries from over-the-counter pickup. Pakistan Military Accounts Department and CDNS are next on the SBP rail-migration calendar.
- ChileRegulation
FNE confirms Transbank meets Resolución 86 deregulation conditions; second tariff stage in force
The Fiscalía Nacional Económica formally ratified that Transbank's monthly acquiring share had remained below 50% for the six consecutive months between March and October 2025 required by the TDLC's Resolución 86/2025. The acquirer now operates under the deregulated second-stage tariff scheme.
Fiscalía Nacional Económica — Resolución sobre cumplimiento condiciones Transbank
- ColombiaLaunch
Gou Payments becomes 5th interoperating SPBVI inside Bre-B
Gou Payments — the SEDPE-licensed entity backed by Grupo Aval — completed Bre-B participant onboarding and became the fifth fully interoperating SPBVI alongside ACH Colombia, Redeban, Credibanco and Visionamos. Three more participant onboardings are scheduled for 2026 H2.
- MalaysiaRegulation
BNM publishes 2026 Financial Inclusion Scorecard for digital banks
Bank Negara published its 2026 Financial Inclusion Scorecard for the five licensed digital banks. All five met underbanked-segment deposit acquisition targets; loan-disbursement KPIs vary. BNM signalled willingness to issue additional licences if the cohort continues to deliver on inclusion KPIs.
Bank Negara Malaysia — Digital Banks — Operational Performance 2025
- BelgiumLaunch
Worldline completes first Wero e-commerce transaction in Belgium
Worldline processed the first live Wero online payment in Belgium, with the Red Cross as the inaugural merchant. Belgium becomes the second EPI market with consumer e-commerce live after Germany; merchant rollout is planned through 2026.
Worldline — Worldline completes its first Wero online payment with the Red Cross in Belgium
February 2026
- NetherlandsData
Betaalvereniging: Dutch card fraud falls 11% in 2024 to €32m
The Dutch Payments Association reported card fraud losses of €32m in 2024, down 11% year-on-year — the third consecutive annual decline and now 1.9 basis points of transaction value, among the lowest in Europe. CNP share held at 68%, with social engineering against iDEAL flows the fastest-growing sub-category.
- EgyptData
CBE reports Q1 2025 IPN cleared EGP 1.2tn on 263m transactions
The CBE's Q1 2025 payment statistics, released February, showed the Instant Payment Network cleared 263m transactions worth EGP 1.2tn in the quarter — a ~70% YoY jump in value terms. The data confirmed InstaPay's continued displacement of small-ticket wallet flows. The fee schedule introduced in April 2025 (0.1% of value, min EGP 0.5, max EGP 20) appears to be growing wallet of usage rather than slowing it.
Arab Finance — Egypt's IPN transactions jump to EGP 1.2T in Q1 2025: CBE
- CanadaData
CBA 2024 card-fraud losses reach C$1.29B as CNP share holds at 89%
Canadian Bankers Association data put 2024 credit-card fraud losses at C$1.29 billion, up 14% year-on-year. Card-not-present accounts for 89% of total losses — broadly in line with peer G7 markets but without the SCA backstop available under EU PSD2. Counterfeit fraud has collapsed to 2% of total under full EMV coverage.
- PolandRegulation
Poland extends Schengen border checks with Germany and Lithuania to April 2026
The Polish government extended temporary border checks with Germany and Lithuania to 4 April 2026. The measure has no direct payments impact but lengthens cross-border POS dwell times and adds friction for tourism-related card spend in border regions.
VisaHQ / Polish Government — Poland extends temporary border controls
- JapanRegulation
EMV 3DS now mandatory across all Japan e-commerce merchants
METI's Credit Card Security Guidelines 4.0 reached full enforcement on 31 March 2025; one year on, JCCA's tracking puts merchant compliance above 95% and reports CNP fraud growth slowing into Q1 2026. The next enforcement focus is acquirer-side risk-monitoring obligations under a Guidelines 4.1 consultation expected in the second half.
Ministry of Economy, Trade and Industry — Credit Card Security Guidelines 4.0
- GermanyMilestone
girocard contactless share crosses 85% — first full Bundesbank quarter above the threshold
EURO Kartensysteme reported girocard contactless share rose above 85% for the first full quarter in Q4 2025, against a 2022 baseline of 69%. The shift removes one of the structural drags on POS card volume vs cash and reduces the cost-per-transaction gap with mobile wallets.
- IndiaRegulation
Union Budget extends MDR subsidy for RuPay debit and UPI
The Union Budget for FY2026-27 extended the zero-MDR subsidy on RuPay debit and UPI P2M (below ₹2,000 for small merchants) at a committed outlay of ₹15bn for another financial year. Industry bodies renewed calls for a calibrated return of MDR on larger-ticket transactions.
- FranceRegulation
DGFIP confirms B2B e-invoicing phasing — September 2026 for receive
DGFIP released the final decree confirming phased implementation of mandatory B2B electronic invoicing. All businesses must be able to receive e-invoices from 1 September 2026; large companies must issue from the same date; SMBs from 1 September 2027.
- BrazilData
Open Finance Brasil crosses 128M active consents in January 2026
Brazil consolidated its position as the global leader in Open Finance scale, reaching 128 million active consents in January 2026 versus 62 million a year earlier — more than a doubling. Pix Automático's June 2025 launch (recurring payment authorisations over Pix rails) accelerated consent issuance through Q4. The regime covers banking, insurance, investments and pensions.
TI Inside — Open Finance: Brazil leads global ranking with 128 million active consents
- MexicoRegulation
Banxico opens consultation on SPEI 2.0 architecture and ISO 20022 migration
Banco de México released for industry consultation the SPEI 2.0 design package, which moves the rail to ISO 20022 messaging, adds richer remittance data fields, and introduces a payment-confirmation API for merchant overlays. Consultation closes mid-year; first production milestones target 2027.
- SpainData
Banco de España fraud report: card losses fell 7% in 2024, first decline since 2018
Banco de España's 2024 fraud statistics showed card-fraud losses of €172m, down 7% year-on-year and the first decline since 2018. PSD2 SCA coverage on e-commerce reached 88% and banks now systematically step-up authentication on cross-border CNP above €30. CNP still accounted for 87% of total losses.
- Saudi ArabiaLaunch
mada Pay Hajj rolls live for 1447H season pilgrim acceptance fleet
Saudi Payments confirmed mada Pay Hajj — tap-to-pay across the Mecca and Medina merchant fleet — entered live operation for the 1447H Hajj season, with no riyal cash needed for pilgrim transactions at certified merchants. The closed-loop tourism rail is the operating template for NEOM, Diriyah and Red Sea acceptance build-outs.
- SwitzerlandData
SNB SIC Instant statistics: 94M transactions in 2024, 68 active participants
SNB SIC statistics for 2024 showed SIC Instant (SIC5) cleared 94m transactions in its first full year, with 68 directly participating institutions. The figure is small in absolute terms versus TWINT's 774m but the value cleared — CHF 1.24tn — reflects its B2B and high-ticket retail orientation.
- TaiwanData
FSC approves Chunghwa Post digital wallet for H2 2026 launch
Financial Supervisory Commission approved Chunghwa Post's mobile wallet design for H2 2026 launch. Addressable depositor base of 28 million — the largest in Taiwan — opens immediate competitive pressure on LINE Pay (13.2m users), JKOPay (7.4m) and icash Pay (5.6m). The state postal-bank entrance is the most material new wallet launch since LINE Pay Taiwan in 2014.
Financial Supervisory Commission (FSC) — Chunghwa Post Mobile Payment Approval
- ArgentinaLaunch
Nu Argentina confirms H2 2026 launch via Galicia onboarding
Nu Holdings reaffirmed its Argentine launch for H2 2026, with onboarding hosted via Banco Galicia under regulatory cooperation. The arrival is the most material cross-border challenger since Mercado Pago's incumbency hardened post-2021, and is positioned against MODO and Ualá as much as MP.
- United Arab EmiratesRegulation
AE Coin AED stablecoin moves from preliminary to full CBUAE licensing
CBUAE moved the AE Coin AED-pegged stablecoin (FAB + International Holding Company) from preliminary approval to a full Payment Token Services authorisation, formalising the AED stablecoin perimeter. The decision turns AED-tokenisation from a regulatory question mark into a defined operating envelope.
Central Bank of the UAE (CBUAE) — AE Coin Payment Token Services Authorisation
- SingaporeMilestone
GXS Bank reports first sustained profitable quarter
Grab Holdings disclosed in its Q4 2025 results that GXS Bank achieved its first sustained-profit quarter in October-December 2025. GXS deposits crossed S$11bn alongside MariBank and Trust Bank in the digital-bank cohort.
Grab Holdings — Grab Q4 2025 Earnings — Financial Services Performance
- ThailandRegulation
BOT publishes operational guidance for the three virtual-bank licence winners
BOT issued framework guidance on capital, governance and IT-resilience requirements ahead of the 2026-27 launch window for the three virtual banks (SCB-Tencent-Kakao; Krungthai-Gulf-AIS; Ascend Money). All three are expected to apply for limited go-live in 2H 2026.
Bank of Thailand (BOT) — Virtual Bank Licensing — Operational Guidance
- PhilippinesRegulation
BSP mandates use of standardised InstaPay and PESONet rails for digital banks and e-wallets
BSP issued a circular requiring digital banks and EMIs to settle peso transfers via InstaPay or PESONet rather than proprietary closed loops. The change targets failed-transfer reliability and consumer-facing interop between GCash, Maya, and bank apps.
Bangko Sentral ng Pilipinas (BSP) — BSP Circular on Standardised Payment Rails
- South AfricaRegulation
SARB publishes Vision 2030+ payments-strategy consultation paper
SARB opened consultation on Vision 2030+, the next iteration of its medium- to long-term payment strategy; stakeholder responses requested by 31 March 2026. The paper formalises PayShap's central role and signals the post-Khokha CBDC question remains under active study, no retail pilot announced.
South African Reserve Bank (SARB) — Payments Ecosystem Modernisation Programme
- PakistanRegulation
SBP holds policy rate at 10.5% in first 2026 MPC meeting
The MPC held the policy rate at 10.5% on 26 February, citing inflation tracking inside the 5-7% target band at that point. The decision was the final hold before the April hike turned the cycle.
Business Recorder — SBP holds policy rate at 10.5% in first 2026 MPC meeting
- BelgiumRegulation
Febelfin reports €49m phishing losses, calls for ECB liability sharing
Febelfin published its 2024 fraud retrospective, attributing €49m of consumer losses to phishing despite the industry recovering or blocking 75% of attempts. The federation used the moment to lobby for liability-sharing rules on platform operators and telcos as part of the EU PSD3 trilogue.
- ChileData
TEF cleared 2.45bn transactions in 2024, +22% YoY — Banco Central de Chile
The Banco Central's annual payment-systems summary recorded 2.45 billion TEF transactions in 2024, up 22% on 2023. The figure underscores that Chile's same-day TEF rail is performing strongly on volume even without a 24/7 instant overlay.
- ColombiaMilestone
Nequi Q4 2025: 26m registered users, full-year profit
Bancolombia's full-year filing recorded Nequi at 26 million registered users with ~20 million monthly actives and a full-year operating profit for 2025 — the first sustained profit by a Colombian SEDPE. Nequi's Bre-B integration was the primary driver of Q4 2025 transaction-volume growth.
- IsraelMilestone
ZAHAV ISO 20022 migration completes implementation cutover
Bank of Israel confirmed final cutover of ZAHAV RTGS operations to native ISO 20022 messaging, enabling structured payment-message data and aligning Israel with euro-area and US wholesale-payments standards. MASAV extension on the same envelope is the next roadmap item.
- BangladeshData
Binimoy clears 85m transactions in FY2024-25 — 4.8x YoY
Bangladesh Bank's FY2024-25 Binimoy operational statistics, released in late February, showed 85m cleared transactions worth BDT 380bn — a 4.8x jump versus FY2023-24. The acceleration reflects the BB-PSPs-banks compromise on commercial terms reached in mid-2024 and onboarding of additional MFS providers.
- ItalyM&A
Nexi confirms exit from Greek acquiring, returns proceeds to shareholders
Nexi finalised its exit from the Greek acquiring business in late February, completing the divestment programme launched in 2024. Proceeds (~€350m) are being returned to shareholders rather than redeployed into new acquisitions, consistent with Nexi's post-merger consolidation rather than expansion stance.
- AustraliaMilestone
NPP surpasses direct-entry on transaction volume for first time
December 2025 data from AP+ showed NPP cleared more individual payments than the legacy direct-entry system for the first month on record. RBA framed the crossover as an inflection point ahead of the stated DE retirement before 2030; NPP now processes around A$6 billion of payments each day across more than 100 participating institutions.
- IndonesiaMilestone
BI-FAST crosses 2bn annualised transactions; SKNBI deprecation timeline firming
BI-FAST processed an annualised 2.1bn transactions in Q1 2026, up from 1.9bn in full-year 2024. Bank Indonesia signalled that once 100% of retail credit flows are on BI-FAST — expected by end-2028 — the legacy SKNBI system will be retired. Fee differential remains the primary adoption driver: Rp2,500 on BI-FAST versus Rp6,500 on SKNBI per transfer.
- TurkeyMilestone
CBRT advances Digital Turkish Lira phase 3 with offline and programmable payments
CBRT confirmed the next phase of the Dijital Türk Lirası project includes offline payment functionality and programmable payments via smart-contract mechanisms; closed-circuit pilot with five banks continues. Phase 3 is the first programmable-money pilot operating inside a 37% policy-rate environment.
Central Bank of the Republic of Türkiye (TCMB) — Digital Turkish Lira Project — Phase 3 Update
- Hong KongData
HKMA: total card volume up 4.2% in 2024 on inbound-tourism rebound
HKMA's Q4 2024 credit and debit card statistics put total card transactions at 2.22 billion (up 4.2% year-on-year) and total card value at HK$1.07 trillion. Inbound-tourist spend — particularly via UnionPay QuickPass and Alipay — was the largest single driver; Octopus volumes held steady at 12.4 million transactions per day.
Hong Kong Monetary Authority — Credit Card Statistics Q4 2024
- PhilippinesM&A
Maya weighs US IPO of up to US$1bn — Bloomberg
Bloomberg reported in mid-February that PLDT-backed digital bank Maya was sounding US underwriters for a listing of US$500m to US$1bn, ahead of any local PSE listing. Chairman Manuel Pangilinan subsequently hinted at a dual track.
Bloomberg — Philippine Fintech Maya Is Said to Weigh Up to $1 Billion US IPO
- VietnamData
MoMo discloses 32 million users — +12% YoY
M_Service published its 2025 retrospective showing MoMo at 32 million monthly active users (+12% YoY), with super-app revenue mix shifting toward credit and financial-services fees rather than payments take-rate.
- KenyaRegulation
CBK reaffirms no-pilot CBDC stance citing M-Pesa and PesaLink coverage
CBK reiterated its sceptical_no_pilot posture on a retail Digital Shilling — the 2022 discussion paper conclusion that M-Pesa and PesaLink already deliver the retail-payment objectives a CBDC would claim. No pilot planned. The position has become a reference point for other emerging-market central banks evaluating retail-CBDC value cases.
Central Bank of Kenya (CBK) — Central Bank Digital Currency Discussion Paper — Update
- PakistanData
Pakistan digital transactions reach 92% of retail volume — SBP
SBP-aggregated data summarised by ClearingPost shows digital channels accounting for 92% of all retail payment transactions, up sharply on the 2023 baseline. Raast, 1LINK, branchless-banking wallets and card volumes are all contributing.
- DenmarkData
Nationalbanken: card turnover hit kr.831B in 2024, up 6%
The annual card-turnover release showed Danish-issued card spend reached kr.831B in 2024, with each Dane averaging ~461 transactions a year. Online spend doubled relative to 2016. Dankort retains roughly 40% share, the rest divided between co-badged Visa and Mastercard issuance.
Danmarks Nationalbank — The turnover from card payments continued to increase in 2024
- EgyptM&A
Paymob announces Series D extension led by EBRD, targeting MENA acquirer consolidation
Cairo-headquartered Paymob announced a Series D extension led by EBRD with PayPal Ventures and Endeavor Catalyst participating, supporting expansion into Saudi Arabia and Pakistan and additional KSA mid-market acquirer roll-ups. Paymob processes annualised volume above US$6bn across Egypt, KSA, UAE, Pakistan and Oman.
- MalaysiaMilestone
DuitNow QR acceptance crosses 3 million touchpoints
PayNet confirmed nationwide DuitNow QR registration crossed 3 million acceptance points in February, with MSMEs accounting for the majority of net additions in 2025. BNM has signalled an ambition to push the figure to ~4m by end-2027.
- DenmarkLaunch
Vipps MobilePay turns on tap-to-pay for Danske Bank and SEB cards
Tap-to-pay went live in the Danish MobilePay app for Danske Bank and SEB card holders, removing one of the long-standing gaps to Apple Pay and Google Pay. The activation completes a Nordic-wide rollout across Norway, Sweden, Finland and Denmark.