Brussels, Belgium - Bank customers will soon be able to transfer money across Europe within seconds after the EU adopted a law on Monday forcing banks to offer bloc-wide instant payments. Under the new rules, people in Europe will be able to transfer money within 10 seconds at any time of...

It will help customers to seamlessly process transfers.

The agreement between Canada and Google is part of the Online News Act, which aims to support a struggling Canadian news sector that has seen a flight of advertising dollars and hundreds of publications closed in the last decade. It comes into force on Tuesday.

The first proposed interim dividend is of $81 million.

Jerusalem--The European Union has disbursed $24 million for the payment of social allowances to 71,162 vulnerable Palestinian families through the National Cash Transfer Program. The European Union for the past 17 years has been a steadfast supporter of the Palestinian Authority's (PA) Ministry of Social Development (MoSD), collaborating to ensure...

The money transfer firm plans to set up base across the GCC.

The Iraqi prime minister said the decision to pay for Iranian gas imports with oil corresponds with the mechanism agreed with the US in order not to violate the sanctions. Gas is crucial for Iraq's electricity generation, but US sanctions on Iranian oil and gas impose restrictions on how Baghdad...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) which is listed on the Dubai Financial Market (DFM) on Monday reported that its shareholders approved the payment of total dividend of US$1.29 billion (AED 4.77 billion) with a record date of April 20, 2023. This approval came during DEWA’s general...

Donald Trump called on his supporters to "protest, take our nation back", as he expects to be arrested over an alleged hush-money payment made to a porn star in 2016. Amid growing signs of prosecutors moving closer to an indictment, the 76-year-old billionaire said on his Truth Social platform that...

SHARJAH, UAE - The Sharjah Airport International Free Zone (SAIF Zone) has signed a cooperation agreement with Al Ansari Exchange, to introduce a new payment service and enhance customer experience. The newly signed partnership will allow SAIF Zone’s investors and clients to conveniently pay fees at any of Al Ansari...

The move will help Dubai in becoming a cashless economy.

Firm approved interim dividend payment of US$54m.

The Foreign Experts Court of the Abu Dhabi Judicial Department (ADJD) has managed to maintain high adjudication rates in the cases brought before it over three years since it started operating in 2019.

The shopping app looks to widen its market in MENA.

Cross-currency payments cut the need for foreign transaction fees for customers, encourage customer loyalty and reduce cart abandonment but they have their drawbacks.

The GCC region is now witnessing an increase in adoption of open banking system and implementation plans are being put in place as regulators set new market policies.

The study highlighted how the government sector in the kingdom has almost completely converted to electronic payment methods for all outward payments to individuals, business establishments or other government agencies.

The Saudi Central Bank (SAMA) said a study revealed that electronic payments increased from 44 percent in 2019 to 62 percent of all payments by volume in 2021.

Digital payments made through a mobile device accounted for 35 percent of all near-field communication transactions in Saudi Arabia in 2021, according to Saudi Payments. The share of payment transactions made using a mobile device in all NFC payments grew from 22 percent in 2020. The number of payment transactions using...

The designation will restrict its dealings in the United States.

A school in Dubai has said it will be the first school in the Middle East to let parents pay tuition fees using cryptocurrency. Citizens School, which is set to open doors in September 2022, said it will accept payments from the two major cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH),...

Are regional governments ready to adopt blockchain technology to boost business payments, transactions, interbank payments and corporate dealings?

Saudi Arabia has witnessed a big jump in 'contactless' payment during the last three years, from hovering in single digits to shooting up to 95 percent during the last three years.

The UAE Ministry of Human Resources and Emiratization (MoHRE) called on private sector establishments to commit to timely paying the wages of their workers through the Wage Protection System (WPS). "The establishments’ commitment to pay wages on time would enhance the stability of the contractual relationship between its parties, and...

The Secretary-General of Iran-Pakistan Joint Chamber of Commerce Fahimeh Damroudi said that barter is the best choice of exchange as the proper way of financial exchange does not exist. Reportedly, Iranian President Ebrahim Raisi has repeatedly underlined the importance of trade development with neighbors. As the president stressed, boost in...

Iran has agreed to accept Ceylon tea in payment for a Sri Lankan oil debt valued at $251 million, Iranian media reported Thursday. "In recent negotiations, we reached a written deal to reimburse Iran's debt and interest on it in the form of a monthly shipment of tea produced in...

A judge rejected Apple's request to delay letting App Store offerings bypass its payment system as ordered by the court was, saying it had 30 days to comply in a case brought by Epic Games.

Kuwait has also urged other members to follow suit so that the UN can do its tasks properly.

ODL uses XRP for instant, low-cost cross-border payments.

*About 10,000 merchants likely to benefit from the service *Buy Now, Pay Later affords consumers a flexible installment payment option with zero additional cost or hidden fees Saudi Arabia-based E-commerce platform Salla and tech-enabled payments platform Spotii have forged a partnership to provide more than 10,000 merchants across the kingdom...

“Tap to phone” solution uses near-field communication technology  The move is in line with Saudi Arabia’s goal to modernize its financial system Small traders in Saudi Arabia can now receive a payment from patrons with their smartphones, doing away with the usual practice of cash payment. Saudi Payments, owned by...