In our “Payment Systems” section, we cover electronic payment systems (EPS) and services used to send, receive, and manage digital money online. Here you will find guides on how payment systems work, how to transfer funds securely, and how they integrate with cryptocurrency platforms. Read the “Payment Systems” section on ForkNews to learn how modern digital payment infrastructure operates.
Since digital currencies have become mainstream, PayPal and other online payment systems have been alarmed by the prospect that “crypto” could end their business model in the near future.
A pilot version of the SWIFT interbank financial system on the blockchain was launched. It is designed to eliminate payment delays due to errors in legacy systems.
After launching its over-the-counter trading platform for institutional clients, the Coinbase exchange quietly decided to add a service for withdrawing users' fiat funds to their PayPal accounts. This feature is provided to users free of charge.
The success of a cryptocurrency largely depends on how many people use it to perform certain tasks as digital money. Dash recently announced a partnership with international payment processor ePaymints, which should increase the number of users and adoption of this digital currency.
Saudi Arabia will launch its own cryptocurrency next year, according to Al Zahrani, head of the Saudi Arabian Monetary Fund (SAMA). According to available information, this cryptocurrency is being developed jointly with another oil-rich country - the UAE.
Hong Kong company Crypto.com, formerly known as Monaco, has announced plans to release a new VISA card to the American market. The Visa Crypto Card, which is planned to be launched and allows you to pay with cryptocurrency on the VISA network, is currently only available to residents of Singapore.
South Korea's largest cryptocurrency exchange Bithumb yesterday announced a partnership with Asian e-commerce giant Qoo10 to create a cryptocurrency payment system for the Asian market.
On Tuesday, the market capitalization of the XRP currency, which is linked to the Ripple payment network, temporarily surpassed the capitalization of Ethereum. Part of the reason for this was the popular rumor that the next SWIFT network update will be integrated with Ripple. A SWIFT spokesperson denied the rumors on Tuesday.
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