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Cambodia, Singapore In X-Border FinTech Pact

PYMNTS

Among the most recent headlines, in Asia this past week, the Monetary Authority of Singapore (MAS) and the National Bank of Cambodia have signed a memorandum of understanding (MOU), that Business Times said will boost partnerships on FinTech and financial services innovation.

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Why Rural Shoppers Need Digital Innovation Too

PYMNTS

Mostly because that is where innovations tend to get their start — ridesharing, delivery on demand, one-day shipping, buy-online pick up in-store, experimental experiential retail locations, pop-up shops and the list goes on (and on). Barbarick also noted the firm’s intention to continue expanding its digital expansion efforts.

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EDI Challenges Reference Data’s Big Four

Tech and Finance

A relative newcomer to the reference data business, Exchange Data International, is challenging the incumbents for what it terms anti-competitive practices. Burton-Taylor International Consulting, the leading authority on the market data business, estimates the global market for reference data is $2 billion to $3 billion.

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Amazon Pay’s Gauthier: No One Can Predict Retail’s Future, So Innovate Around What Won’t Change

PYMNTS

But Gauthier said the tricky part about trust for retailers heading online is how to maintain it when they move beyond a local customer base who may know them, to a new to digital audience, or one that’s national or even international. And we see it as one of our responsibilities to bring those innovations to our merchants.”.

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Visa Seeks Patent On System To Turn Government Currencies Into Digital Blockchain Versions

PYMNTS

According to various embodiments, cash may be removed from the markets in a frictionless manner and the payment ecosystem may be improved.”. The patent application indicates that Visa would deploy the system in partnership with government central banks, which it referred to as “central entities” in the filing.

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OppFi files complaint to block “true lender” challenge by California Department of Financial Protection and Innovation

CFPB Monitor

The complaint references the California Attorney General’s failed attempt to invalidate the FDIC’s Madden -fix rule which is codified at 12 C.F.R. Section 160.110(d). Section 7.4001(e).

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Singapore Eyes ‘Bringing Together’ Banks And FinTech Firms

PYMNTS

In reference to banks, Menon said that for traditional firms eyeing cryptos , “the nature of this business is a bit different, so banks may need to employ other ways in which they can establish bona fide,” he said. In Europe, joint efforts in FinTech and banking have crossed borders.

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