UPI has an open protocol upon which other technologies can be built, creating a much larger and more useful network than its competitors for financial payments. By facilitating exactly what blockchain was supposed to do—cutting out intermediaries and inducing greater competition—UPI could force a global acceleration of innovation in payment technology.
The ‘Jan Samarth’ portal will be a one-stop gateway for all credit-linked schemes of the government. It is a first-of-its-kind platform which directly connects beneficiaries to lenders, the Union finance ministry said.
The Central African Republic (CAR) has begun to unveil its digital currency-focused initiatives. According to a 24-page presentation for the initiative, Sango will be a ‘crypto’ island where digital currency trading will have legal recognition—the first of its kind in Africa.
The budget included three new programs – one that would encourage Florida’s Department of Financial Services to use crypto assets within the state, and two others that would evaluate the feasibility of making car registration and healthcare available through blockchain technology.
The cryptocurrency program is just too new and doesn't align with the local government's fundraising standards, the chief information officer said after weeks of internal discussion and public speculation.
Australia’s debit card system, eftpos, is continuing its rollout of secure online payments options at a pace, announcing the certification of local fraud and risk management company GPayments’ 3D Secure Server solution, ActiveServer.
Commonwealth Bank has placed a bet on the rising popularity of paying directly with bank accounts, investing in fintech Paypa Plane ahead of the mid-year switching-on of a new payment capability known as PayTo.