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Pan African Payments Company Cellulant Acquires PSP License in Ghana as it Rolls Out A Digital Payments Solution For Businesses
Digital payments has seen tremendous growth in the past couple of years. As of January 2021, 38.9 percent of the population aged 15 years and older had a mobile money account in Ghana. The share of mobile money users has increased over the previous three years as Ghanaians have gradually adopted a robust digital payment infrastructure. However, cash remains a dominant preference for payments. One of the contributing factors for preference of cash over digital payments is the high costs of digital payments that are often passed on to users, a lack of trust in, or familiarity with digital payments.
Paysafe, a leading specialized payments platform, announced a new payments ‘safeguarding’ acquiring model for airlines in the US and a partnership with ARC, the Virginia-based provider of settlement services for airline transactions initiated through travel agencies in the U.S. and global data solutions. The arrangement sees Paysafe offer ARC’s airlines a payments acquiring solution that gives them financial flexibility by innovating on the traditional approach of tying-up the airlines’ liquidity with their banks to cover risk, which has proven increasingly challenging during the COVID-19 pandemic.
Synapse, a banking-as-a-service platform built to increase access to best-in-class financial products, introduced the Synapse Credit Hub, a full-stack API platform built to support innovative credit solutions for individuals and businesses, leveraging the Mastercard network. With the Synapse Credit Hub platform, companies can now for the first time quickly offer a comprehensive suite of products including card issuance, credit-building tools, accounts, cashback rewards, and more.
Voyager Digital Partners with Usio to Enable Merchants and ISVs to Accept Cryptocurrency as a Form of Payment
Voyager Digital Ltd., the fastest-growing, publicly-traded cryptocurrency platform in the United States, announced that it has partnered with Usio, Inc., a FinTech and integrated electronic payment solutions provider, to enable its merchants to accept many prominent cryptocurrencies as payment.
BM Technologies, Inc. (BMTX) Expands its Banking-as-a-Service Offering to Credit Unions and Community Banks
BM Technologies, Inc., one of the largest digital banking platforms in the country, announced it is expanding its Banking-as-a-Service (BaaS) offering to credit unions and community banks. Through this platform, BMTX will help these financial institutions accelerate their digital strategies with state-of-the-art mobile and web-based banking apps and also provide back office banking operations, compliance, fraud and risk management and customer service support if needed.