March 2024 - NewNerve

Account Aggregator in India The Account Aggregator (AA) framework in India is revolutionizing the financial landscape by enabling secure and consented sharing of financial data between Financial Information Providers (FIPs) and Financial Information Users (FIUs). This innovative system is designed to improve access to financial services, particularly for small and medium-sized enterprises (SMEs) and individuals who have traditionally faced barriers in accessing credit. A Game Changer for Financial Inclusion? The AA (Account Aggregator) Framework: A New Era of Financial Inclusion The AA framework, introduced by the Reserve Bank of India (RBI) and the Government of India, is aimed at empowering consumers by enabling them to share their financial data securely and electronically with FI...

Wise, a renowned global online money transfer service, has recently announced two major milestones: the integration of PayNow, Singapore's local payment network, and the expansion of its team in Singapore. The integration with PayNow allows tourists to conveniently make QR payments to local merchants directly through the Wise app. This development is particularly beneficial for businesses that traditionally do not accept card payments, such as hawkers. Singapore becomes the first country where Wise has connected with two local payment systems. This achievement builds upon Wise's previous integration with the FAST system in 2022, further enhancing its presence in the country. Regional Collaborations: In addition to its expansion in Singapore, it focuses on regional growth by colla...

Month: March 2024

5 Essential Benefits of Account Aggregator in India for Financial Empowerment

Wise: Integration of PayNow and Expansion of Singapore Team, 2024