Canada’s real-time payment system won’t launch before 2026

The launch of Canada’s oft-delayed Real-Time Rail (RTR) payments system will now not happen until at least 2026, with new tech partners IBM and CGI brought in to the process. Following the completion of a second review, the RTR programme will resume with “renewed momentum,” says Payments Canada. Part of a multi-year, multi-system payments modernisation […]

Ex-N26 staffers raise €35m for embedded finance startup

Finmid, a German financial infrastructure provider targeting B2B marketplaces, has emerged from stealth with €35 million in early-stage equity funding. Blossom Capital, Earlybird VC, and N26-founder Max Tayenthal joined the round for Berlin-based finmid, which was founded in 2021 by former N26 staffers. Finmid argues that banking has become distant and impersonal, leaving small and […]

Fed Chair Powell says there has been a ‘lack of further progress’ this year on inflation

Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon. Speaking to a policy forum focused on U.S.-Canada economic relations, Powell said that while inflation continues to make its […]

Digital Wallets Can Transform B2B Payments — But Will They?

There is a growing disconnect between consumer-focused payment advances and commercial ones.  And while it’s not new news that business-to-business (B2B) payments often lack the intuitive, user-friendly interfaces that have come to be viewed as table stakes in today’s digital age — with the revelation that emerging decision-makers are avid digital wallet users, embracing the consumerization […]

Can buy now, pay later hurt your credit score?

You’ve probably noticed that when you’re shopping online or sometimes in a retail store, you can select a buy now, pay later (BNPL) option, which is a type of installment loan that generally allows a consumer to buy something at the point of purchase with little or no initial payment and then pay off the […]

Iraq Hopes to Expand Economic Relationship With the U.S.

Twenty-one years ago, the U.S. and its allies invaded Iraq in the erroneous belief that the country possessed weapons of mass destruction and was allied with al-Qaida, the terror group responsible for the 9/11 attacks. The U.S. created an occupation authority, but failed to restore order and helped spawn the insurgency that bedeviled it by […]