Cornerstone Brands is pleased to announce the completion of its acquisition of FXPress Payment Services Ltd. (“FXPress”) following the consent of the FCA. FXPress, a regulated Authorised Payment Institution providing cross-border payment services, is now a wholly-owned subsidiary of Cornerstone.

Cornerstone is also pleased to announce that it has received the consent of the FCA for the acquisition of Avila House by FXPress.

OneSpan™ (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced the appointment of Ajay Keni as its Chief Technology Officer (CTO) to further transform the global financial services market with OneSpan’s Trusted Identity platform and solutions.

Accepting contactless payment can be a headache for any small business, store, or independent worker who must buy or lease expensive and cumbersome payment hardware. MeaPay cuts those hardware shackles and provides greater freedom by making payment possible on Near Field Communication (NFC) devices. 

Advanced technology and innovation have forever disrupted business operations of the past. With changing trends and customer expectation, product offerings, service and business operations has been the centre of the continuous cycle of adopting and adapting to latest technology and operation models. The financial service industry is no exception to this and has witnessed dynamic transformation pertaining to digital and technological aspects of product classification and conducting business.

Somalia’s largest private employer and leading telecommunications operator, Hormuud Telecoms, has announced that the numberof month-on-month mobile money transactions on its platform EVC Plus increased between the months of April – August, despite the onset of the COVID-19 pandemic in Somalia.  

Cashless technology isn't a completely fresh concept. People have been using credit cards for decades, and the market for fintech services has been growing steadily. That being said, the current health crisis has underscored the need for economies to go cashless as a way to restrict the spread of the coronavirus.