PaySpace Magazine

Cashless Society: Myth or Reality? Top Cashless Nations Globally

Fri, 16 May 2025 04:46:54 +0300

Envision a future where all the transactions are paperless. For some, it feels like utopia with less theft and more convenience, while others suggest more dystopian scenarios where all your money and assets can be taken away by an evil omnipresent government at any moment. While I, personally, believe truth lies somewhere in between, many […]

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Databricks Acquires Startup Neon

Wed, 14 May 2025 17:00:07 +0300

Data and artificial intelligence company Databricks acquires Neon, which is a database startup. In a press release published by Databricks on Wednesday, May 14, it was noted that as the database market worth more than $100 billion braces for unprecedented disruption driven by machine intelligence, the company plans to continue to innovate and invest in […]

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TensorWave Raises $100 Million

Wed, 14 May 2025 16:47:17 +0300

TensorWave, a Las Vegas-based startup specializing in the development of artificial intelligence infrastructure, announced on Wednesday, May 14, that it managed to raise $100 million in the latest round of financing. Currently, the artificial intelligence infrastructure market is showing rapid growth. Investors seek to benefit from this process. The investment received by a Las Vegas-based […]

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Monzo Introduces Payment Reversal Option

Wed, 14 May 2025 16:46:56 +0300

Monzo customers may now have up to a minute to decide whether they want a transaction to proceed, thanks to the new payment reversal feature. UK-based digital bank Monzo has unveiled a new convenient feature for its users, allowing them to undo the payment instruction if they mistakenly selected the wrong amount, recipient, or changed […]

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Perplexity Selects PayPal for AI-Powered Payments Within Its Agentic Commerce System

Wed, 14 May 2025 15:59:08 +0300

Perplexity and PayPal will allow AI agents on the Perplexity Pro platform to pay for products, travel bookings, or tickets requested by users. Perplexity, a popular AI-powered search engine, has partnered with the payment provider PayPal to enable agent-based commerce payments for users of the Perplexity Pro solution. While basic search on the Perplexity platform […]

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Robinhood to Buy WonderFi

Tue, 13 May 2025 21:23:48 +0300

United States-based financial company Robinhood is buying WonderFi, the Canadian crypto operator of Bitbuy and Coinsquare. According to preliminary information published by the media, the mentioned deal will cost C$250 million (US$170 million) in cash. The Bitbuy and Coinsquare platforms jointly hold assets worth over C$2.1 billion under custody. Robinhood claims that the deal will […]

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Citi Predicts Stablecoin Market to Hit $3.7 Trillion by 2030

Tue, 13 May 2025 21:17:05 +0300

Citi predicts that the financial volume of the stablecoins market could reach $3.7 trillion by the end of the current decade. The mentioned result may become a fact of objective reality against the background of the implementation of new regulatory measures that facilitate the integration of dollar-pegged coins into the space of the mainstream economy. […]

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Stash to Add AI to Financial Guidance Platform

Tue, 13 May 2025 21:09:25 +0300

Stash has secured $146 million in a Series H funding round to deepen its investment in artificial intelligence for the company’s financial guidance platform. The firm’s co-founder and co-chief executive officer, Ed Robinson, said that for ten years, the brand has helped millions control their financial future. According to him, Stash is now redoubling its […]

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Google Says Gemma AI Model Surpasses 150 Million Downloads

Tue, 13 May 2025 21:01:45 +0300

Google reported that its Gemma open-source artificial intelligence model has been downloaded by users more than 150 million times. This information was posted by Omar Sanseviero, a developer relations engineer at Google DeepMind, on the social media platform X. He also noted that Gemma passed over 70,000 options on Hugging Face, a platform for artificial […]

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Perplexity AI Reportedly Plans to Launch Browser

Tue, 13 May 2025 20:51:03 +0300

The media published information according to which Perplexity AI, which is gradually becoming an increasingly powerful player in the global artificial intelligence industry, is currently in preliminary negotiations on raising investments worth $500 million at a valuation of $14 billion. It is worth mentioning that in November, the mentioned company’s market capitalization reached $9 billion. […]

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Dubai to Enable Crypto Payments for Government Services

Tue, 13 May 2025 15:38:44 +0300

Dubai Finance and Crypto.com partner to allow UAE citizens to pay for government services with crypto. Dubai Finance (DOF) has signed a Memorandum of Understanding (MoU) with the crypto exchange Crypto.com to enable people in the UAE to pay government fees using stable cryptocurrencies. The agreement was officially announced at the Dubai FinTech Summit, where […]

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Adyen to Offer JCB Card-on-File Tokenization

Tue, 13 May 2025 12:51:17 +0300

Merchants who use Adyen platform will soon benefit from even more secure credit card transactions with JCB Card-on-File (COF) Tokenization technology. Adyen, a global fintech platform that provides end-to-end payment solutions for businesses, is the first company to roll out JCB’s card-on-file (COF) tokenization service, designed to boost the security of online payments and authorization […]

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How Open Banking Progresses With API-Based Commercial Variable Recurring Payments (CVRPs)

Tue, 13 May 2025 11:38:25 +0300

E-commerce subscriptions are doubling every year, with Gen Z driving its snowballing popularity. Where there’s demand for subscriptions, there’s also a need for efficiency in recurring payments. CVRPs are getting significant interest share from merchants and payment service providers, making them a potential new stage in open banking progress. Types of Recurring Payments An average […]

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Virtual Card Payments Go Mainstream in U.S.

Mon, 12 May 2025 23:46:36 +0300

Not only do Gen Z and millennials in the U.S. embrace virtual cards, but also older age cohorts resort to this innovative payment method if providers manage to raise proper awareness. A consumer survey published by PYMNTS Intelligence and Elan revealed that more than 40% of U.S. shoppers used a virtual card in the past […]

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Byline Bank Expands Payments and Fintech Banking Group

Mon, 12 May 2025 21:56:07 +0300

Byline Bank on Monday, May 12, announced the expansion of the Payments and Fintech Banking division. The mentioned lender stated that the specified extension highlights significant investments in embedded finance and modern digital payment solutions. Byline has made significant actions in the fintech sector. It is worth clarifying that in this case, the actions relate […]

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Saudi Arabia Launches New AI Company

Mon, 12 May 2025 21:45:16 +0300

Saudi Arabia has launched a company to invest across the artificial intelligence value chain. The statement, which was published by the Saudi Press Agency, contains information that the new company has been named HUMAIN. This company is part of the ownership structure of the kingdom’s Public Investment Fund. The financial volume of the mentioned fund […]

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Alipay Launches Voice Call to Boost Financial Security

Mon, 12 May 2025 21:39:16 +0300

Alipay has launched a voice call feature that allows consumers to double-check their real identity before making fund transfers. The mentioned brand provides users with access to one of the most popular virtual wallets in China. The new feature was embedded in the input field of a chat window along with other features like sending […]

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Relevance AI Raises $24 Million

Mon, 12 May 2025 21:28:38 +0300

Relevance AI has secured $24 million in Series B funding. The mentioned company stated that the funding received is an important milestone on its path to building the definitive home of the artificial intelligence workforce. The funding round was led by Bessemer Venture Partners. The company’s long-term partners, including King River Capital, Insight Partners, and […]

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NymCard Launches Open Finance Services

Mon, 12 May 2025 19:20:41 +0300

NymCard, the leading embedded finance platform in the MENA region (Middle East and North Africa), has announced that it has been officially licensed to provide Open Finance services to consumers. The mentioned licensing was carried out in accordance with the regulatory framework of the central bank of the United Arab Emirates in relation to the […]

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DeFi Technologies Receives Approval to List on Nasdaq

Sun, 11 May 2025 09:00:26 +0300

DeFi Technologies, which operates in the fintech industry and is a pioneer in the area of convergence of traditional capital markets with the decentralized finance sector, announced that it has received approval to list its common shares on the Nasdaq Capital Market. Trading is expected to start as early as next week. The company announced […]

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