January has witnessed numerous significant developments in the payments sector, including a string of regulation changes, new licences, and partnerships.Here, we run through five of the top payment stories from January, featuring PayMint, X, PagBrasil, the European Parliament and more.EU PSPs brace for first Instant Payments Regulation implementation deadlineThe first IPR implementation deadline arrived in JanuaryThe first Instant Payments Regulation (IPR) implementation deadline came into effect on 9 January, bringing new provisions for instant credit transfers.Payment service providers (PSPs) offering credit transfers in euro area member states must now also be able to receive instant credit transfers in real-time, with requirements for funds to be credited to the payee’s account within 10 seconds.According to the European Central Bank: “Any charges levied by a PSP for sending and receiving instant credit transfers shall not be higher than the charges levied by that PSP in respect of sending and receiving other credit transfers of corresponding type.”Read more hereUK’s FCA and PSR unveil plans for new “independent central operator” to spur growth of VRPsThe UK’s Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have laid out their plans for the future of open banking in the country, which includes setting up a new “independent central operator” to drive the growth of variable recurring payments (VRPs), the FCA says.The operator will “coordinate how variable recurring payments are made”, the regulator says, with Open Banking Limited set to play “a key role” in its establishment.The FCA is also “working with industry and trade associations to progress development of the commercial arrangements underpinning both variable recurring payments and use of open banking for e-commerce”.The launch of new open banking services later this year is expected to provide both consumers and businesses with “more choice in how they make and receive payments safely, securely, and efficiently” the regulator adds.Read more hereEgyptian fintech PayMint launches Meeza prepaid card offering in partnership with ADIB-EgyptPayMint partners ADIB-Egypt to launch new card offeringEgyptian fintech PayMint has received final approval from the Central Bank of Egypt to launch its Meeza prepaid card offering in collaboration with Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt).The newly launched Meeza prepaid cards will enable users to carry out everyday transactions, including cash withdrawals, in-store purchases, and online shopping within Egypt.Moreover, PayMint says cardholders will be able to “monitor their usage, check their available balance, and manage their cards” through its mobile app.Mohamed Rabie, MD and founder of PayMint, adds that the new card offering is “targeted at individual customers, including permanent and temporary workers for companies, freelancers, and suppliers, enabling them to receive thei
Ven. Gen 31st, 2025
