credit cards – BOL News Staging

Mastercard, LMKR to simplify commuter experience

December 3, 2021 by Muhammad Zubair

KARACHI: Mastercard has announced a strategic partnership with LMK Resources Pakistan (Private) Limited (LMKR) to oversee the deployment of the country’s first open-loop transit payment solution, a statement said The collaboration will enable commuters to top-up and pay their transit fares simply by using their debit and credit cards or digital wallets, eliminating the need … Read more

The biggest bank of El Salvador collaborates with Flexa

September 10, 2021September 10, 2021 by Syed Ahad

Bancoagrícola will work with Flexa to accept BTC across the bank’s network for payments such as loans and credit cards.

Bancoagrícola, El Salvador’s biggest financial institution, is set to increase the country’s Bitcoin acceptance policy following its partnership with digital payments entrance Flexa.

According to a statement by Flexa, Bancoagrícola has inked a contract with the crypto payment network to allow Bitcoin (BTC) transfers for the bank’s customers, counting retail and merchant customers.

As part of the partnership, Bancoagrícola clients can make credit card payments denominated in US dollars through Flexa or further Lightning Network-enabled wallets like Chivo and Éclair. As per the release, these payments will not appeal to any additional fees and will cover loans and merchant goods, among others.

Flexa just added support for Lightning payment with the feature reportedly intended for merchant customers.

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TikTok Influencers Forbidden from Promoting Cryptocurrencies

July 9, 2021 by Syed Ahad

TikTok, a very popular video-sharing application that is partly responsible for the rise of meme cryptocurrencies like Dogecoin, has banned its users from promoting cryptocurrencies, stated British Newspaper.

Apart from cryptocurrency, TikTok has recently modified branded content policy which prohibits many other financial services and products, including loans, credit cards, and forex trading.

For promoting certain products, popular social media profiles are generally paid.

To cater to the app’s young consumers, several big fintech businesses, such as Revolut, would work with “fintok”(a very particular corner of the country’s fastest-growing social media app) influencers.

On the other hand, the new policy will put an end to such collaborations.

There were fears that some fraudulent users were looking for young people’s gullibility and with the lack of investment knowledge.

The firm has also improved its approach to user safety by implementing a system that deletes any films that breach its guidelines instantly:

“Over the next few weeks, we’ll begin using technology to automatically remove some types of violative content identified upon upload, in addition to removals confirmed by our Safety team.”

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