#IBAN verification

[littlebellesmama]

Verification of Payee: The EU’s New Rule That Will Make Payments Safer by 2025

Digital payments are fast, easy, and convenient—but they’re not foolproof. Every year, thousands of people across Europe lose money to fraud or simple banking errors, often because of one tiny detail: the wrong name on a bank account. To solve this, the European Union is rolling out a powerful new regulation: Verification of Payee (VoP). Starting October 9, 2025, all banks and payment providers…

[startupdotpk]

How to Register for Sales Tax in Pakistan (2025): Provincial Step-by-Step Guide for Businesses

Introduction to Sales Tax in Pakistan

Sales tax in Pakistan is a value-added tax (VAT) imposed on the sale and purchase of goods and certain services. It is governed by the Sales Tax Act, 1990 and administered by the Federal Board of Revenue (FBR). Businesses that make taxable supplies are required to register for sales tax and comply with monthly filing and payment obligations. Registration brings a business into the formal economy and allows it to claim input tax adjustments.

Who Needs to Register for Sales Tax?

Mandatory Registration Under Section 14 of the Sales Tax Act, registration is mandatory for: - Manufacturers - Wholesalers, dealers, and distributors - Retailers (meeting certain turnover thresholds) - Importers - Service providers (in specific sectors or provinces under respective laws) - Exporters (to obtain zero-rating) Additionally, any person whose taxable turnover exceeds Rs. 10 million per annum or who maintains a business premises is legally bound to register. Voluntary Registration Businesses not falling under the above categories can voluntarily register to avail benefits like input tax credit and to build credibility.

Sales Tax Registration Procedure (FBR Portal)

Sales tax registration is done online via the FBR’s IRIS portal. Here's a step-by-step breakdown: Step 1: NTN Registration Before registering for sales tax, the business must obtain a National Tax Number (NTN): - Visit: https://iris.fbr.gov.pk - Create a user account - Provide details: CNIC, business type, address, contact info, etc. - Upload documents (e.g., CNIC, electricity bill, rent agreement/ownership docs) Click here to read our step by step NTN registration guide  Step 2: Access IRIS for Sales Tax Registration Once the NTN is issued: - Login to the IRIS portal - Select “Form 14” – Application for Registration - Choose “Sales Tax” as the registration type Step 3: Provide Business Details Enter: - Business name - Legal structure (sole proprietorship, partnership, company, etc.) - Type of business (manufacturer, importer, retailer, etc.) - Premises information (address, proof of premises ownership/rental) - Bank account information (with IBAN and letter from bank) - Utility bill of premises (not older than 3 months) - Email and mobile number (both must be verified) Step 4: Biometric Verification - Sole proprietors and individuals must complete biometric verification at a NADRA e-Sahulat center Step 5: Verification and Issuance - FBR will verify the application through: - Physical site verification - Utility bills - Geo-tagging of premises (sometimes) - If approved, a Sales Tax Registration Number (STRN) is issued

Post-Registration Compliance

After registration, a business must: a. Issue Sales Tax Invoices - Maintain computerized or manual invoice books with STRN mentioned - Each invoice must show: - Serial number - Date - Buyer and seller name & STRNs - Description, quantity, and value of goods - Rate and amount of sales tax b. File Monthly Sales Tax Returns - Form STR-1 must be submitted monthly - Due date: By the 18th of every month - Include: - Output tax collected - Input tax paid - Adjustments and refunds (if any) - Net tax liability c. Pay Sales Tax - Payable amount must be deposited via online banking or designated bank branches - PRAL or 1 Link systems are typically used d. Maintain Records Businesses are required to maintain complete records of: - Sales and purchases - Inventory - Invoices and credit/debit notes - Bank statements and ledgers - Record retention: 6 years Sales Tax Audit and Compliance Checks Registered businesses may be subject to: - Desk audits - Field audits by FBR officials - Penalties for: - Late filing - Underreporting - Fake/flying invoices - Non-payment of tax Deregistration or Suspension A business can apply for deregistration if: - It ceases taxable supplies - Its turnover drops below the threshold - There’s a change in legal structure or ownership FBR can also suspend STRN in case of: - Non-filing of returns - Failure to respond to notices - Use of fraudulent invoices Benefits of Sales Tax Registration - Legitimacy and enhanced market reputation - Eligibility to claim input tax credit - Participation in government tenders - Facilitation in exports (zero-rated sales) - Avoidance of penalties Provincial Sales Tax (For Services) If your business provides services, registration may also be required with provincial revenue authorities, such as: - Punjab Revenue Authority (PRA) - Sindh Revenue Board (SRB) - Khyber Pakhtunkhwa Revenue Authority (KPRA) - Balochistan Revenue Authority (BRA) Each province has its own portal and rules for sales tax on services. Click here to read the full step by step guide to sales tax registration for provincial authorities. Sales tax registration in Pakistan is a legal and strategic necessity for businesses engaged in taxable activities. While the process is digitalized and relatively straightforward, compliance demands timely filings, accurate invoicing, and proper recordkeeping. For businesses aiming to scale, export, or work with government departments, sales tax registration enhances credibility, eligibility, and operational transparency. Everything You Need to Legally Launch and Run a Business in Pakistan - SECP Registration Guide: Your journey starts with registering your business entity with the Securities and Exchange Commission of Pakistan—this is the legal foundation of your company. - NTN Registration Guide: Without an NTN, you can't open a business bank account or file taxes. Learn exactly how to get your National Tax Number via FBR’s IRIS system. - FBR Business Registration Explained: This critical step ensures you're recognized as a tax-paying business and can operate lawfully under FBR regulations. - PSEB Registration Guide: Registering with the Pakistan Software Export Board boosts your IT business’s credibility, unlocks tax incentives, and enhances global visibility and we’ve provided a complete step-by-step guide to make it easy. Skipping any of these steps puts your business at risk of penalties, shutdowns, or lost credibility. Follow this complete path to register, comply, and grow with confidence. FAQ 1). Is sales tax registration mandatory for all businesses? Yes, all service providers earning taxable revenue must register with their respective provincial authority. 2). What documents are required for registration? Basic requirements include: - CNIC & NTN - Business address & utility bill Business details (name, type, services 3). What is the difference between sales tax and income tax registration? all businesses? Sales tax applies to services rendered; income tax covers all taxable income. Both require separate registrations. 4). What are the current sales tax rates for services? - Punjab: 16% - Sindh: 15% (8% for digital payments in restaurants) - KPK, Balochistan, Islamabad: 15% Note: Rates may vary by sector or service category: 5). Can I register online? Yes. Each authority offers an online registration portal where you can apply and track your application status. Read the full article

[skygola]

How to Send Money Abroad from Dubai: A Complete Guide for 2025

Dubai is home to a large expatriate community that regularly sends money to family and businesses overseas. Whether you're supporting loved ones, making investments, or paying for international services, knowing how to send money abroad from Dubai efficiently, legally, and affordably is essential.

Here’s everything you need to know to make international money transfers from Dubai in 2025:

1. Bank Transfers

How it works: Most major banks in Dubai (Emirates NBD, ADCB, Mashreq, etc.) offer international remittance services.

Pros: Secure, regulated, and good for large amounts.

Cons: Higher fees, slower (1–3 business days), exchange rate margins.

Steps:

Visit your bank’s app or branch.

Provide recipient’s bank details (including SWIFT code and IBAN).

Confirm the amount and currency.

2. Money Transfer Services

Services like Western Union, MoneyGram, and Xpress Money are popular for their global reach and speed.

Pros: Fast (sometimes instant), cash pick-up available.

Cons: Higher fees for urgent or cash services.

How to send:

Visit a local agent or use the provider’s mobile app.

Submit ID and recipient details.

Pay in cash or via debit card.

3. Online Remittance Platforms

Modern digital platforms like Wise (formerly TransferWise), Remitly, CurrencyFair, and Instarem are gaining traction.

Pros: Lower fees, mid-market exchange rates, fast transfers.

Cons: Requires verification and bank account use.

How to use:

Create an account online.

Upload ID for verification.

Add recipient details and pay via bank transfer or card.

4. Exchange Houses

Licensed exchange houses like Al Ansari Exchange, Al Fardan Exchange, and Lulu Exchange are trusted and widely used in Dubai.

Pros: Competitive rates, accessible locations, good for cash transfers.

Cons: May require in-person visit.

Steps:

Visit a branch with valid Emirates ID.

Fill out a remittance form.

Pay in cash or by card.

Important Tips

Compare exchange rates: Always check multiple platforms for the best rates.

Understand limits: Different methods have daily/monthly sending limits.

Track your transfer: Use tracking numbers or apps for updates.

Stay compliant: Use licensed services to ensure your transfer is legal and secure.

Final Thoughts

Knowing how to send money abroad from Dubai gives you access to a wide range of fast, affordable, and reliable options. Whether you prioritize speed, cost, or convenience, Dubai’s advanced financial infrastructure offers a solution for everyone—from workers sending salaries home to entrepreneurs making global payments.

[mordorintelligencemarketresearch]

Banking as a Service (BaaS) Market: Growth, Trends, and Future Prospects

The Banking as a Service (BaaS) market is transforming the financial landscape by enabling non-bank businesses to offer banking services through APIs and cloud-based platforms. This model is driven by digital transformation, fintech innovations, and evolving consumer expectations. As a result, the BaaS market size is expanding rapidly, with traditional banks, fintech startups, and enterprises leveraging this approach to enhance financial accessibility. This blog explores the key trends, challenges, and future potential of the banking as a service market size. 

Banking as a Service Market Size and Growth Trends 

The global BaaS market size has been growing steadily due to the increasing adoption of digital banking solutions, open banking regulations, and demand for embedded financial services. Financial institutions, technology providers, and businesses are integrating BaaS into their ecosystems, leading to widespread expansion. The banking as a service market size is expected to continue its upward trajectory as new players enter the industry and innovative financial solutions gain traction.   

The Banking As A Service Market size is estimated at USD 6.74 billion in 2025, and is expected to reach USD 21.90 billion by 2030, at a CAGR of 26.6% during the forecast period (2025-2030).    Key Drivers of BaaS Market Growth 

Several factors contribute to the increasing prominence of the banking as a service market size: 

Rise of Embedded Finance  Businesses across various industries, including e-commerce, healthcare, and travel, are integrating banking services directly into their platforms. BaaS enables non-financial companies to offer payment processing, lending, and digital wallets, enhancing customer engagement. 

Advancements in Open Banking Regulations  Governments and financial authorities worldwide are promoting open banking initiatives, allowing third-party providers to access banking data securely via APIs. This regulatory shift is accelerating BaaS adoption and fostering competition in the financial sector. 

Fintech Innovation and Digital Transformation  Fintech startups are leveraging BaaS to build banking solutions without traditional infrastructure. Cloud computing, blockchain, and artificial intelligence (AI) further enhance the scalability and security of BaaS platforms. 

Cost-Effective Banking Solutions  Traditional banks are partnering with fintech firms to reduce operational costs and expand service offerings. BaaS enables banks to monetize their infrastructure by offering white-label banking solutions to third parties. 

Growing Consumer Demand for Seamless Digital Banking  Customers expect fast, user-friendly, and personalized banking experiences. BaaS facilitates instant account creation, digital lending, and real-time payments, meeting modern consumer expectations. 

Market Segmentation in the Banking as a Service Industry 

The BaaS market size can be categorized based on component, service type, enterprise size, and geography: 

1. By Component: 

Platform Providers: Offer API-based banking solutions. 

Banking Infrastructure Providers: Traditional banks enabling BaaS. 

Third-Party Developers: Fintech firms integrating BaaS into applications. 

2. By Service Type: 

Payment Processing Services: Digital payments, mobile wallets, and card issuance. 

Banking & Deposit Services: Account creation, virtual IBANs, and fund transfers. 

Lending & Credit Services: Buy Now, Pay Later (BNPL), micro-lending, and credit solutions. 

Compliance & Security Services: KYC/AML verification, fraud detection, and regulatory compliance. 

3. By Enterprise Size: 

Small and Medium Enterprises (SMEs): Cost-effective banking solutions for startups. 

Large Enterprises: Custom BaaS integrations for global financial operations. 

4. By Geography: 

North America: Leading market due to fintech innovation and regulatory support. 

Europe: Strong open banking regulations driving BaaS adoption. 

Asia-Pacific: Rapid digitalization and rising fintech investments. 

Latin America & Middle East/Africa: Emerging markets with increasing financial inclusion efforts. 

Challenges Facing the BaaS Market 

Despite its significant growth potential, the banking as a service market faces several challenges: 

Regulatory Complexity: Compliance with financial regulations varies across regions, requiring BaaS providers to navigate legal complexities. 

Cybersecurity Risks: As banking services move online, data breaches and fraud threats increase. 

Market Competition: Traditional banks, fintech startups, and tech giants are competing for market dominance. 

Integration Challenges: Ensuring seamless API connectivity and interoperability between financial institutions and third-party providers. 

Customer Trust and Adoption: Educating businesses and consumers on the benefits and security of BaaS solutions remains a challenge. 

Future Trends in the Banking as a Service Industry 

Expansion of Embedded Finance Ecosystems  More industries will integrate BaaS solutions, including real estate, insurance, and gig economy platforms. 

AI and Machine Learning in BaaS  Predictive analytics, fraud detection, and personalized financial services will be enhanced using AI-powered BaaS platforms. 

Blockchain and Decentralized Finance (DeFi)  The integration of blockchain technology will improve transaction transparency, security, and cross-border payments in BaaS. 

Rise of Super Apps Offering Financial Services  Tech giants and e-commerce platforms will expand their financial offerings, powered by BaaS solutions. 

Enhanced Regulatory Frameworks for Secure BaaS Adoption  Governments will introduce more standardized regulations to ensure secure and ethical use of BaaS services. 

Conclusion 

The banking as a service market size is expanding rapidly, driven by digital transformation, fintech innovations, and the growing demand for embedded financial solutions. As businesses integrate BaaS into their operations, consumers will benefit from seamless, accessible, and efficient banking experiences. However, challenges such as regulatory compliance, cybersecurity, and market competition must be addressed for sustainable growth. With ongoing technological advancements and supportive regulatory frameworks, the future of the BaaS market size looks promising, paving the way for a more inclusive and efficient financial ecosystem. 

  For a detailed overview and more insights, you can refer to the full market research report by Mordor Intelligence: https://www.mordorintelligence.com/industry-reports/global-banking-as-a-service-market 

[foloosi]

The Future of E-Commerce and Digital Business Opportunities in Dubai 2025:

E-commerce market has experienced exponential growth, with an estimated valuation of $9.2 billion by 2026. The digital business sector, including fintech and digital payments, is also set to surpass $30 billion as more companies shift towards online platforms. Key drivers include increasing smartphone adoption, government-backed digital initiatives, and evolving consumer behavior.

Market Size of E-Commerce and Digital Business in Dubai

E-commerce market has experienced exponential growth, with an estimated valuation of $9.2 billion by 2026. The digital business sector, including fintech and digital payments, is also set to surpass $30 billion as more companies shift towards online platforms. Key drivers include increasing smartphone adoption, government-backed digital initiatives, and evolving consumer behavior.

Groundbreaking E-Commerce Innovations: 

1. Invisible Payments: The Future of Checkout

What if payments happened without customers even noticing? Invisible payments use AI-driven authentication and background transactions to allow seamless, frictionless checkouts. Dubai-based e-commerce platforms are beginning to adopt this feature to reduce cart abandonment.

2. Autonomous Financial Assistants for Online Stores

AI-powered financial assistants now help e-commerce merchants predict cash flow, manage taxes, and optimize payment methods in real-time. These tools are integrated directly into online store dashboards, giving business owners proactive financial insights.

3. NFT-Based Product Authentication

To combat counterfeiting, Dubai’s high-end e-commerce businesses are leveraging NFT (Non-Fungible Token) verification. Customers can now check the authenticity of luxury goods, artwork, and digital assets through blockchain-registered ownership certificates.

4. Crypto Payment Gateways for Cross-Border Sales

E-commerce platforms in Dubai are enabling crypto transactions, making it easier for international buyers to shop without currency conversion hassles. Businesses are integrating multi-token wallets, allowing customers to pay in Bitcoin, Ethereum, and stablecoins.

5. Instant Refunds with Smart Contracts

Refund processing is getting faster with blockchain-powered smart contracts. These automated refund solutions ensure instant transactions once return conditions are met, eliminating long wait times and improving customer trust.

Groundbreaking Digital Business Innovations: 

1. Metaverse Commerce: Digital Shopping Redefined

Dubai is pioneering the Metaverse Mall, where customers can browse and purchase digital products with immersive AR/VR experiences. Businesses can create 3D storefronts, allowing customers to interact with products virtually before buying.

2. AI-Based Customer Support Avatars

Instead of traditional chatbots, Dubai businesses are launching AI-powered avatars that provide human-like customer interactions. These avatars can assist with orders, payments, and troubleshooting, enhancing customer experience without human intervention.

3. Virtual Business Banking Without Traditional Banks

Digital businesses in Dubai can now open bankless accounts that provide virtual IBANs, instant payments, and global financial management. These new fintech solutions bypass the need for physical banking, streamlining operations for startups and remote businesses.

4. Subscription-Based Digital Ownership

Dubai-based startups are exploring the concept of subscription-based asset ownership, allowing users to lease software, NFTs, and other digital assets through recurring payments. This model makes high-value digital goods more accessible.

5. Hyper-Personalized Ad Payments with Microtransactions

Instead of traditional advertising, businesses can now offer users pay-per-engagement models, rewarding them with microtransactions for interacting with ads, content, and brand promotions. This trend is reshaping digital marketing strategies in Dubai.

How These Innovations Benefit Consumers

Digital advancements in Dubai's e-commerce and fintech sectors aren't just beneficial for businesses—they also make life easier for consumers. Here’s how:

Seamless Shopping Experience – Invisible payments and AI-based financial assistants ensure smooth and quick transactions, eliminating checkout delays.

Enhanced Security – Features like NFT-based authentication and blockchain-powered refunds protect consumers from fraud and counterfeits.

More Payment Choices – With crypto gateways and digital banking solutions, consumers can pay in multiple currencies and even cryptocurrencies without conversion issues.

Greater Convenience – AI avatars and metaverse commerce create a highly personalized and engaging shopping experience, reducing the need for physical interactions.

Cost Savings & Rewards – Pay-per-engagement ad models allow consumers to earn while they interact, and subscription-based ownership makes digital goods more affordable.

Why is Dubai the Perfect Place for Digital Businesses?

Dubai’s strategic location, world-class infrastructure, and government support make it an ideal place for e-commerce and digital businesses to thrive. Here’s why:

Tech-Savvy Population: With one of the highest internet and smartphone penetration rates in the world, Dubai's consumers are always online, making digital businesses more viable.

Government Initiatives: The UAE government has launched several programs like the Dubai E-Commerce Strategy, which aims to strengthen online trade and attract global digital players.

Tax Benefits: Dubai offers tax-free zones that encourage entrepreneurs and global businesses to set up their digital ventures.

Strong Logistics Network: Dubai's advanced logistics and transport infrastructure ensure fast and efficient delivery of goods, boosting e-commerce operations.

Cashless Economy: The UAE is rapidly moving towards a cashless economy with digital payment options like Apple Pay, Samsung Pay, and local platforms

Final Thoughts

Dubai’s e-commerce future is full of exciting possibilities, offering businesses big and small the chance to grow like never before. As technology improves and more people shop online, the digital market will only get stronger. Success will come to those who focus on customer experience, seamless payments, and smart digital strategies. Whether you’re a new entrepreneur or an established business, now is the best time to embrace change and explore new opportunities. The future is all about making things faster, easier, and more enjoyable for everyone!

🚀 Power Your Business with Foloosi! Seamlessly accept payments with Foloosi’s all-in-one payment gateway. Fast, secure, and built for UAE businesses. 👉 Explore Now

[ensleycrane66]

How to Create a Payoneer Account: A Step-by-Step Guide

Simplify your global transactions with a payoneer business account—your gateway to smooth, borderless financial operations. Why let complex payment systems hold you back when success is within reach? Manage your earnings, connect with clients worldwide, and let your business thrive. Take the first step toward effortless financial control today—opportunities await!

Payoneer is a global financial platform that simplifies online payments for freelancers, businesses, and individuals. If you're looking to streamline your international transactions or manage your business finances, a Payoneer account is an excellent choice. In this guide, we’ll walk you through how to create a Payoneer account, set up a Payoneer business account, and link it to a Payoneer bank account.

Why Choose Payoneer?

Payoneer is popular for its ability to facilitate cross-border payments efficiently. Whether you’re a freelancer receiving payments from international clients, an e-commerce seller managing global sales, or a business handling payouts, Payoneer offers a seamless experience.

Step 1: Visit the Payoneer Website

To start, visit the official Payoneer website. You can also follow this link for detailed insights on managing your finances.

Step 2: Click “Sign Up”

On the homepage, locate the Sign Up button. Payoneer offers different account types, so ensure you select the one that suits your needs. If you're creating a Payoneer business account, choose the appropriate option during the sign-up process.

Step 3: Fill Out Your Personal or Business Information

For Individuals: Enter your name, email, and password. You’ll also need to provide identification details for verification.

For Businesses: Input your company’s legal name, business email, and other necessary details.

Ensure that all information is accurate to avoid delays during the verification process.

Step 4: Link a Bank Account

After entering your details, you’ll need to link a bank account to your Payoneer account. This is essential for transferring funds between Payoneer and your local bank.

Go to the Bank Accounts section.

Add your bank details, including account number, IBAN, and SWIFT code (if applicable).

Verify your bank account by following Payoneer’s instructions.

Step 5: Submit Verification Documents

Payoneer requires users to upload specific documents to verify their identity or business legitimacy. Examples include:

A government-issued ID (passport, driver’s license, or national ID).

A utility bill or bank statement for address verification.

Business registration documents for Payoneer business accounts.

Verification usually takes a few days, so ensure your documents are clear and valid.

Step 6: Start Using Your Payoneer Account

Once approved, you can start receiving payments, sending invoices, and managing your finances with ease. Payoneer also provides a virtual Payoneer bank account, enabling you to receive payments in multiple currencies, such as USD, EUR, GBP, and more.

Benefits of a Payoneer Business Account

Global Reach: Accept payments from clients worldwide.

Multi-Currency Accounts: Manage funds in multiple currencies without conversion fees.

Integration: Link your Payoneer account with e-commerce platforms like Amazon, Upwork, or Fiverr.

Final Thoughts

Creating a Payoneer account is straightforward and beneficial for individuals and businesses aiming to manage international payments efficiently. Whether you need a personal account or a Payoneer business account, the process is user-friendly.

Visit Upskills Finance to explore more about managing your finances effectively. Start your journey today and enjoy seamless financial transactions with Payoneer!

[rahulpeyter]

Virtual Card Buy For Global Bank Account

If you want to purchase a virtual card using a global bank account, here’s a detailed guide on how to proceed:

Steps to Buy a Virtual Card with a Global Bank Account:

Select a Virtual Card Provider:

Choose a reputable virtual card provider that supports global bank accounts. Some well-known providers include Privacy.com, Revolut, Payoneer, Neteller, and Wise (formerly TransferWise).

Sign Up and Verify:

Create an account with the chosen provider and complete any necessary verification processes. This may include providing identification documents and verifying your bank account.

Link Your Global Bank Account:

Navigate to the payment or funding section on the provider’s platform.

Add your global bank account details to link it as a funding source. You may need to provide your bank account number, SWIFT/BIC code, and other relevant information.

Request a Virtual Card:

Choose the type of virtual card you need (e.g., single-use, recurring, specific spending limits).

Configure the card with your desired settings, such as spending limits and usage restrictions.

Fund the Virtual Card:

Transfer funds from your global bank account to the virtual card. Follow the provider’s instructions for transferring funds. This might involve direct bank transfers, wire transfers, or other payment methods supported by your global bank account.

Activate and Use the Virtual Card:

Once the card is funded, activate it if required.

Use the virtual card details (card number, expiration date, CVV) for online transactions.

Popular Providers and Their Features:

Privacy.com:

Offers virtual cards primarily linked to U.S. bank accounts. Limited support for international bank accounts.

Revolute:

Provides virtual and physical cards.

Supports multiple currencies and global bank accounts.

Easy integration and instant issuance of virtual cards.

Pioneer:

Facilitates global payments and offers virtual cards.

Suitable for international freelancers and businesses.

Can link various global bank accounts for funding.

NE teller:

Offers virtual cards and supports multiple global bank accounts.

Commonly used for online gaming and e-commerce transactions.

Wise (TransferWise):

Provides virtual cards linked to multi-currency accounts.

Low conversion fees and supports global bank accounts.

Ideal for international transactions and online purchases.

Example Process with Wise:

Create a Wise Account:

Sign up and complete the necessary verification.

Add Global Bank Account:

Link your global bank account by providing the required details (IBAN, SWIFT/BIC, etc.).

Add Funds:

Transfer funds from your global bank account to your Wise account. Wise supports various transfer methods, making it convenient for international users.

Request a Virtual Card:

Go to the cards section and request a virtual card.

Set your spending limits and preferences.

Use the Virtual Card:

Once the card is activated and funded, use the virtual card details for online transactions.

By following these steps and considering the tips provided, you can efficiently buy and use a virtual card with a global bank account for your online transactions.

[drewssam]

XRP Labs’ GateHub Integration for Fiat On/Off-Ramp Live Soon for EU

XRPL Labs is expanding its GateHub integration to enhance its fiat on/off-ramp service for XUMM Pro wallet users in Europe, following its recent launch in the Netherlands. This service facilitates the exchange of Euro for XRP and vice versa.

Wietse Wind, founder of XRPL Labs, announced the expansion, emphasizing that the GateHub integration would accommodate multiple fiat on/off-ramps, including Banxa. The annual fee for the on/off-ramp service is set at $60 for XUMM Pro wallet users in the EU, with additional features promised beyond fiat exchange.

Wind noted that fees for GateHub users would vary based on decisions made by GateHub and other involved parties. Plans to extend the fiat on/off-ramp service to Belgium, the UK, and Germany have also been expressed.

Compliance with KYC procedures, including verification through Dutch passport, bank account, or proof of address, is mandatory for Netherlands users, with similar measures expected for other EU countries.

The process involves users transferring Euros from their IBAN account to receive instant XRP. XRPL Labs aims to uphold decentralization while advancing its infrastructure for green and efficient operations. The company also announced ongoing developments in smart contracts, NFTs, and sidechains, reflecting its commitment to innovation in the cryptocurrency space.

[fintechandmore]

Understanding Wire Transfers: A Detailed Dive

What is a Wire Transfer?

Wire transfers are electronic funds from one individual or entity to another. Wire transfers have evolved into a digital service that allows instant movement of funds between bank accounts worldwide. The transaction is completed via a network through telecommunication wire networks or digital infrastructures such as SWIFT (Society for Worldwide Interbank Financial Telecommunication). With wire transfers, the transaction can be completed in a matter of minutes or hours and is safe.

International and domestic wire transfer are highly dependable, even though wire transfers have high fees.

How Does It Work?

The process begins when a person sends money from their bank account to another individual's or company's bank account. The sender provides the recipient's name, bank account number, and bank routing number. In the case of international transfers, additional information such as the SWIFT or IBAN (International Bank Account Number) codes of the recipient's bank is required.

Once the details are confirmed, the sender's bank sends a message to the recipient's bank through a secure system, requesting the transfer of funds according to the sender's instructions. Upon the recipient's bank's approval, the funds are debited from the sender's account and credited to the recipient's account. This process can take several hours to a few days, depending on the banks and countries involved.

When to Use a Wire Transfer?

Wire transfers are often used when quick, secure, and direct transfer of funds is necessary. They are especially useful for large and time-sensitive transactions, as they can typically be completed within the same day domestically or one to five business days internationally. Examples of when to use a wire transfer include purchasing a home, sending money to family or friends abroad, paying for an international business transaction, or funding an investment account.

Benefits of Wire Transfer

Wire transfers provide a fast and secure method of transferring funds. They are a preferred method for large transactions as they allow for the immediate availability of funds, which can be crucial in time-sensitive purchases like real estate. They also offer a level of security and reliability, as both sender and receiver must have legitimate bank accounts that have undergone bank verification processes.

Risks Involved While Making a Wire Transfer

Despite their benefits, wire transfers carry some risks. They are often irreversible once the recipient's bank accepts the transfer, making them a common target for fraudsters. If a wire transfer is sent to the wrong account, it can be challenging to retrieve the funds. Also, personal information shared during the process could be at risk if it falls into the wrong hands. Hence, it's vital to double-check all details and only wire money to trusted recipients.

Difference Between Wire Transfer and Bank Transfer

While wire transfers and bank transfers involve moving funds from one account to another, key differences exist. Wire transfers are more immediate, secure, and reliable for large transactions, but they often come with fees, especially for international transfers. On the other hand, regular bank transfers, including ACH (Automated Clearing House) transfers, might take longer but usually come with lower or no fees.

In conclusion, wire transfers are convenient for quickly and securely transferring funds, especially for large amounts or international transactions. However, it's important to use this service wisely, be aware of potential risks, and understand how it differs from other types of bank transfers.

[idenfy]

🚀iDenfy identity verification service is excited to announce a new partnership with Mistertango!

🚀Mistertango is a fintech company offering dedicated IBAN accounts to individuals and businesses. Their business idea is based on providing free banking services, with profits generating from value-added services and business customers.

[kingsgenaccountgenerator-blog]

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[bowsetter]

Regulators Tackle Businesses in Europe’s Crypto-Friendly Nations

There’s a group of countries on the Old Continent that have recognized the potential of the newly forming cryptoconomy. In the past couple of years, nations such as Malta, Switzerland and Estonia have been making efforts to attract businesses from the nascent industry, often rebuffed elsewhere. However, registering and running a crypto company, even in the most favorable climates, comes with certain challenges as businesses across the continent have been finding out.

Also read: Online Bank Mistertango Offers Crypto Companies Multiple Accounts and Ibans

Four Months Later, Malta Approves First Crypto Asset Agents

Financial authorities in Malta, a nation which takes pride in calling itself the Blockchain Island, recently approved 14 entities that will become the first Virtual Financial Asset (VFA) agents in the country. They will serve as intermediaries between crypto companies and the Malta Financial Services Authority (MFSA) which issued the approvals.

The agents are expected to provide guidance and assistance with legal and accounting matters to businesses and entrepreneurs on behalf of the regulator. These include token issuers and service providers operating under the country’s Virtual Financial Assets Act which came into force in November. The certified agents will be responsible for evaluating business plans and conducting due diligence under the anti-money laundering regulations.

The approvals have been granted “in principle,” which means the details need to be clarified, as the local press reported. That happened more than four months after the filing of the first 28 applications and almost a year and a half since Malta began working on its crypto regulatory framework.

Despite this important milestone in government efforts to create the necessary conditions for the industry, crypto companies continue to experience difficulties in their business activities on the island. Banks, for example, have been refusing to provide them basic financial services such as the opening of an account.

Strict Regulations Slow Maltese Registration

To find out more about the obstacles facing crypto businesses and authorities in Malta and other countries, news.Bitcoin.com contacted SBSB Legal Services. The law firm, which has offices in Moscow, Kiev, Tallinn, and Prague, has expertise in the field and experience with fintech and crypto regulations across multiple European jurisdictions.

According to Julia Demskaya, legal expert at SBSB, the approval process for the first VFA agents in Malta has taken a lot of time because of the absence of prior regulatory practice. These agents will be obliged to ensure the full compliance of their clients with the law. “It’s likely that the regulator’s requirements are too strict and not every applicant has been able to prove that their verification procedures would prevent money laundering or the funding of illegal activities,” she said.

Demskaya further commented that the specifics of registering a company in Malta depend on the nature of its business. What’s common in all cases is the requirement to open an office in the country, which can be fulfilled with the help of a VFA agent. Entities must also hire personnel with expertise in their particular field. Firms working with smart contracts, for instance, will have to employ a system auditor. And if the company is unable to do that, the regulator will assign a qualified professional.

Asked which of the major crypto-friendly countries in Europe, such as Malta, Gibraltar, Switzerland, and Estonia, offers the best conditions for businesses from the industry, Demskaya said that the answer depends on the business activity. Estonia offers the best conditions for crypto trading platforms. The low initial capital needs, the fast licensing process and the favorable taxation have turned the tiny Baltic nation into a leader among similar jurisdictions.

However, towards the end of last year, news came out that authorities in Tallinn are preparing to tighten the licensing regime for crypto companies. According to SBSB’s representative, it’s still hard to guess what the stricter regulations would look like, but the new Estonian requirements are likely to be similar to those adopted in Malta and may include additional licensing for certain activities.

Switzerland: Expensive Destination for High Level Projects

“When we talk about reputation and if we want to present a high level project, of course the choice falls on Switzerland or Liechtenstein,” Julia Demskaya noted. “However, launching in these countries requires a considerable budget, starting from 500,000 euros. On the other hand, working with banks as well as with customers there would be much easier compared to Estonia.”

Talking about other jurisdictions in Europe, Demskaya commented on the situation in Ukraine and the Russian Federation, where a number of “gray and black” crypto platforms are currently operating. She believes it’s very hard to oversee and prevent their activities when there’s no legislation in place prohibiting or regulating cryptocurrency-related business.

“Introducing dedicated legislation would be the optimal solution, which would allow this type of businesses to be brought to light and possibly granted preferential tax treatment, which would make Ukraine an attractive country for investments. However, given the level of economic development and corruption in our country, even such conditions are unlikely to attract foreign capital,” the legal expert concluded.

What do you think about crypto regulations in Europe? Share your thoughts on the subject in the comments section below.

Images courtesy of Shutterstock.

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The post Regulators Tackle Businesses in Europe’s Crypto-Friendly Nations appeared first on Bitcoin News.

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[helphubua]

Ukrainians launched HelpHubUA: a platform where you can donate directly to verified volunteer initiatives

A new platform, HelpHubUA, makes it easier for foreigners to donate directly to verified Ukrainian volunteer initiatives and avoid scams.

Ukrainian citizens launched a new project, HelpHubUA, to connect emergency volunteer fundraising initiatives from Ukraine with activists and donators abroad. This is an online platform that has only verified initiatives and provides different payment methods (PayPal, IBAN, etc.).

The platform, instructions, and details are available in multiple languages, and supporters can stay in touch through a dedicated social media channel. The website is easy to operate: go to the page, read the details of the humanitarian needs, filter by region and type of help (children, the elderly, animal shelters, etc.), and find an initiative you’d like to support.

All volunteer organizations that registered and placed a need on the website are verified and trusted. Each organization fills out a questionnaire about its structure, its needs, past fundraising campaigns, with photo or video proof of previous results (photos or videos, screenshots of payments, feedback from those who were supported). Additionally, the verification process requires references and recommendations.

“There are people all over the world who want to help Ukrainians and at the same time thousands of volunteer initiatives inside Ukraine trying to raise funds to cover the costs of medication, equipment, food, relocation, and more. These initiatives require immediate and emergency help, yet they lack the capacity to run and promote large crowdfunding campaigns. Activists are limited to posting fundraising requests on their Facebook pages in Ukrainian and are failing to reach audiences outside Ukraine. We have built the platform to unite volunteers and donors in their desire to help and save Ukrainians. And we are going to spread info so that they find each other faster.” — said Iryna Shostak, СEO Linza Agency and founder at HelpHubUA.

HelpHubUA was launched in 2022 by Linza Agency, a communication and full-cycle communication and production company from Kyiv. The project is non-profit.

To get more news and updates, and connect with other supporters around the world, join us on Facebook and Instagram. For any additional information or volunteer inquiries, please send us an email at helphubua@gmail.com.

[foloosi]

The Future of E-Commerce and Digital Business Opportunities in Dubai 2025:

E-commerce market has experienced exponential growth, with an estimated valuation of $9.2 billion by 2026. The digital business sector, including fintech and digital payments, is also set to surpass $30 billion as more companies shift towards online platforms. Key drivers include increasing smartphone adoption, government-backed digital initiatives, and evolving consumer behavior.

Dubai has always been a city of innovation, a place where the future is not just imagined but actively built. As we move towards 2025, the e-commerce and digital business landscape in Dubai is transforming at an unprecedented pace. In this blog post, we will explore the exciting future of digital commerce in Dubai, uncover the new trends, and highlight unique business opportunities that are emerging in this vibrant city.

Market Size of E-Commerce and Digital Business in Dubai

E-commerce market has experienced exponential growth, with an estimated valuation of $9.2 billion by 2026. The digital business sector, including fintech and digital payments, is also set to surpass $30 billion as more companies shift towards online platforms. Key drivers include increasing smartphone adoption, government-backed digital initiatives, and evolving consumer behavior.

Groundbreaking E-Commerce Innovations: 

1. Invisible Payments: The Future of Checkout

What if payments happened without customers even noticing? Invisible payments use AI-driven authentication and background transactions to allow seamless, frictionless checkouts. Dubai-based e-commerce platforms are beginning to adopt this feature to reduce cart abandonment.

2. Autonomous Financial Assistants for Online Stores

AI-powered financial assistants now help e-commerce merchants predict cash flow, manage taxes, and optimize payment methods in real-time. These tools are integrated directly into online store dashboards, giving business owners proactive financial insights.

3. NFT-Based Product Authentication

To combat counterfeiting, Dubai’s high-end e-commerce businesses are leveraging NFT (Non-Fungible Token) verification. Customers can now check the authenticity of luxury goods, artwork, and digital assets through blockchain-registered ownership certificates.

4. Crypto Payment Gateways for Cross-Border Sales

E-commerce platforms in Dubai are enabling crypto transactions, making it easier for international buyers to shop without currency conversion hassles. Businesses are integrating multi-token wallets, allowing customers to pay in Bitcoin, Ethereum, and stablecoins.

5. Instant Refunds with Smart Contracts

Refund processing is getting faster with blockchain-powered smart contracts. These automated refund solutions ensure instant transactions once return conditions are met, eliminating long wait times and improving customer trust.

Groundbreaking Digital Business Innovations: 

1. Metaverse Commerce: Digital Shopping Redefined

Dubai is pioneering the Metaverse Mall, where customers can browse and purchase digital products with immersive AR/VR experiences. Businesses can create 3D storefronts, allowing customers to interact with products virtually before buying.

2. AI-Based Customer Support Avatars

Instead of traditional chatbots, Dubai businesses are launching AI-powered avatars that provide human-like customer interactions. These avatars can assist with orders, payments, and troubleshooting, enhancing customer experience without human intervention.

3. Virtual Business Banking Without Traditional Banks

Digital businesses in Dubai can now open bankless accounts that provide virtual IBANs, instant payments, and global financial management. These new fintech solutions bypass the need for physical banking, streamlining operations for startups and remote businesses.

4. Subscription-Based Digital Ownership

Dubai-based startups are exploring the concept of subscription-based asset ownership, allowing users to lease software, NFTs, and other digital assets through recurring payments. This model makes high-value digital goods more accessible.

5. Hyper-Personalized Ad Payments with Microtransactions

Instead of traditional advertising, businesses can now offer users pay-per-engagement models, rewarding them with microtransactions for interacting with ads, content, and brand promotions. This trend is reshaping digital marketing strategies in Dubai.

How These Innovations Benefit Consumers

Digital advancements in Dubai's e-commerce and fintech sectors aren't just beneficial for businesses—they also make life easier for consumers. Here’s how:

Seamless Shopping Experience – Invisible payments and AI-based financial assistants ensure smooth and quick transactions, eliminating checkout delays.

Enhanced Security – Features like NFT-based authentication and blockchain-powered refunds protect consumers from fraud and counterfeits.

More Payment Choices – With crypto gateways and digital banking solutions, consumers can pay in multiple currencies and even cryptocurrencies without conversion issues.

Greater Convenience – AI avatars and metaverse commerce create a highly personalized and engaging shopping experience, reducing the need for physical interactions.

Cost Savings & Rewards – Pay-per-engagement ad models allow consumers to earn while they interact, and subscription-based ownership makes digital goods more affordable.

Why is Dubai the Perfect Place for Digital Businesses?

Dubai’s strategic location, world-class infrastructure, and government support make it an ideal place for e-commerce and digital businesses to thrive. Here’s why:

Tech-Savvy Population: With one of the highest internet and smartphone penetration rates in the world, Dubai's consumers are always online, making digital businesses more viable.

Government Initiatives: The UAE government has launched several programs like the Dubai E-Commerce Strategy, which aims to strengthen online trade and attract global digital players.

Tax Benefits: Dubai offers tax-free zones that encourage entrepreneurs and global businesses to set up their digital ventures.

Strong Logistics Network: Dubai's advanced logistics and transport infrastructure ensure fast and efficient delivery of goods, boosting e-commerce operations.

Cashless Economy: The UAE is rapidly moving towards a cashless economy with digital payment options like Apple Pay, Samsung Pay, and local platforms

Final Thoughts

Dubai’s e-commerce future is full of exciting possibilities, offering businesses big and small the chance to grow like never before. As technology improves and more people shop online, the digital market will only get stronger. Success will come to those who focus on customer experience, seamless payments, and smart digital strategies. Whether you’re a new entrepreneur or an established business, now is the best time to embrace change and explore new opportunities. The future is all about making things faster, easier, and more enjoyable for everyone!

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[virtualvisacripto]

Buy Virtual Visa Card With Bitcoin

A new way to pay with your Bitcoins is with a virtual Visa card. Cryptopay is an electronic money product issued by UAB PAYRNET, which is licensed by the Bank of Lithuania to conduct electronic money service activities. Buy Virtual Visa card with Bitcoin CPS Transfers Ltd. is the Card Programme Manager. The card is not covered by the Financial Services Compensation Scheme. The funds on your card are held in a segregated account. The card can only be used within the EU.

You can buy a virtual Visa card with Bitcoin by visiting any website offering these services. This card works like a regular credit card and is sent to you via email. Once you have it, you can use it to shop online or pay for services in countries all over the world. You can use it anywhere and anytime you want. It's safe, anonymous, and available instantly. All you have to do is provide your bitcoin wallet address.

If you have a small amount of Bitcoin, you can purchase a credit card with a bitcoin reward. The BlockFi card allows you to earn 2% APY. The downside of using Bitcoin is that you can't convert your rewards into real money. You can't time the rewards to coincide with Bitcoin price spikes. However, it does offer a $250 signup bonus when you spend US$3,000 in three months.

A virtual card is a great way to use Bitcoin in a variety of ways. You can use it for purchases in physical stores and on the Internet. You can also send IBAN payments to any bank account in the world. These cards are easy to use, and will allow you to spend your Bitcoin at any location. You can even store your Bitcoin change in a Lightning Network wallet. Then, you'll have a secure wallet to use to receive and send payments.

Once you've set up your wallet, you're ready to buy your card. To do this, go to Freewallet. Then, login and navigate to the "Buy With a Card" section. There, you'll need to enter your currency and the amount of money you want to spend. Select the payment provider you want to use - Simplex or Moonpay. Once the verification process is complete, enter the card details.

The benefits of a virtual Visa card are numerous. You can get a card within minutes of applying. Unlike a real card, there are no waiting times or trading fees. Plus, the card doesn't require a Gemini account. You can load 30 cryptocurrencies on it and spend them anywhere you like. This card comes with an app for iOS and Android that lets you track your expenses, freeze your card instantly, and more.

Wirex is another service you can use to buy a virtual card. You can order the card through their app and get it shipped to you within 7 to 9 days if you live in the EU or EEA. Once it arrives, you'll need to load it with crypto. The Wirex card issuing bank is Wirecard Card Solutions Ltd, which was part of PayPal's incubation program. The company has developed platform tokens that are used for regulated and utility purposes. The cards are also backed by a stable wallet.

The Moon Visa(r) Prepaid Card is another option for buying virtual cards. This card is loaded with crypto and can be used at millions of online merchants. It only takes 2 clicks to add it to your browser. The digital card will then convert to USD, and your crypto will be available instantly for use. If you have a Lightning Network wallet or Coinbase account, you can buy Moon Cards from both of these services.

Besides being accepted anywhere a Visa card is displayed, the Coinbase card also lets you spend your cryptos at any merchant who accepts the symbol. Coinbase's cards earn 4% cashback on purchases and auto-convert all crypto to USD. The card also offers world-class security with two-step verification and contactless withdrawals. Withdrawals can also be made with a virtual card. The Coinbase card is available in three countries.