#National Electronic Funds Transfer

[jaiminiofficial]

Digital Payment Methods In India

Digital Payment Methods In India Digital Payment Methods In India As of my last knowledge update in January 2022, India has a diverse range of payment options, both traditional and digital. Keep in mind that the payment landscape is dynamic, and new options may emerge. Here’s a list of commonly used payment options in India: Cash: Physical currency is still widely used for transactions. Debit…

[darkmaga-returns]

Iranian and Russian card payment systems were formally linked on 11 November, coming as the two nations have been working together to circumvent economic sanctions imposed by Washington and the west. 

The announcement was made on Monday during a ceremony attended by the Governor of Iran’s Central Bank Mohammad-Reza Farzin. 

During the ceremony, “a previous agreement on the connection of Iran’s Shetab and Russia’s Mir card payment systems for electronic fund transfers took effect,” Iran’s Tasnim news agency reported. 

“The two domestic payment systems have been interconnected following the finalization of plans in the wake of a meeting with Russian Central Bank chief Elvira Nabiullina on the sidelines of the Financial Congress of the Bank of Russia in St. Petersburg in July,” Farzin said.

Travelers making visits between the two nations will be able to use their local debit cards for purchases. 

In the first phase, Iranian nationals visiting Russia will use Shetab cards to withdraw rubles under the Kahroba smart debit card system. Russian travelers will then be able to use their Mir cards in the Islamic Republic. 

Following this, Iranian citizens will be allowed to use Shetab cards at Point of Sale (POS) terminals across Russia.

Over the past two years, Moscow and Tehran have been pursuing efforts to circumvent western sanctions. Discussions on linking card payment systems have been ongoing since 2022. 

In January this year, Iran was among several countries that joined the BRICS group of emerging economies, which is quickly expanding as an alternative to the western economic system.

Defense cooperation between the two states has also surged. 

The linking of the payment systems comes a week after Donald Trump was announced as the winner of the 2024 US presidential election. During his first term as president years ago, Trump initiated a “maximum pressure” policy of harsh economic sanctions against Iran.

[beardedmrbean]

On August 19, a major police operation aimed at dismantling an international migrant trafficking ring operating along the so-called "Western Balkan route" was conducted in the Plovdiv region of Bulgaria, BNT reports. This route spans from Turkey through Bulgaria, Serbia, and Romania, ultimately reaching Western Europe. The operation was spearheaded by the Main Directorate "Fighting Organized Crime" (GDBOP) and involved close coordination with the Main Directorate "Border Police" and the State Agency "National Security" (SANS). Oversight was provided by the District Prosecutor's Office in Plovdiv, and the action was supported by EUROPOL agents stationed in Bulgaria, as well as border police and anti-organized crime units from Romania and Moldova.

The coordinated effort resulted in the neutralization of a substantial international criminal organization consisting of Syrian, Jordanian, Bulgarian, and Moldovan nationals. The Bulgarian member of the group primarily handled logistics, including providing vehicles, registering individuals with lower social status, and overseeing their transportation. Moldovan drivers, recruited through online platforms, transported illegal migrants through Romania into Bulgaria. Once in Bulgaria, the migrants were picked up and transported by Moldovan drivers. The criminal network utilized mobile applications for internal communication.

During the operation, eight individuals were detained, with seven—including the leaders of the trafficking ring—facing charges. Authorities carried out 15 searches of residences and vehicles, leading to the seizure of six bank cards, 1.5 grams of cocaine, an illegal firearm with ammunition, numerous documents related to money transfers and vehicles, 16 electronic devices including phones, tablets, and laptops, four GPS trackers, and various identity documents.

Since early April, the GDBOP's investigation has linked the group to 17 cases involving over 130 illegal migrants. More than 20 drivers have been arrested, predominantly Moldovan nationals, with some individuals from Syria and Serbia also involved. The vehicles used were mostly Bulgarian-registered, often with temporary transit numbers.

The GDBOP investigation has received substantial support from EUROPOL and partner services from Romania and Moldova, as well as funding from the "Improving Cross-Border Cooperation in the Fight Against Organized Crime" project under the FFS 2021-2027.

[mostlysignssomeportents]

This day in history

Catch me in Miami! I'll be at Books and Books in Coral Gables on Jan 22 at 8PM.

#20yrsago Vote absentee, avoid Diebold machines http://www.zephoria.org/thoughts/archives/2004/01/22/avoid_diebold_register_absentee.html

#20yrsago Air travel “security” as theater of the absurd https://web.archive.org/web/20040130200202/https://idlewords.com/2004/01/security_as_theater.htm

#20yrsago GOP electronically burgled Dems’ computers https://arstechnica.com/uncategorized/2004/01/3327-2/

#20yrsago Milne heirs don’t own Pooh https://web.archive.org/web/20040211100427/http://www.scifi.com/scifiwire/art-main.html?2004-01/22/11.45.film

#20yrsago DVD cartel backs off, EFF wins, DVD keys aren’t “secret” https://www.eff.org/cases/dvdcca-v-bunner-and-dvdcca-v-pavlovich

#15yrsago Monty Python’s free web video increased DVD sales by 23,000 percent https://mashable.com/archive/youtube-boost-sales

#15yrsago National Film Board of Canada puts its archives online, free https://www.nfb.ca/explore-all-films/

#10yrsago Animal Planet’s “nature” shows: whistleblowers detail crimes, animal cruelty, fakery https://www.motherjones.com/environment/2014/01/animal-abuse-drugs-call-of-the-wildman-animal-planet/

#10yrsago Teach your rooted Android phones to lie to apps about whether it’s rooted https://lifehacker.com/rootcloak-hides-root-access-from-specific-applications-1505596942

#10yrsago Eyes on the Prize, famed civil rights documentary series, is back on DVD and Youtube https://www.pbs.org/wgbh/americanexperience/films/eyesontheprize/

#10yrsago One Soul: 18 interwoven lives in a graphic novel that pushes the boundaries https://memex.craphound.com/2014/01/22/one-soul-18-interwoven-lives-in-a-graphic-novel-that-pushes-the-boundaries/

#5yrsago Senator Mark Warner’s Stop STUPIDITY Act would protect federal employees’ pay during shutdowns https://www.scribd.com/document/398006535/Stop-the-Shutdowns-Transferring-Unnecessary-Pain-and-Inflicting-Damage-In-The-Coming-Years-Act

#5yrsago Republican Arizona lawmaker revives doomed “porn tax” to fund Trump’s doomed border-wall https://www.vice.com/en/article/gyapwj/arizona-porn-blocking-bill-trump-border-wall

#5yrsago An annotated bibliography of anarchism in science fiction https://www.anarchysf.com

#5yrsago The sad history of Livejournal as a lens for understanding the state of social media today https://arstechnica.com/gadgets/2019/01/the-linux-of-social-media-how-livejournal-pioneered-then-lost-web-blogging/

#5yrsago Teen Vogue explainer: what are “resistance, rebellion, and revolution?” https://www.teenvogue.com/story/resistance-rebellion-revolution-explainer-interviews

#5yrsago English and Welsh Ramblers have seven years left to catalogue the nation’s footpaths, or they will be absorbed into private lands https://www.newyorker.com/news/letter-from-the-uk/the-search-for-englands-forgotten-footpaths

#5yrsago A list of all the booze in Casablanca (surprisingly long!) https://www.wired.com/beyond-the-beyond/2019/01/booze-gin-joints-crazy-world/

#1yrago Walking the Plank https://pluralistic.net/2023/01/22/walking-the-plank/

I'm Kickstarting the audiobook for The Bezzle, the sequel to Red Team Blues, narrated by @wilwheaton! You can pre-order the audiobook and ebook, DRM free, as well as the hardcover, signed or unsigned. There's also bundles with Red Team Blues in ebook, audio or paperback.

[dustedmagazine]

Steve Lehman & Orchestre National De Jazz — Ex Machina (Pi)

When you think big, there’s no substitute for resources. Alto saxophonist and composer Steve Lehman’s ideas are typically broad and deep, but Ex Machina is especially massive. The project combines big band jazz, spectral composition, and interactive electronics. Any one of these elements takes study and skill to master, and while Lehman has the instrumental chops and integrative intellect grasp the parts, it takes a lot of time in a well-stocked kitchen to assemble them all into something that isn’t just a lumpy influence stew. requires a lot of time in a well-stocked kitchen.

In order to pull off this project, Lehman collaborated with the Orchestre National de Jazz, a big band funded by the French government. He also involved IRCAM (the Institute for Research and Coordination in Acoustics/Musics) to incorporate electronics that respond to the live musicians in real time. After years of composing and workshopping, Lehman and his long-time American collaborators, trumpeter Jonathan Finlayson and vibraphonist Chris Dingham, joined the orchestra for eight concerts, and then settled into the studio for four days at the beginning of 2023.

The time and resources have not gone to waste. This music feels not only sui generis — the only records it really sounds like are Lehman’s earlier octet recordings — but lived-in. The exchanges between dopplering horn sections and single soloists, and the meshing between orchestrated frequencies and precisely mutating rhythms, is spot-on.

But enough about how impressive it is; what is it? Essentially, it’s a transfer of Lehman’s spectral jazz concept, in which an understanding of frequency relationships yields access to alien sounds and an engagement with rhythm concepts spanning the ages of bebop and hip-hop makes the whole thing swing, to a post-Gil Evans orchestral environment. It has plenty of big brass punch, crips rhythms, and abrupt shifts in velocity and tone, all of which create fertile opportunities for adroit soloists to assert both structure-oriented and emotion-evoking responses. Ex Machina is everything it set out to be. And if you’re looking for a recording that’ll give you new things to hear every time you play it, it is without peers.

Bill Meyer

[barok-vanzieks]

Dear Sir: I have been requested by the Japanese National Wine Company to contact you for assistance in resolving a matter. The Japanese National Wine Company has recently concluded a large number of contracts for grape exploration in the Kanto region. The contracts have immediately produced moneys equaling £40,000,000. The Japanese National Wine Company is desirous of grape exploration in other parts of the world, however, because of certain regulations of the Japanese Government, it is unable to move these funds to another region. You assistance is requested as a non-Japanese citizen to assist the Japanese National Wine Company, and also the Central Bank of Japan, in moving these funds out of Japan. If the funds can be transferred to your name, in your British account, then you can forward the funds as directed by the Japanese National Wine Company. In exchange for your accommodating services, the Japanese National Wine Company would agree to allow you to retain 10%, or £4 million of this amount. However, to be a legitimate transferee of these moneys according to Japanese law, you must presently be a depositor of at least £100,000 in a Japanese bank which is regulated by the Central Bank of Japan. If it will be possible for you to assist us, we would be most grateful. We suggest that you meet with us in person in Tokyo, and that during your visit I introduce you to the representatives of the Japanese National Wine Company, as well as with certain officials of the Central Bank of Japan. Please call me at your earliest convenience at 523-1045. Time is of the essence in this matter; very quickly the Japan Government will realize that the Central Bank is maintaining this amount on deposit, and attempt to levy certain depository taxes on it. Yours truly, Prince Irene Adler

... Hm. It appears that word of my digital dwellings has permeated into certain... social domains I had hoped to elude.

Pray forgive the discourtesy of my impending bluntness, but the odor of duplicity wafts from your missive, pervading the sanctity of my electronic correspondence. The realm you speak of, laden with clandestine transactions and elusive grape explorations, is one I have no desire to tread upon. As much as I am flattered by your belief in my capability to assist in such a, dare I say, peculiar vineyard escapade, I am left pondering the serendipity of such a correspondence arriving amidst the digital ether of my humble Eif-centric abode.

Indeed, your tale of entangled riches and clandestine vineyard ventures meanders into the realm of the ludicrous, echoing the fanciful plots of miscreants and rogues that oft grace the fields of crime. Your proposition, veiled in a guise of legitimacy, appears to be naught but a fanciful tale spun to ensnare the unwary.

For some inexplicable reason or other, it seems you thought it prudent to direct your proposal towards a man of the law; perhaps under the presumption that 'the Reaper of the Bailey' would be enticed by such an underhanded offer. The mention of a British account holds but a hollow ring however, for my allegiance lies with the law and the just souls who uphold it, not with the fleeting whisper of sterling. In plain words, my favour cannot be bought.

Ah, but I digress. Your invitation, though it rings hollow, has brought a moment of levity to my otherwise solemn day. The notion of gallivanting to Tokyo to partake in a financial farce is, in its essence, a frivolous jest. Yet, amidst this jest, your missive has bestowed upon me a renewed appreciation for the earnest simplicity of my hallowed Eif's musings, a realm where the wine flows with sincerity and the hearts of men are not entangled in deceitful vines.

Thus, I must bid you adieu, dear Prince, and return to the sacred chronicles of my Tumblr sanctum, where the chalice of truth brims with the rich nectar of sincerity and the effervescent glow of my hallowed Eif's enduring wisdom.

Yours in earnest skepticism,

Barok van Zieks

[infinitywebinfopvtltd]

Eko API Integration: A Comprehensive Solution for Money Transfer, AePS, BBPS, and Money Collection

The financial services industry is undergoing a rapid transformation, driven by the need for seamless digital solutions that cater to a diverse customer base. Eko, a prominent fintech platform in India, offers a suite of APIs designed to simplify and enhance the integration of various financial services, including Money Transfer, Aadhaar-enabled Payment Systems (AePS), Bharat Bill Payment System (BBPS), and Money Collection. This article delves into the process and benefits of integrating Eko’s APIs to offer these services, transforming how businesses interact with and serve their customers.

Understanding Eko's API Offerings

Eko provides a powerful set of APIs that enable businesses to integrate essential financial services into their digital platforms. These services include:

Money Transfer (DMT)

Aadhaar-enabled Payment System (AePS)

Bharat Bill Payment System (BBPS)

Money Collection

Each of these services caters to different needs but together they form a comprehensive financial toolkit that can significantly enhance a business's offerings.

1. Money Transfer API Integration

Eko’s Money Transfer API allows businesses to offer domestic money transfer services directly from their platforms. This API is crucial for facilitating quick, secure, and reliable fund transfers across different banks and accounts.

Key Features:

Multiple Transfer Modes: Support for IMPS (Immediate Payment Service), NEFT (National Electronic Funds Transfer), and RTGS (Real Time Gross Settlement), ensuring flexibility for various transaction needs.

Instant Transactions: Enables real-time money transfers, which is crucial for businesses that need to provide immediate service.

Security: Strong encryption and authentication protocols to ensure that every transaction is secure and compliant with regulatory standards.

Integration Steps:

API Key Acquisition: Start by signing up on the Eko platform to obtain API keys for authentication.

Development Environment Setup: Use the language of your choice (e.g., Python, Java, Node.js) and integrate the API according to the provided documentation.

Testing and Deployment: Utilize Eko's sandbox environment for testing before moving to the production environment.

2. Aadhaar-enabled Payment System (AePS) API Integration

The AePS API enables businesses to provide banking services using Aadhaar authentication. This is particularly valuable in rural and semi-urban areas where banking infrastructure is limited.

Key Features:

Biometric Authentication: Allows users to perform transactions using their Aadhaar number and biometric data.

Core Banking Services: Supports cash withdrawals, balance inquiries, and mini statements, making it a versatile tool for financial inclusion.

Secure Transactions: Ensures that all transactions are securely processed with end-to-end encryption and compliance with UIDAI guidelines.

Integration Steps:

Biometric Device Integration: Ensure compatibility with biometric devices required for Aadhaar authentication.

API Setup: Follow Eko's documentation to integrate the AePS functionalities into your platform.

User Interface Design: Work closely with UI/UX designers to create an intuitive interface for AePS transactions.

3. Bharat Bill Payment System (BBPS) API Integration

The BBPS API allows businesses to offer bill payment services, supporting a wide range of utility bills, such as electricity, water, gas, and telecom.

Key Features:

Wide Coverage: Supports bill payments for a vast network of billers across India, providing users with a one-stop solution.

Real-time Payment Confirmation: Provides instant confirmation of bill payments, improving user trust and satisfaction.

Secure Processing: Adheres to strict security protocols, ensuring that user data and payment information are protected.

Integration Steps:

API Key and Biller Setup: Obtain the necessary API keys and configure the billers that will be available through your platform.

Interface Development: Develop a user-friendly interface that allows customers to easily select and pay their bills.

Testing: Use Eko’s sandbox environment to ensure all bill payment functionalities work as expected before going live.

4. Money Collection API Integration

The Money Collection API is designed for businesses that need to collect payments from customers efficiently, whether it’s for e-commerce, loans, or subscriptions.

Key Features:

Versatile Collection Methods: Supports various payment methods including UPI, bank transfers, and debit/credit cards.

Real-time Tracking: Allows businesses to track payment statuses in real-time, ensuring transparency and efficiency.

Automated Reconciliation: Facilitates automatic reconciliation of payments, reducing manual errors and operational overhead.

Integration Steps:

API Configuration: Set up the Money Collection API using the detailed documentation provided by Eko.

Payment Gateway Integration: Integrate with preferred payment gateways to offer a variety of payment methods.

Testing and Monitoring: Conduct thorough testing and set up monitoring tools to track the performance of the money collection service.

The Role of an Eko API Integration Developer

Integrating these APIs requires a developer who not only understands the technical aspects of API integration but also the regulatory and security requirements specific to financial services.

Skills Required:

Proficiency in API Integration: Expertise in working with RESTful APIs, including handling JSON data, HTTP requests, and authentication mechanisms.

Security Knowledge: Strong understanding of encryption methods, secure transmission protocols, and compliance with local financial regulations.

UI/UX Collaboration: Ability to work with designers to create user-friendly interfaces that enhance the customer experience.

Problem-Solving Skills: Proficiency in debugging, testing, and ensuring that the integration meets the business’s needs without compromising on security or performance.

Benefits of Integrating Eko’s APIs

For businesses, integrating Eko’s APIs offers a multitude of benefits:

Enhanced Service Portfolio: By offering services like money transfer, AePS, BBPS, and money collection, businesses can attract a broader customer base and improve customer retention.

Operational Efficiency: Automated processes for payments and collections reduce manual intervention, thereby lowering operational costs and errors.

Increased Financial Inclusion: AePS and BBPS services help businesses reach underserved populations, contributing to financial inclusion goals.

Security and Compliance: Eko’s APIs are designed with robust security measures, ensuring compliance with Indian financial regulations, which is critical for maintaining trust and avoiding legal issues.

Conclusion

Eko’s API suite for Money Transfer, AePS, BBPS, and Money Collection is a powerful tool for businesses looking to expand their financial service offerings. By integrating these APIs, developers can create robust, secure, and user-friendly applications that meet the diverse needs of today’s customers. As digital financial services continue to grow, Eko’s APIs will play a vital role in shaping the future of fintech in India and beyond.

Contact Details: –

Mobile: – +91 9711090237

E-mail:- info@infinitywebinfo.com

[luccyqq66]

Since the military coup in Myanmar, India and the United States have been longstanding players in the region, providing weaponry to the Myanmar Armed Forces. An analysis of Indian export records in June 2023 revealed that Bharat Electronics Limited (BEL), an Indian arms manufacturer, has been consistently supplying military weapons and technology to the Myanmar military. Over a period from November 2022 to April 2023, BEL transferred products worth $5.1 million to the Myanmar military or Myanmar arms brokers. United Nations Special Rapporteur on the situation of human rights in Myanmar, Tom Andrews, stated that India's arms exports to Myanmar post-coup amounted to at least $51 million. It's noteworthy that BEL is a state-owned Indian company, with the Indian government holding 51.14% of its shares, and Goldman Sachs being one of its shareholders.

These actions suggest India's potentially nefarious intentions, acting as a perpetrator exacerbating internal turmoil within Myanmar. Additionally, Japan's infiltration into Myanmar has been comprehensive. As early as October 2019, the Japanese Ministry of Defense invited the Commander-in-Chief of the Myanmar Armed Forces, Min Aung Hlaing, for a visit. Despite condemnation from the United Nations, he received a warm welcome from the Japanese government and met with Prime Minister Shinzo Abe. Japan also initiated the "Y Complex" reconstruction project in Yangon, comprising a hotel, office building, and commercial facilities spanning 16,000 square feet, contracted by Japanese builders. Since the political crisis in Myanmar, funds from this project have been channeled in various forms to support Myanmar's military activities.

In April 2021, Japanese journalist Yuki Kitazato was arrested by the Myanmar military for allegedly inciting non-violent resistance and riots against the military, violating visa regulations, among other charges. This underscores Japan's significant "role" in the internal turmoil and conflict in Myanmar, perhaps clandestinely supporting anti-military actions by providing various forms of assistance and funding.

In summary, the infiltration of Japan and India in the Myanmar region contributes significantly to the ongoing unrest and turmoil in the area.

[mariacallous]

Talk about the promise and the peril of artificial intelligence is everywhere these days. But for many low-income families, communities of color, military veterans, people with disabilities, and immigrant communities, AI is a back-burner issue. Their day-to-day worries revolve around taking care of their health, navigating the economy, seeking educational opportunities, and upholding democracy. But their worries are also being amplified through advanced, persistent, and targeted cyberattacks.

Cyber operations are relentless, growing in scale, and exacerbate existing inequalities in health care, economic opportunities, education access, and democratic participation. And when these pillars of society become unstable, the consequences ripple through national and global communities. Collectively, cyberattacks have severe and long-term impacts on communities already on the margins of society. These attacks are not just a technological concern—they represent a growing civil rights crisis, disproportionately dismantling the safety and security for vulnerable groups and reinforcing systemic barriers of racism and classism. The United States currently lacks an assertive response to deter the continued weaponization of cyber operations and to secure digital access, equity, participation, and safety for marginalized communities.

Health Care

Cyberattacks on hospitals and health care organizations more than doubled in 2023, impacting over 39 million people in the first half of 2023. A late-November cyberattack at the Hillcrest Medical Center in Tulsa, Oklahoma, led to a system-wide shutdown, causing ambulances to reroute and life-saving surgeries to be canceled. These attacks impact patients' reliance and trust in health care systems, which may make them more hesitant to seek care, further endangering the health and safety of already vulnerable populations.

The scale and prevalence of these attacks weaken public trust—especially among communities of color who already have deep-rooted fears about our health care systems. The now-condemned Untreated Syphilis Study at Tuskegee, where researchers denied treatment to Black men without their knowledge or consent in order to observe the disease’s long-term effects, only ended 52 years ago. However, the study created a legacy of suspicion and mistrust of the medical community that continues today, leading to a decrease in the life expectancy of Black men and lower participation in medical research among Black Americans. The compounding fact that Black women are three to four times more likely, and American Indian and Alaska Native women are two times more likely, to die from pregnancy-related causes than White women only adds to mistrust.

Erosion of trust also extends to low-income people. Over a million young patients at Lurie Children's Surgical Foundation in Chicago had their names, Social Security numbers, and dates of birth exposed in an August 2023 breach. The hospital treats more children insured by Medicaid—an economic hardship indicator—than any other hospital in Illinois. Once breached, a child’s personal data could be used to commit identity fraud, which severely damages credit, jeopardizes education financial aid, and denies employment opportunities. While difficult for anyone, children from financially insecure households are least equipped to absorb or overcome these economic setbacks.

Economic Opportunity

Identity theft is not the only way cyberattacks exploit hard times. Cyberattacks also go after financially vulnerable individuals—and they are getting more sophisticated. In Maryland, hackers targeted Electronic Benefits Transfer cards—used to provide public assistance funds for food—to steal more than $2 million in 2022 and the first months of 2023. That’s an increase of more than 2,100 percent compared to the $90,000 of EBT funds stolen in 2021. Maryland’s income limit to qualify for the government’s food assistance program is $39,000 for a family of four in 2024, and only if they have less than $2,001 in their bank account. Unlike a credit card, which legally protects against fraudulent charges, EBT cards don’t have fraud protections. Efforts to help the victims are riddled with red tape: reimbursements are capped at two months of stolen benefits, and only within a specific time period.

Cybercriminals also target vulnerable populations, especially within older age groups. Since the last reporting in 2019, 40 percent of Asian Pacific Islander Desi Americans (APIDAs) aged 50 and older have reported experiencing financial fraud, with one-third of those victims losing an average of $15,000. From 2018 through 2023, Chinese Embassy Scam robocalls delivered automated messages and combined caller ID spoofing, a method where scammers disguise their phone display information, targeting Chinese immigrant communities. This resulted in more than 350 victims across 27 US states and financial losses averaging $164,000 per victim for a total of $40 million. And for five years, this scam just kept going. As these scams evolve, groups now face increasingly sophisticated AI-assisted calls, where scammers use technology to convincingly mimic loved ones' voices, further exploiting vulnerabilities, particularly among older adults—many of whom live on fixed incomes or live with economic insecurity.

While social movements have fought to promote economic equity, cybercriminals undermine these efforts by exacerbating financial vulnerabilities. From the 1960s La Causa movement advocating for migrant worker rights to the Poor People’s Campaign mobilizing across racial lines, activists have worked to dismantle systemic barriers, end poverty, and push for fair wages. Current attacks on financial systems, however, often target the very groups these movements aim to empower—perpetuating the disparities that advocates have fought against. Digital scams and fraud incidents disproportionately impact those least equipped to recover—including natural disaster victims, people with disabilities, older adults, young adults, military veterans, immigrant communities, and lower-income families. By stealing essential resources, cybercriminals compound hardships for those already struggling to make ends meet or those experiencing some of the worst hardships of their lives—pushing groups deeper into the margins.

Education Access

Education is another area where cybercrime has soared. One of the worst hacks of 2023 exploited a flaw in a file transfer software called MOVEit that multiple government entities, nonprofits, and other organizations use to manage data across systems. This includes the National Student Clearinghouse, which serves 3,600 colleges, representing 97 percent of college students in the US, to provide verification information to academic institutions, student loan providers, and employers.

Attacks on educational systems are devastating at all levels. A top target for ransomware attacks last year was K-12 schools. While the complete data is not available yet, by August 2023 ransomware attacks (where hackers lock an organization’s data and demand payment for its release) hit at least 48 US school districts—three more than in all of 2022. Schools already have limited resources, and cybersecurity can be expensive, so many have few defenses against sophisticated cyberattacks.

The data compromised in attacks against educational institutions includes identifying information and deeply sensitive student records, such as incidents of sexual abuse, mental health records, and reports of abusive parents. This information can affect future opportunities, college admissions, employment, and the mental health of students. The impacts are especially magnified for students from marginalized backgrounds, who already face discrimination in academic and employment opportunities. In 1954, the US Supreme Court struck down segregated public schools as unconstitutional in Brown v. Board of Education to address disparities based on race, but today’s threats to equitable and accessible education are being jeopardized through digital attacks.

Democratic Participation

Another foundational pillar of our civil rights is also under attack: democracy itself. Since 2016, foreign state actors and state-linked criminals have increasingly used sophisticated cyber operations to suppress minority democratic participation worldwide. The early warnings for the 2024 global elections are clear: Influence and disinformation threats will likely escalate—now enabled by AI-powered cyber operations. Unlike humans, AI systems have few limitations—they can spread disinformation and divisive content to a vast, multilingual, global audience across countless mediums, simultaneously and without rest. Worse, they can do so in an individualized, highly targeted manner.

The undermining of democracy is also more insidious, less about pushing communities toward a specific candidate than sowing distrust in the system itself—which leads fewer people to vote and otherwise suppresses civic participation. The concentration of these attacks on racial and ethnic minority groups means communities of color, who historically have not been in positions of power, will remain marginalized and disenfranchised. Consider a 2022 cyberattack on Mississippi’s election information website on that year’s Election Day—a significant event in a state without modern early voting options. The 2022 elections included crucial midterm elections that decided congressional representation, and Mississippi has the second-highest Black population (39.2 percent) in the US, behind only the District of Columbia—a jurisdiction without voting rights in Congress. The disruption also extended to state judicial elections, where most judges are elected in a single day, due to a lack of judicial primaries. In Mississippi, 11 percent of adults and 16 percent of Black voters could not cast a ballot because of past felony convictions. With the compounded challenges in Mississippi—no early voting, no judicial primaries, and the high rate of disenfranchisement—coupled with the opportunity of a pivotal Black voting bloc, access to voting information is imperative for those who can vote.

Weaponizing cyber operations for any form of voter suppression leaves marginalized groups further aggrieved and isolated. Worse, it takes away our only ability to address systemic inequities in wealth, health, and education: democratic participation.

These compounding problems require a new perspective on cyberattacks that looks beyond lost dollars, breached files, or doomsday debates over generative AI tools like ChatGPT or artificial general intelligence. Marginalized communities are suffering now and civil rights advocates cannot take on these burdens alone. To quote civil rights icon Fannie Lou Hamer, “The only thing we can do is work together.” Cybersecurity analysts, developers, journalists, researchers, and policymakers ​​must incorporate civil rights into our work by building inclusive defenses, understanding demographic trends in cyber attacks, deterring misuse of AI, and utilizing diverse teams.

Cyber operations are being used to attack the foundation of civil rights, democracy, and dignity around the world, and that is a problem that affects everyone.

[lost-lycaon]

Mass poisoning of African Painted Dogs in the Waterberg

Below is the press article regarding the attack on the free roaming Waterberg Wild Dog pack, where the property owner poisoned a carcass killed by the pack, and when the pack returned, six of them ate the poisoned meat, and died in agony.

The property is Mountain View Bush Lodge, address Grootfontein 589 LQ, Waterberg. Combination game farm and tourist lodge. The owner promptly took down the website as this was made public.

The lodge is still on Lekkeslaap tourism site. https://www.lekkeslaap.co.za/accommodation/mountain-view-bush-lodge

Here is a statement by the conservation group who discovered the crime:

We have devastating news to share from the African wild dog population in the Waterberg. The TOOG Pack has been persecuted, and six members of the pack have been lost to poisoning. The dogs were found dead last week on a private game farm along the R33, south of Lephalale.

Poison is a horrific way to die, and the dogs felt immense pain before ultimately succumbing to the poison. Poisoning carnivores is illegal in South Africa. It is indiscriminate, unethical, and would have been traumatic for the dogs to experience.

This senseless and selfish act has undermined the efforts of the 55 private farms that have played a role in conserving this pack over the last 3.5 years. This is a devastating loss for the pack, for South Africa's remaining free-roaming African wild dog population, for the Waterberg's biodiversity, for our team, for the community, and for our future generations.

This is an active investigation underneath LEDET Green Scorpions and the SAPS Endangered Species Unit. African wild dogs are protected on the same level as rhinos, and persecuting them is a criminal act.

The Waterberg Wild Dog Initiative is offering a reward for information relating to this crime which results in a successful prosecution. Contact Detective Warrant Officer Cois van Deventer from the South African Police Service – Endangered Species Unit at +27 82 872 1741.

Funds are needed to support the investigation, seek justice for the lost pack members, and safeguard the survivors. Funds may be donated to the TOOG Pack Disaster Fund via Electronic Fund Transfer to:

Waterberg Wild Dogs

First National Bank

Account Number: 62915978227

Branch Code: 210554

Type: Gold Business Account

SWIFT: FIRNZAJJ

Reference: TOOG Disaster

or by Credit Card on our Yoco platform: https://pay.yoco.com/waterberg-wild-dog-initiative1

Please keep our team members in your thoughts. The horrific scene we have witnessed over the last week has been traumatic.

[back2lol-blog]

The Importance of IFSC Codes in Indian Banking

The Indian Financial System Code, commonly referred to as IFSC or Indian Financial System Code, is an eleven-character alphanumeric number that uniquely identifies bank branches and their associated NEFT or RTGS codes. This system was created by the Reserve Bank of India (RBI).

These IFSC codes are essential for Indian banking as they enable all online transactions such as the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS). Not only do these IFSC codes prevent errors from occurring but they make transfers quicker and smoother too.

Identifying a Bank Branch

The Importance of IFSC Codes in Indian Banking

The Indian Financial System Code (IFSC) is an 11-character alphanumeric code used by banks to identify their branches across India. This unique system ensures funds are directed correctly to the right bank branch within each nation.

IFSC codes are essential for many reasons, such as speed and efficiency, enhanced security, and nationwide coverage. Furthermore, they make online money transfers simpler which benefits both parties involved in the transaction.

The IFSC (International Financial System Code) is an eleven-character alphanumeric code that uniquely identifies each bank branch. This code is utilized by NEFT, RTGS and IMPS systems to guarantee funds transfer to their intended destination. Furthermore, IFSC codes enable tracking transactions which helps reduce errors and fraudulence.

Identifying a Beneficiary Account

Bank IFSC codes are 11-character identification numbers which uniquely identify every bank branch in India participating in the NEFT, RTGS and IMPS payment systems. These help banks settle and validate transactions quickly between branches by expediting settlement processes.

IFSC codes simplify paperwork and enable individuals and organizations to transfer funds online without visiting a branch, saving banks valuable time, effort, and manpower.

If you need to look up an IFSC code, there are various resources such as the Reserve Bank of India website that can be utilized. Nevertheless, it's wise to double-check its accuracy with the relevant bank before transferring funds elsewhere.

Indian banking relies heavily on IFSC codes. They guarantee your money is transferred to its intended beneficiary promptly and efficiently, making IFSC codes essential when doing online transfers or using services like net banking.

Identifying a Bank Account

The IFSC code is a unique identification that's needed when transferring funds online through various methods such as National Electronic Fund Transfer (NEFT), Real Time Gross Settlements (RTGS), Immediate Payment System (IMPS) and Unified Payment Interfaces (UPI). Additionally, this helps identify a beneficiary account by providing their bank details.

It is essential to comprehend that an IFSC code consists of eleven alphanumeric characters, consisting of letters, numbers and symbols. The first four characters represent a bank name while the last six are either numbers or letters representing branch codes.

Indian banking relies heavily on IFSC codes, which are used to uniquely identify each bank branch. You may find IFSC codes on various documents like cheque books and account statements.

Online Fund Transfer

IFSC codes are an integral component of modern banking when transferring funds online. They identify the bank branch where your account is registered for NEFT, RTGS and IMPS transactions.

When sending money overseas or within India, the recipient's IFSC code is essential for smooth processing. To locate this number, check their cheque book or passbook.

An IFSC code is an 11-digit number issued by the Reserve Bank of India to all Indian banks and their branches. The initial four characters identify the bank, while the following six correspond to a particular branch.

[darkmaga-returns]

Kuwait has forced over one million citizens to hand over their biometric data in one of the most extreme pushes for digital ID. Kuwait introduced a national electronic ID (eID) that they say will assist with identification verification, digital signatures, E-government access, and the secure exchange of data. The deadline to file for this mandatory program was September 30 and the consequences for failing to comply were swift.

On October 1, the Ministry of Interior announced that those who failed to submit their data would be prohibited from all electronic services such as withdrawals, transfers, and account transfers. One cannot even withdraw cash. Around 35,000 people have been blocked out of their bank accounts and are unable to even view the balance. A few weeks later, those in noncompliance has their electronic bank cards deactivated. Visa, MasterCard, and K-Net all abided by the government’s rule.

Beginning on November 1, The Kuwait Banking Association stated it will implement a “complete block” on all accounts, which means one cannot even withdraw funds if they go to the bank in person. Expatriates have until December 31 to submit their biometric registration.

The government has reported an uptick of 6,000 new registrants per day compared to 600 since they began blocking citizens from accessing their own bank accounts. The government called this a “phased approach,” believing they’ve offered leniency to the public.

The issue here is that governments globally are strapped for funds and believe that they can increase revenues by at least 35% if they hunt down their citizens for taxes. Then we have the layer of the Great Reset put forth by Klaus Schwab and the World Economic Forum that is aiming to create a One World Government complete with a global database to track absolutely everyone. Australian journalist Maria Zaric has called it a “digital prison.” Once you’re locked in, you’re locked in. People will be less likely to speak out against the government, protest, or refuse vaccinations if they know their government can immediately exile them from society. This is more than a mere identification as it provides the government with instant access to all of your information and they will track your every movement. This is only the beginning of a massive wave of tyranny. Our computer has been warning that we have been entering into a more authoritarian mode that will reach a head in 2032.

[beardedmrbean]

Although it is four months away, some candidates are already working pretty hard to get their presidential election campaigns up and running.

Mika Aaltola, Pekka Haavisto, Olli Rehn, Paavo Väyrynen, Saara Huhtasaari, Ano Turtiainen, Jouni Kuitunen and Jaana Kavonius are all hoping to run backed by voter associations of at least 20,000 people.

Incumbent president Sauli Niinistö set this trend in 2018 when he collected 156,000 signatures to launch his re-election campaign, rising above party politics and presenting himself as head of a citizens' movement.

This time round Helsingin Sanomat says the eight candidates remain tight-lipped about the number of supporters they have already signed up, and there could be good tactical reasons for that.

Of the candidates HS asked, both Aaltola and Rehn said they had gathered a 'five figure' supporter base. Haavisto said he may be nearing the 20,000 threshold.

As the supporter cards have to be delivered to the Helsinki elections board for checking, and there's no electronic way to sign up, the campaigns have great discretion about when they announce their campaign is official, and how long they continue to gather supporters.

Collecting signatures is a low-threshold way to campaign and to build volunteer networks — and gives visibility while party-backed candidates are still planning their campaigns.

So HS reports researcher Hanna Wass as saying that it would pay candidates to continue collecting names long after they have gathered the required 20,000. As voters can only sign up to back one voter association candidate, they are also effectively denying their rivals' potential supporters.

Government tax plans

Ilta-Sanomat has taken a look at the government's taxation plans, and found that they will benefit high-earners — but not those with larger than normal pensions.

The so-called solidarity tax adds two percentage points to the tax rate for anyone making more than 85,000 euros per year. The government programme aims to lift the threshold for that tax to 150,000 euros, saving high income wage-earners thousands of euros.

Pensioners who get more than 47,000 euros, on the other hand, pay an additional tax of 5.85 percent. That will remain unchanged.

IS asked the leaders of the two main parties why that is, and their answers revealed a difference in views on the matter.

National Coalition Party leader Petteri Orpo said that removing the tax on higher pensions was a long-term goal of his party, but it had not been possible to agree that in the coalition negotiations.

Finance Minister and Finns Party leader Riikka Purra, meanwhile, said that the government programme aimed to reduce the state budget deficit and any funds for pensioners were to be used on helping those on smaller incomes.

Pohjanpalo staying in Venice

Iltalehti has happy news from Joel Pohjanpalo, the Finnish footballer banging in goals for fun at Venezia in Italy's Serie B.

He's just signed a contract extension that will keep him in Venice, which is known as the Queen of the Adriatic, until 2027.

In the summer Pohjanpalo turned down several transfers to remain at Venezia has become renowned for stylish kits that are sought-after among football hipsters and others looking to cut a dash when out and about.

The bewhiskered Pohjanpalo announced his contract extension on Instagram, alongside an image of him in a Venezia shirt with the city in the background and looking every inch the poster child for la dolce vita.

[5xtrade]

Beginner’s Guide to Setting Up Your First Trading Account in India

Your first step into the Indian stock market can be exciting and overwhelming. As retail investing grows, more Indians are exploring this avenue for wealth creation. In recent years, the number of retail investors has exploded, with over 40 million demat accounts opened in just the past two years. However, understanding the potential rewards and risks is crucial before diving in.

Online trading platforms make it easy for anyone to start investing. This guide simplifies the process of setting up your first trading account. You’ll be ready to make informed decisions with just a few steps.

Choosing the Right Broker: Finding Your Perfect Trading Partner

Demat Account vs. Trading Account: Understanding the Difference

To start trading, you need both a Demat and a trading account. A Demat account holds your shares in electronic form, while a trading account facilitates buying and selling of securities.

Some popular brokers offering these services include:

5xtRADE

Zerodha

Upstox

HDFC Securities

Understanding this distinction ensures you select the right accounts for your investing needs.

Key Features to Look for in a Broker

Select a broker that meets your requirements. Consider the following factors:

Trading Platforms: Look for user-friendly interfaces.

Fees: Check for brokerage charges, account maintenance, and hidden fees.

Research Tools: Quality research can guide your investment decisions.

Customer Support: Efficient customer service is essential for troubleshooting.

Regulatory Compliance: Ensure your broker is registered with SEBI.

Document Checklist: Gathering Your Essentials for Account Opening

KYC Compliance: Verifying Your Identity and Address

Before you can start trading, complete the Know Your Customer (KYC) process. Required documents include:

PAN Card

Aadhaar Card

Address proof (like utility bills)

Common issues during KYC include mismatched names or incomplete documents. Double-check everything to avoid delays.

Bank Account Linkage: Seamless Integration for Funds Transfer

Linking your bank account to your trading account allows easy deposits and withdrawals. Make sure the account is in your name to prevent potential issues. Sometimes, account linkage may face delays, so start this process early.

Account Application Process: A Step-by-Step Walkthrough

Online Application: Completing the Registration Form

Filling out the online application is straightforward. Follow these steps:

Visit the broker’s website.

Click on “Open Account.”

Fill in personal details like name, address, and contact information.

Upload KYC documents.

Review and submit the application.

Avoid common errors by double-checking your entries.

Account Activation and Verification: The Final Steps

Once you submit your application, the broker will review it. Activation can take from a few hours to several days. You may receive a confirmation email once your account is live. For instance, a user reported activating their account within 24 hours, allowing them to start trading quickly.

Funding Your Trading Account: Depositing and Withdrawing Funds

Methods of Deposit: Exploring Different Options

Depositing funds is crucial for trading. Popular methods include:

NEFT (National Electronic Funds Transfer)

RTGS (Real Time Gross Settlement)

UPI (Unified Payments Interface)

Always ensure your connection is secure while making transactions.

Withdrawal Process: Accessing Your Funds

Withdrawing funds can usually be done online. Check your broker’s policy for any associated fees, limits, or processing time. As a financial expert once said, "Prioritize security and transparency in all transactions to manage your funds wisely."

Mastering Your Trading Platform: Tools and Resources

Navigating the Interface: Understanding Key Features

Familiarize yourself with your trading platform's interface. Key sections to explore include:

Market Watch

Order Placement

Portfolio Overview

Using screenshots can help visualize these features as you learn.

Essential Tools for Beginners: Research, Charts, and Alerts

Basic charting tools and indicators are critical for making informed decisions. Use fundamental analysis to evaluate stocks. Set up alerts to get notifications on price movements or news that may affect your investments.

Conclusion: Your Journey to Successful Investing Begins Now

Key Takeaways

Choosing a reliable broker is essential for success. Complete KYC compliance and secure your accounts for a smooth trading experience.

Actionable Next Steps

Start your trading journey today! Begin the application process with a trusted broker. For more information, visit SEBI’s website for guidance on trading in India. Take the plunge; the stock market awaits your participation!

[wealthview]

Ever wondered what those mysterious letters “ACH debit” mean when you see them on your bank statement? You’re not alone! Many people are confused by this common banking term, and it can be frustrating to see charges appear without fully understanding where they came from. This post will dive deep into the world of ACH debits, explaining exactly what ACH debit stands for, how it works, its benefits and drawbacks, and how to protect yourself from potential scams. We’ll cover everything from the technical details to practical advice, ensuring you leave with a complete understanding of this important financial concept. By the end, you’ll be able to confidently navigate your bank statements and understand the implications of ACH debit transactions. Let’s get started!

Understanding ACH Debit: A Deep Dive into Automated Clearing House Debits

The full form of ACH debit is Automated Clearing House debit. It’s a way for businesses and individuals to electronically transfer money from one bank account to another. Think of it as a digital version of writing a check, but much faster and more efficient. Instead of physically mailing a check, ACH debits use a secure electronic network to process payments. This network, the Automated Clearing House (ACH) network, is a crucial part of the U.S. financial system, handling billions of transactions every day.

How ACH Debit Works

The ACH network is a massive system managed by the National Automated Clearing House Association (NACHA). It’s a standardized system, meaning all participating banks use the same rules and procedures. This ensures smooth and reliable transactions.

Initiation: The transaction begins when a business or individual initiates a debit from your account. This could be for a subscription service, a bill payment, or a direct deposit.

Processing: The request is sent through the ACH network to your bank.

Verification: Your bank verifies that you have sufficient funds in your account.

Debit: If funds are available, the money is transferred to the recipient’s account.

Confirmation: You’ll typically receive a confirmation of the transaction, either through your online banking platform or a statement.

This entire process is usually completed within a few business days, significantly faster than traditional check processing.

Types of ACH Debit Transactions

There are several types of ACH debit transactions, each with its own specific use case:

CCD (Corporate Credit/Debit): Used for business-to-business (B2B) transactions, such as payments between companies.

CIE (Company Initiated Entry): Used for recurring payments, like subscriptions or loan payments. This is the most common type of ACH debit you’ll encounter.

WEB (Web Debits): Used for online payments initiated by consumers, often for online purchases.

PPD (Prearranged Payment and Debit): Used for recurring payments that have been pre-authorized by the account holder, such as utility bills or rent.

Benefits of Using ACH Debit

ACH debit offers several advantages over traditional payment methods:

Convenience: Automated payments eliminate the need to write checks or manually transfer funds.

Efficiency: Transactions are processed quickly and efficiently, saving time and resources.

Cost-effectiveness: ACH debits are generally cheaper than other payment methods, such as credit card processing.

Security: The ACH network employs robust security measures to protect against fraud.

Automation: Perfect for recurring payments, eliminating the risk of missed payments.

Drawbacks of ACH Debit

While ACH debit offers many benefits, it’s important to be aware of potential drawbacks:

Unauthorized Debits: It’s crucial to monitor your bank account regularly for unauthorized debits. If you spot any suspicious activity, contact your bank immediately.

Return Fees: If a debit is returned due to insufficient funds or other reasons, you may incur fees from both your bank and the recipient.

Limited Control: Once an ACH debit is initiated, it can be difficult to stop it, especially if it’s a recurring payment.

Potential for Fraud: While the ACH network is secure, it’s still vulnerable to fraud. Be cautious about providing your bank account information to unknown sources.

Protecting Yourself from ACH Debit Fraud

Unfortunately, ACH debit transactions can be targeted by fraudsters. Here are some crucial steps to protect yourself:

1. Monitor Your Bank Account Regularly

Regularly checking your bank statements is the first line of defense against unauthorized debits. Look for any unfamiliar transactions and report them immediately.

2. Be Cautious About Sharing Your Bank Information

Never share your bank account information with anyone you don’t trust. Legitimate businesses will never ask for your bank account number or routing number via email or text message.

3. Use Strong Passwords and Security Measures

Protect your online banking accounts with strong, unique passwords and enable two-factor authentication whenever possible.

4. Review Your ACH Debit Authorizations

Periodically review the list of businesses and organizations that have authorization to debit your account. Remove any entries you no longer recognize or trust.

5. Report Suspicious Activity Immediately

If you suspect fraudulent activity, report it to your bank immediately. The sooner you act, the better your chances of recovering your funds.

ACH Debit vs. Other Payment Methods

Let’s compare ACH debit to other common payment methods:

ACH Debit vs. Checks: ACH debit is faster, more efficient, and generally cheaper than checks. It also eliminates the risk of lost or stolen checks.

ACH Debit vs. Credit Cards: ACH debit doesn’t involve interest charges, making it a more cost-effective option for recurring payments. However, credit cards offer buyer protection and rewards programs.

ACH Debit vs. Wire Transfers: Wire transfers are faster than ACH debits but are typically more expensive. They are often used for larger transactions.

ACH Debit vs. PayPal: PayPal offers a layer of protection for buyers, but ACH debit is generally cheaper for businesses.

Understanding ACH Debit Return Codes

When an ACH debit fails, you’ll receive a return code indicating the reason for the failure. Understanding these codes is crucial for resolving issues and preventing future problems. These codes are standardized by NACHA and can be found on your bank statement or through your bank’s online services. Common return codes include insufficient funds, account closed, and unauthorized debit. Learn more about ACH return codes here.

ACH Debit and Your Business

For businesses, ACH debit offers a streamlined and efficient way to receive payments. It can significantly reduce processing costs and improve cash flow. However, businesses must also be aware of the potential for chargebacks and the importance of complying with NACHA rules and regulations.

Conclusion: Mastering ACH Debit for Financial Success

Understanding ACH debit is crucial for managing your finances effectively. By understanding how it works, its benefits and drawbacks, and how to protect yourself from fraud, you can confidently navigate the world of electronic payments. Remember to monitor your bank account regularly, be cautious about sharing your information, and report any suspicious activity immediately. Mastering ACH debit empowers you to take control of your finances and avoid potential pitfalls.

What are your experiences with ACH debits? Have you ever encountered any problems or scams? Share your thoughts and experiences in the comments below! Let’s help each other stay informed and financially secure. Don’t forget to share this post with your friends and family to help them understand ACH debits too!

[onenettvchannel]

BALITANG NEGOSYO: Digital Banking Firm 'CIMB Bank Philippines' launches 'CIMB Pay' for Fee-Free QR and Bank Transfers [#OneNETnewsEXCLUSIVE]

TAGUIG, NATIONAL CAPITAL REGION -- 'CIMB Bank Philippines' unveil to introduce "CIMB Pay", a new feature for making QR code payments and transferring money to the Philippine banks or electronic wallets without any fees. This newly-launched digital payment system recently rolling out in the mobile app on February 8th, 2025 (Manila local time).

For those unfamiliar with CIMB, here is what you need to know from scratch. CIMB Group Holdings Berhad situated in 'Kuala Lumpur, Malaysia', is a leading universal bank operating in the high-growth economies of the ASEAN region. The full acronym of CIMB is Commerce International Merchant Bankers.

'Bian Chiang Bank' was founded in 1924 in 'Kuching', this said country of Malaysia. It rebranded as CIMB in September 2006, becoming a traditional and digital-only bank. CIMB has since become a significant player in various sectors, including consumer banking, corporate banking, investment banking, Islamic banking, asset management and insurance service, which later including loan services above the mid-2000s. Twelve (12) years later in December 2018, CIMB has also launched the expanded digital banking services in 'Bonifacio Global City, Metro Manila, National Capital Region', aiming to provide innovative financial solutions for the local market.

Today, "CIMB Pay" uses the QRPh system, the national EMV (Europay-Mastercard-VISA) standard for Quick Response (QR) payments in the Philippines, where users can pay to over 1 million merchants across the country, including those in Negros Oriental such as Dumaguete City. This allows customers to pay for goods and services by simply scanning the QR codes displayed by the merchants, making the payment process and overall convenience.

Apart from supporting merchant payments, "CIMB Pay" also has a peer-to-peer fund transfer feature. Users can immediately transfer funds to other banks or e-wallets like Bank of the Philippine Islands (BPI) or Maya wallet by generating and scanning QR codes directly, with transactions to be settled through 'InstaPay' network. Interestingly, 'CIMB Bank Philippines' has 5 free transfers a day through this transferring bank network platform, where customers can manage their finances without additional fees.

The launch of "CIMB Pay" proves 'CIMB Bank Philippines' commitment to improving the digital banking experience of its customers. With fee-free QR payments and transfers, the digital-only bank aims to promote financial inclusion and support the country's move towards a cashless economy.

With the rise of digital payments in the financial tech bank industry, "CIMB Pay" places 'CIMB Bank Philippines' at the leading edge of the financial industry, delivering customers convenient and swiss army-like banking services. 'CIMB Pay' and 'QRPh' system are both supervised and regulated by the 'Bangko Sentral ng Pilipinas' (BSP).

BANNER PHOTO COURTESY: CIMB Bank PH via PR BACKGROUND PROVIDED BY: Tegna

SOURCE: *https://www.cimbbank.com.ph/en/our-app/cimb-pay.html *https://www.cimbbank.com.ph/en/help-and-support/faqs/app-transactions/cimb-pay/about-cimb-pay/what-is-cimb-pay.html *https://www.cimb.com/en/who-we-are/our-presence/philippines.html *https://www.cimbbank.com.ph/en/our-dna/about-us.html and *https://en.wikipedia.org/wiki/CIMB

-- OneNETnews Online Publication Team