The US Federal Reserve has announced that its FedNow instant payment system is expected to launch in mid-2023

Leading remittance players once again saw slowing growth across their consumer money transfer revenues in Q2 2022.

European banking services provider Banking Circle has made interoperability a key focus, and this will only continue as it gears up to launch in the US.

Despite posting a net revenue increase of 37% YoY payments processor Adyen saw its share price fall by as much as 11% after releasing its H1 22 earnings.

Uruguayan payment processor dLocal is reaping the benefits of expansion, reporting revenue growth of 72%, to $101.2m, in Q2 22.

Paysafe felt the effects of European headwinds in Q2 22, with a 1% decline to $379m, as well as a 13% decrease in adjusted EBITDA.

Digital remittance major Remitly has announced that it is acquiring Rewire, an Israeli financial services provider for migrants.

Coinbase continues to feel the impact of the crypto slump, with a 61% YoY revenue decline to $803m and an adjusted EBITDA margin of -19% in Q2 2022.

Western Union has reported a 12% decline in revenues in Q2 22, driven by macroeconomic headwinds and slowing digital growth.