January 2025: Top five payments stories of the month
January has witnessed numerous significant developments in the payments sector, including a string of regulation changes, new licences, and partnerships.
Here, we run through five of the top payment stories from January, featuring PayMint, X, PagBrasil, the European Parliament and more.
EU PSPs brace for first Instant Payments Regulation implementation deadline

The first IPR implementation deadline arrived in January
The first Instant Payments Regulation (IPR) implementation deadline came into effect on 9 January, bringing new provisions for instant credit transfers.
Payment service providers (PSPs) offering credit transfers in euro area member states must now also be able to receive instant credit transfers in real-time, with requirements for funds to be credited to the payee’s account within 10 seconds.
According to the European Central Bank: “Any charges levied by a PSP for sending and receiving instant credit transfers shall not be higher than the charges levied by that PSP in respect of sending and receiving other credit transfers of corresponding type.”
UK’s FCA and PSR unveil plans for new “independent central operator” to spur growth of VRPs
The UK’s Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have laid out their plans for the future of open banking in the country, which includes setting up a new “independent central operator” to drive the growth of variable recurring payments (VRPs), the FCA says.
The operator will “coordinate how variable recurring payments are made”, the regulator says, with Open Banking Limited set to play “a key role” in its establishment.
The FCA is also “working with industry and trade associations to progress development of the commercial arrangements underpinning both variable recurring payments and use of open banking for e-commerce”.
The launch of new open banking services later this year is expected to provide both consumers and businesses with “more choice in how they make and receive payments safely, securely, and efficiently” the regulator adds.
Egyptian fintech PayMint launches Meeza prepaid card offering in partnership with ADIB-Egypt

PayMint partners ADIB-Egypt to launch new card offering
Egyptian fintech PayMint has received final approval from the Central Bank of Egypt to launch its Meeza prepaid card offering in collaboration with Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt).
The newly launched Meeza prepaid cards will enable users to carry out everyday transactions, including cash withdrawals, in-store purchases, and online shopping within Egypt.
Moreover, PayMint says cardholders will be able to “monitor their usage, check their available balance, and manage their cards” through its mobile app.
Mohamed Rabie, MD and founder of PayMint, adds that the new card offering is “targeted at individual customers, including permanent and temporary workers for companies, freelancers, and suppliers, enabling them to receive their financial dues and benefit from card services”.
Brazilian paytech PagBrasil lands Payment Institution licence
PagBrasil, a Brazilian paytech, has secured authorisation from the Central Bank of Brazil to “operate as a Payment Institution (PI) in the electronic money issuer category”, the firm has announced.
CEO Alex Hoffmann states the PI licence “opens important doors for product development”.
PagBrasil’s current suite includes Pix-related services, such as International Pix, which enables Brazilians to make Pix payments overseas, and Pix Roaming, which allows foreign visitors to use the Brazilian payment system while in the country.
With the new licence, these offerings will be able to support transactions over $10,000 and offer cash withdrawal abroad.
Social media platform X selects Visa to power payments for X Money

X selects Visa Direct to power payments for new offering
Visa has joined X, the San Francisco-headquartered social media platform, formerly known as Twitter prior to its October 2022 acquisition by Elon Musk, as the first partner of its impending wallet service X Money.
Announcing the partnership via a post on the platform, X CEO Linda Yaccarino shared that the company had opted for the Visa Direct solution.
The real-time payments platform will be used to power instant fund transfer and peer-to-peer (P2P) payment capabilities for US-based users of the X Money Account.
Corroborating the CEO’s statement in a separate post, Visa says its platform will “make it possible for US X Money Account users to fund and transfer money in real-time with their debit card”.