Sweden opens national payment system to more types of instant payments

Sweden’s central bank, the Riksbank, is opening up its payment system RIX-INST to more types of instant payment. Previously, the system was only open to Swish payments.

Today, a Swish payment is executed in seconds between banks, while other payments, via alternative systems, can take several days to reach the recipient. The Riksbank’s payment system, RIX-INST, is now being opened up so payments of this type can be made instantly. However, in a statement the Riksbank stresses that it only provides the underlying infrastructure. Whether more instant payment services will be offered to the public and businesses is up to the banks connected to RIX-INST.

The Riksbank also cooperates with other central banks to enable instant payments between different currencies. The ECB is leading the initiative that will make it easier for companies to develop services for this purpose. Initially, payments will be possible between euros, Swedish kronor and Danish kroner.

“We are pleased to be able to open up new types of instant payments in RIX-INST today,” said Christina Wejshammar, Head of the Payments Department. “We now hope that the banks that have joined will seize the opportunity to create the instant payment services that people and businesses want. For example, this could involve purchases that are currently paid for by online bank transfers but where both payer and recipient want to see that the payment has been received straight away.”

 

US output growth accelerates as business mood brightens and inflation cools

Flash US Purchasing Managers’ Index (PMI) survey data signalled a marked upturn in growth of business activity in November to a 31-month high, with output buoyed by the sharpest rise in demand for two-and-a-half years and improved business confidence. Firms’ expectations of output in the coming year rose to the highest since May 2022, attributed to the prospect of lower interest rates, improved economic growth, and more supportive business policies from the new administration in 2025.

Employment fell for a fourth successive month, while output price inflation cooled to the lowest since prices began rising in June 2020, with prices charged for services showing an especially modest rise.

Growth was again driven solely by the service sector, but rising optimism and renewed hiring in manufacturing hinted at the upturn becoming more broad-based in the coming months.

The headline S&P Global Flash US PMI Composite Output Index rose to 55.3 in November, up from 54.1 in October, signalling the fastest expansion of business activity since April 2022. Higher activity reflected rising demand, with new orders picking up sharply to register the strongest upturn in business inflows since May 2022.

Growth remained very uneven across the economy, however, with a surge in service sector activity contrasting with a further downturn in manufacturing. While service sector output rose in November at the fastest rate since March 2022, manufacturing output fell at a rate not seen since December 2022. The resulting divergence in output was the widest recorded since data were first available in 2009, barring only May 2021, amid the re-opening of the economy from pandemic restrictions.

Similarly, while new orders for services rose at a rate not witnessed since April 2022, new orders placed at factories fell for a fifth straight month, albeit registering the smallest decline seen over this period to hint at the production downturn potentially moderating in December.

Looking further ahead, having slumped to a 23-month low in September, optimism about output in the coming year recovered for a second successive month in November, reaching the highest since May 2022. The improvement in sentiment was broad based, but was especially notable in the manufacturing sector, where optimism struck a 31-month high, adding to suggestions that the economic expansion may become more even in the coming months.

Improved prospects reflected the clearing of political uncertainty following the US Presidential Election, according to anecdotal evidence provided by survey respondents, accompanied by expectations of lower interest rates, lower inflation and improved economic conditions. Respondents also often cited a more business-friendly incoming administration as beneficial to the outlook, notably in terms of looser regulation and protection measures, the latter helping boost sentiment, particularly in manufacturing.

“The business mood has brightened in November, with confidence about the year ahead hitting a two-and-a-half year high,” said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence. “The prospect of lower interest rates and a more pro-business approach from the incoming administration has fuelled greater optimism, in turn helping drive output and order book inflows higher in November.”

 

Kyriba and Riyadh Air plan to revolutionise treasury management in the aviation sector

Kyriba has announced a partnership with Riyadh Air, a new international airline owned by PIF. The partnership is designed to enable Riyadh Air to automate and streamline its treasury management processes, laying the foundation for efficient and scalable financial operations as it embarks on a significant growth journey within the aviation sector.

Through Kyriba’s end-to-end SaaS treasury management solution, Riyadh Air will use advanced AI, machine learning, and API capabilities to gain full control over financial operations, strengthen bank relationships, and enhance decision-making processes. As Riyadh Air scales its operations to meet the growing demands of Saudi Arabia and global aviation markets, the pair say this partnership underscores both companies’ commitment to innovation, operational excellence, and global leadership in the industry.

The integration of Kyriba’s AI-driven treasury solution will bring advanced automation to Riyadh Air’s financial processes, reducing manual tasks, improving cash visibility, and enabling precise financial forecasting. This technology provides Riyadh Air with enhanced control over its financial operations, which should contribute to increased efficiency and improved bank relationship management.

 

Solidion Technology announces strategic Bitcoin allocation for corporate treasury

Solidion Technology, an advanced battery materials provider, has announced a major step forward in its corporate treasury strategy by allocating a significant portion of its excess cash reserves to Bitcoin. The firm says that this move, alongside the broader pro-Bitcoin environment influenced by the recent election of a pro-crypto administration, solidifies the company's long-term belief in Bitcoin's role as a store of value and a strategic asset. 

Solidion's core business continues to be developing and commercialising high-capacity silicon anode materials, featuring non-silane gas-based and graphene-enhanced versions for automakers and other energy storage applications, along with leveraging other advanced battery technology in its over 550 patent portfolio.

The company announced it will commit 60% of any excess cash from operations to Bitcoin purchases. It will convert interest earnings on cash held in money market accounts to Bitcoin. Further, Solidion will designate a percentage of funds to Bitcoin acquisitions to be held for the long-term.

The allocation reflects a strong commitment to enhancing shareholder value by leveraging Bitcoin's potential as a hedge against inflation and as a valuable component of a diversified treasury.

The company notes that the recent election results have brought significant attention to Bitcoin, with a new administration known for its pro-Bitcoin stance and support for a Strategic Bitcoin Reserve. 

 

Mastercard and Unzer look to advance open banking payments across Europe

Unzer, a provider of payment and software solutions, has selected Mastercard as its strategic open banking partner in Germany, Austria and Denmark to enhance open banking account-based payments to power e-commerce payments across Unzer’s payment gateways. 

Through this partnership, Unzer and Mastercard aim to create a unified digital payment ecosystem by leveraging Mastercard's open banking-driven solutions, enabling access to pay by bank. These innovations will offer customers more secure and seamless payment options, providing greater flexibility when making online purchases. 

In contrast to traditional payment methods, open banking enables any bank account holder to make fast digital payments directly to a merchant. These transactions are initiated through existing bank authentication processes, including biometric verification, making the payment process both straightforward and efficient.  

 

Santander and dentsu to build international growth platform for SMEs

Santander Corporate and Commercial Banking has appointed dentsu, an integrated business transformation partner, to support the globalisation of its international growth platform for SMEs (small and medium enterprises).  

The platform, which aims to simplify international trade for businesses around the world, is embarking on an ambitious growth journey spanning the next five years. Launching into new markets will be essential for these plans, with sights set on 45 across the globe. This includes 10 core markets for the bank alongside additional markets related to its alliance banking partners. 

It will provide users with a digital-first customer experience, giving them access to everything they need to enter a new market with confidence. Users will be able to build their knowledge with industry and market insights and create new connections through exclusive discounts and in-market providers with access to bespoke solutions to help break down trade barriers. 

The platform, to be built by dentsu, is foundational to Santander’s mission to simplify international trade for the world's SME community, which represents over 90% of the business population and contributes around half of GDP. These businesses are the backbone of the economy, driving growth, prosperity and innovation. Empowering more to expand internationally will unlock new opportunities, driving transformative impact on a global scale.