August 17, 2020

Will cashlessness prompt a rise in business banking for merchants?

Cashless payments were on the rise way before the pandemic. However, COVID-19 has forced consumers to abandon notes and coins in favour of mobile and contactless card payments. Recently, Nationwide revealed that, in a poll of 2,000 Brits, more than a quarter have gone two or more months without using cash. In addition, the usage of ATMs has seen an unprecedented drop of nearly 80% in some countries.

Although the pandemic may not be the final nail in the cash-coffin, the vast majority of payments are now digital – whether face-to-face or online. And while this is great for digital payment providers (and the taxman), merchants must now ensure their business models and payment methods are in line with consumers’ cashless expectations.

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Currencycloud secures e-money license from Dutch Central Bank to help drive European expansion

We are pleased to announce that we are now 1 of 7 non-banks to have secured an e-money license from the Dutch Central Bank.

Mike Laven says of the recent news, “Covid-19 has accelerated the rush towards digital payments and Europe represents a tremendous opportunity for Currencycloud. The Netherlands possesses the perfect blend of factors to support our expansion in the EU…”

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Starling, TranSwap and Remitr among first wave to sign up to Currencycloud Spark

Last year the pilot programme for our newest offering, Currencycloud Spark went live.

Over 30 Fintechs around the world, including Starling Bank, Remitr and TranSwap , signed up to benefit from the functionality, which gives businesses and their customers – the ability to receive, store funds and make payments in more than 30+ different currencies, almost anywhere in the world.

We’re pleased to now announce the wider rollout of Currencycloud Spark, our multi-currency wallet infrastructure!

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COVID-19 and the World of Work: How being apart has fostered togetherness

The coronavirus pandemic – which has hit the big metaphorical ‘pause’ button on the world – has seen routines upended, travelling coming to a grinding halt in order to curb the spread of the virus, and the world of work flipped on its head.

With governments around the world advising or mandating that people remain at home, commutes to the office have gone from a 90-minute balancing act on a crowded train amongst throngs of commuters, to a 10-minute shuffle from the bed to the kitchen table.

So how has GPS helped our staff navigate this strange “new normal” and what lessons might there be for the future?

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Trust Payments Ltd announces acquisition of customer engagement and mobile loyalty platform Mobilize Systems

Trust Payments, the global unified payments group for global pay-in, pay-out and customer journey technologies today announced it has acquired Mobilize Systems, a UK based engagement and mobile loyalty platform serving the retail and hospitality sectors.

Mobilize provides seamless, data-rich services to merchants looking to capture and expand customer engagement and loyalty programmes, primarily in the mobile space. The acquisition will enable Trust Payments to combine behavioral analytics with transactional data to offer enhanced product journeys for customers, improved payment options, and better insight for businesses.

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xpate launches xPP, a new strategic initiative to support worldwide partner community

xpate, a fintech services platform for both retail and business customers, launches xPP [xpate Partnership Program] to emphasize its major commitment to grow through and with its partners. xPP makes it fast and simple to refer businesses that will get access to a global payments platform along with the opportunity to expand their operations with value added services, local payment and wire transfer options across the globe.

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Fintech scene in Hungary at the time of coronavirus

The COVID-19 pandemic and the expected economic downturn will definitely shape the global fintech landscape. The fintech scene in Hungary is still in its early days but it has been growing rapidly over the last few years. We hopped on a Zoom call with some of them to learn how they deal with the current situation and hear their thoughts and predictions about the upcoming trends, challenges, and potential opportunities.

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Managing refunds exposure & merchant creditworthiness during COVID-19

COVID-19 continues to spread rapidly and the economic crisis escalates globally every day in the face of the pandemic. The humanitarian cost and stress on health systems and infrastructure induces fear and uncertainty, affecting lives and livelihoods on a daily basis. One area of great significance is the threat of illiquidity among partners and cashflow crises that damage or destroy once stable businesses. Cybertonica is building a new feature for Acquirers that predicts cash flow impacts and liquidity problems Merchants may face so that the payments operator can react appropriately, maybe vary conditions or seek to terminate a relationship if there is a risk of bankruptcy or fraud.

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Cybertonica: moving forward on the path to gender parity

At Cybertonica, we believe that the success of our business depends on our diverse and multinational teams. We decided consciously focus on building both a more diverse management team and engineering group back in 2016.

Recently we’ve been lucky to be able to grow our team and bring nine new people aboard. Cybertonica now comprises 12 nationalities and more than 40% of our workforce are women. We’re pleased with the progress that we’ve made since the start of our business and want to thank all our partners and supporters!

In this blog post we tell our journey towards the gender parity in our organisation and compare it to the fintech industry average.

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Cash has been dethroned!

Since the pandemic has started, cash is considered filthy, and it is capable of transmitting disease. Online Payments mitigate against the risk of disease transfer, but also open up new threats and vulnerabilities.

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Privat 3 Money partners with FintechLab

Privat3Money (P3) a UK E-Money Institution who offers global citizens and corporates an intuitive digital platform to manage their financial needs, has selected Vilnius (Lithuania) based FintechLab to power its core payments platform and mobile app.

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B2B eCommerce Models – Growth Challenges and Opportunities

As brick-and-mortar firms come under increasing market pressure, eCommerce business models are starting to appeal to a larger segment of the global population and it is so for solid reasons. For one, they’re not only more nimble and agile firms when it comes to meeting customer demands and adapting to the market but also they are the first to take advantage of the latest innovations in B2B eCommerce solutions like virtual IBANs.

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How to build a better bank: Modulr’s step-by-step guide

~70% of consumers have considered switching to technology-led banking products. Whether you’re an incumbent or a challenger how do you stack up against cutting edge technology and design? Well that’s where our new 5-week audio/eBook series comes in – sign up today to learn How to Build a Better Bank.

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Trust Payments partners with SPOKO on money transfer solution for immigrants in Poland

Trust Payments, the global unified payments group for global pay-in, pay-out and customer journey technologies has announced it has partnered with SPOKO (previously known as Pay Ukraine) to enable it to offer its money transfer service to customers in Poland. The collaboration provides a powerful, convenient multi-currency payment solution targeted toward SPOKO’s target customer base of immigrants in Poland, which has recently passed the 100,000-user milestone.

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Banking Circle adds same day local payouts in Polish Zloty to its payout capabilities

Banking Circle, the ground-breaking financial infrastructure provider, has added Polish Zloty (PLN) to its local currency payout capabilities. Payments businesses working with Banking Circle can now provide their merchant customers with same day settlement for payments to Poland in Polish Zloty via the local payment network, eliminating the need to use the SWIFT network and, therefore, ensuring the end party receives the full amount.

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Fuel Market Monitor Webinar – After Covid oil price crash: what’s next for fleets

Allstar Business Solutions is pleased to announce its latest webinar: ‘Fuel Market Monitor Webinar – After Covid oil price crash: what’s next for fleets’.

Taking place on Tuesday 21st July at 10am BST, the session will examine one of the most dramatic periods of the past few decades, and how the seismic impact of Covid-19 has reshaped the fuel and fleet landscape for the foreseeable future.

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