February 2021

allpay plants the seed for the next generation

allpay is today delighted to announce the launch of degradable swipecards, the next step in allpay’s green strategy.

Swipecards were a core innovation for allpay over 25 years ago, allowing individuals to pay their bills at outlets such as Post Office and PayPoint. Fast forward to today and the innovation continues with degradable cards with no deterioration to quality.

These will be available to all clients by spring 2021.

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SCA Deadlines Across Europe

We have spoken a lot about strong customer authentication (SCA) over the past year. However, the regulation has technically been in effect since mid-September of 2019. Now well into 2021, it is time for all European countries to fully enforce the updated SCA regulations. Let’s take a look at some of the deadlines.

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The Future is Frictionless: Customers Care About Shopping, Not Payments

Okay wants to make the payment process as smooth as possible, specifically when it comes to customer authentication. While this is just one part of the payment process that can introduce friction, it is often where checkout abandonment occurs. In this post, we’ll try to describe some of the options that we’ve seen in the market regarding frictionless payments, including their strengths and weaknesses.

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B2B Cross-Border Payments and Virtual IBANs: What’s the Common Benefit for Businesses?

One of the great innovations of the modern age is the ability of eCommerce to connect businesses, merchants, and consumers all across the world. Not only has this opened up new opportunities for businesses and consumers alike, but also it has expanded the realm of what is possible for small and medium enterprises on the global stage. And here we start with the interesting part of the current topic.

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What 2021 Will Bring to the Global Payments Industry

The global economy is expected to begin the process of recovery from the 2020 pandemic throughout 2021 and an integral part of that will be the payments industry as well as virtual IBANs and digital banking.

Analysts see five major trends on the horizon for 2021 in how things will change for the payments industry and digital banking services including enhanced automation to more robust identity verification as well as an authentication technology.

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What’s New in the EU Single Digital Market Arena?

Now, in 2021, and with the Brexit negotiations in their rearview mirror, the EU market is looking to digital banking solutions to help address problems of inequality, sustainability, and supporting a circular economy.

Indeed, the future of the market in Europe is not only digital but digital banking, in particular, will play a huge role in bringing about the social transformations and member-state cohesion needed to build economic resilience and growth for the future.

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Corporate Banking Digitalization in Process: Trends and Driving Forces

What are some of the major forces driving the corporate banking digitization process? What are the factors and trends behind some of the most seismic moves in recent years in this otherwise quite conservative industry? What are the main key-topics we should have on our radar in order to stay ahead of our business competitors and be the first to learn what would be the next
“big thing”?

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Digital Payments: What’s the Next Big Thing?

Not only is the extension of digital banking services and digital payments solutions integral to the growth of mobile and online marketplaces, but also it is central to the monetary revolution taking place right now with cryptocurrencies and the rise of a cashless economy. We have identified three major movements in digital banking that could shape how the next several years play out, from enhanced payments processing to the integration of new consumer blocks into the financial system.

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Which is More Secure: Apple’s iOS or Google’s Android?

Will our smart devices be able to implement the necessary security measures to keep up with an ever-increasing digital marketplace? If so, which ones will reign supreme? In this article, we reflect on an age-old question of iPhone vs Android device, well worth considering by all financial industry players, big or small.

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Payments Modernisation: Interoperability fuels the transformation of Cross-Border Payments

Join in this webinar from Finextra, held in association with Bottomline Technologies, to hear the discussion on the following areas with industry experts:

– Why have the G20 become so focused on cross-border payments today?
– What are the most attractive ways to modernise the cross-border payments operation?
– What impact does trapped liquidity bear on the cost of cross-border payments?
– How does Visa-Swift interoperability enable greater service options and value?
– What role do technology enablers play within this network?
– What are the key benefits of the GPI and Visa B2B Connect solutions?
– Can networks succeed alone or is collaboration the new model?

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4 Steps to a Successful ISO 20022 Migration

How do Financial Institutions in EMEA Migrate to ISO 20022, Hit Deadlines & Create New Business Opportunity?
ISO 20022 is predicted to support 80% of volume and 90% of the value of high-value transactions and SWIFT has mandated that ANY financial institution that processes SWIFT messages must be able to receive and process ISO messages by the end of 2022.

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Bottomline Announces Payments and Cash Lifecycle Platform

Bottomline, a leading provider of financial technology that makes complex business payments simple, smart and secure, unveiled expanded corporate treasury capabilities as part of its integrated Payments and Cash Lifecycle Platform. The platform empowers financial managers to optimize cash, liquidity and working capital with a unified solution combining payables, receivables, and treasury management, delivering greater visibility and control throughout the end-to-end cash lifecycle.

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Beam partners with Nuapay to enable Open Banking ecommerce payments for WooCommerce merchants

Beam launches new service, to bring instant and secure payments to WooCommerce merchants via Open Banking. Leveraging Nuapay’s payments platform, Beam is aiming to help UK businesses save £100k over the next year.

The partnership enables Beam to provide Open Banking payments to its clients on WooCommerce – the open-source e-commerce plugin for WordPress – bringing online and omnichannel retailers the benefits of faster, more secure and cost-efficient payments.

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2021 Industry Outlook

What is the future for Industry post-pandemic?

Our strategists have performed a broad analysis of multiple data points for this report, helping form a clear picture of how different sectors are positioned for 2021 and provide guidance on questions such as:

Which sectors have benefited most in 2020?
Which are best placed for 2021 should lockdowns persist?
Where could we see acceleration post-pandemic, looking 3-5 years ahead?

Download the report to find out more!

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Allstar adds 110 new charge points to EV network with Gronn Kontakt partnership

Allstar Business Solutions Limited, the UK’s leading fuel management company, announces its new partnership with Gronn Kontakt, an electric vehicle (EV) charging company owned by Statkraft – Europe’s largest producer of renewable energy. The deal means that Allstar adds a further 47 charging sites and 110 charge points to the multi-branded Allstar One Electric network.

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PPRO partners with Banking Circle to add value to PSP propositions

PPRO, the global provider of local payments infrastructure, is working with Banking Circle, the ground-breaking financial infrastructure provider, to enhance the PPRO service offering, supporting PSPs working with cross border e-commerce merchants. The partnership underlines the effectiveness of Banking Circle as a next-generation provider of mission-critical infrastructure for online cross border payments.

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It’s Groundhog Day for Payments! A New US Administration, a New UK Brexit: The Continuing Cycle of Change Keeps Banks and Fintechs on their Toes!

Join us for a cross pond webinar focusing on the enormous changes that are expected to impact payments in the US and UK featuring:

•In London, new K&L Gates Special Payments Counsel, Kai Zhang, and Partner, Philip Morgan.
•In New York, Partner and Global Fintech Co-Chair, Judie Rinearson.
•In Washington DC, Partner and Technology Law Specialist, Linda Odom, and Associate, Daniel Cohen.
•In San Francisco, Partner, Cryptocurrency and Fintech Lawyer, Jeremy McLaughlin.

Topics to be covered include:
•Expected changes to be implemented by the new US Democratic administration
•New leadership in the CFPB, SEC, OCC, and CFTC and what it means for banks and Fintechs
•UK and the implementation of Brexit with respect to payments and banking
•Anticipated changes in providing payment services to the UK and Europe
•The outlook for Fintech investment, Mergers and Acquisitions in the next 12 months on both sides of the pond
•What products and services are the winners and losers from these sweeping changes? Mobile apps? Traditional banking? Digital assets, stable coins and cryptocurrencies?

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