Join VIXIO’s upcoming webinar on May 20 with guest speakers from Gemini, Mackrell.Solicitors and the European Parliament to discuss how payments firms can balance innovation with crypto regulation.
A KPMG Private Enterprise report on Venture Capital investment in UK scaleup businesses in the first three months of 2021
Open banking platform Tink partners with payments technology provider Tribe for open banking payment initiation and account check services.
Blog post below –
Thames Technology is delighted to announce its partnership with ekko, the latest member of Mastercard’s Priceless Planet Coalition, as it becomes the first fintech globally to use Thames Technology’s recycled plastic debit cards.
On April 19th, the Bank of England published a policy for the use of omnibus accounts with the central bank’s real-time gross settlement (RTGS) system. The announcement has been greeted with enthusiasm by providers of virtual currency and blockchain-based payments, which see the new system as clearing a path towards direct participation in central bank settlement.
:Marcus Hughes, director of business development at Bottomline Technologies, told VIXIO that the policy brought a “tremendous clarity which wasn’t there before, and I think this will become a blueprint for other central banks”.
Ambitious Danish fintech Blocser and top UK card manufacturer allpay.cards are ready to let ‘Butterfly’ take flight.
allpay.cards are providing their unique end-to-end card manufacturing solution to Blocser who are launching an app, with a payment card, to support the ever-growing number of UK gig economy workers.
Stay up to date on the latest developments in the payments industry from the UK, Europe and beyond, with Eversheds Sutherland’s quarterly bulletin, Payment Matters.
In the latest edition, they discuss: significant developments in the UK’s plans for Open Banking and Open Finance; continued focus on the effectiveness of the revised payment services directive (PSD2); the Contingent Reimbursement Model (CRM); newly introduced for payment initiation service provider (PISP) payments, and the recent review published by the Lending Standards Board (LSB); and the success of Instant Payments in the Netherlands, and the drive for eurozone coverage, backed by the European Central Bank.
ekko partners with Paynetics UK to power fintech arm of new app that is turning the tide on climate change
Paynetics’ sister company phos, the fintech behind the leading software point of sale (POS), has partnered with Nordics fintech innovator maxaa to give merchants access to a complete and affordable digital payments solution.
Rebranding and website relaunch
The inaugural meeting of the International Institute of Finance (IIF) – Emerging Payments Association (EPA) Global Payments Forum was held on March 16, 2021 as a virtual event. Around 100 people registered for the first meeting from across IIF and EPA members and invited guests. The findings from that meeting are reported here.
Annex – Polling results in detail
One of the more vexing problems of the modern age when it comes to international business is that regulatory regimes often do not keep pace with technological innovation.
Nonetheless, novel solutions to B2B cross-border business have emerged in the form of virtual IBANs, financial instruments that drive the innovation economy and enable new, powerful business models.
Here we have outlined three ways that virtual IBANs are transforming the way companies do business locally and abroad:
When it comes to digital banking and compliance, robust KYC practices not only prevent fraud and financial losses but also strengthen a firm’s ability to conduct business with confidence.
This is typically because of the four key elements of strong KYC practices that make sure firms know who they’re doing business with and what to expect from that relationship.
We’ve identified the four essential elements of effective compliance in KYC practices for digital banking in order to show you how they help improve the competitiveness of businesses of any size or scale:
The year 2020 saw many of the innovations and prognostications of analysts come true as contactless payments and digital banking solutions drove the field of Fintech innovations. Looking ahead, however, 2021 could be the year that consolidates much of this growth and prepares the economy for the next stage of digitization.
We at Monneo have identified five major trends that we think are driving the Fintech innovations in digital banking, in 2021 and beyond:
The digital banking era is upending traditional payment solutions and transforming the global financial industry in the process. And this is on both the corporate and consumer level with changes in payments solutions reaching into every facet of the international economy.
These innovations in digital banking are not only enabling increased efficiencies and expediting capital flows at a rate previously unthinkable but also are leading the way in changing the dynamic and level of depth of the business-customer relationship.
Even with the advent of central bank digital currencies (CBDCs), senior policy-makers have said it will be some time before financial institutions can enjoy frictionless cross-border transactions.
The London based E-Money solution for global citizens Privat3 Money (P3), is pleased to announce the launch of its new Mobile App available for both Apple IOS and Android devices. This milestone is P3’s latest step to provide its global citizen clients a completely seamless user experience and ultimately greater control over their finances.
Apply to an open program for a faster, more efficient and successful go-to-market journey for Fintech innovation.
Allstar Business Solutions has partnered with the electric vehicle (EV) fast charging point provider Plug-N-Go.
Allstar will be integrating Plug-N-Go’s 18 EV charging sites into its multi-branded Allstar One Electric network, which now consists of over 1,700 sites across the UK.
For customers, the partnership will:
• Provide greater access to charging points, lowering range anxiety – a barrier for businesses adopting EV
• Ensure that they have full control over their drivers’ refuelling and spending habits, capturing where and how company money is being spent
For Allstar, the partnership is the latest in a string of strategic deals that are enabling it to work towards its goal of creating an EV charging network equivalent to its traditional fuelling points.
FLEETCOR® UK has made a minority investment in Mina, a cloud-based digital software platform that simplifies charging and payments management for commercial fleets with electric vehicles (EVs).
The Fintech for Fintech’s Kani Payments, specialising in payment reconciliation and reporting has announced hitting £5 billion reconciliation milestone and the appointment of three senior hires.
Trust Payments is pleased to announce that the United Kingdom’s Financial Conduct Authority (FCA) has granted its subsidiary, TrustUK Payments Ltd, an Authorised Payment Institution (API) License. The license permits the company to engage in payment services directly in the UK without the need to rely on its existing EU licensing structures, or transitional arrangements in the wake of Brexit.
Brian Hanrahan explores the current climate, with COVID-19 leading to significant economic downturn, shedding light on how holdbacks from acquirers are becoming more prevalent.
Learn how Nuapay’s Account-2-Account payments, funds are delivered in real-time as no acquiring bank is required to facilitate payments. This means no more holdbacks, giving businesses in at-risk sectors the breathing room they need to survive in challenging economic conditions.
W2, award winning global provider of regulatory compliance solutions today announced their partnership with market leading payments provider Contis to supply end-to-end KYC/AML processes for customer onboarding and ongoing monitoring.
Nuapay, powered by Sentenial, announces it is extending its open banking payment capabilities to German and Italian banks. This expansion will enable German and Italian partners to offer open banking payment solutions, powering seamless account-2-account payments for their customers.
This rollout connects 308 banks in Italy and 435 banks in Germany to Nuapay’s Open Banking platform, connecting 134 million European accounts and reaching 98% and 70% of payers in each country.
Rush has partnered with EML Payments to deliver its prepaid Mastercard card.
Ordo is on a mission to make paying and getting paid easy, helping everyone control their finances, from large enterprises to small businesses and consumers. Using Open Banking technology, Ordo has digitised the process from buying goods or a service, invoicing, payment, reconciliation and confirmation to make it seamless for business and easy for payers.
Ordo has partnered with CGI, independent IT and business consulting services firm delivering an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions.
Together they helped PFP energy, a not-for-profit energy company, or as they like to call it ‘Profit for Purpose’….a partnership with that warm fuzzy feeling.
The recipe for success in the e-commerce business is much the same as any other entrepreneurial endeavor except it comes with many opportunities for growth and leverage that physical businesses don’t have.
Online business may be the future of many markets, and for good reason. From scalability of immediately needed resources to cost-effective innovation and optimization, we have identified five key elements of success for e-commerce business in the modern age:
E-commerce businesses can’t put enough of a premium on online cybersecurity and protection against threats. Not only can malicious actors steal data and commit fraud, but they can also completely undermine a customer’s confidence in your business.
To avoid costly fraud and cyber threats, we’ve found five primary areas of focus that e-commerce businesses need to keep in mind as they move forward in the online market:
As part of a European Union mandate called the Revised Directive on Payment Services, or (PSD2), merchants operating in the EU economic zone must use payment service providers within the European Economic Area that offer what is known as strong customer authentication.
This is also sometimes referred to as the SCA requirement or the PSD2 compliance. In essence, this directive ensures that transactions occurring within the EU’s economic territories make use of multi-factor authentication in order to verify a buyer’s identity.
The promises of the European Union single market, while not full borne out in the reality of the business world, where the same are actually still far from the dream promised when it comes to the virtual single market. What does this mean?
In other words, the European Union might act as a single market when it comes to monetary issues and beyond, but the EU single digital market is hampered and its growth restricted by a myriad of factors including various compliance regimes and the logistical mastery needed to make it all work.
Intuit QuickBooks, the small business platform, today announces it has entered into an agreement with Payments-as-a-Service FinTech, Modulr. Modulr will power the new QuickBooks Business Account, a new digital payment account designed specifically for small businesses.
By providing payments infrastructure and digital payments expertise, the collaboration will allow QuickBooks to combine an industry leading business account with its suite of bookkeeping, accounting and tax tools, building on its vision to be ‘The One Source of Truth for a Small Business’.
Moorwand, the payments solution provider which aims to transform compliance into an enabler of innovation, has launched ‘Dear Luc’, a new payments agony uncle column with Fintech Futures.
Vacuumlabs has announced a global partnership with Thought Machine following the two firms’ successful cooperation in Asia.
FEBRUARY 23, 2021 | LONDON, UK | BY JAMES THORPE Lloyds Bank customers can now pay their credit card bills via their mobile app, leveraging
FEBRUARY 4, 2021 | LONDON NatWest Group to switch all Debit portfolios to Mastercard Mastercard and NatWest Group today announced an expansion of their payments
From currency notes to cheques and then banking cards to completely virtual transactions— the payments industry has come a long way in the last 100 years. The progression in the payment industry has also fuelled growth across the industrial spectrum.
Fintech and trusted payments enabler Paynetics has partnered with Benamic, the global leader in promotional fulfilment, to develop its mobile first, digital corporate card programme.
Open banking payments are new, but where this payment option is offered to consumers, adoption is skyrocketing. TrueLayer CEO & Co-Founder, Francesco Simoneschi, shares some data points which challenge the myth that open banking payments are not ready to go mainstream.
America’s first dedicated consumer privacy watchdog is beginning to take shape, aiming to replace the “two strikes you’re out” framework with a “speeding ticket” one. The new enforcement model brings a risk of higher administrative fines and less chance to escape liability but businesses receive guidance and still have time to become compliant.