With cross-border ecommerce having grown by 35% globally over the last year with no signs of slowing down, how do PSPs address this explosion in demand?
In this article discusses the sharp rise in global/cross-border e-commerce and the need to offer a multi-currency solution for accepting payments for merchants.
With 2022 just around the corner, the payments industry in Fast-Growing and Emerging markets is already showing the signs of potential key trends for the next year. Nikulipe’s CEO Frank Breuss identifies three major trends he sees taking off in 2022.
PPS, an Edenred company, announces its partnership with UK-based ekko, an iconic climate-friendly debit card, app, and ecosystem that empowers consumers to make a difference in the fight against climate change. The partnership showcases PPS’ commitment to the enablement of the green finance movement.
B4B Payments (B4B), a leading global provider of card issuing solutions for businesses, is set to join the Banking Circle ecosystem to complement the Banking Circle Payments Bank, providing accounts, payments and issuing to Payments businesses, Banks and Corporates. The deal is now going through the regulatory approval process. After closing of the acquisition, B4B will operate as an independent sister company of Banking Circle.
These changing times have certainly made life ‘interesting’ for mainstream banks. Recent events have seen a marked growth in the digitisation of financial services and the emergence of crypto currencies as payment mechanisms have introduced another digital variable to the banking equation. There is a challenge to mainstream banks to step up to remain relevant in this changing world and to leverage their own trusted brand. Banks can avoid costly transformation and choose new incremental models with the right supporting payments technology.
PPS and ViaBill join forces to bring BNPL to shoppers in-store and online.
PPS was appointed as the issuer and processor for ViaBill, Europe’s leading Buy Now Pay Later (BNPL) solution, which facilitates end users to a greater access to flexible forms of credit.
PPS will be acting as BIN Sponsor, Card Issuer and Transaction Processor, and also integrating Apple and Google Pay to offer ViaBill’s customers further flexibility in payments.
Facebook recently announced that they were changing their name to Meta. The main reason? To “recast the company’s public image from battered-social-network to tech innovator, focused on building the next generation of online interaction”. Will this move have an impact on the future of global payments? Will these payments take place within virtual reality? Is there another trend that better predicts the future? Let’s take a look.
AccessPay are proud to announce a new partnership with Anthesis, experts in ERP software, consultancy, and managed services.
Effective immediately, the partnership speaks to the continuing growth of both businesses and the ongoing relevance of workflow modernisation through ERP systems and banking automation.
Nikulipe’s CEO Frank Breuss was invited to speak on CNBC Africa to discuss the tremendous growth potential of the e-commerce industry and the challenges faced by Emerging markets like Africa.
There’s an invisible force that inhibits companies from growing, competing, and reaching long-term goals:
Stress.
Stress can plague businesses, especially in the fintech and payment industries where there’s a constant demand for change and innovation. This pressure can spread severe anxiety throughout the ranks of an organization. When teams are constantly stressed, their productivity and communication decline.
Team development and resilience toolkits can help companies cultivate low-stress environments — even in fast-moving, competitive fintech industries like payment.
Ozone API, Open Future World, and UK Finance are delighted to announce the winners of the world’s first variable recurring payments hackathon. The six week event, sponsored by Accenture, Mastercard, Volt and Worldpay from FIS, was an opportunity for developers, banks, payment initiation service providers and tech platforms to demonstrate potential use cases and propositions that open banking VRPs can deliver.
Online retailers storing credit card data for the sole purpose of facilitating further purchases will likely need to obtain consumer consent.
Currencycloud announces that they we are working with Fintech start-up Lightyear Financial.
Nick Cheetham, Currencycloud’s Chief Revenue Officer says, “Lightyear are true innovators in the field who now have a cross-border solution embedded in their offer: opening up global markets to even first-time European investors.”
Find out more here: https://bit.ly/3nlPZ28
Suits me has migrated away from previous provider Contis. By utilising PPS’ technology and licenses for issuing cards and e-money, Suits Me is now able to offer services including Debit BIN, Mastercard Settlement, Banking Service, BACs In, CHAPs In, Direct Debit, Direct Debit Indemnity Claim and PayPoint cash load.
As part of their co-operation and co-investment in Planet, a leading provider of integrated payments, Advent International (“Advent”) and Eurazeo have today acquired Datatrans AG (“Datatrans” or “the Company”) and will now co-own the company.
The new investment will support the Company’s position as the market leader in secure online payments and enable Datatrans to expand into new European markets and deliver new innovative uses for its PCI Proxy platform across Retail, Gaming and Digital services throughout North America and Europe.
EML.CON Global airs November 18 and 19.
FIS UK Pace Pulse Report 2021. How British lives have changed, including changing attitudes and behaviours around payments, banking and finance, in response to the global outbreak of COVID-19.
fscom’s Senior Compliance Associate, Eoin Kearns discusses the leak of the Pandora Papers and the lessons learned for financial institutions.
LONDON, United Kingdom – Paynetics, the regulated e-money services provider, has partnered with ClearBank to offer real-time payment and innovative banking services to customers.
12th October 2021, – LONDON, United Kingdom Paynetics, a regulated e-money services provider, today announced it has secured Visa Ready certification, which enables partners to build and launch payment solutions that meet Visa’s global standards. Securing this status marks a significant moment in Paynetics’ mission to make payments simple everywhere.
B2B Payments bank, Banking Circle, has joined the Danish national intraday clearing system. Through Banking Circle as a direct clearing participant, Payments businesses and Banks can now pay out and collect payments locally in Denmark on behalf of their customers more quickly and at lower cost than via traditional cross border payment methods. This will enable e-commerce businesses around the world to tap into the growing Danish market.
How can payment and e-money institutions meet regulatory requirements to safeguard consumers’ funds? fscom’s Director Alison Donnelly and Independent Payments Consultant Russell Burke, formerly Payment Authorisation Lead in the Central Bank of Ireland, tackled this key question at the Association of Compliance Officers in Ireland (ACOI) webinar hosted by Kathy Jacobs.
fscom’s Senior Manager of Fincrime, Fred McDowell shares what elements make up a valuable MLRO Report. He also gave valuable context and practical suggestions as to the content that you might consider under each section.
In one of our most recent webinars this month, fscom’s Director Alison Donnelly and Senior Managers, Dipesh Patel and Dane Pedro JP, tackled the most common questions that come up in their daily work with clients who are seeking authorisation in the UK.
Green fintech Tred has announced that their UK green debit card launch will be with Mastercard, enabled by Nium’s card issuing service.
In anticipation of their upcoming launch, and to celebrate this announcement, they’ll be planting 10,000 trees with Mastercard as part of its Priceless Planet Coalition, launched last year with a firm commitment to plant 100 million trees by 2025.
London corporate team represents leading digital cross-border payments platform in achieving a post-money valuation of US$5 billion.
Latham & Watkins advised Zepz, formerly WorldRemit, on raising US$292 million in new primary financing and achieving a post-money valuation of US$5 billion. Zepz is a digital cross-border payments platform operating two market-leading brands (WorldRemit and Sendwave, acquired in 2021), with over 11 million users across 150 countries.
The round includes new equity investors Farallon Capital among others, as well as backing from existing investors Leapfrog, TCV, and Accel.
The Latham team was led by London corporate partners Mike Turner and Shing Lo, with associates Katie Kaplucha and Sam Peacock.
Did you know one of Modulr’s most popular platform features is card issuing?
So much so, we’ve decided to celebrate cards with our first ever Cards Week.
Join us from Monday 29.11 – Friday 03.12 for five succinct sessions over five days where you’ll have the opportunity to hear the latest innovations in card issuing from industry innovators at Visa, TagNitecrest and Zumo.
Register here: https://bit.ly/3GP4wen
PXP Financial Inc has announced a partnership with leading provider of integrated payment processing and technology solutions Shift4, as PXP expands its capabilities in the US market.
While some may say m-commerce has simply piggybacked on the overall e-commerce “boom”, this really isn’t the case: m-commerce has actually overtaken desktops, the traditional king of e-commerce, to become the reigning form of online payments. Yet a mobile-first world has some implications for issuers when it comes to payments – let’s dig in.
E-commerce growth is predicted to reach the pre-pandemic level by the end of this year. However, Fast-Growing and Emerging regions remain excluded from access to global e-commerce due to prevailing constraints on cross-border shopping.
Fintech and trusted payment service provider Paynetics is hosting its third roundtable on the future of fintech, held virtually via Zoom on the 8th December, from 12-1:30PM (GMT).
A recent Financial Times Focus report revealed how banks may be on the brink of extinction. Technology, customer focus and a real social purpose can still save them.
Blue Train Marketing’s latest blog details the necessary steps that you must follow when creating a fintech brand name. From competitor research to your brand’s purpose, you must take it all into consideration.
Exploring the huge rise of Buy Now Pay Later solutions, and what it means for the industry and the consumer.
Exploring the growth of Banking as a Service – and what it means for the industry.
Embedded Finance has become one of the hottest issues in the fintech space. The term was coined by Angela Strange at VC firm Andreessen Horowitz who also asserted that in the future “every company will be a fintech company” because every company will be able to embed financial services. But does that really mean every company will be a fully-fledged fintech company just because they have embedded financial services? Vicki Gladstone, Moorwand CEO, doesn’t think so.
Kani is now integrated with many of the world’s payments data processors – this, combined with its data and processor-agnostic approach, and the fact that Kani can easily and quickly ingest data from the multiple processors, banks and BIN sponsors that payment and fintech companies work with, makes onboarding and working with Kani fast and efficient. Raw data files in different formats can be imported and reconciled in just a few minutes, and parsed into much more understandable reports.
A dynamic landscape and the unprecedented pace of change make for an exciting and demanding marketplace, increasing the need for Capacity, Cost, and Competition. James Hodgson and Tim Tor from NatWest talk with Chris Peck of Bottomline and Teresa Connors of Payment Matters about the effectiveness of partnerships and collaborations and the difference it makes in better-serving customers.
Bottomline, a leading provider of financial technology that makes business payments simple, smart and secure, announced the latest API-based payments tracking service for banks worldwide, integrating SWIFTgpi data. The gpi data is captured on behalf of Bottomline clients and is integrated into their payments workflow, which simplifies and unifies the API access points.
The fintech industry is ultra-competitive and growth-oriented by nature. Even during the height of the pandemic, a time of suppressed economic activity, fintechs not only prevailed but also expanded operations and improved access to financial services across the globe.
As the world continues adapting to the pandemic, sales growth for the financial services industry has even more room to run. Payments, wealth management, asset exchanges — consumers expect these activities to be digital. They have an expanding appetite for new features and product differentiation, spurring even more competition and growth among fintech firms.
Long story short, it’s a good time to be in the fintech space.
But what happens when fintechs, like payment providers, grow too fast?
Your payments infrastructure could be costing you more than you realise. Using multiple providers costs time, costs cash and, more importantly, costs customers. Which is why we’re talking to clients who have moved away from traditional banking and moved towards Fintech-as-a-Platform. We’ll also be joined by Mat Megens, Founder & Chief Executive Officer from HyperJar for a fireside chat on their ‘journey’ to success, powered by Modulr.
The event will cover:
o BaaS vs FaaS: What’s the difference and what do you need to build financial products customers love?
o The key challenges faced by companies that offer payment or bank-like services
o How to avoid business inefficiencies by using a joined-up Fintech-as-a-Service partner (such as… well, Modulr)
Register here: https://landing.modulrfinance.com/scaling-a-fintech-with-modulr-baas-0
Leading dispute technology specialists, Chargebacks911, announces the appointment of fintech workhorse and strategic leader, David Jimenez, as Chief Revenue Officer (CRO).
The payment expert continues its successful US growth with its latest acquirer partnership
New Nium API-based Crypto-as-a-Service platform is the first to allow financial institutions to integrate popular crypto capabilities into their financial applications, including the ability to buy, sell, and hold the most popular digital assets; future service elements will allow for stablecoin wallets, as well as crypto acceptance
Nium also expands its comprehensive suite of global Banking-as-as-Service solutions, adding card issuing capabilities in the U.S.
Whenever a transaction was made, One Point Universal co-founder Jack Cui or his colleagues would be called by their bank to personally sanction the transaction. This was proving to be extremely time-consuming and complicated. Worse, their clients weren’t getting their funds in the time that One Point Universal had promised: integrity and transparency are very important to One Point Universal’s founders.
The bank wasn’t nearly flexible enough, it was very old-fashioned, complex, expensive, and slow.
In early 2021 One Point Universal looked for a new partner. They chose Currencycloud.
Back in January, CEO Fabien Ignaccolo wrote a post on our 2021 predictions for SCA. Among the predictions was a future PSD3 enabling SCA for the non-banking industry, as well as an expectation for a renewed focus on Digital Identity. While PSD3 is still on the horizon, there has actually been more of a significant movement in the eID sphere.
By integrating with Currencycloud’s Spark APIs, FinTech DynaPay Ltd was able to achieve dynamic growth in just 12 months; having grown five-fold in terms of team size, revenue and customers.
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