European Parliament authorises new regulations for instant money transfers
The new regulation was approved with 599 votes in favour, 7 against, and 35 abstentions.
PayTech
ICYMI fintech funding round-up: Navro, Finally, Cashinvoice, SUMA Wealth and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
India’s Juspay acquires LotusPay to enhance payment capabilities
Juspay plans to enhance its offerings for the banking, financial services and insurance industries.
Nepal Clearing House selects ACI Worldwide to power National Payment Switch service
Nepal Clearing House expects to launch its NPS service in Q4 2024.
India’s PayU selects Thought Machine’s Vault Core to power LazyPay credit service
Thought Machine says PayU was able to migrate LazyPay to Vault Core in just 12 months.
Fat Zebra bolsters CDR capabilties with acquisition of Aussie open data platform Adatree
The deal joins Fat Zebra’s payments platform with Adatree’s CDR-compliant open data capabilities.
Worldline to cut workforce by 8% with €200m cost-saving initiative Power24
The cuts are expected to result in the termination of around 1,400 positions.
India’s UPI launches in France through collaboration with Lyra Network
The move is a continuation of Indian PM Narendra Modi’s vision of “taking UPI global”.
India’s Tata Consultancy Services reportedly in the race to run UK’s Faster Payments service
The potential move would see TCS replace Mastercard’s Vocalink as the service’s technology partner.
Banking Technology Magazine February 2024 issue out now
Cover story: PLANT LIFE – Talking flora and quantum computing.
ICYMI fintech funding round-up: Kafene, General Index, Mesh and Netcetera
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK open banking fintech Kikapay winds down
Douglas Pinteau and Dermot Coakley of WSM Marks Bloom LLP were instated as joint liquidators on 16 January.
State of play: payments
Today, consumers have more options than ever to make payments. So which method will ultimately win?
Blackhawk Network inks agreement to acquire Rewards-as-a-Service platform Tango Card
The acquisition, which will combine both parties’ rewards platforms, is expected to close later this year.
MessageBird seeks entry into financial services with call for potential acquisitions
The platform’s search is currently focused on companies with EMI/PI licences and revenues of up to $5 million.
Kriya announces new £50m funding facility from Viola Group
Kriya aims to use the facility to enhance its offerings for B2B retailers.
Jack Dorsey’s Block lays off staff across Cash App, Square and foundational teams
The cuts are to be actioned with immediate effect, according to a staff memo from Dorsey.
PayPal to trim workforce by 9% over 2024 in bid to streamline business
PayPal president and CEO Alex Chriss says the cuts aim to “reduce complexity and duplication”.
UK fintech Paysme winds down operations
Founder Derek Stewart says Paysme is “not in a sufficiently strong financial position to grow to the next milestone”.
Power in simplicity: confirmation of payee provider SurePay wins at Banking Tech Awards
Making life difficult for fraudsters but easier for business is the real success story, says SurePay.
Mondu gears up for European expansion with €30m debt financing boost
Mondu’s credit facility with VVRB now stands at €50 million following an earlier deal in 2022.
Bilt Rewards more than doubles its billion-dollar valuation with new $200m equity investment
Bilt Rewards was previously valued at $1.5 billion following a $150 million funding round back in 2022.
CFPB proposes new laws to stamp out NSF fees for transactions declined in real time
NSF fees on debit card and ATM transactions will be “unlawful” under the proposed rule.
BillingPlatform lands $90m growth equity investment from FTV Capital
BillingPlatform previously raised $10 million in a Series B round back in 2019.
Former Adyen exec Jan-Pieter Lips joins UK’s DNA Payments as CEO
The London-headquartered firm has tasked its new CEO with leading its next period of growth.
PayTech Awards 2024 sponsorship opportunities
Unmissable sponsorship opportunities – digital and physical – at the upcoming PayTech Awards on 28 June.
BNPL firm Billink fuels European expansion plans with $32m funding from Varengold Bank
The Dutch paytech is looking to expand its presence and break into the neighbouring market of Germany.
Aussie paytech EML Payments to wind down Irish subsidiary PCSIL
Interpath Advisory has been instated as provisional liquidator for PCSIL.
Demystify Podcast: Lettspay and Griffin – demystifying working with a challenger bank
Our guests on the Demystify podcast this week are Adam Moulson, Griffin’s COO, and Garrett Foxon, CEO of Lettspay.
LatAm fintech Pomelo secures $40m Series B led by Kaszek
The fintech has now raised $103 million to date, including a $35 million Series A in October 2021.
NPCI teams up with Google Pay to expand UPI beyond India
UPI has been recognised as a key accelerant in the real-time availability of financial services in India.
Join us as a judge for PayTech Awards 2024!
The prestigious PayTech Awards 2024 invites payments professionals to apply to join the esteemed panel of judges.
Nepal’s Kumari Bank taps Compass Plus Technologies for payments processing
The pair states that it has migrated over 500,000 cards, 1,200 POS terminals and almost 300 ATMs.
The ai Corporation names CCO Piers Horak as new CEO
Horak succeeds Dr Mark Goldspink in the role after over 10 years with the UK-based paytech.
Paymob lands PSP licence from Oman’s central bank
Paymob now claims to be the first international fintech company to be fully licenced in Oman.
Commerzbank forms joint venture with Global Payments for SME payment solutions
The new joint venture, Commerz Globalpay, is expected to launch in H1 2024 and will be based in Frankfurt.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
Millennials and Gen-Z embrace digital banking and “mobile-first” payment mindset. Could that be a problem?
Consumers need to be clear on what constitutes proper – as well as improper – use of mobile banking and payment platforms.
Social media platform X aims to deliver P2P payments this year
The social media platform has obtained a money transmitter licence in 14 US states so far.
Former Barclays managing director Simon Bladon joins PayPal as UK CEO
Bladon will also serve as vice president of global entity management for the payments giant.
