Payments News

On The Web

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Global

Worldline and Nets become shareholders of EPI Interim Company

“The European Payments Initiative (EPI) has entered its next phase with Worldline and Nets becoming shareholders of the EPI Interim Company. Meanwhile, third-party acquirers have joined the initiative. The EPI was created by 16 European banks in July to provide a unified, innovative pan-European payment solution leveraging Instant Payment/SEPA Instant Credit Transfer, which offers a […]
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Deals

Nexi Buys Nets in $9.2 Billion Deal to Create Payment Giant

“Italian payments processor Nexi SpA agreed to buy private equity-owned rival Nets A/S , creating the Europe’s biggest payments firm by volume in a quickly consolidating industry…The transaction, finalized just a month after Nexi purchased another competitor, adds to a wave of consolidation sweeping the continent’s financial services industry, and will extend the Italian company’s […]
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Companies

Stripe moves payment processing to Dublin due to Brexit

“Share to Facebook Share to Twitter Share to Email App Share to LinkedIn Stripe is shifting payment processing for the majority of its European customers to its Irish-regulated entity because of Brexit, the company said on Thursday. The online payments company said processing for all customers outside of the UK and Switzerland will change to […]
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Global

ECB Glitch Reduced Bank Deposits by More Than 400 Billion Euros

“A glitch in the European Central Bank’s system for settling large-value payments by commercial and central banks has resulted in a drop in deposits worth more than 400 billion euros ($473 billions).    The interruption — which occurred on Friday and lasted more than 11 hours — meant large institutions were unable to move their […]
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Global

Europe’s Core Payments Network Disrupted by Technical Malfunction

“The European Central Bank blamed a software defect for a disruption to the region’s main wholesale payment system last week that left banks unable to process transactions and securities trades for almost 11 hours. The outage on Friday paralyzed the ECB’s Target2 payments system, which provides the plumbing that allows money to flow across the […]
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Deals

Nexi is Said to Pursue Nets in New Blockbuster Payments Play

“Nexi SpA is already hunting for its next target after agreeing a milestone payments merger with Italian rival SIA SpA , as consolidation in the sector shows little sign of easing. Milan-based Nexi made a non-binding bid for Denmark’s Nets A/S , people familiar with the matter said, asking not to be identified because the […]
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Domains

Pan-European Instant Payments – Which Scheme Should Banks Choose?

“Domestic instant payments schemes are either live or in progress across the world. In Europe this poses some challenges for the next stage of real-time evolution: cross-border. Even though there is a single pan-EU rulebook “SEPA Inst”, Europe has 34 markets that are either implementing or have successfully implemented domestic schemes, which in turn makes true […]

On The Wires

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Companies

Stripe Launches in Five More European Countries

“Stripe, a global technology company that builds economic infrastructure for the internet, today announced its official launch in the Czech Republic, Romania, Bulgaria, Cyprus, and Malta. Europe is home to some of the largest and fastest-growing online economies in the world. This growth is even increased by the accelerated shift from offline to online that […]