Payments News

On The Web

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Global

UK Government Embraces Payment Initiation With TrueLayer Appointment

“The UK government has given financial API provider TrueLayer the green light to provide public sector organisations with its Payment Initiation Service (PIS). The firm has been appointed to the government’s Crown Commercial Service’s Payment Acceptance Framework. Any government organisation can now set up with TrueLayer to accept payment via the Payments API.”
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Providers

BBVA Open Platform Helps Firms Move Money in Real-time

“BBVA’s API-powered open banking platform has launched a real-time payments service, powered by Visa Direct, for US companies. Its latest offering takes advantage of Visa Direct to let companies, through a single integration with the platform’s Move Money API, offer their customers frictionless, real-time payments to and from eligible debit cards.”
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Providers

LocalGlobe and TransferWise’s Taavet Hinrikus back ‘frictionless finance’ startup Radix

“Radix , a U.K. startup that’s building a decentralised finance protocol on which new financial apps can connect and be built on top of, has raised $4.1 million in new funding. Backing the company, which counts the Ethereum network and a number of other “DeFi” projects as competitors, is London-based seed-stage VC LocalGlobe and TransferWise […]
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On The Wires

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Providers

FDATA North America Welcomes Four New Members

“The Financial Data and Technology Association (FDATA) of North America today announced it has added four new members, boosting the organization’s roster of member companies and organizations united behind the notion that consumers and small businesses should have full utility over their own financial data.”
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Global

UK Finance Proposes Next Steps for Open Banking

“A future model for how the UK’s world-leading Open Banking (OB) functions can continue and progress once the current implementation phase ends early next year is set out today in a new report, Open Banking – Future State, by UK Finance in association with Accenture. The Competition and Markets Authority (CMA) final OB implementation roadmap is due […]
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Providers

NatWest Launches New Open Banking Payments Service

“Payit™ uses the Open Banking infrastructure to allow customers of UK banks to pay for products and services offered by retailers who use the service, which is targeted at mid to large corporate companies.Open Banking was introduced in 2018 by the CMA to allow licensed financial service providers to share customer data, and NatWest’s use […]
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Companies

Mastercard to Acquire Finicity to Advance Open Banking Strategy

“Mastercard today announced it has entered into an agreement to acquire Finicity, a leading North American provider of real-time access to financial data and insights. The purchase price is US$825 million, and Finicity’s existing shareholders have the potential for an earn-out of up to an additional $160 million, if performance targets are met. The addition […]
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Providers

Bottomline Boosts the Way Businesses Collect Cash With Pay Direct

“Bottomline, a leading provider of financial technology that makes business payments simple, smart and secure, today announced the launch of Pay Direct. This new Open Banking payment initiation service gives companies a more efficient and cost-effective way to receive online payment from customers. With the introduction of Open Banking, innovative financial applications are coming to […]
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Companies

Pay by Bank Account? Worldpay From FIS Enables Instant Payments From Your Bank Account Through Open Banking Hub

FIS® (NYSE: FIS), a global leader in merchant and financial services technology, today announced Open Banking Hub, an innovative new payment solution for its Worldpay merchant clients and their consumers. Merchants who enable this digital bank account payment method in their online stores can allow their consumers to pay for purchases directly from their bank […]