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?? NEWS HIGHLIGHT
Rapyd, a global FinTech company, is expanding its Rapyd Payment Partner Programme, designed to boost revenue growth and collaboration for Referral Partners, consultants, Independent Sales Organisations (ISOs), Payment Facilitators (PayFacs), and Integrated Software Vendors (ISVs) operating in high-opportunity industries such as eCommerce, online gaming, content creator economy, and financial services.
Rapyd explains that these particular industries often face the challenge of finding “a card-acquiring partner committed to long-term business support and ensuring always-on payment operations.”
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? FINTECH HIGHLIGHTS
?? FinTech Revolut Eyes Expansion in Gulf With License Application .
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FINTECH
Griffin announces move to general availability, opens up BaaS platform to UK FinTechs. Griffin enables companies to seamlessly embed banking products like payments , savings, safeguarding and client money accounts, and unlock more revenue opportunities across their value chain.
Liberis to extend Small Business financing to 10 European countries through myPOS partnership. This will enable myPOS to offer revenue-based financing in 10 European countries starting with the UK , providing small businesses with the money they need to fund new projects, address business challenges, and expand at their own pace.
Markel launches FinTechRisk+ policy to offer enhanced cyber coverage and support services for FinTechs. This new policy provides financial services and technology liability , directors and officers (D&O) liability, theft and cyber protection for UK and international FinTech businesses with limits up to USD $20 million.
Enfuce announces European expansion of 2-in-1 debit and credit card with Mastercard. The firm is launching its E2 card in the UK, France and Germany. By offering both debit and credit PANs in one card , E2 further strengthens Enfuce’s track record of delivering cutting-edge products that benefit both card issuers and customers.
Google Wallet debuts digital IDs and enhances commuter features. Starting soon, U.S. users can create digital IDs from their passports for select TSA checkpoints , enhancing domestic travel convenience. The service will also support state-issued IDs and prepaid commuter benefit cards, with plans to add more global transit options.
Mintos completes its launch in Europe amid the boom in passive investment. 2023 and 2024 were years of strong geographical expansion, where Mintos launched its operations in new European markets . To boost growth, it launched its second crowdfunding campaign with Crowdcube in April 2024, raising 3.1 million euros.
PAYMENTS
Stripe-backed FinTech warns of Europe’s over-reliance on US payment systems. Europe should reduce its reliance on US payment systems as the prospect of a Trump presidency increases risks around the critical infrastructure’s resilience , the chief executive of Stripe-backed UK tech group TrueLayer has warned.
Ecommpay launches Ecommpay for Good. The global payments platform has unveiled a new brand identity and inclusivity program , emphasizing accessibility, inclusivity, and sustainability. Its “Ecommpay for Good” initiative supports merchants in enhancing website accessibility, which can boost traffic by 23-24%.
DNA Payments launches Apple Pay Express Checkout for Ecommerce. This will enable merchants to offer Apple Pay at checkout or via the Express option through the Safari browser, ensuring consumers a swift and seamless buying experience. Link here
Wise joins AbbeyCross ABX Platform to bring greater connectivity to global FX payments. By joining the ABX Platform, Wise Platform will give AbbeyCross users access to faster, transparent and low-cost FX payments rates, including emerging markets rates, as well as a more convenient settlement experience.
领英推荐
Volt.io launches VX2, a new stablecoin settlement solution, led by CEO Tom Greenwood, who will transition from his current role as CEO of Volt to lead VX2 as its new CEO, with Volt Co-founder Steffen Vollert stepping up as Interim CEO of Volt. VX2 will operate as a separate entity, majority-owned by Volt and supported by the same core investors.
Mondu teams up with Stripe to deliver BNPL payments to B2B merchants. Through this integration, both companies plan to support B2B merchants and marketplaces to provide Mondu’s flexible invoice payment options directly via their existing Stripe setup, optimising the checkout experience and increasing conversion rates.
European card transactions to fall as A2A payments take off. The number of card transactions in Europe is set to plummet by more than a third over the next three years , driven by the rise of account-to-account payments as ventures such as the EPI's new Wero wallet gain traction, claims a Capgemini report.
Silverflow and Chesapeake Bank partner to deliver advanced payment processing solutions. This collaboration aims to provide Chesapeake Bank's ISO clients with a modern, high-performance, and robust payment processing solution. Read more
REGTECH
iDenfy partners with Bitlocus to secure crypto exchange platform with Biometric ID Verification. iDenfy’s full-stack Know Your Customer (KYC) solution will aim to increase conversions and help Bitlocus maintain a simple and compliant verification flow. Read on
DIGITAL BANKING
NatWest backs Open Property Data initiative to improve homebuying process. This collaboration is part of a broader push to modernize the property market , where the average homebuying journey currently takes around 22 weeks, with less than one per cent of property information available digitally.
Landesbank Baden-Württemberg picks Fenergo. Fenergo’s system was selected to improve compliance processes via automation and enhance operational efficiencies. LBBW says this will strengthen the bank's reputation within the international market .
UniCredit's CEO approached Commerzbank about exploring merger talks, a source with knowledge of the matter said, after Italy's second-largest bank bought a 9% stake in the German lender and signalled it was open to buying more. The raid on Commerzbank by UniCredit CEO has reignited speculation of consolidation in Europe's fragmented bank sector.
CRYPTO
FCA files first criminal charges against operator of crypto ATM network. Olumide Osunkoya, 45, is accused of running crypto ATMs, which processed ￡2.6m in crypto transactions across multiple locations between 29 December 2021 and 8 September 2023 without the required registration .
Stablecoins: making financial services internet-native. Unlike other cryptocurrencies that attempt to serve both as payment mechanisms and securities, stablecoins are designed purely as a means of exchange. Find out more
Swift to develop concrete plans for CBDC and tokenised asset exchange. Swift is moving forward with plans to offer member banks access to emerging digital asset classes and currencies over its network, covering a range of use cases in payments, securities, FX, trade and beyond.
BBVA incorporates USDC, a leading stablecoin, into its crypto asset service in Switzerland. This addition will enable BBVA’s institutional clients to speed up their trading operations by enabling them to transfer value more efficiently with blockchain and secure their stablecoins into BBVA’s vault.
UK Government moves to clarify crypto's legal status. The UK's new Labour government is introducing a bill that will ensure that Bitcoin and other digital assets can be considered personal property, boosting legal protection for owners.
EToro to shut down nearly all crypto trading in settlement with US SEC. The firm also agreed to pay a penalty of $1.5 million to settle charges that it operated as an unregistered broker and unregistered clearing agency in connection with its cryptocurrency offerings.
Blockchain firm Coincover teams up with Netcoins and VirgoCX. The collaboration’s goal is to give client assets the best possible security . The modern security solution from Coincover, tailored particularly for the cryptocurrency business, will help VirgoCX and Netcoins.
PARTNERSHIPS
ConnectID partners with Lendela for secure loan matching. The partnership enhances security and efficiency in loan application processes for Australian users. The addition of Lendela to ConnectID’s ecosystem reinforces its role in providing secure digital identity verification across various sectors.
DONEDEAL
Form3 successfully completes a $60m series C extension, with new investment from British Patient Capital and existing shareholders. This funding will enable Form3 to develop new products and services to help support exponential growth in key markets such as the UK, Europe and the US.
A syndicate of 20 business angels has invested a total of ￡500,000 in a Welsh small business finance assistant powered by Gen AI. Founded in August 2023, Menna.ai helps small business owners to make better financial decisions by combining generative AI with rich real-time data.
B2B BNPL player PastPay secures €12 million Series A. The financing will be spent on investment in product development and the expansion of its digital services and infrastructure for both online and offline transactions.?
MOVERS & SHAKERS
Quant appoints Lenna Russ as Chief Commercial Officer. She will apply her extensive leadership skills, commercial acumen and knowledge of the financial technology landscape to spearhead the company’s commercial operations and support its continued growth.
Primer appoints ex-Amazon, Microsoft leader Alex Mallet as its Chief Technology Officer. This strategic appointment demonstrates the company’s commitment to developing robust and cutting-edge infrastructure for its global customer base.
Tuum appoints Stephen Frame as Head of Compliance and Risk. Stephen brings a wealth of expertise to Tuum as it continues to expand and strengthen its operations in an increasingly complex regulatory environment. More on that here
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