Nium Expands Instant Payment Services to Australia

?? NEWS HIGHLIGHT

• Prosus to Acquire JET in a €4.1B Equity Deal.

The takeover of the Dutch meal delivery company must still be approved by shareholders and the relevant authorities. Prosus and Just Eat Takeaways (JET) agreed on a price of 20.30 euros per share, about 7.5 euros above the closing price on Friday and about 50 percent higher than the average price of the share over the past six months.

It is therefore expected that the vast majority of shareholders will approve the acquisition.

The offer from Prosus is entirely in cash, which means that the shareholders who decide to sell their shares to the company will receive cash money in return.

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NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS

?? FINTECH HIGHLIGHTS

?? Flutterwave to list N4.5tr shares on stock exchange.

?? UK WealthTech investments dropped by 59% amid market uncertainties in 2024.

?? Nium Expands Instant Payment Services to Australia.

?? Stripe merchant of record is coming.

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FINTECH

UK e-money FinTech Nvayo Limited enters special administration. “The administrators will carry out an assessment of the safeguarded funds held with Nvayo, and they are responsible for managing customer claims and returning funds to customers, where possible,” the FCA states.

N26 Metal customers will benefit from interest rates directly linked to the ECB rate. This will be valid only for new N26 Metal customers who joined N26 starting on February 19. For existing customers, N26 Instant Savings account interest rates are based on your main N26 plan, for both personal and business accounts.

Crowdcube has reportedly returned to growth in 2024. Crowdcube’s financials for FY2024 revealed: ￡10.1m of annual revenue (+33% YoY), profitable for the entire second half of 2024, delivered just under ￡1m EBITDA in the fourth quarter.

PayQuicker expands instant and seamless clinical trial payouts for EU and UK. This real-time digital payment solution offers secure, compliant, and seamless participant compensation to streamline clinical trial organizers' payout operations, eliminating the need for onsite card issuing.

PAYMENTS

Solidgate introduces Verifi RDR Decision API (beta): Smarter, faster dispute resolution for merchants. This is an innovative dispute resolution tool that helps merchants handle disputes instantly and automatically without manual intervention. This solution is currently in beta, allowing early adopters to experience the benefits of real-time dispute management before full-scale rollout.

Eurowag debuts new Visa Card for fleet management. Once linked to a specific vehicle, the Eurowag Visa card offers contactless, cashless payment capabilities for refreshments and accommodation, while ensuring security against fraud. Customers can also pay for traffic violation fines using the card.

UK government issues ￡49m tender for payment services provider to underpin GOV.UK Pay platform. The move is part of the government’s push for open banking, highlighted in its National Payments Vision, which urged “the FCA and PSR to consider its commitment to developing open banking to drive delivery of seamless account-to-account payments.”

Mastercard wins UK court nod for ￡200m deal to end ￡10b class action claim. The Competition Appeal Tribunal approved the deal rejecting the litigation funder Innsworth Advisors Ltd.’s allegation that the settlement undervalued the claim.

REGTECH

eToro secures MiCA license for crypto offerings in Europe. The company stated that this authorization allows it to operate within Europe’s unified crypto regulatory environment, subject to submitting the relevant notification to each member state. Continue reading

FCA and PSR report on digital wallets. Given the growth, the FCA and PSR engaged extensively with businesses and representative groups to assess the impact of digital wallets, finding significant benefits to consumers through greater convenience, enhanced security measures, and more.

Sumsub launches next-gen ‘eSignature’ QES Verification throughout Europe. The innovative solution is designed to enhance security, compliance, and efficiency in remote user onboarding across the European Union and Norway, fully compliant with all national laws and eIDAS framework regulations.

DIGITAL BANKING

Lanistar hit with second winding-up petition in less than six months. The latest petition application was filed by Accomplish Financial Limited, a payments solution provider working with Lanistar. The new filing follows a previous winding-up petition in September by its London landlord over unpaid rent.

CaixaBank is launching the “Cosmos” plan. The plan proposes to articulate the bank's technological strategy in the upcoming years around four major objectives: enhancing agility and commercial capability, developing new services through innovation and simplification, boosting efficiency, and strengthening its platform with top-tier security.

BNP Paribas' Securities Services Business adopts Broadridge's Global Class Action Solution to help clients identify and act on asset recovery opportunities. This includes a seamless process for identifying, filing, and recovering investment losses, backed by Broadridge's industry expertise.

FinTechOS launches Evolv, bringing advanced AI capabilities to banks and insurers. Evolv enables institutions to leverage the power of Agentic AI, Generative AI, and advanced automation to deliver unique customer experiences, modernize administrative processes, and drive smarter business decisio

CRYPTO

Curve Finance founder raises funds at $50 million token valuation for new project Yield Basis. The project aims to initially help tokenized bitcoin and ether holders earn yield from market making by mitigating impermanent loss, according to a pitch deck obtained by The Block.

PARTNERSHIPS

Nordic FinTechs Two and Avarda team on white-label payments service. Through this collaboration which combines Two’s expertise in BNPL for B2B with Avarda’s leading B2C payment capabilities, businesses across the Nordics, can offer both B2B and B2C payment options within a single, customizable, and branded checkout experience.

Salad Money seeks to make loan repayments simple with NatWest’s Payit. Salad Money customers can link their bank accounts to enable digital loan payments which is supported by Strong Customer Authentication for an added layer of security. Payit provides customers with an additional payment method that allows them to manage their loan repayments.

Aevi and IXOPAY partner to unify global payment systems for merchants. This collaboration addresses the growing complexity merchants face in managing payments across multiple channels, providing a streamlined, flexible solution that helps businesses adapt to an evolving payments landscape.

Planixs partners with Finastra to deliver real-time liquidity solutions for banks. This partnership offers Finastra customers the option to implement Realiti’s real-time capabilities, supporting compliance with the BCBS 248 intraday reporting requirements while delivering significant benefits in cash management, funding efficiency, and liquidity risk management, all in real-time.

Klarna to be rolled out in 600 Euronics stores across UK. The rollout is happening in two stages, starting with Klarna being live on Euronics.co.uk, allowing customers to split their purchases at checkout. Next, it will launch in up to 600 Euronics stores across the UK.

Backbase partners with Siili Solutions. The collaboration is expected to expand the regional resource landscape and provide financial institutions with the possibility to address the demands of the Nordic market with tailored solutions for their customers.

DONEDEAL

Monument Bank in talks to raise ￡???????? ahead of Nasdaq IPO. The British-based lender has already raised about ￡135m from blue-chip investors since it launched in 2019. It has now secured roughly ￡30m of the ￡200m Series C financing it wants to raise during this year.

MOVERS & SHAKERS

Former Revolut UK CEO James Radford takes over the reins at Volopa. Radford will lead the development of the business, alongside a senior management team, which was strengthened in 2023 when Volopa acquired the UK branch of the American Express FX team.