European Payments Acceptance | Weekly News 21 June

SumUp and Adyen partner for payouts. SumUp will provide more of its users with access to same day settlements. This means that SMEs will receive their funds immediately.
DNA Payments adds Open Banking for POS terminals. Customers can now pay by using their mobile devices and banking apps via a QR code that is shown on the terminal.

Apple shuts down Pay Later feature in US. The company intended to provide a service that enables users to divide purchases into four payments over six weeks, with no interest or fees. The news follows Affirm’s collaboration with Apple Pay, with the two companies planning to allow the latter’s users and clients to leverage BNPL loans from Affirm.
Zilch secures £100 million financing deal arranged by Deutsche Bank. Zilch has amassed over four million customers and now processes more than 10 million monthly payments

Swiss National Bank to expand wCBDC trials for a further 2 years following success. The Helvetia Pilot focusses on tokenized securities settlement on SIX Digital Exchange (SDX) in Swiss franc digital central bank money for financial market participants. The project has successfully demonstrated the efficient and safe settlement of tokenised assets in wCBDC, with SIX and participating institutions issuing seven digital bonds to date, totalling more than CHF 750 million.

NatWest to acquire Sainsbury’s Bank. NatWest is to acquire the retail banking assets and liabilities of the banking arm of UK supermarket chain Sainsbury’s. The bank will acquire approximately £2.5 billion of gross customer assets, comprising £1.4 billion of unsecured personal loans and £1.1 billion of credit cards balances, together with approximately £2.6 billion of customer deposits.
BBVA plans to launch digital bank in Germany. Leveraging existing technology, BBVA aims to keep costs low, a strategy that has proven successful in other markets.

Global transaction value from embedded payments (in-app and online platform-integrated payments) will increase 134% by 2028, up from $1.1 trillion in 2024. A2A payments have become highly prevalent in recent years; facilitated by the availability of one-click checkout options. The reduced cost of A2A payments versus cards for merchants, alongside instant payment processing, enables payments to be added to different eCommerce journeys; driving growth.

Elmore and Green Swan Insurance providers are launching APP Reimbursement Insurance product for qualifying UK banks, Payment Service Providers, E-Money Institutions, and Authorised Payments Institutions.

Vipps MobilePay launches P2P payments between Denmark, Norway and Finland. The new service means that Vipps users in Norway and MobilePay customers in Denmark and Finland can ditch Iban numbers for money transfers between the countries.

Nium partners with Air France and KLM to power closed-loop electronic transactions between airlines and selected travel agents. This process will take place using a private network of trusted UATP authorisation rails and bank transfers to deliver lower costs, simplified reconciliation, and faster settlement.

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