European Payments Acceptance | Weekly News 7 June
European Payments Acceptance | Weekly News 7 June
- Shift4 makes a European POS play with the acquisition of Vectron, a German POS and software vendor specialising in restaurants, cafes and bakeries for €85m.
- Visa announced that their tokens have generated over $40 billion in e-commerce revenue for businesses globally since their launch in 2014. Additionally, Visa is exploring generative AI to further transform the consumer experience before checkout.
- eBay will no longer accept American Express cards as a payment option due to “unacceptably high fees” charged by American Express for processing credit card transactions. This change is set to take effect on 17 August, 2024.
- Italian bank Credem has selected Worldline to acquire its merchant payments business. Worldline was up against Nexi, which already partners with Credem.
- PayPal launches PayPal Complete Payments in the Netherlands, enabling small businesses to accept a to accept PayPal payments. It is already live in UK, Canada and other European markets. Payment methods include PayPal, Apple Pay, Google Pay, iDEAL, credit cards, debit cards, and alternative payment methods worldwide.
- Payment infrastructure provider for platforms, Mangopay partners with Spanish businesses Filmo, Kuarere and Webel.
IN OTHER NEWS…
GLOBAL ACCEPTANCE & PROCESSING
- Stripe moves to ‘invite-only’ model in India for new sign-ups. Stripe explained that businesses in India will no longer be able to create new accounts through the company’s website. Instead, they will need to request an invite.
CASH(less)
- The UK is trialling “super-ATMs” that allow people to withdraw and deposit money with multiple banks. The first machine is up and running in Warwickshire.
CORPORATE ACTIVITY
- SRM Europe recently acquired Accourt Payments Specialists, a provider of payments consulting services.
- Fiserv co-leads $16 million seed round in PayFac Forward. Forward is a tech partner that enables SaaS companies to integrate and monetise payments. For Fiserv, the investment matches its ambitions to move deeper into the embedded finance market.
DIGITAL, RETAIL & ‘Neo’ BANKING
- Monzo has reported a full-year pre-tax profit of £15.4 million for the first time. Revenues also more than doubled from £355.6m to £880m and is preparing to expand into the US and Europe.
FRAUD & CYBERSECURITY
- Capital One has partnered with Stripe and Adyen to tackle fraud prevention. They’ve introduced a free, open-source solution called Direct Data Share (DDS). These include leveraging advanced data analytics and machine learning algorithms to detect and prevent fraudulent transactions in real-time, enhancing security measures, and protecting customers’ financial assets.
LITIGATION
- Visa and Mastercard have agreed to pay $197 million to resolve a class action by millions of consumers accusing them of keeping cash access fees high.
OPEN BANKING & PSD2
- emerchantpay has announced a strategic partnership with TrueLayer. Through this alliance, emerchantpay will offer payments by bank transfer as an online checkout option for merchants across the UK and Europe.
- Vyne partners with Keyloop to enable automotive dealers and their customers to pay and get paid with an alternative and optimised payment method powered by Open Banking.
- Token.io launches hosted pages for enhanced Pay by Bank experiences, in partnership with Prommt. PSPs, banks and merchants can leverage Token.io’s white label ‘Hosted Pages’ to quickly and easily launch their own custom branded Pay by Bank capabilities
REGULATION (EU)
- The EBA publishes three regulatory products under the MiCA, on governance, conflicts of interest and renumeration. These products are part of the EBA’s ongoing efforts to foster a transparent, secure, and well-regulated crypto-assets market.
