ACCEPTANCE & PROCESSING

• M&S and HSBC UK agree a new seven-year deal. M&S Club reward members will be able to earn extra loyalty points, treat vouchers, and more under the scheme, for a fee. The new agreement will bring together rewards, Sparks, digital payments and credit to create an easier to access and more personalised in-app experience for customers.
• Viva.com and Bancomat form partnership to allow Italian merchants to accept PagoBANCOMAT.

BNPL

• Hokodo secures new €100 million debt facility from Viola Credit. The debt facility aims to support roll-out and expansion of embedded Pay Later and Pay Now offerings for B2B merchants and marketplaces.
• Danish BNPL provider Viabill reports record profits. The company reported net profits of EUR 5.4 million, based on a group turnover of EUR 22.2 million for 22/23 fiscal year.

CASH(less)

•  Post Office offers cash deposits from Monzo customers across all of the Post Office’s facilities in the UK.

DIGITAL & eCOMMERCE

• By 2028, subscription economy revenue will reach $996 billion, up from $593 billion in 2024; a substantial rise of 68%, according to Juniper Research. This growth will stem from the proliferation of subscriptions into a broader range of segments, such as Mobility-as-a-Service, physical goods boxes, and delivery services.

DIGITAL, RETAIL & ‘Neo’ BANKING

• Revolut to become a bank in Mexico after gaining approval from Mexico’s National Banking and Securities Commission (CNBV)

EPC/SEPA

• EBA Clearing will roll out Verification of Payee by the end of the year.

FRAUD & CYBERSECURITY

• Lloyds warns against holiday fraudsters. Holiday purchase scams have risen 7% in the last year, with victims losing £765 on average. People between the ages of 35-44 are most likely to fall for these scams, making up over a quarter of victims (27%). Scammers often exist on Facebook and Facebook Marketplace, where 49% of holiday scams begin. Even legitimate booking sites, such as Booking.com and Airbnb have been used to lure people into scams.

OPEN BANKING & PSD2

• GoCardless expands its partnership with Sage. The collaboration aims to open up new markets and segments for GoCardless while making bank payments more accessible to businesses within Sage’s customer base through integrations with accounting and Sage Intacct.