ACCEPTANCE & PROCESSING

• American Express expands partnership with Worldpay to provide additional payment capabilities for small businesses. The current move follows the strategic approach to advance the company’s abilities in the UK and expand the number of locations where its Cardmembers can spend.
• FIS launches Atelio, a fintech platform designed to facilitate the integration of financial services into various offerings, allowing companies across industries to create financial experiences such as deposit collection, fund transfer, card issuance, invoicing, fraud prevention, cash flow forecasting, and customer behaviour analysis
• Europe-based softPOS provider Softpay has partnered Visit Group to offer tap-to-phone payments for travel and hospitality sector worldwide.

CORPORATE ACTIVITY

• The Spanish Government has rejected BBVA’s merger proposal with Banco Sabadell. “An excessive level of concentration would introduce an additional potential risk to financial stability,” was indicated by the governor of the Bank of Spain.

BNPL

• Klarna launches Pay in 3 service in Slovakia

DIGITAL, RETAIL & ‘Neo’ BANKING

• BaaS market to increase to USD 64.7 billion by 2032
• French payments app Lydia launches mobile bank Sumeria with plans to invest €100 million in the new venture and hire 400 people over the next three years.

ISSUING

• Mastercard and Salesforce partner to launch new integration to help customers speed up the resolution of transaction disputes, and reduce costs associated with resolving them.

REGULATION (UK)

• The Payments Association is pushing back against the UK’s plans to force firms to reimburse scam victims, saying the maximum refund of £415,000 ($520,760) is “simply not proportionate” and could damage smaller fintechs.

SCHEMES

• Visa have launched new product roadmap. The new products and services include Visa Flexible Credentials, which will allow a single card product to toggle between payment methods, enabling users to set parameters or choose whether they use debit, credit, ‘pay-in-four’ with buy now, pay later or pay using rewards points. Tap to Confirm: Easily authenticates identity when shopping online, Tap to Add Card: Enhances security when adding card into a wallet or app, Tap to P2P (person-to-person): Allows money to be sent between family and friends