Weekly Headlines

20th May 2022

Ingenico to support Alipay+

Central Bank of Ireland adopts new consumer protection legislation for BNPL

Square integrates Afterpay

Splitit launches an Instalments-as-a-Service platform

APEXX partners with Global Payments to offer multiple BNPL providers through a single integration

Inditex will charge returns in 30 countries

Uber is launching a new subscription service in the UK and Germany

Volt launches product to encourage shoppers to switch to an open banking payment after choosing to pay with a debit card

FCA to ensure that cash withdrawal and deposit facilities are available in communities across the UK

European Commission seeks market feedback on amendments to the PSD2

 

Ingenico to support Alipay+

Ingenico will allow acquirers, PSPs and ISVs to implement Alipay+ across their merchant networks using Ingenico’s PPaaS (Payments Platform as a Service) cloud-based solution. Alipay+ is a suite of global cross-border digital payments and marketing solutions operated by Ant Group. It supports digital payments methods, including e-wallets, bank apps and BNPL services.

 

Central Bank of Ireland adopts new consumer protection legislation for BNPL

The Central Bank of Ireland is applying new consumer protection legislation to BNPL. The Act introduces an interest rate cap of 23% APR on all credit agreements provided to the consumer.

 

Square integrates Afterpay

Square is rolling out integration from Afterpay to brick and mortar merchants in the United States and Australia. To use Afterpay in-store, buyers simply tap to pay using a mobile wallet loaded with their virtual Afterpay card.
Square will also integrate Afterpay into its CashApp. The Cash App and Afterpay integrations will extend to eCommerce checkout, where Afterpay sellers will now be able to accept Cash App Pay as a form of payment. The move seeks to turn the app into a super app and rival the likes of PayPal.

 

Splitit launches an Instalments-as-a-Service platform

Splitit has launched an Instalments-as-a-Service platform. Splitit’s white-label instalment plugin allows merchants to drive loyalty and promoting brand consistency on their terms. Instead of originating new loans, Splitit taps existing consumer credit on payment cards to simplify the checkout experience embedded into the current payment flow.

 

APEXX partners with Global Payments to offer multiple BNPL providers through a single integration

APEXX Global is partnering with Global Payments to offer multiple BNPL providers through a single access point to their merchants, internationally.

 

Inditex will charge returns in 30 countries

Inditex will charge returns in 30 countries. The €1.95 fee has been already implemented in the Netherlands, with UK, Germany and Belgium to be the next. Customers will not be charged with a fee when they return clothes at brick-and-mortar stores.

 

Uber is launching a new subscription service in the UK and Germany

Uber is launching a new subscription service in the UK and Germany. Uber One gives users discounts on Uber journeys, free delivery on Uber Eats and other perks including higher rated drivers, improved customer service and compensation for late orders. Uber One costs $9.99 per month in the US but European prices have not yet been revealed.

 

 

Volt launches product to encourage shoppers to switch to an open banking payment after choosing to pay with a debit card

Volt has launched Transformer, a new product aimed at customer incentivisation to encourage shoppers to switch to an open banking payment after choosing to pay with a debit card at the checkout. After recognising the banking provider of a specific shopper using clever BIN lookup technology, Volt’s Transformer allows the merchant to prompt the shopper to instead pay in real time from their bank account.

 

FCA to ensure that cash withdrawal and deposit facilities are available in communities across the UK

The FCA is to be granted new powers over the UK’s largest banks and building societies toensure that cash withdrawal and deposit facilities are available in communities across the country.

 

European Commission seeks market feedback on amendments to the PSD

The European Commission is seeking market feedback on open finance rules and amendments to the PSD2 Directive to address the arrival of Big Tech, fintechs and cryptoassets.

 

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Weekly Headlines

PSE Innovation Videos

Codat – Opportunities for Open Finance

In this full length conversation with Yasamin Karimi from Codat we discuss the benefits of Open Finance to acquirers as they seek to onboard new customers and carry out credit checks. Yasmin highlights the emerging opportunities of combining accounting, Open Banking, and commerce platform data to create a rounded view of where a business has been, its current cash position and its order pipeline.

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