Klarna announces new Loyalty Card feature
Virgin Money enters BNPL market
Amazon launches seller wallet
Plaid and GoCardless launch VRP offering
Truelayer supports instant payments
Gemini customers can buy crypto via Open Banking
Moscow extends Face Pay to transport systems across the city
Klarna announces new Loyalty Card feature
Following the acquisition of Stocard, Klarna has announced a new Loyalty Card feature that allows users to store and access their physical loyalty cards as digital versions in the ‘Digital Cards’ section of the app. UK customers can now pay for any purchase in three, interest-free instalments in the physical stores of participating retailers.
Virgin Money enters BNPL market
Virgin Money to enter BNPL market with Virgin Money Slyce. The new product allows customers to manage all BNPL spending with one easy monthly payment, across 3, 6, 9 or 12 months (3 & 6 with no fee), which contributes to their credit score.
Amazon launches seller wallet
Amazon launches seller wallet for cashing out sales proceeds. The initial launch is available to a select number of small businesses while they continue to refine the tool. Account maintenance is free, but when sellers convert and transfer funds.
Plaid and GoCardless have launched VRP offering
Following the Competition and Markets Authority’s mandate that the UK’s nine largest banks must support sweeping by 31st July 2022, Plaid and GoCardless have launched a Variable Recurring Payments offering. GoCardless and Plaid can now support the automatic transfer of money between two accounts belonging to the same person via open banking (known as sweeping), allowing developers and financial service providers to prepare for VRPs as the deadline approaches.
Truelayer supports instant payments
TrueLayer supports instant payments with WooCommerce plugin. TrueLayer Payments enables ecommerce SMBs to add instant, secure account-to-account payments to their website. Luxury watch retailer BQ Watches is one of the first businesses to implement payments powered by TrueLayer using the plugin.
Gemini customers can buy crypto via Open Banking
Gemini and Plaid have extended their partnership to provide UK customers with the option to buy cryptocurrency through their bank accounts. Customers can place deposits into their Gemini account without having to enter bank details or pay extra fees. In the US, Gemini account holders already use Plaid to verify identity, connect to their bank, and fund their accounts.
Moscow extends Face Pay to transport across the city
Moscow will extend their Face Pay biometric fare payment system to more modes of transport in the city including all MCC stations, river transport and Aeroexpress. 88% of passengers appreciate the advantages of the technology and prefer it to other payment methods, due to no need to carry a bank card (44%), innovativeness (42%), no queuing at ticket stations (38%), speed (37%).
ChatGPT has generated a lot of interest from across the business world, but what about its impact on payments? We hosted a great conversation with Matt Mills, Daniel Cronin and Tom Hay from Featurespace, Integrated Finance and PSE on their views on how it will affect payments industry. We touch on topics ranging from fraud and engineering and operations.
