Weekly Headlines 23 April 2021

23rd April 2021

Stripe Issuing launches in Europe

HM Treasury and the Bank of England establish a Central Bank Digital Currency Taskforce

Venmo lets users buy, hold and sell cryptocurrency within its app

FCA will launch a regulatory ‘nursery’ for new fintechs

Curve jumps into BNPL

EBA Clearing issues user specifications for new RT1 functionality

NatWest shuns businesses who accept payment in cryptocurrencies

 

Stripe Issuing launches in Europe

Stripe Issuing launches in Europe to enable users to create, manage, and distribute virtual and physical payment cards, giving businesses more control over how they spend their money.

Stripe Issuing has been launched in Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain, and the UK.

 

HM Treasury and the Bank of England establish a Central Bank Digital Currency Taskforce

HM Treasury and the Bank of England have established the Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential UK CBDC.

The purpose of the Taskforce is to ensure a strategic approach to, and to promote close coordination between, the UK authorities as they explore CBDC.

The Government and the Bank of England have not yet made a decision on whether to introduce a CBDC in the UK.

 

Venmo lets users buy, hold and sell cryptocurrency within its app

In the US, Venmo is set to start letting its 70 million users buy, hold and sell cryptocurrency directly within its app.

Users can buy as little as $1 worth of Bitcoin, Ethereum, Litecoin and Bitcoin Cash from within the app using funds from the Venmo app or a linked bank account or debit card.

 

FCA will launch a regulatory ‘nursery’ for new fintechs

The FCA will launch a regulatory ‘nursery’ for new fintechs by the autumn, in a move that will provide enhanced oversight to newly authorised fintech firms.

 

Curve jumps into BNPL

Curve has announced a partnership with Credit Kudos to assessing the affordability and creditworthiness of customers who apply for Curve Credit.

In development since at least last summer when Curve rolled out an internal alpha among its employees, Curve Credit will let customers split payments from any of their cards into instalments spread over three to twelve months.

 

EBA Clearing issues user specifications for new RT1 functionality

EBA Clearing announced today that it has issued user specifications  for new functionality that will help its RT1 Participants manage instant payment flows across the RT1 and TIPS payment systems. RT1 users will be able to leverage their existing set-up with the improved Instructing Party Functionality in order to meet the upcoming reach requirements for the Eurosystem’s TIPS platform and to optimally reap the opportunities the two pan-European infrastructures offer.

 

NatWest shuns businesses who accept payment in cryptocurrencies

NatWest will refuse to serve business customers who accept payment in cryptocurrencies as these were categorised as “high risk”.

 

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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