Worldline allows instant tap to ride transit for Apple users
Plaid to let go of 20% workforce
Curve secures $1b credit facility
PayPal launches crypto service in Luxembourg
Instant payment transactions to exceed 376 billion by 2027
Axe the Card Tax campaign updates
Wirecard senior executives face court
Worldline allows instant tap to ride transit for apple users
Worldline brings passengers Express Transit for Apple Pay on the TCL (Transports en commun lyonnais) transport network. Passengers tap their iPhone or Apple Watch on the transit readers and go, they don’t need to unlock their iPhone or double-click the side button. In addition, with Power Reserve, passengers can travel and tap to ride for up to five hours after the device runs out of battery.
Plaid to let go of 20% workforce
Plaid to let go of 20% of workforce amounting to around 260 employees. The CEO documents macroeconomic changes and the pace of cost growth outstripping the pace of revenue growth, as the reason for the cuts.
Curve secures $1b credit facility
Curve secures $1 billion credit facility from Credit Suisse to support its instalment transaction product Curve Flex as it scales across the UK, the EU and the United States. The Curve Flex product allows customers to split a transaction they’ve made with Curve into monthly transactions.
PayPal launches crypto service in Luxembourg
PayPal is to expand its cryptocurrency service to Luxembourg in a move that portends a further roll out across the European Union. Once available, eligible customers will be able to buy, sell and hold Bitcoin, Ethereum, Litecoin and Bitcoin Cash in their PayPal accounts via the website or the mobile app. Customers can start by buying as little as €1 of cryptocurrency through PayPal. The move to Luxmbourg follows the introduction of the service two years ago in the US and expansion into the UK last year.
Instant payment transactions to exceed 376 billion by 2027
Research by Juniper Research has found that instant payment transactions will exceed 376 billion globally by 2027; increasing from 97 billion in 2022, a 289% growth. It predicts that an increased roll-out of instant cross-border payment schemes in multiple countries will drive this growth by enabling businesses and consumers to benefit from greater speed and efficiency.
Axe the Card Tax campaign updates
The Axe the Card Tax campaign has called to the UK Treasury and PSR to review the cost of card payments to encourage fintech payment innovation. The campaign calls for the PSR to freeze all transaction fees until investigations are complete, for the PSR to reverse the 400% rise in cross-border interchange fees post-Brexit, for the UK Treasury to initiate its own review of the cost of accepting card payments, and regulation of alternative providers and clarity on the future of open banking.
Wirecard senior executives face court
Wirecard executives face day in court against a charge sheet of 474 pages that will take 5 hours to read out. The case is expected to last more than a year
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.
