Weekly Headlines 4 June 2021

4th June 2021

EU unveils plans for a bloc-wide digital wallet

Bunq launches local IBANs to tackle foreign IBAN discrimination in SEPA countries

Global Payments announces their soft POS solution

eBay removes PayPal as an option for paying sellers

Klarna takes BNPL to supermarket chain Aldi

Huawei’s enables German, Italian, French, Dutch and British consumers to make NFC payments

Wise expands to India

Banking fraud has grown 159% in Q1 2021

Visa’s digital currency plans

 

EU unveils plans for a bloc-wide digital wallet

The European Union is set to unveil plans for a bloc-wide digital wallet, following requests from member states to find a safe way for citizens to access public and private services online. The app will allow citizens across the EU to securely access a range of private and public services with a single online ID, according to the report. The digital wallet will securely store payment details and passwords and allow citizens from all 27 countries to log onto local government websites or pay utility bills using a single recognised identity.

 

Bunq launches local IBANs to tackle foreign IBAN discrimination in SEPA countries

To tackle IBAN discrimination against foreign IBANs in SEPA countries, and following last month’s launch of German IBANs for users in Germany, from now on Bunq users in France will receive a French IBAN. More local IBANs in select European countries are coming soon.

 

Global Payments announces their soft POS solution

Global Payments announced launching an application that will make it possible to turn a mobile phone into a payment terminal for card payment acceptance. The GP tom application works on all mobile phones with an Android operating system and an NFC chip and phone can be connected to any other device such as a tablet, computer or cash register.

 

eBay removes PayPal as an option for paying sellers

As planned, eBay has removed PayPal as an option for paying sellers. While eBay buyers can still pay with PayPal, sellers will be paid straight into their bank accounts.

 

Klarna takes BNPL to supermarket chain Aldi

Klarna has partnered with Aldi to offer users a purchase on account payment option. Customers can select products at home and receive an email from Klarna with all the relevant payment information after the goods have been shipped. From then on, the customer has 14 days to pay the invoice for their order by bank transfer at no additional cost. If the buyer has a Klarna account, they can also pay the bill via the Klarna app.

 

Huawei’s enables German, Italian, French, Dutch and British consumers to make NFC payments

Huawei’s AppGallery has announced the launch of NFC payments in EuropeStocard as integrated Huawei Mobile Services Core capabilities to its app, thus enabling German, Italian, French, Dutch and British consumers to make NFC payments from their Huawei smartphones.

 

Wise expands to India

Wise has expanded its footprint to India with the launch of foreign exchange service in the country. The new service would enable Wise users in India to transfer money to 44 foreign countries, including the US, Australia, Canada, Singapore, UAE, and the UK.

 

Banking fraud has grown 159% in Q1 2021

Combining all banking fraud – internet, telephone, and branch – attacks have grown 159% in Q1 2021 compared to Q4 2020, according to Feedzai’s Financial Crime Report.

 

Visa’s digital currency plans

Unlike cryptocurrency, Visa sees stablecoins as having the potential to be used by consumers and merchants in the same way as existing fiat currencies are. Here’s a look into Visa’s digital currency plans and the five key digital currency opportunities according to the company. While much of this is focused on the consumer side, Visa also sees significant potential in B2B payments as digital currencies can supplement and compliment some of the existing solutions.

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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