Weekly Headlines

25th March 2022

EPI initiative has abandoned the project to create a card scheme

122% increase in in-store mobile transactions using smartphones in Italy in 2021

NatWest to enter the BNPL sector in the summer

Apple has acquired Credit Kudos

Adobe helps retailers embed augmented reality shopping options into ecommerce platforms

GoCardless launches open banking powered fraud prevention tool

ChargeAfter raises $44 million

UK EV charging to be paid via contactless cards

 

EPI initiative has abandoned the project to create a card scheme

The EPI initiative has abandoned the project to create a card scheme and is refocusing on its second component: the wallet and digital payment. Following the defections of eleven Spanish banks and of Commerzbank and DZ Bank, the ambitions of the thirteen remaining shareholders (compared to at least 31 banks), of which almost half are French, have been revised downwards.

 

122% increase in in-store mobile transactions using smartphones in Italy in 2021

Nexi recorded a 122% increase in in-store mobile transactions using smartphones in Italy in 2021. 86% of this amount, up from 84% in 2020, came from purchases made with card virtualization apps, such as Google Pay, Samsung Pay and Apple Pay. 2021 also saw a major increase in the use of digital collection solutions – 54% of merchant customers of Nexi’s partner banks activated PayByLink, the service that allows them to use email or social media to send their customers a payment link.

 

NatWest to enter the BNPL sector in the summer

NatWest to enter the BNPL sector in the summer with a solution powered by Mastercard.

 

Apple has acquired Credit Kudos

Apple has acquired Credit Kudos in a transaction worth £150m. The startup offers insights and scores on loan applicants drawn from bank data — specifically transaction and loan outcome data — sourced via the UK’s Open Banking framework.

 

Adobe helps retailers embed augmented reality shopping options into ecommerce platforms

Adobe is to help retailers embed augmented reality shopping options into their ecommerce platforms. The new tool allows potential customers to point their phone to a product image on an ecommerce platform and see the item resized to its in-reality dimensions in 3D.

 

GoCardless launches open banking powered fraud prevention tool

GoCardless has launched an open banking powered fraud prevention tool. Verified Mandates is a feature within its global bank pay platform which combines the Account Information Services capabilities of open banking with direct debit to stop fraud before it happens.

 

ChargeAfter raises $44 million

BNPL platform ChargeAfter has raised $44 million in a Series B funding round. The Series B follows a strategic investment and partnership with Visa and takes the company’s total amount raised to date to $60 million. Citi Ventures, Banco Bradesco and MUFG are among the investors.

 

UK EV charging to be paid via contactless cards

Electric vehicle drivers will be able to pay for charge points using contactless cards as part of government plans to simplify the UK’s public charging market.

 

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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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