Weekly Headlines

1st April 2022

Adyen to offer embedded finance

19% of people would struggle to cope in a cashless society

Santander launches instant payments from Spain into Brazil

Bank of Italy bans N26 from onboarding new clients

Payment fraud attack rate across fintech ballooned 70%

Temenos and Mastercard seek to accelerate Request to Pay in the UK

PSR to look at how A2A payments could be an alternative to card payments

 

Adyen to offer embedded finance

Adyen is to expand beyond payments with embedded financial products. The white labelled services will include card issuing and multi-currency accounts to allow users to receive payments and initiate pay outs, plus short-term cash advances based on pending payment transactions and instant business loans.

 

19% of people would struggle to cope in a cashless society

According to research by the Royal Society of Arts, 19% of people say they would struggle to cope in a cashless society. Almost half (48%) believe going cashless would be problematic for them and 29% think, while they would cope, it would be a major inconvenience.

 

Santander launches instant payments from Spain into Brazil

Santander has launched instant payments from Spain into Brazil. Through the One Trade solution, Part of PagoNxt’s Trade business unit, Santander’s SME and corporate clients in Spain are now able to make immediate international payments to recipients in Brazil, in Brazilian Real.

 

Bank of Italy bans N26 from onboarding new clients

Bank of Italy has banned N26 from taking on new clients after checks late last year flagged money laundering risks. Italy’s central bank said N26 was also prohibited from offering new products and services, such as cryptoassets, to existing clients.

 

Payment fraud attack rate across fintech ballooned 70%

Sift data reveals that the payment fraud attack rate across fintech grew 70% in 2021 — making it the highest increase across any vertical in Sift’s network. The increase in payment fraud also correlated with massive 121% growth in fintech transaction volumes on Sift’s network year-over-year, making this sector an attractive target for cybercriminals.

 

Temenos and Mastercard seek to accelerate Request to Pay in the UK

Temenos announced a collaboration with Mastercard to help banks to accelerate their introduction of Request to Pay services in the UK.

 

PSR to look at how A2A payments could be an alternative to card payments

In its Annual Plan for 2022/23, the PSR aims to increase competition between different payment systems and will be looking at how account-to-account payments could provide credible alternatives to card payments in retail.

 

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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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