A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

Search Payments News

November 16, 2023

On the wires

August 25, 2023

On the web

August 14, 2023

On the web

Amazon Changes Payout Period

Ecommerce News

"Ecommerce giant Amazon has announced that it will make changes to its payout period. Sellers in the United Kingdom and Europe will have to wait until a week after the delivery of an item to receive their proceeds. The change will come into effect in phases in the upcoming month, until September 6th."

July 5, 2023

On the web

June 30, 2023

On the web

European Parliament Votes to Boost Instant Payments in the EU and EEA, Urging Banks to Comply

Fintech Finance

"Following a significant vote by Members of the European Parliament (MEPs) yesterday evening, measures are being put in place to enhance accessibility to instant payments across the European Union (EU) and the European Economic Area (EEA). This development has prompted a six-month compliance deadline for banks and financial institutions to offer customers instant payments at a cost equal to or lower than standard credit transfers."

June 29, 2023

On the web

June 28, 2023

On the web

Modernising Payment Services and Opening Financial Services Data: New Opportunities for Consumers and Businesses [European Commission]

European Commission

"The European Commission has today put forward proposals to bring payments and the wider financial sector into the digital age. Today's new rules will further improve consumer protection and competition in electronic payments, and will empower consumers to share their data in a secure way so that they can get a wider range of better and cheaper financial products and services."

June 22, 2023

On the web

June 1, 2023

On the wires

Mesh Payments Expands Across Europe, UK, and Asia to Support Global Enterprises with Unified Spend Management in Local Currencies

PR Newswire

"Today Mesh Payments announced expansion of its unified spend management platform to support global multinational businesses operating in Europe, UK, and Asia in local currencies. Mesh now enables companies to operate globally across international entities, issue local cards and settle in local currencies all from one unified platform."

April 28, 2023

On the web

European Payments Initiative to Pilot Digital Wallet for Instant P2P Payments in Germany and France


"The European Payments Initiative (EPI) is to begin piloting a digital wallet that will enable users to make instant person-to-person (P2P) payments in Germany and France as a first step towards rolling out a unified payment system that will support “a comprehensive range of transaction types” across Europe. The news comes as the initiative — which was originally set up with investment from more than 30 banks and acquirers — has also confirmed its planned acquisitions of Belgium-based payment solution iDeal and Luxembourg-based payment solutions provider Payconiq will go ahead subject to confirmation by national and European authorities."

April 25, 2023

On the web

April 3, 2023

On the web

Tranglo Launches Instant SEPA Payout to Europe


"Tranglo today announced the launch of instant SEPA payments to Europe.. It marks the company’s first large-scale expansion in that region and comes amid an influx of cross-border funds in recent years. SEPA facilitates over 43 billion transactions annually, with cross-border payments growing rapidly in the last 10 years. However, cross-border SEPA credit transfers and direct debits accounted only for 3.5% and 4.5% of such transactions in the region, respectively."

March 30, 2023

On the wires

Viva Wallet Launches Pan-European Payment Solution for e-Commerce and Shop-in-Shop Marketplaces

PR Newswire

"The Viva Wallet Marketplace Solution is unique in providing a pan-European payments platform for all marketplaces, active either online or in the physical world, including shop-in-shop business models. Viva Wallet, as a licensed bank and e-money institution, delivers the payment tools necessary to smoothly operate a European marketplace, while totally complying with PSD2 and the new EU DSA and DMA Acts."

March 29, 2023

On the web

European Banking Industry Sets Out a Vision for Digital Euro

European Banking Federation

"In this paper, the European Banking Federation (EBF) – representing the vast majority of the European banking sector – sets forth its initial vision for the digital money ecosystem of the future, where a retail digital euro, a wholesale CBDC and bank issued money tokens would all play a role in enabling innovation, supporting customer needs and ensuring that Europe stays at the forefront of digital finance and the digital economy."

March 22, 2023

On the wires

January 4, 2023

On the web

European Central Bank Calls For Input to Create Digital Euro Scheme Rulebook

Ledger Insights

"The European Central Bank is forming a working group that will consult in the creation of a central bank digital currency (CBDC) rule book for the Digital Euro Scheme. All potential digital euro payments will have to comply with the set of rules created with work on the rulebook commencing in February. In December, the ECB appointed Christian Schäfer to manage the digital euro scheme rulebook. Now it’s looking for individuals to join the Rulebook Development Group that Schäfer chairs, but they must represent a stakeholder association. The relevant stakeholders include banks, payment providers, as well as the users of a potential digital euro such as consumers, retailers, corporates or SME users."

December 20, 2022

On the web

Cash Remains the Most Frequently Used Means of Payment in Stores but Electronic Payments Grow Further, ECB Study Shows

European Central Bank

“Cash is still the most frequently used means of payment at the point of sale, but its share is declining according to the latest study on the payment attitudes of consumers in the euro area, published today by the European Central Bank (ECB). Cash was used for 59% of point-of-sale transactions in 2022, down from 72% in 2019. It is the means of payment most often used for small-value payments in stores and for person-to-person transactions.”

October 3, 2022

On the web

Fluency’s CBDC Technology Meets All Key ECB Foundation Design Aspects for a Digital Euro


“The European Central Bank released on 29th September 2022, their latest progress report on the investigation phase of their digital euro project and elaborates on foundational design features approved by the Governing Council. The report highlights key operational transfer mechanism requirements for the digital euro including:  Online validation by third-parties; Offline functionality (where payee or payer are not connected to the internet) and peer-to-peer validation; Privacy level at least equal to current private sector digital solutions; Compatibility with current regulatory framework.”

June 8, 2022

On the web

Revolut Partners with Tink for European Payments


“Tink, Europe’s leading open banking platform, and Revolut, the global financial super app with more than 18 million customers worldwide, have entered into a strategic partnership for open banking technology.  Tink’s payment initiation services (PIS) technology will allow Revolut users across Europe to seamlessly move money into their Revolut account. PIS enables users to connect to the bank account they want to move money from, and instantaneously authorise and complete the payment without leaving the Revolut app.”

Modulr Launches SEPA Instant Service to Supercharge Real-Time European Business Payments

Fintech Finance

“Modulr, the embedded payments platform, has today announced it has launched its real-time Euro payments service, based on the real-time pan European SEPA Instant scheme, which operates 24/7, settles funds in 10 seconds and presents European businesses with significant competitive opportunities. The new service enables customers to build and launch embedded real-time Euro payment propositions via the Modulr API, allowing them to send and receive payments immediately, under their own or Modulr’s regulated status. By embedding real-time payments directly into their software, businesses in the European market will be able to deliver efficient and competitive payment propositions more easily and quickly than previously possible.”

May 3, 2022

On the web

Join the Digital Euro Front-End Prototyping Exercise (European Central Bank)

European Central Bank

“The digital euro investigation phase is moving forward with an exercise to explore user interface solutions for making payments with digital euro.  The ECB has launched a call for expression of interest for payment service providers, banks and other relevant companies to join an exercise to develop prototype user interfaces. Selected front-end providers will form a pool of providers with which the ECB can collaborate on the development of prototypes that address specific use cases for the payment process.”

April 21, 2022

On the web

Euro Notches Biggest Drop as Global Payment Currency Since 2011


“The euro is being used less often as a global payment currency, posting its biggest percentage-point drop in more than a decade in March, as inflation and the war in Ukraine weigh on its appeal for transactions.  Meanwhile, the U.S. dollar remained in the top spot for a 10th consecutive month, and has dominated global payments for the most part since 2013, according to data from the Society for Worldwide Interbank Financial Telecommunications, or SWIFT.”

March 22, 2022

On the web

EPI abandons plan for Visa and Mastercard rival as member banks quit

Finextra Research

“The European Payments Initiative has given up on its effort to build a rival to Mastercard and Visa in Europe after more than half its members left. Initially backed by 31 major Eurozone banks and acquirers Worldline and Nets, the EPI set itself the goal of building a unified pan-European payment system, offering a card for consumers and merchants across Europe, a digital wallet and P2P payments.”

August 24, 2021

On the wires

Selecta Group and Fiserv to Roll Out Cashless Payments Across Europe

Selecta Group, Europe’s leading route-based self-service retailer offering coffee and convenience food solutions in the workplace and in public spaces, is partnering with Fiserv, Inc. , (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, to commence the enhancement and streamlining of digital payments across its points of sale, meeting consumer demand and boosting operational efficiency as self-service technologies such as vending machines and smart fridges boom in a pandemic-conscious world.”

August 10, 2021

On the web

WordPress Plugin WooCommerce Activates Its Payments Offering in Europe


“Popular WordPress ecommerce plugin WooCommerce has expanded its payment services across four new countries as part of plans to reach more retailers and SMBs worldwide.   Businesses in Spain, Italy, France and Germany will now have access to WooCommerce’s solution, which allows users to manage payments directly from their store’s dashboard. The firm has also added multi-currency support, which lets customers shop in any of the 135 currencies WooCommerce supports. Previously, merchants were required to use a plugin to add further currencies.”

July 12, 2021

On the web

Why Europe Is Building Another Payments Network Even Though It Doesn’t Need One


“Yet despite this surfeit of choices, many of Europe’s largest banks are backing an effort to build a new European-wide payments network that could replace national payments networks and challenge the dominance of Visa and Mastercard across the continent…Previous efforts to create such a pan-European payments network failed. Most recently, one called the Monnet Project collapsed before it ever got off the ground in 2011. This time, the project is likely to at least make it to launch. That’s because the new European Payments Initiative (EPI for short) is as much about politics as it is about business.”

May 25, 2021

On the wires

ACI Worldwide and J.P. Morgan Collaborate to Offer Merchants in Europe Greater Choice of Payment Options

ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions , today announced a collaboration with J.P. Morgan, a global leader across banking, markets and securities services, that will enable merchants in certain European countries to deliver in-store payment acceptance capabilities to their customers. J.P. Morgan has been ranked the top acquirer of web transactions in Europe1 for the sixth consecutive year. Through this collaboration, merchants will have a pre-certified and easy-to-onboard service combining J.P. Morgan’s European acquiring platform with the ACI Omni-Commerce solution to deliver in-store payment acceptance capabilities.”

May 3, 2021

On the web

Europe’s largest banks plan joint attack on US payments giants


“More than 30 of Europe’s largest banks and credit card processors are trying to create a payments giant capable of shattering a US-dominated “oligopoly”. A Brussels-based venture, which currently employs 40 payment experts, has until September to draw up a blueprint for a pan-European payments service that can be used to pay online as well as in stores, to settle bills between individual consumers and to withdraw cash at ATMs. “The idea is to build a European payment champion that can take on PayPal, Mastercard, Visa, Google and Apple,” said Joachim Schmalzl, the chair of the European Payment Initiative.”

March 5, 2021

On the wires

Fidor Solutions Partners With SIA to Launch Instant Payments Service in Europe

“Fidor Solutions, a 100 % subsidiary of Sopra Banking Software, has signed a partnership agreement with SIA, a leading European hi-tech company in payment services and infrastructures, controlled by CDP Equity, to launch its new instant payments service in Germany and in other European countries. Thanks to this agreement, Fidor Solutions is able to allow European financial institutions and their customers to send and receive payments in less than 10 seconds for a maximum amount currently set at 100,000 euros per individual transaction, 24 hours a day, 365 days a year, in line with the SEPA Instant Credit Transfer scheme of the European Payments Council (EPC).”

Payments News

Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.

Glenbrook Payments Boot camp®

Register for the next Glenbrook Payments Boot Camp®

An intensive and comprehensive overview of the payments industry.

Train your Team

Customized, private Payments Boot Camps tailored to meet your team’s unique needs.

OnDemand Modules

Recorded, one-hour videos covering a broad array of payments concepts.

Glenbrook Press

Comprehensive books that detail the systems and innovations shaping the payments industry.