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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.
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September 6, 2024
On the web
ECB to Challenge American, Chinese Payment Systems With Digital Euro
Crypto News
"The European Central Bank is gearing up to challenge international payment giants by introducing its digital currency to strengthen Europe’s economic sovereignty."
September 4, 2024
On the web
CTS Eventim Adds Tink’s User-Friendly Pay by Bank Service to Its Checkout Options
Tink
"Harnessing Tink’s expansive pan-European network, Pay by Bank is now a checkout option for CTS EVENTIM customers across Austria, Germany, the Netherlands, Poland and the United Kingdom – with ambitions to expand into more markets throughout 2024."
September 3, 2024
On the web
Polish Mobile Payment System Blik Expands Abroad
Notes From Poland
"Polish mobile payment system BLIK, which is used by millions of people in its homeland, has moved forward with its international expansion after becoming available to customers of one of Slovakia’s largest banks. BLIK also has plans to expand to Romania."
June 12, 2024
On the web
XTransfer and Banking Circle Announce Strategic Partnership
Banking Circle
"XTransfer, the leading B2B cross-border payment platform from China, and Banking Circle have entered into a strategic partnership. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer’s clients, particularly benefiting Chinese suppliers with significant markets in Europe and the Middle East."
June 4, 2024
On the wires
Boku Connects Poland’s 16.3m BLIK Users Into Google With New Payment Relationship
Business Wire
Boku Inc., the global network for localized payment solutions announced that it now supports BLIK, the instant payment system in Poland, as a payment method for Google Play Store.
May 28, 2024
On the web
European Payments Council Seeks Industry Feedback on the Draft Third Release of the "Mobile Initiated SEPA (Instant) Credit Transfer Interoperability Guidance"
European Payments Council
"The European Payments Council (EPC) multi-stakeholder group on mobile-initiated SEPA (instant) credit transfers (MSCTs) has prepared the draft for the third release of the "Mobile Initiated SEPA (Instant) Credit Transfer Interoperability Guidance"."
May 20, 2024
On the web
Move Over, Armani: Italy’s It Wallet Is the Digital ID Accessory of the Season
Biometric Update
"Bravo to Italy for the forthcoming launch of its digital wallet scheme, clearing the path for a national digital identity program. Reports say the so-called It Wallet will roll out in January 2025, aligned with the framework of the European digital identity wallet (EUDI) and activated through Italy’s electronic identity card (CIE) or SPID digital identity system."
May 8, 2024
On the wires
Rome Becomes the First European City to Offer Open Loop Transit Payments to UnionPay Cardholders
PR Newswire
"Rome is the first city in Europe to offer contactless payment service to cardmembers boarding public transport by simply tapping with a contactless payment card or mobile phone on turnstiles or authorized readers from UnionPay available through Nexi."
May 6, 2024
On the web
China’s Ant Group Doubles Down on Global Expansion With Cross-Border Payments Offering Alipay+
CNBC
"Ant Group is looking to expand into the payments markets of Europe, Middle East and Latin America with its Alipay+ offering."
March 28, 2024
On the web
European Banks Believe EU SEPA Instant Timelines Are Unrealistic
The Global Treasurer
"New research has revealed that 58% of European banks that do not currently offer instant payments believe the timelines set out by the EU in the new SEPA Instant payments legislation are unrealistic."
February 8, 2024
On the web
Ensuring Euro Money Transfers Arrive Within Ten Seconds
Europa
The new regulation aims to make sure that retail clients and businesses, especially SMEs, will not have to wait for their money, as well as to enhance the safety of transfers. Banks and other payment service providers (PSPs) will have to ensure credit transfers are affordable and immediately processed.
February 5, 2024
On the web
OKTO and Modulus Forge Key Partnership to Enhance Digital Payments
Contxto
"Expanding in Europe and Latin America, the collaboration aims to revolutionize gaming experiences with secure, rapid transactions."
February 1, 2024
On the web
Volt and Bumper Partner to Bring Open Banking to Major Car Dealerships in the UK and Europe
Volt
"Volt, the global real-time payments platform, announces its partnership with Bumper, a payment platform for car dealerships, to harness the power of open banking and real-time payments so that consumers can pay for vehicle deposits, repairs, parts, services and even purchase vehicles outright."
January 4, 2024
On the web
Europe’s Payment System’s Big Bang: Inside the ISO 20022 Migration
International Banker
"Rolling out a new common language for global payment data is no small feat. However, the transition is gathering momentum, with one domestic payment system after another converting to ISO 20022 (a standard for financial-information interchange between financial institutions developed by ISO, the International Organization for Standardization) over the past two years, including in countries such as Singapore"
December 18, 2023
On the web
Ukraine’s National Bank Initiates Process to Join Euro Sepa Payment System in 2024
Yahoo News
"Ukraine’s National Bank (NBU) plans to kickstart Ukraine’s accession to the Single Euro Payments Area (SEPA) in 2024, chairman Andriy Pyshnyi wrote on Facebook."
November 16, 2023
On the wires
Intrum: Millions to Lose Sight of Spending as Monthly Subscriptions and Payment Deferrals Pile Pressure on Household Finances
PR Newswire
"Millions of consumers across Europe are losing sight of their monthly spending and household outgoings, as almost half (45%) of consumers admit to being taken by surprise by how much their subscription fees build up without them realising."
August 25, 2023
On the web
European Central Bank Must Gauge Digital Euro Impact on Banks Before Launch
Yahoo Finance
"The European Central Bank needs to measure the impact of the digital euro on the euro zone's banking system before any final decision on its potential launch, Spain's deputy central bank governor Margarita Delgado said on Friday."
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
YowPay Launches First Instant SEPA Credit Transfer Solution for European Merchants
Electronic Payments International
"YowPay’s solution generates a unique QR code for each transaction, allowing customers to pay faster and more easily. The buyer then scans the QR code from their mobile banking application and confirms the payment."
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
Payment Services: Revised Rules to Improve Consumer Protection and Competition in Electronic Payments [PSD3]
European Commission
"... What are the main changes being proposed by this revision? These amendments represent an evolution not a revolution of the EU payments framework. The amendments will improve the functioning of EU payment markets by:..."
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
J.P. Morgan to Take Majority Stake in Viva Wallet
J.P. Morgan
J.P. Morgan announced today that it has entered into an agreement with Viva Wallet, a cloud-based payments fintech company, to acquire controlling interest of approximately 80 percent in the company, subject to regulatory approvals.
CaixaBank and Iberpay Launch Request to Pay in Europe
WebWire
"Iberpay is the first CSM (Clearing & Settlement Mechanism) in Europe to obtain approval certificate from the European Payments Council (EPC) to process transactions based on the SEPA Request-to-Pay scheme for its entities."
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
NFCW
"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
ECB Publishes Progress Report on Digital Euro and Study on Possible Features of a Digital Wallet
European Central Bank
The European Central Bank (ECB) today published the third progress report on the digital euro, as well as the findings of focus groups commissioned by the ECB concerning people’s views on the features of a potential digital wallet.
April 3, 2023
On the web
Tranglo Launches Instant SEPA Payout to Europe
Tranglo
"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."
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