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Mastercard has deployed an application that allows billers to avoid sending invoices to suppliers and other customers, using standards from the U.K.'s national retail payment operator.
The card brand plans to use its network scale in the U.K. to enroll billers and payers for B2B and C2B transactions that are accessible via a mobile app or a corporate billing system. The apps will process "request to pay" messages in place of invoices, with a chat feature allowing parties to communicate during the payment process.
Mastercard is using a framework developed by Pay.UK, an
Regulated
U.K. buy now/pay later firm Zilch has introduced a contactless payment feature for in-store use, enabling purchases to be spread over six weeks.
Zilch uses an open-banking link to Credit Kudos to power decisioning and will issue a card that can be added to a digital wallet, reports
Buy now/pay later lenders have come under
Pilot lands
Citigroup and the Inter-American Development Bank have completed a proof-of-concept project that used a blockchain to send a cross-border payment from Washington, D.C. to a payee in the Dominican Republic.
The funds were deposited in a Citi account, tokenized and transferred via a digital wallet, reports
The IADB hopes to encourage blockchain usage for cross-border payments connected to development in emerging markets. Central banks in Hong Kong, Thailand, China and UAE have conducted a similar test, according to Coindesk.
Remote work
Revolut has tweaked its office policy to allow staff to work in other nations for as many as 60 days per year.
The policy is an offshoot of the fintech's
The "out of nation" perk is a nod to the company's international workforce, and is a way to encourage staff to visit families or colleagues, reports
From the Web
REUTERS | Friday, April 9, 2021
A digital pound must be at the heart of Britain's efforts to strengthen the City of London's global attraction as a financial centre after Brexit, think-tank CityUnited Project said on Friday.
TECHCRUNCH | Friday, April 9, 2021
Corporate catering company Elior has acquired French startup Nestor for an undisclosed amount. Nestor originally started with a simple idea to differentiate itself from food delivery giants, such as Deliveroo, Uber Eats and others.
REUTERS | Thursday, April 8, 2021
Online brokerage Robinhood said on Thursday that 9.5 million users traded cryptocurrency on its platform during the first quarter of 2021, a near six-fold rise from the previous quarter.
More from PaymentsSource
The industry’s most effective relationships come when providers serve as collaborators and an extension of their clients to serve customers and work in tandem to address a range of challenges and grow their businesses together, says Paya's Chris Scappa.
The Silicon Valley payments giant collaborates with incumbent banks. But its plan to launch a single mobile app where consumers will shop, make payments and manage their money is reinforcing long-held industry fears about the threat from Big Tech.
Buy now/pay later giants like Affirm, Afterpay and Klarna have grown substantially during the pandemic as nervous consumers prioritized alternatives to amassing credit card debt. But that trend may soon reverse as lenders crack down on risky borrowers.
Banking and payments technology tester and certifier Fime is working with the government of India to develop the testing infrastructure for a national contactless transportation card and accompanying mobile app.
U.S. consumer borrowing surged in February by the most since late 2017 as a broader reopening of the economy from pandemic restrictions helped spark an increase in credit card balances.
Walmart’s financial technology venture, still shrouded in mystery, now has a possible name: Hazel by Walmart.
The future of mobile payments is the future of retail, and retailers who embrace mobile payment and integrate it with their marketing strategies will gain a competitive advantage within the digitized retail industry.
Forter has joined the Adobe Exchange Partner program, enabling Magento Commerce merchants to reduce false declines and block fraud attempts.
PingPong and Perch want to make it easier for third parties, which are often accumulated into a larger group by acquisition, to sell overseas on Amazon's platform.
At a time when it’s never been more important for small businesses like salons and spas to improve economics, scalability and control, fintech can provide a path to better margins—and better days—ahead, says Boulevard's Biju Nair.
Gift card giant Blackhawk Network has partnered with Bakkt, which offers an app to manage various digital currencies.
Plaid, the fast-growing tech company that gathers customer account data from banks and delivers it to fintechs, seems to be drawing investor interest after its planned sale to Visa fell through. On Wednesday, Plaid announced a $425 million Series D round of funding.
Looking back at the unprecedented events of the past year, policymakers are sure to note the remarkable power of technology, both to do good and to fuel destructive forces.
The fintech is one of several that have drawn capital to eliminate the challenges of international commerce.
Top executives from the 49 companies that earned a spot in this year's ranking of the Best Fintechs to Work For cite the need for nimble shifts in business strategy, leadership style and recruiting tactics among the lessons they took away from the challenges of the coronavirus crisis.
