The Paypers’ Post

"What's next for open banking?" This question emerges each year, and I've even noticed this wording used as a discussion point on the Merchant Payments Ecosystem agenda next week. When a consumer uses a credit or debit card, the process is easy, the user is protected, and the fees sit with the merchant. This is great for the consumer, but less so for merchants. Open Banking is currently the opposite – the user journey takes longer and there aren’t consumer protections in place, but merchants benefit hugely from a cost perspective. Until we’ve reached a place where consumers benefit just as much as merchants, I think widespread adoption for consumer payments will be a challenge.  What do you think? Keen to hear my networks' thoughts.  I look forward to attending the discussion at MPE next week, keen to hear the thoughts of David Parker, Dr. Lea Maria Siering, Dr Michael Salmony, Lena Hackelöer and Katharina Luschnik. If you are attending this session, drop me a message and we can connect. Cashflows #MPE #Fintech #Payments

The market for #financial institutions (#FIs) providing financial services—especially #payments—to #fintech firms and other businesses is expected to grow from US$22 billion in 2020 to US$230 billion by 2025. This Datos Insights Retail #Banking and Payments Fintech Spotlight looks at four #fintech #vendors leveraging #technology to connect with #customers more effectively and offering more choices in how to pay for things. The vendors profiled include Episode Six (E6), Finix, Gr4vy (Gravy), and Vestigo Cards & Payments.

Equals Money Announces Innovative New “Banking-as-a-Service” Product James Simcox, Equals Group Chief Product Officer & Managing Director - International, said: "We are excited to expand our product offerings to include Banking as a Service. This move essentially means businesses can become a banking provider with just a few lines of code – thanks to the infrastructure already put in place by Equals Money. “The development allows us to provide even more value to our clients by offering tailored banking solutions that integrate smoothly into their operations. The success we've seen with our stealth mode clients CASHét and Chorus TM is just the beginning, and we look forward to supporting more businesses with our innovative financial services." https://lnkd.in/ezPdQAqi CASHet Paul Rogers Simon Liddell Money20/20 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews #money2020

Galileo Financial Technologies Expands Buy Now Pay Later Solution to Include Post-Purchase Options for Credit and Debit, what a good idea! This groundbreaking offering empowers banks and fintechs to provide cardholders with fresh post-purchase installment choices using their existing debit or credit card accounts. It's the ultimate solution for banks and credit unions aiming to counter the BNPL fintech competition, especially as these services are branching out to encompass debit card offerings too (check out my comment below regarding Natwest's move to halt BNPL in favor of installments). I mentioned over a year ago (see link in the comments) that banks and credit unions would require a feature for post-transaction installments. Here at Agora (Financial Technologies formerly Agora Services), we're also rolling out this functionality to our esteemed Banks, Credit Unions, and Fintech partners. #bnpl #debitcards #creditcards #neobanks #challengerbanks #creditunions #communitybanks #mobilebanking #corebanking #bankingsolutions #payments #fintechsolutions  #digitaltransformation , #fintech #baas  #embeddedfintech  https://lnkd.in/epUV9Bqy

Trust and security in transactions - it's what's needed and what this partnership delivers!

The cat’s officially out of the bag… and we couldn’t be more excited! We’re excited to share that BlinkPay has now secured commercial agreements with all four of the major banks in Aotearoa—this includes our latest agreement with ANZ! This is a huge milestone that means we’re about to make payments faster, easier, and more direct for merchants and their customers across the country. In just a couple of weeks, we’ll be flipping the switch on our final integrations, and when that happens, any merchant offering Blink PayNow will let customers (who bank with Bank of New Zealand, ASB Bank, Westpac New Zealand or ANZ) pay straight from their bank account to the merchant’s account. Simple, seamless, and secure—just the way payments should be. These agreements aren’t just about getting API access—they’re proof that we’ve met the high standards of New Zealand’s biggest banks and are trusted to deliver. As Open Banking continues to gain momentum, we’re pumped to be leading the charge and bringing more competition and innovation to the financial services landscape here in Aotearoa. Open Banking is here, and BlinkPay is ready to make it work for everyone! https://hubs.li/Q02L-Lzl0

It's encouraging to see HM Treasury's commitment to publish its National Payment Vision (NPV) "as soon as possible later this year". The update also states that the NPV will serve as the government's full response to the Future of Payments Review, which suggests it will take into account the wider recommendations from the initial report when it responds. In our response to the Future of Payments Review, we called for a clear strategy and roadmap for retail payments, with strong backing from public authorities, as well as buy-in from industry. It's important that the NPV builds on the success the FinTech sector has delivered in retail payments, and that the NPV provides the roadmap for continued and future innovation. We'll continue to develop what this should look like with members in the coming months. https://lnkd.in/eqgAqUeM. #payments #futureofpayments #nationalpaymentsvision #fintech

Sionic recognizes the significant opportunities ahead for our Pay-by-Bank Commerce solution and the expectation of wider adoption of real-time payment solutions, in general, which could bring real benefits to both businesses and end-users. https://lnkd.in/eYjZPeRu #PaybyBank #realtimepayments

#Fintech and #payments trends to watch out for in 2024

📣 Trustly, Inc. VP of Banking Partnerships, Eric Foust, spoke with American Banker to discuss Trustly’s new collaboration with Newline™ by Fifth Third. Eric and Newline’s GM, Tom Bianco, talk with John Adams about FedNow and RTP, embedded technology, and what’s next for banking. Key takeaway? A top priority for banks is faster payments. “We’re just scratching the surface of what new payment networks like FedNow and RTP can do.” Read the full article below 👇 https://lnkd.in/edbjZF8q