Fintech, Finance, Technology, Banking Highlights – 4 December 2017

Money app Yolt hits 100,000 UK users in less than six months

Yolt, the money app owned by ING, has reached 100,000 registered app users in less than six months of Open Beta in the UK. Yolt allows users to view their accounts and credit cards in one place. Other features include setting budgets, tagging purchases and comparing the best options for international money transfers.

With the launch of Open Banking just around the corner, Yolt’s rapidly growing user base suggests that consumers aren’t just embracing it but welcoming the impending changes.

Yolt is already demonstrating the benefits of open banking to consumers and is an example of how API integrations work, through a recent link up with challenger Starling Bank.

Frank Jan Risseeuw, CEO, Yolt, said:
“News of our registered app users reaching 100,000 is a fantastic milestone for Yolt and ING and we are really pleased we have reached this number ahead of time. We’ve made it this far with the feedback and suggestions of our brilliant community – with the arrival of open banking in 2018, we’re looking forward to giving our users even more choice and control over their finances.”

Nacha names Bottomline preferred B2B payments partner

Nacha—The Electronic Payments Association announced Bottomline Technologies Paymode-X as a Preferred Partner for Business-to-Business (B2B) Payments.

NACHA Preferred Partners are a select group of providers and innovators that contribute to NACHA’s strategic efforts and the payments ecosystem by removing friction, increasing ease, accessibility and efficiency, or supporting sound risk management and security for ACH payments.

Bottomline Technologies makes complex business payments simple, smart and secure. Its Paymode-X solution is a payment network that helps businesses easily transition from paper to electronic payments, maximizing cost-savings, efficiency and security. It is a complete B2B payment solution, offering integrated virtual card, ACH and check payment processing.

Airwallex joins Railsbank platform

Airwallex, the Australian-based Tencent, Mastercard and Sequoia Capital backed cross border payments company, and Railsbank, the UK-based open-banking and regtech platform, today announced a strategic partnership enabling Airwallex customers to transact in and out of the UK & EU SEPA zones, and Railsbank customers to access the cross-border FX and payments capabilities of Airwallex.

Airwallex customers will be plugged, via Railsbank, into the UK Faster Payments and EU SEPA system to send and receive local payments, drastically reducing the cost of international payments whilst increasing speed and transparency. This enhances Airwallex’s payments capability by adding Europe to the existing service of more than 100 countries out of Australia, China, and Hong Kong.

Airwallex will become Railsbank’s exclusive foreign exchange partner, facilitating cross-border transactions for Railsbank clients with Airwallex’s proprietary payments and FX solution, built for low latency, high volume processing.

 

First Data completes BluePay acquisition

First Data Corporation, announced the successful completion of its acquisition of BluePay Holdings, Inc. from BluePay’s current owners including TA Associates and BluePay management.

BluePay is a provider of technology-enabled payment processing for merchants in the U.S. and Canada and was one of First Data’s largest distribution partners with a strong focus on software-enabled payments and Card-Not-Present transactions. It processes approximately $19 billion of annual sales volume for more than 77,000 merchants and is integrated into more than 450 software platforms. BluePay offers software integration solutions that complement those offered through First Data’s CardConnect business.

“The addition of BluePay’s integrated Card-Not-Present solutions to CardConnect’s cutting-edge ISV product suite affords First Data a unique and comprehensive offering in the high-growth integrated payments space,” said First Data Chairman and CEO, Frank Bisignano. “Importantly, this acquisition will also allow us to enhance our service offerings to our JV alliances and other distribution partners.”

for further information: https://www.bluepay.com/