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NUAPAY BRINGS OPEN BANKING TO 190M FRENCH ACCOUNTS

  • Nuapay brings Open Banking payments into Europe following its success in the UK
  • Nuapay is connected with 55 banks, enabling efficient and secure payments from 190 million French bank accounts – an estimated 91.5% of all payers.

 

Open Banking pioneer Nuapay, a Sentenial company, today announces it has extended its Open Banking capabilities to French banks. Nuapay is now connected with 55 banks operating in France, enabling efficient and secure payments from 190 million French bank accounts. Nuapay’s French merchants will now be able to accept instant payments via Open Banking from customers, delivering merchants and consumers the benefit of a fast and secure payment method.

France hosts one of the most dynamic fintech markets in the world, with the region’s POS and ecommerce alone expected to grow to a value of US $988 billion by 2022*. Nuapay’s service integrates banks including Caisses Régionales du Crédit Agricole, Caisse d’Epargne / Banque Populaire, La Banque Postale, Société Générale, BNP Paribas, Crédit Mutuel, LCL, and Crédit Mutuel Arkéa to initiate payments instantly via Open Banking. This means that Nuapay’s merchants, or those connected via its many partnerships with PSPs, can accept and make SCA compliant payments, without being charged the significant fees associated with card schemes.

With 55 banks connected, Nuapay is expected to reach an estimated 91.5% of all French payers. Nuapay’s licensed solution, enables customers to transfer payments directly from their bank account to merchants, who receive funds instantly. The solution can be used online for e-commerce, in-store through QR code payments, and even for in-app ordering – which has become increasingly important for retailers throughout the COVID-19 pandemic.

Nuapay is one of the only European PISPs with a fully inclusive payment solution, a complete “initiate & collect” scope, which supplies merchants with all features expected of a modern payment method: refunds, recurring payments, instalment plans, and full reconciliations. These are all available through one payment hub, enabling corporates to leverage industry leading APIs for seamless integration into a range of platforms and systems.

 

Pierre Delmotte, Business Development Manager, responsible for the European market said: “This is a tremendous opportunity for French merchants looking for a faster, smoother and more cost effective payment solution. Access to our Open Banking platform, through easy to use APIs, will allow ecommerce and POS retailers to save time and resources, as well as broaden their service offerings to include subscriptions, instalment plans and instant refunds.”

Nuapay is currently extending its Open Banking coverage across Germany, Italy, Spain, the Netherlands, Belgium, and Ireland.

 

* Worldpay Global Payments Report, November 2018

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VIBEPAY SETS SIGHTS ON GROWTH WITH INTEGRATION OF MORE UK BANKS AND NEW BUSINESS ACCOUNTS

VibePay is continuing on its ambitious path of growth, with the integration of more UK banks and payment providers via open banking, and a business account function in its newly launched social payments app.

With 24 banks now integrated with the app, including new additions Starling, Capital One and Tesco, VibePay is aiming to boost engagement with its 50,000 users and drive more sign-ups amongst its Gen Z audience.

The addition of business accounts for the first time will open up VibePay to a small business audience and appeal to the many Gen Z-ers who earn money from selling on their social channels or platforms like Depop. This functionality will enable them to make and receive payments with no fees and provide instant access to funds and a transaction dashboard to track their payments.

 

The new app will see further functionality added over the next few weeks including:

  • Vibe.me links, giving all users a personalised payment URL
  • Vibe ID – an ‘online passport’ allowing users to link their bank account and seamlessly transact and interact with brands across the web
  • QR codes, to scan for instant payments
  • Vibe Shop – a new way to buy Vibe merchandise via pay with bank functionality
  • Integration with VibeTickets, allowing its 100,000 users to make payments via VibePay with no fees

 

Luke Massie, founder of VibePay, says“This new app is the culmination of months of work – we’ve taken invaluable feedback from the VibePay community and looked at how we can make the app bigger and better so it’s easier, more fun and an indispensable tool for our users’ lives.

 We’re built for Gen Z by Gen Z which means we’re able to reach this critical audience with a unique solution built on their lives. We can’t wait to roll out the new functionality over the coming weeks and see our community continue to grow. We’ve already got our sights set on the next phase of growth for 2020 and beyond.”

 

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BOARD REPORT HIGHLIGHTS COMPLEX DECISION-MAKING PROCESS ACROSS BANKING AND FINANCE SECTOR

‘The State Of Decision-Making’ report from Board, reveals business decisions made in silos without modern planning tools

A third (33%) of Banking & Finance decision-makers believe decisions made in silos, despite majority (63%) of decisions being implemented worldwide

More than half (57%) of Banking & Finance decision-makers rely on spreadsheets for decision-making despite modern planning tools now available

 

Board, the #1 decision-making platform, has today released ‘The State Of Decision-Making’ report focussing on how UK organisations make their important business decisions.

Based on a survey of 500 senior decision-makers, across industries including, Banking & Financial Services, Consumer Goods, Manufacturing, Pharmaceutical, Professional Services, Retail, and Transport & Logistics,  ‘The State Of Decision-Making’ report from Board shows that today’s business decision-making process is increasingly complex, with multiple departments and seniority levels all responsible for some form of decision-making, leading to a lack of cohesion between units and a waste of business resources.

 

The State Of Decision-Making’ research found that while a clear majority of respondents (63%) working within the banking and finance sector say the important decisions they are responsible for get implemented globally, the decision-making process itself is not joined-up across the business, with one third (33%) also saying that crucial business decisions are made in departmental silos.

 

The research, conducted on behalf of Board International by independent research organisation 3GEM, also asked respondents the tools they use to make decisions and, while almost every action within an organisation today will lead to the creation of new data, it seems many businesses are not using the crucial insights which data can provide to make important decisions.

 

More than half (55%) of respondents in the banking and finance industry said they were making business decisions based on data and insights, but ‘gut feeling’ decisions are still made by up to 44% of companies. What’s more over half (57%) of the sector’s companies still rely on spreadsheets to aid their decision-making, despite more modern and reliable tools now available.

 

“In today’s fast-paced, data rich and evolving business environment, making quick and effective decisions is critical to both compete and survive,” explains Gavin Fallon, Managing Director for UK, Nordics & South Africa at Board International. “Important decisions are being made at any one time across multiple business functions, but all too often, important decision-making is disconnected, modular or fragmented.”

 

The research also asked respondents about the challenges banking and finance decision-makers face at their organisation,  with nearly a third (29%) citing a lack of available data and insights and one quarter (25%) citing the fact there are too many people in the decision-making process as their biggest frustrations. However, industry decision-makers believe that the process can be improved with the introduction of new technology, with the majority (57%) of respondents saying this would make their decision-making better, while 41% also felt increased use of data and insights would help.

 

“Businesses have to plan every day for a far more uncertain future and set themselves up to prepare for change and keep changing against the backdrop of a more volatile and uncertain marketplace than ever,” continues Fallon. “A bad decision can have wide-ranging impact across the whole organisation and no business can afford to waste time and resources on bets that may or may not come off.  As the business environment increases in complexity, the ability to not just react, but predict, in real-time, becomes more important than ever.”

 

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