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NUAPAY ENABLES OPEN BANKING FOR THEIR PERFECT GIFT AND K RING AS CHRISTMAS SHOPPING RAMPS UP ACROSS THE UK

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Nuapay, powered by Sentenial, today announces it has been chosen by two leading Mastercard prepaid providers, Their Perfect Gift and K Wearables, to enable consumers to use Open Banking payments in the lead up to Christmas.

Their Perfect Gift is an “open loop” gift card, which can be used anywhere that accepts Mastercard. Nuapay’s FCA-licenced Open Banking payment service, now integrated with Their Perfect Gift’s online check-out, enables gift-givers to purchase a flexible gift card in a fast and convenient way, without using their credit or debit card.

Developed by K Wearables, K Ring is the world’s first contactless payment ring, powered by Mastercard and accepted at over 40 million retail locations worldwide. K Ring is safe and convenient to use, as it eliminates the need to handle cash or touch a card PIN pad for purchases under £45. The company’s partnership with Nuapay means that consumers will now be able to top up their K Wearables prepaid Mastercard using Open Banking payments.

Working with Nuapay, which recently won the Best Online Payment Solution for Merchants at the Payment Awards, brings significant benefits to Their Perfect Gift, and K Wearables.  It enables their customers to pay seamlessly via their mobile app, while providing faster access to cash and reducing processing costs for Their Perfect Gift and K Wearables.

The Open Banking payments are also completed using SCA-compliant authorisation, and without a merchant needing to collect card payment details, thereby reducing the costs of card fraud and chargebacks. This makes it a compelling payment acceptance option for financial service providers of prepaid, credit and e-wallet accounts, and as such the sector is becoming one of the leading adopters of Open Banking payments.

“2020 has seen a strong increase in the use of Open Banking payments. This is partly due to merchants accelerating the adoption of mobile friendly payment methods to respond to the challenges of Covid-19, and partly as consumers’ understanding of and appreciation of the benefits of Open Banking increase” comments Nick Raper, Head of Nuapay UK. “Endorsement from leading prepaid card programmes such as Their Perfect Gift and K Wearables will only serve to further increase Open Banking adoption, particularly as consumers look to purchase flexible gifts that can be spent as the recipient wishes this Christmas.”

Consumer retail experts at Mintel predict that both technology products and gift cards will be popular gifts this year, making this the perfect time for K Ring and Their Perfect Gift to invest in improving their customers’ payment journeys.

 

Thish De Zoysa, Co-founder and CEO of Their Perfect Gift, adds: “We made the decision to partner with Nuapay due to their unmatched Account-to-Account capabilities, ability to streamline our customers’ payment experience, and the quick implementation with our WooCommerce website through the Beam Open Banking plug-in. Open Banking is a rapidly accelerating trend, and we want Their Perfect Gift to be at the forefront of adoption in the prepaid market; giving our customers payment choice and a fast and convenient way to purchase our Mastercard prepaid gift cards.”

 

Philip Campbell, Founder of K Wearables, comments: “A great product is one that is a step ahead of consumer expectations and other offerings, and by enabling our customers to top up their K Rings using Open Banking, we are once again setting a new standard for the payment wearables industry. We select our partners carefully in order to maintain competitive advantage, and Nuapay fits the bill perfectly. By integrating Nuapay’s Account-to-Account solution into our top up process, we are continuing to make payments increasingly seamless and ultimately invisible.”

Nuapay’s PISP processor has a single connection to all major banks in the UK and France and a growing number of connections across Europe, ensuring that Their Perfect Gift and K Wearables customers payments will be supported, no matter where their customers bank.  Nuapay’s Open Banking solution is one of the only Open Banking solutions on the market to provide merchants with a fully inclusive Open Banking solution, including full reconciliation and batch settlements of transactions.

 

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BUSINESS DEVELOPMENT + MARKETING + COMMUNICATIONS

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Volante Technologies Recognized as Market Leader in Omdia Universe: Selecting a Payment Hub, 2021-22 Report

Cloud payments company scores highest mark for solution innovation capabilities and strategy

Volante Technologies, the global leader in cloud payments and financial messaging, has been recognized as a Leader in the Omdia Universe: Selecting a Payment Hub, 2021-22 global survey.

In preparing the report, Omdia, the analyst division of Informa, performed an in-depth review of the market and ranked vendors based on a matrix of key capabilities, attributes, and features. The comprehensive process incorporated in-depth client and vendor interviews, and is designed to help C-level executives, payment heads, and IT directors select the payment hub platform that will enable their payment modernization ambitions.

The report states that Volante has been recommended as a Leader “thanks to its co-innovation capabilities.” It highlights “the speed that the payment hub can be implemented” and “the maturity of Volante’s cloud capabilities” along with its “particularly strong low-code integration layer” as contributors to the ranking. The report concludes, “Volante scored the highest mark for its solution innovation capabilities and strategy / product roadmap.”

Philip Benton, Senior Analyst – Financial Services Technology at Omdia, said: “Volante Technologies earned its place as a recommended leader thanks to a combination of genuine innovation and the provision of services which allow the company to deliver significant payments efficiencies to both small and large institutions.”

John Farrell, SVP Global Product Management at Volante, said: “We are delighted to have been awarded the top ranking of leader by Omdia. This recognition vindicates our strategy of working as a trusted partner to our customers, and helping free them from the limitations of legacy systems through modern cloud-native payments solutions.

“With 75% of our staff in research and development, we intend to continue investing in our products to maintain our leadership position, and continue delivering outstanding results to our customers.”

 

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ARTERIA AI SET TO ACQUIRE H4’S FINANCIAL SERVICES BUSINESS ASSETS

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H4 Chairman and Co-founder Joe Seifert to join Arteria AI as senior advisor

 

Arteria AI, an award-winning global leader in enterprise digital documentation, has agreed to acquire certain financial services assets of H4, an award-winning contract lifecycle management platform.

As part of the agreement, H4’s Chairman and Co-founder Joe Seifert will join Arteria AI’s team as a senior advisor.

Shelby Austin, CEO of Arteria AI, said: “This is a very exciting time for our business as we set out to unleash the power of data to help global financial institutions solve their client documentation challenges at scale. Since spinning out of Deloitte we have continued on an incredible growth journey accelerated by the market’s clear preference for data-first solutions.”

“It is a strategic decision for us to acquire certain financial services assets of H4 to expand our reach and super-charge our efforts. Joe Seifert will bring invaluable experience and expertise to our team.  We look forward to working together to provide an unrivalled, data-first client documentation solution for global financial institutions.”

Joe Seifert said: “Arteria AI and H4 cover most of the top-tier of the financial services market and it made perfect sense to join forces. Having spent time with Shelby and the team, I’m very excited that the combination will support Arteria AI’s position as a leader in digital documentation transformation across the global banking sector.”

Arteria AI works with the world’s largest banks to accelerate their client documentation processes at scale.  From document generation through signature and beyond, Arteria uses context-specific AI, data, analytics and automation to ensure that stakeholders across the bank are able to serve their clients more quickly.  This can be a key factor in driving additional revenue and minimizing risk and cost.

The company’s co-founders Shelby Austin, Abrar Huq and Jonathan Wong have more than 30 years experience within the documentation space and were leaders within the AI community prior to launching Arteria AI in October 2020.

H4 will focus on its offering for the corporate market, outside of global banking. Rob Fagg, CEO, and Andy Byrne, COO, have agreed a management buyout of H4, continuing their roles and becoming co-founders of the new business. Joe Seifert will remain a minority shareholder in H4.

 

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