Paypal, Transferwise, Worldine, Worldpay and Experian in Cards and Payments
- PayPal is to start issuing debit cards in Europe after negotiating a deal with Visa. Under the new arrangement, PayPal will offer PayPal-branded Visa debit cards which are expected to appeal to small businesses that carry balances in their PayPal account for buying supplies. The deal will also allow PayPal users to access to Visa’s contactless payment points in retailers and shops
- PayPal has signed a deal with Samsung enabling PayPal as a payment method within Samsung Pay. The service will be available in the US first, and will be expanded to other countries in the near future. Samsung Pay will also be accepted as a payment method in apps and online through Braintree
- PayPal has announced partnerships with JPMorgan Chase and a rewards-focussed deal with Citi. The deal with JPMorgan will allow Chase customers to add their cards to PayPal directly from Chase properties, while Chase customers will be able to use their reward points for purchases via PayPal
- Worldine, a France-based payments company, has agreed to acquire Digital River, a Sweden-based online payments provider.
- TransferWise is reportedly in detailed talks with investors about a funding round that could double the $117m (£90m) it has already raised during its six-year history and push its valuation past £1bn. TransferWise chief executive Taavet Hinrikus has announced that he is stepping down. Mr Hinrikus will stay on in a part-time role as chairman and board member. He will be replaced as CEO by his co-founder, Kristo Käärmann
- Worldpay has warned that it would be too expensive to have a dual-listing in London and New York once the £7.7bn takeover by Vantiv is completed. Vantiv plans to delist Worldpay from the London market
- Experian has reported that revenue from its UK consumer business decreased by 19% in Q1 2017. Overall, the company reported total revenue growth of 6% and organic revenue growth of 4%, with its business-to-business services reporting 7% organic growth and good performances across all regions
- Jumio has added eyeball tracking to Netverify’s biometrics capabilities
- Mastercard has entered into an agreement to acquire Brighterion, a software company that specialises in artificial intelligence
- Mastercard has detailed plans to expand its QR-based programs to provide more choice for consumers. In July 2017, the card company will broaden its solutions to offer QR codes that can be scanned by either consumers or merchants under a common set of global specifications
- Competition Appeals Tribunal has thrown out a £14bn class action lawsuit against Mastercard. The former financial ombudsman, Walter Merricks, had claimed that 46m consumers had been overcharged by Mastercard over a 16-year period. The court ruled that the case could not proceed through class action
- Amazon is to introduce a new feature in the US in conjunction with TGI Friday’s to allow customers to use its app to pay for in-store and order-ahead purchases. Customers open the Amazon app, navigate to the ‘Programs & Features’ section and browse through TGI Friday’s menu before placing an order, paying via their Amazon account and picking up the food
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