Log inRegister

Latest News

InstaReM, a fintech company that offers faster and cost-effective digital cross-border payment solutions for individuals and businesses across 55+ countries, has announced a partnership with First Data (NYSE: FDC), a global leader in commerce-enabling technology and solutions

The partnership, combining InstaReM’s digital payments and remittance solution with First Data’s debit processing solution, delivers a powerful proposition for businesses like corporates and Fintechs with a need to issue cards to employees, vendors or consumers.

“Our partnership aims to address an ever-increasing problem for businesses that operate globally, which is, how to pay overseas suppliers, service providers and employees in a cost-effective and secure way whilst enabling the recipient to conveniently access the funds in their local currency – instantly.” said Prajit Nanu, co-founder and Chief Executive Officer of InstaReM.

Leveraging First Data’s global presence and robust and flexible technology platform, InstaReM is able to issue cards for a number of use cases, such as travel and expense programs with set limitations, vendor or supplier payments, payroll for employees, and much more. The solution will be launched in Singapore in the next few months with rollout in Europe and Australia expected by the end of the year and then expanding globally.

“With First Data’s First Vision API-enabled technology solution and InstaReM’s ability to issue cards, together we can rapidly bring to market a cost-effective, secure and convenient solution to support multi-currency debit wallets for corporates and consumers,” said Ivo Distelbrink, First Data’s EVP, Head of Asia-Pacific.

Recently, InstaReM joined the global payments technology giant Visa’s Fintech fast-track program, which makes it quicker and easier for Visa’s partners in the Asia Pacific region to build and deliver new commerce experiences on Visa’s payments network. As part of partnership with Visa, the two companies are working together to build new solutions for moving money to and from different countries in fast, convenient ways that provide users with seamless digital payments and money transfer experiences.

The First Data and Visa partnerships allow InstaReM not only to solve the payout problem domestically and internationally, but also enables it to provide an end-to-end solution for enterprise customers and consumers.

UK challenger bank Tandem has launched an interest-paying savings account that uses machine learning to calculate how much customers can put aside.

The 'Safe to save' rule looks at the income and outgoings of customers and works out how much they can save. Within the Tandem app they can then set a saving level using a slider.

The new account, which pays 0.5% interest, also lets customers boost their savings by choosing to round up purchases to the nearest pound. Users can also simply top up the account for free.

Ricky Knox, CEO, Tandem, says: "With Autosavings we’re giving people the ultimate tool to build positive savings habits, earn interest and even absorb the costs associated with paying money into your Tandem account."

Paymerang has partnered with Community Bankers’ Bank to provide its best-in-class electronic payables solution to CBB’s client community banks and their commercial customers.

With Paymerang, community banks will be able to automate their accounts payable disbursements, making them more efficient, secure and profitable.

“We are excited to welcome CBB’s banks to our growing list of clients,” said Paymerang CEO, Nasser Chanda. “Community banks today are facing intensifying competition from larger banks and continued regulatory demands. By outsourcing their AP processing to Paymerang, they can focus on managing their core business and taking care of their customers. By also making Paymerang available to their commercial clients, community banks can compete against larger Fintechs and national banks. It’s a double win.”

This partnership will allow banks and their clients to automate the entire vendor payment process. With the touch of a button, they can automatically pay all invoices. Paymerang makes the payments and handles all the reconciliation, ensuring that payments are processed and paid to the correct accounts. Clients no longer need to print and mail checks or chase uncashed payments. This simple process change allows clients to refocus efforts away from payment processing and reconciliation to more strategic priorities like operational efficiency and financial controls.

“CBB’s mission is to deliver continuous innovation and outstanding value to community bank clients through the economies of scale that we create,” said Billy Beale, President and CEO at CBB. “We are thrilled to bring Paymerang’s world-class ePayables platform to our banks. It’s a game-changer in terms of the operational efficiency and incremental revenue it creates for the banks
and their clients. With growing competition and heightened security risks in the community banking sector, Paymerang is a timely solution. We are already seeing strong interest.”

Paymerang can be implemented in less than 30 days and with less than 15 hours of client time. By implementing Paymerang’s solution, clients gain time-saving convenience, security and additional revenue in the form of cash rewards. Paymerang goes the extra mile to protect payments—securely enrolling suppliers online, encrypting data, storing it and requiring secondary authentication. 

Amazon is breaking out of its own platform, striking a deal with Worldpay to let the acquirer's merchants add Amazon Pay as a checkout option.

Worldpay becomes the first acquirer to enable Amazon Pay for its merchants in the US. Online merchants simply add the option through Worldpay's API.

The partnership helps to take Amazon Pay outside of the ecommerce giant's own ecosystem and into the wider world, tapping into a Worldpay network that processes over 40 billion transactions a year.

Patrick Gauthier, VP, Amazon Pay, says: "Working with Worldpay will make it easier for merchants to grow their business by providing customers with a familiar and trusted experience throughout the shopping journey."

Asif Ramji, chief product and marketing officer, Worldpay, adds: "By teaming up with Amazon, we have an even stronger capacity to enable digital commerce, streamline the checkout experience and drive frictionless payments for our merchants."

Earlier this week Worldpay revealed that it has struck a deal to be acquired by rival FIS for $35 billion.

  1. Midigator introduces solution to fight chargebacks
  2. Instagram to add shopping feature for US shoppers
  3. First Data unveils Authorization Optimization solution for merchants
  4. Store Closures 2019: Another Record Year for Mass Extinction

Page 106 of 4801