PaymentsRSS

FairFX gains e-money licence with takeover of digital banking service for SMEs, Q Money

Tony Quirke, founder of Q Money and new CFO of FairFX

FairFX, a London-based multicurrency payments service, has acquired Q Money and its e-money licence.

Western Union to pay $586m fine for money transfer fraud

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Western Union has admitted turning a blind eye as criminals used its money transfer services to launder money and commit fraud. It has agreed to pay a $586 million fine to the US authorities.

Top fintech stories this week – 20 January 2017

Banking Tech 2

Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Fintech tour Hong Kong: Ayannah triumphs in start-up final

Next Money Fintech Finals 2017, Hong Kong

Philippines-based Ayannah, a provider of financial services to migrants and the unbanked, was the overall start-up winner in the Next Money Fintech Finals 2017 in Hong Kong.

Daimler Financial Services buys PayCash Europe

Daimler Financial Services muscles into the e-payments space

Daimler Financial Services is acquiring e-payments services provider PayCash Europe, based in Luxembourg. This will enable Daimler to launch its own e-payments service under the Mercedes Pay brand.

Rabobank to modernise payments ops with ACI Worldwide

Real-time payments are coming to you

Rabobank is implementing ACI Worldwide’s UP Immediate Payments solution to support SEPA instant payments.

CMA comments on current account switching plans & VocaLink’s takeover by Mastercard

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The Competition and Markets Authority (CMA) in the UK has accepted undertakings from the Bacs payment scheme that commit it to delivering the improvements required by the CMA retail banking market investigation within a year.

Trade group report offers post-Brexit licensing guidance for fintechs

It'll be hard

With last year’s Brexit decision casting uncertainty on UK-based e-money passporting, the Emerging Payments Association (EPA) has released a new report recommending the best options for UK-licensed fintech and financial services companies in danger of losing their European Union passporting rights following the UK’s exit from the EU.

Single point of access to all real-time payments schemes worldwide from ACI

Real-time payments are coming to you

Payments software and services vendor ACI Worldwide says its latest version of UP Immediate Payments provides “single point of access to all immediate payments schemes globally”.

AnaCap to acquire German payments provider Heidelpay

Heidelpay's Mirko Huellemann is "extremely excited" about the acquisition

Private equity firm AnaCap Financial Partners is taking over a controlling stake in Heidelpay, an online payment service provider (PSP) in Germany. Heidelpay’s co-founders and existing management will retain a minority stake in the business.

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