FF News | Fintech Finance’s Post

HSBC UK have entered the Point of Sale finance market by launching Flexipay 💸 💷 ⏱️ Flexipay is designed to help consumers spread the cost of a large purchase into MANAGEABLE payments directly at point of sale and will be available to customers of its merchant partners and will introduce MORE merchants across various different sectors throughout 2025. 🤝 ☀️ HSBC's first Flexipay partnership is with OVO, with their customers the FIRST to benefit from the new flexible finance product when purchasing solar panels for their home. Read more on the link below! 👇 Robert Cox Mark Robson Shahana Musthafa Glenn Copley Narayan Mukundagiri Nicole German Wendy Palmer Jose Carvalho #HSBC #flexipay #pointofsale #flexiblepayments #installmentpayments #merchants #ovo #financing #lending

📉 Lloyds Banking Group Ends Agreement with Satago 📉 💼In a surprising move, Lloyds Banking Group has decided to terminate its commercial agreement with UK-based invoice financing fintech, Satago. This partnership, originally announced in March 2022, was set to revolutionize cash management for Lloyds' UK business customers by leveraging Satago's innovative technology to access cash against invoices. As part of the initial agreement, Lloyds invested GBP 5 million in Satago, securing a 20% equity stake. 🕵️♂️ However, according to a statement from TruFin plc cited by FintechFutures, an internal review led Lloyds to prioritize other platforms, leading to the termination of this partnership. TruFin emphasized that despite the termination, Satago will continue to support its existing business customers. Interestingly, Lloyds did not disclose specific reasons for ending the agreement. 🌐In other developments, Satago has been proactive in expanding its partnerships. In April 2024, Satago collaborated with mmob, an API adaptor, to embed its flexible Invoice Finance and Cash Flow solutions into digital platforms of lenders and corporates. This partnership aimed to simplify digitization and integration for customers, reducing potential challenges faced by development teams. 🚀It's clear that while the partnership with Lloyds has ended, Satago continues to innovate and grow, focusing on providing valuable solutions for small and medium-sized enterprises (SMEs). The fintech landscape remains dynamic, and such changes reflect the ever-evolving priorities and strategies within the industry. #Fintech #LloydsBankingGroup #Satago #InvoiceFinancing #BusinessFinance #FinancialInnovation #DigitalTransformation #Partnerships #BusinessGrowth https://lnkd.in/d8p-3wvg

Today we announce a landmark deal that will put the spotlight on the continued adoption of real-time account-to-account payments in Australia. Waave, Australia’s pioneer of Pay by Bank, has been acquired by Banked :, a leading global Pay by Bank provider. Together our goal is to lead the local market on Pay by Bank and make it a ubiquitous offering across Australia’s payment system. The deal is aligned with the growing demand from merchants for reduced payment fees and the global shift toward real-time payments. This acquisition enhances Banked’s ability to deliver innovative, account-to-account payment solutions across multiple markets, use cases and different account-to-account rails. Waave’s expertise, local team and growing merchant base strengthens Banked’s product offering and supports the continued shift toward real-time payments in Australia and beyond. Ben Zyl, CEO and co-founder of Waave, said: “This is a milestone moment for Pay by Bank in Australia. We share Banked’s commitment to bring payments out of the dark ages and create a globally accessible payments network that is good for everybody. We are immensely proud of what our team has built and look forward to becoming an expanded team alongside Banked to lead payments innovation in this country.” #PayByBank #Payments #OpenBanking #FinTech Mark Connolly Peter Traianou Brad Goodall

Why Payments Innovation Needs to Be Prioritised in the UK Read the full blog: https://lnkd.in/dRZdWpZt #PaymentsInnovation #UK #Finance #Prioritisation #finance #fintech #FinancialIT

Card payments accounted for 75% of transactions and 85% of spending in 2023, but rising fees cost UK retailers £1.64bn last year, hitting smaller businesses the hardest. Insignis Cash highlight the growing relevance of cash management and the role we can play in helping businesses make their cash work harder. Read more about the challenges and opportunities in payment systems in The Fintech Times article below. #CashManagement #Fintech #Payments #BusinessFinance

📢 Today marks an exciting new chapter in the acceptcards® Independent Payment Experts journey. 💷 We’re launching #AcceptCash, utilising Smart Safe technology so businesses can deposit cash into a smart safe and settle to their bank account the very same day. Our cash payments solution responds directly to demand from SMEs for instant, affordable cash deposits to help with cash flow. Especially timely against a backdrop of bank branch closures and a Post Office fighting with growing demand! Who is this service for? Well, we know that businesses with an average monthly revenue of £80,000 would save 73% in cash processing costs via AcceptCash. We expect this to be most of interest to franchisee and enterprise businesses in the retail, convenience and hospitality sectors. However, it’s a tool which we know will help all SMEs with detailed reporting, same-day settlement, accountability, cost savings, efficiencies and much more. We’re pleased to be working with Martin Smith, Strategy & Solutions Director at Cennox to implement and roll-out the new technology in the coming weeks. Ultimately, this service will bring more choice to business owners as well as driving the most efficient and innovative ways of managing cash to make it a more viable payment choice. 🤔 Did you realise that cash is almost double the cost of card payments currently for UK businesses now? This is despite the fact that we know demand for cash is high…hence why we’re wanting to make it a level playing field! Full story over on FF News | Fintech Finance News: https://lnkd.in/ervZ2Jku #Fintech #cashpayments #cardpayments #innovation #financialservices #acceptcards #acceptcash #cashmanagement #paymentsolutions #customerfocused

📢Just Released! CGAP's latest #FinEquity blog spotlights Global Signatory WSBI-ESBG's journey to producing the first data indicators in alignment with the #WEFinanceCode 🔢 In "Cracking the WE Finance Code," the blog explores the challenges and conclusions drawn from WSBI-ESBG's first year of data collection, and reaffirms the efficacy of the Code to redress persistent gaps in FSP's support of #womenentrepreneurs and #WSMEs. Read more 👇

UK Finance develops model clauses for variable recurring payments. UK Finance, in collaboration with law firm Addleshaw Goddard, has released a comprehensive report on Variable Recurring Payments (VRPs) for commercial applications within the UK. VRPs, a type of payment instruction, empower customers to authorize registered Payment Service Providers (PSPs) to initiate recurring payments from their bank accounts, offering flexibility in timing and amounts. The report outlines essential processes for VRP development and presents model contractual terms to streamline negotiations between account providers and PSPs. Emphasising competition, efficiency, and customer confidence in payment safety and security, these terms aim to standardise the VRP landscape. While voluntary, UK Finance encourages stakeholders in the Open Banking ecosystem to consider adopting these model clauses. Full details and a link to the report can be found here: https://lnkd.in/evKfMATk #VRP #OpenBanking #Fintech

Delivering safe and seamless payments is a priority for Australian businesses, and innovations in real-time payments such as PayID and PayTo are helping to give our customers a competitive edge. In the below article, our General Manager of Payments Alison Chang explains how new technologies are being applied to enhance the payment experience for businesses and consumers alike. Find out more. #realtimepayments #fintech #innovation #paymentinnovation Chris Williams Ethan T. Kim Hughes

++ Paycorp Group Expands into Embedded Business Funding in South Africa and UK ++ Paycorp, a leading payment solutions provider with over two decades of experience, is expanding its offerings to include embedded business funding in South Africa and the UK. This move signifies Paycorp’s continuous innovation in shaping the future of payments across its operating regions. "We’re delighted to partner with payment platforms, enhancing their merchant offering and increasing loyalty with turnover-based business funding. Eligible customers can get truly pre-approved, frictionless funding at the click of a button, eliminating rejection anxiety and empowering businesses to capitalise on growth opportunities amid challenging economic circumstances." - Jonathan Field, Managing Director, Recap "Paycorp’s technology platform is the backbone of our payment ecosystem, enabling low-cost global transaction processing from our South African hub. Paycorp has evolved from a South African ATM business into an international payments provider, seamlessly moving into multiple payment verticals and geographies and is a partner of choice for businesses to elevate their payment capabilities and expand globally." - Steven Kark, co-founder and CEO, Paycorp #techafricanews #africa #fintech #technology #payment #ecosystem #payment #verticals #business #innovation #growth