Receipts’ Post

Will the introduction of digital receipts create value, and if so, for whom? I am looking forward to an engaging discussion on why digital receipts can be an important competitive advantage, and why so many stakeholders are keen to control them. See you at the Finans Norge / Finance Norway conference!

𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺𝘀 𝗮𝗿𝗲 𝗯𝗿𝗲𝘄𝗶𝗻𝗴 𝘂𝗽 𝗮 𝘀𝘁𝗼𝗿𝗺 𝗶𝗻 𝗘𝘂𝗿𝗼𝗽𝗲! 🌍 Last week, we saw a surge in companies securing Electronic Money Institution (EMI) licences, granting them exciting new capabilities. Two ✌️ major payment platforms just scored their EMI licences in Europe, joining a growing trend: ➤ Enfuce secured an EMI licence in the UK, empowering it to offer electronic money services, card issuing, and payment solutions directly to clients. ➤ Volt.io obtained an EMI licence from the Financial Conduct Authority, propelling the evolution of its cash management product, Connect. With virtual accounts issued to merchants, Volt is set to streamline account-to-account payments from their customers. But they're not alone! Other notable players with their recent EMI licence acquisitions: ➊ BVNK went live in Europe after securing its local EMI licence, providing rapid access to the UK and Europe’s payment schemes, including SEPA, SEPA Instant, CHAPS, and Faster Payments. ➋ Navro (formerly Paytrix) received authorisation as an Electronic Money Institution from the Central Bank of Ireland, offering businesses with international aspirations access to Navro’s global payments curation services. Plus, Navro recently secured an EMI licence from the FCA as well. ➌ Payhawk obtained a licensed Electronic Money Institution status in the UK, enabling the direct issuance of electronic money, facilitating digital payments, and providing card issuance and payment solutions to new and existing UK customers. 𝗪𝗮𝗻𝘁 𝘁𝗼 𝘀𝘁𝗮𝘆 𝗮𝗵𝗲𝗮𝗱 𝗼𝗳 𝘁𝗵𝗲 𝗰𝘂𝗿𝘃𝗲 𝗼𝗻 𝘁𝗵𝗲𝘀𝗲 𝘁𝗿𝗲𝗻𝗱𝘀 𝗮𝗻𝗱 𝗺𝗼𝗿𝗲? Subscribe to our weekly Future of Fintech newsletter! We deliver bite-sized fintech news, served like a warm cuppa, perfect for your weekend reading here 👉: https://lnkd.in/ggZdG8xa #fintech #EMI #emoney #license #payments #Europe #UK

Navro (formerly Paytrix) – the pioneering fintech firm formerly known as Paytrix that simplifies global payments for international businesses – today confirms that it has been authorised by the Central Bank of Ireland as an Electronic Money Institution (EMI). Under the terms of the licence, fast-growth businesses with international ambitions can benefit from Navro’s global payments curation services under the protection of European Union regulation. Read more: https://lnkd.in/d5xjPDpy #payments #infrastructure #fintech #finance #FinancialIT

LEI Africa Minerva RegTech Axalio Flutterwave LEI codes and APIs are revolutionizing the fintech industry. The importance of Confirmation of Payee (COP) cannot be understated, yet a recent panel revealed that 31% of the audience was unfamiliar with COP. With the convergence of COP, Verification of Payee (VOP), and instant payments mandates, embracing LEI codes and APIs is more crucial than ever. By providing a standardised approach to entity verification, LEI codes ensure regulatory compliance. Integrating LEI APIs automates KYC procedures, which is essential for COP and VOP requirements. This integration helps fintech platforms swiftly verify the legitimacy of the recipient, reducing the risk of erroneous transfers and enhancing trust among users. Fintech firms that embrace technological solutions like LEI codes and APIs can enhance operational efficiency, build customer trust, and navigate the evolving fintech landscape with ease. Don't fall behind the competition, stay ahead of the game with LEI codes and APIs.

The European Digital Identity Wallet (EDIW) is set to transform the fintech landscape. As part of the eIDAS 2.0 regulation, this EU-wide solution simplifies life for consumers while offering fintech companies significant opportunities for innovation and growth.  https://lnkd.in/gyC3a2K2 How the EDIW can be a game-changer for fintech:  Streamlined Onboarding: Speed up identity verification, reduce costs, and enhance security.  Cross-Border Expansion: Acquire new customers and operate seamlessly across EU member states.  Innovative Products: Integrate identity and payment features to develop cutting-edge financial services.  Instant Payments: Simplify authentication for instant domestic and cross-border transactions.    In collaboration with industry expert Adam Kissane, founder of Nua Léargas, we provide strategic guidance to fintech businesses, helping them navigate the complexities of evolving regulations such as Payment Services Directive 3, Payment Services Regulation, eIDAS 2.0 (European Digital Identity Wallet), the Digital Euro, and more. 

In an increasingly digital world of payments, cash remains an important payment method, and a critical means of payment for many people. Despite the clear trajectory towards cashless payments, regulators are taking steps to ensure people can continue to access cash if they need it. Sweden’s Riksbank has called for an urgent reinforcement of cash as a means of payment in Swedish legislation, whilst the UK’s FCA has set out new rules to maintain access to cash. But how can everyone participate in an online world, no matter the payment method they choose – even cash? Join us at the Payments Innovation Day 2024 to hear fresh perspectives from Paysafe’s Robert Albrecht on the coexistence of cash and digital payments, and innovative solutions that combine the best of both worlds – on- and offline. Don't miss out, book your tickets now ! https://lnkd.in/eieD3BtA Not a member of the Payments Innovation Forum? Register for your tickets today and don't miss out on the early bird offer (Ends 22 March)- https://lnkd.in/eC9WCECi #payments #paymentsinnovation #fintech #paymentsolutions #PaymentsInnovationDay24

The Importance of a resilient digital payment landscape also in Crisis Situations In times of international geopolitical unrest, the risk of hybrid warfare that can cripple a country’s payment infrastructure increases. The Danish National Bank’s latest report on financial sector security highlights the need for a digital payment preparedness plan to ensure that Danes can maintain basic consumption during a crisis. Unlike Sweden and Finland, which do not have a domestic payment card like Dankort, Denmark is better prepared for such scenarios. Dankort fully enables offline payments if the network is down, allowing consumers to purchase up to DKK 20,000 even if the digital payment infrastructure is paralyzed. This offline functionality is also supported by international payment cards like Visa and Mastercard. Modern payment solutions must be secure and robust to counter the risks that can impact society. At Nets, we collaborate closely with the Danish National Bank and other relevant stakeholders to ensure we can swiftly handle challenges and operational incidents. Having a national payment card like Dankort, which works in conjunction with international cards, strengthens our national resilience in times of crisis. Read more in the latest op-ed from Jyllands-Posten Finans. #Dankort #PaymentSolutions #FinancialSecurity #CrisisManagement #Nationalbanken  https://lnkd.in/eBHjczKh

On April 23, we had the privilege of attending the Finextra NextGen Nordics conference at Münchenbryggeriet in Stockholm, Sweden. This annual event brings together key players within the Nordic payments ecosystem for in-depth discussions of the latest trends, challenges, and innovations. In this short article, we elaborate on three main topics and our key findings from the conference: Instant Payments, Confirmation of Payee, and PSD3. https://lnkd.in/eciFjBxQ

Discover the significant impact of the Baltic's regulatory environment on the payments industry, straight from our co-founder Karel Nappus in his latest blog article! Uncover how the Baltics are paving the way for a revolutionary approach to payment solutions. Dive in at: https://lnkd.in/dVHaGeUj #Montonio #Fintech #PaymentsIndustry #BalticInnovation

Let’s put the fun in funding! Payments Europe is pumping out a grand game plan for the next five years to create a payments playground that's open, honest, and as secure as a bank vault. What’s on the agenda? Fair Play: More competition means better choices for everyone. Safety First: Because protecting your cash shouldn't be a part-time job. Working Together: Building a squad that plays nice for a unified payments party. Regulations that Rock: Keeping the innovation train rolling while putting consumers first. This blueprint promises to jazz up the payments scene for both citizens and businesses in Europe. Dive into the world of Finastra Payments Solutions! With us leading the pack in payment tech, you can expect: Smooth Sailing: Quick and easy integration with what you already have. Fortress-Like Security: We’ve got your back against fraud and cyber baddies. Rapid Transactions: Lightning-fast processing to keep up with your pace. Rule-Breaking Compliance: Solutions that stay ahead of the law. Come along and let’s reshape the payments world with innovative solutions that spark growth and efficiency. Explore more at https://okt.to/G6Y9Ky #FinastraPayments #PaymentsSolutions #Innovation #Fintech #DigitalTransformation