Despite being hit hard by travel restrictions in 2020, the long-term future for the commercial card sector is bright, with spending forecast to hit new highs by 2022

More than half of commercial card expenditure is on charge cards

European commercial card spending rose by 11% in 2019 to €366 billion and accounted for 8% of the total value of card payments according to RBR’s 19-country Commercial Cards in Europe 2021 study.

What if there was a button to unsubscribe from all your paid subscriptions at once? There is, and a former Mastercard president just invested €4 million in it, as the global Corona pandemic has fueled an explosive “subscription surge.”

SteelEye, the compliance technology and data analytics firm, has been recognised as providing the best trade reconstruction solution at the European TradingTech Insight Awards 2021.

SteelEye won the award due to its ground-breaking Auto-Trade Reconstruction technology. Launched in August 2020, the service uses Artificial Intelligence and Machine Learning to reduce the time it takes financial firms to reconstruct a trade from days to seconds.

Level Financial Technology has secured a revolving credit facility from Triple Point to provide early wage access in a first-of-its-kind ESG deal. 

The interest rate Level pays will reduce by up to a third if users also access budgeting tools available through the app to make positive changes to their personal finances.

42% of financial services businesses want better support and guidance on data security in relation to open banking, according to the latest research by open banking provider YTS.

The survey of financial professionals including banks, lenders and retailers, revealed businesses want better education and training, alongside increased guidance, to help reduce fears around the security risks of open banking adoption. Respondents also stated that they wanted this support to come primarily from regulators.

Today, version 1.7.0 of the reference implementation of the software behind the XRP Ledger (XRPL) was released with key contributions from RippleX aimed at improving the Ledger’s decentralization, security and efficiency. 

Release Highlights: Improvements for Validators, Server Operators

 BSO, the pioneering infrastructure and connectivity provider, has won Best High Performing Network Services at the TradingTech Insight Europe Awards 2021.

KURVE, the UK’s first web-based smart metering solution for heat networks, has joined forces with digital payment expert, PayPoint, to offer customers the facility to top-up pay-as-you-go (PAYG) energy accounts quickly and easily via the customer’s preferred payment method.

Sage, the market leader in cloud business management solutions, has today announced the availability of several new apps which integrate with Sage Business Cloud Accounting.  These are designed to help small construction and trades businesses streamline business processes and navigate new domestic VAT reverse charge legislation that specifically impacts the construction industry. 

Financial super app, Revolut, has announced it is building on its previous partnership with identity data intelligence experts, GBG, as the category leaders work together to tackle the rise of online fraud and promote the safe adoption of digital services through customer onboarding solutions, including Know Your Customer (KYC) and Anti Money Laundering (AML).