Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions, announced today that it will begin offering Mastercard’s ‘Pay by Bank app’ to its customers in the UK to pay for goods and services directly from their bank account.

The KYC legacy

KYC can prove difficult for financial institutions of all sizes - it is often a complex operation, across middle and back offices, involving large teams of specialists. However, it can be made simpler, and the way to do this is through the digital transformation.

Colt Technology Services has today announced the appointment of Melanie Halsey as the Executive Vice President (EVP) – Human Resources, reporting to Carl Grivner, Colt’s Chief Executive Officer (CEO) and joining the companies’ Executive Leadership Team.

PrePay Solutions (PPS), subsidiary of Edenred, the global leader in payment solutions for the working world, has supported its partner, digital challenger bank, Monese, to enable the use of Apple Pay on their accounts.

OpenFin, the operating system (OS) of finance, today announced it is now offering early stage Fintech and startup businesses the Enterprise Edition of OpenFin OS at a reduced rate. Levelling the playing field, this initiative will enable early-stage businesses to build their applications on OpenFin’s OS alongside the industry’s biggest players, accelerating innovation and collaboration, the delivery and ultimately adoption of new desktop applications.

Ingenico Group (Euronext: FR0000125346 - ING), the world leader in integrated payment solutions, is supporting OPnGO, the first universal digital parking mobile application, in its development across Europe.

Figures from Accenture estimate that the point-of-sale (POS) finance space represents a $1.8 trillion opportunity for banks, and that’s just in the U.S. There are no two ways about it, retail finance represents an undeniably huge opportunity for banks. But are banks missing a trick by not being agile enough to dominate this landscape? Can they capitalise on this opportunity or will they lose out to the fintech pack who have come in and set the standard when it comes to POS finance?

In many ways, the UK is progressing towards becoming a cashless society. Despite this, there is a range of barriers threatening to undermine the UK’s ability to fully embrace this transition. From a lack of trust in new technology to a sentimental connection to existing payment methods, these barriers must be both identified and overcome if the UK is to operate in the modern climate.

ClearBank has today announced that it has been appointed by TrustPay, the Slovak-based e-commerce payments business, to provide real-time payments services to its European customer base.

Citi Treasury and Trade Solutions has forged a partnership with Vietnam-based intermediary payment service provider Payoo to facilitate last-mile consumer-to-business collections for corporate clients in the country.