Paytech market updates: HSBC, Tink and Payoneer lead in cross-border payments

Monthly updates on the standout tech developments in payments

by | May 19, 2021

On May 19, Deutsche Bank announced its partnership with payments technology provider Silverflow to support the bank’s payments strategy. The bank will use Silverflow’s solutions for its corporate banking customers in Germany and payment service providers (PSPs) across Europe and the US will launch in Autumn 2021.

On May 18, HSBC USA launched a multi-currency wallet for international payments. HSBC Global Wallet uses the bank’s global payments network to allow businesses with international clients and suppliers to send payments as easily as on a domestic level. The wallet is live in the US, UK and Singapore and will launch in other markets next year.

Abu Dhabi Islamic Bank, on May 17, announced it was working with solutions provider FIS to provide instant payments to its customers using FIS’ Open Payment Framework (OPF).

On May 12, payments platform Rimuut announced its partnership with financial services platform Nium to enable seamless international payment services for businesses and freelancers. This will allow Rimuut to leverage Nium’s payout network and gain access to the platform’s global payments infrastructure.

On May 11, open banking platform Tink announced it had partnered with American Express to integrate its open banking technology to improve the onboarding process for new card members. This follows an announcement three days earlier by Tink that it’s working with payments technology provider Tribe to boost its payments proposition across Europe.

Revolut, on May 6, announced customers could make crypto withdrawals and had the option to transfer Bitcoin to their personal wallets outside of the challenger bank’s ecosystem.

Global payment platform Payoneer, on May 4, announced its collaboration with online marketplace eBay to create a more streamlined payment experience for sellers around the world. The partnership will allow greater flexibility managing multi-currency payments and enable sellers to list on multiple international sites.

On April 28, FIS launched RealNet, a cloud-based, software as a service (SaaS) platform that enables account-to-account transactions for businesses, consumers and governments over real-time payment networks. The platform is currently available in the US and will be available in the UK and Europe later this year.

If you’re in paytech and have a recent update the market should know about, email [email protected]

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