Paytech market updates: Visa, Mastercard and TrueLayer boost payments

Monthly updates on the standout tech developments in payments

By Aoife Morgan | 9 February 2021

On January 12 Challenger Revolut launched confirmation of Payee with Modulr as part of its latest anti-fraud security feature. This comes after it announced it had applied to the FCA for a banking licence the day before.

Payments provider Mastercard, on January 18, announced it had joined forces with FrenchSys to enhance and speed up the roll-out of new payment features and innovations across France on. Mastercard’s developments and innovations in payment technology will now be made more readily available and will be easier deployed in line with other European countries.

Fellow payments provider Visa, on January 27, announced a global partnership with TransferWise who plans to expand its debit card programme into new market by using Visa’s Cloud Connect infrastructure. TransferWise is the first to pilot the new platform which aims to simplify global connectivity and speeds time to market for launching in new geographies.

On February 2, Visa introduced VisaNet +AI, a suite of AI-powered services that address long-standing challenges and pain points in the payment’s ecosystem. The AI innovations will enhance predictability, transparency and speed in the payment experience.

Payment solutions provider Plastiq, on January 19,  announced it was the first company to fully integrate Intuit QuickBooks Online into its payment’s platform. This will support businesses with a more automated way to merge payments, bills and invoices with their accounting system.

Fintech TrueLayer, on January 26, launched a new open banking-based payment method PayDirect which allows banks, ecommerce provider, wealthtech and fintech firms to send faster, frictionless, secure, and cost-effective instant payments and withdrawals.

Payments provider Credorax, on February 9, announced it had partnered with online payment facilitator Payrexx to provide quick onboarding and smart acquiring services. This will allow Payrexx to help deliver seamless online payments to its European merchants.

If you’re in paytech and have a recent update the market would like to know about, email aoife.morgan@contentive.com.
 

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