Paytech market updates: TrueLayer, Afterpay and Intuit lead in integrations

Monthly updates on the standout tech developments in payments

By Aoife Morgan | 19 March 2021

India-based Axis Bank, on March 10, launched Wear ‘N’ Pay, a range of wearable budget-friendly contactless payment devices. The bank partnered with Canada’s Tappy Technologies and France’s Thales to bring customers hands-free payments available exclusively on the Mastercard platform.

On March 9, global payments platform Nium announced its clients are now able to send funds to their business partners located in Ghana, Kenya, South Africa and Tanzania. The partnerships will provide a more streamlined, convenient, and cost-efficient solution for remittance payments into those markets.

Challenger Revolut, on the same day, launched Expenses, a suite of new tools designed to help businesses stay in control of company spending. It announced on February 18, that business customers can use QR codes to take payments.

On March 9, Utrust announced it had integrated with online payment facilitator Payrexx to allow merchants to accept seamless payments with Bitcoin, Ethereum, DASH, Tether and other digital currencies. Merchants who accept the digital currency payments will be able to get paid in their preferred fiat currency.

Fintech TrueLayer, on March 4, announced its latest collaboration with investment and savings platform Wombat. The platform will use TrueLayer’s API to deliver secure and instant deposits into customers’ investment accounts.

On March 3, Intuit QuickBooks announced it picked payments-as-a-service platform Modulr to provide payments infrastructure for the its new QuickBooks Business Account.

On February 24, Afterpay announced its ‘buy now, pay later’ partnership with Stripe, allowing new and existing merchants in the UK, US, Australia and New Zealand to offer customers instalment-based purchases. The service will be made available to Canada soon. Afterpay and Stripe are extending the partnership to web building platform Squarespace.

On the same day, Deutsche Bank and Mastercard announced they were expanding their partnership to jointly develop innovations in digital payments for business clients. This includes digital platforms which allow firms to offer their products to new customer demographics.

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

 

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