Worldpay rolls out Open Banking Hub for account-to-account payments

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Worldpay rolls out Open Banking Hub for account-to-account payments

Worldpay is rolling out a new Open Banking Hub to merchants, enabling users to pay for purchases direct from their bank account, circumventing the need to enter card or account information into a third party site.

Accounts aggregation (AIS) / payment initiation (PIS)


iBanFirst leverages open banking to allow its clients to fund their iBanFirst account by debiting their external bank account, all without ever leaving the iBanFirst platform!

A2A | How Real-Time and Opening Banking May Impact Account to Account Payments


Open Banking has opened the door for third party Payment Initiation Service Providers (PISPs) to initiate payments directly from customers’ bank accounts. This creates new opportunities for instant account-to-account (A2A) payments, which are now being contemplated for online shopping and bricks and mortar purchases. Join this discussion as we explore the opportunities, form factors, challenges, and who wins and who loses in this brave new world of A2A payments.

Highlight “rounding up” payments by pulling transaction history with the US Open Banking APIs


There are many value-added services you can provide once you have access to a customer’s transaction history. One I particularly like is how you can use this data to showcase the power of rounding up transactions and taking the “small change” to save it or maybe donate it to charity. This can be a difficult feature to sell to prospective customers who don’t appreciate how all these small transactions can quickly add up.

I should quickly explain what I mean by Open Banking. Simply put, it allows the owner of a bank account to grant third-party access to that bank account. They can control what accounts can be seen, how long that access can be granted for and for what purpose.

The bank account owner (your customer) feels safe doing this because they are authenticating directly with their bank, using their online banking credentials, confident that the third party won’t see or store them.

The beauty of the US Open Banking API is that it handles the connections to all the banks (10,000+ US connections), provides a secure dialog so the account holder can authenticate, and caches the financial data so when you execute a query it comes back quickly (not having to make a round trip to the bank every time).

In the next video I will show you how to use the US Open Banking API to pull the past 6 months of transactions (and up to 24 months) so you can then apply a rounding up feature to show how much the customer could have saved or donated over that timeframe.

If you haven’t already done so, check out our getting started blog video that will walk you through the steps to create your account, get your sandbox keys and get connected to the US Open Banking APIs here: https://developer.mastercard.com/blog/us_open_banking/

Aiia, a Mastercard company: Delivering open banking that simply works


Aiia, a Mastercard company, works to shape the future of an inclusive digital economy where all businesses and people can live a simpler and more convenient life. Through its European open banking networks, partnerships, and passions, the company seeks to empower choice and security with a single infrastructure of payments and financial data.

The network allows businesses and financial institutions to integrate financial data and to offer account-to-account payments directly in their services to an estimated reach of 337 million European citizens.
Today, Aiia has more than 3.000 connected banks across 18 European markets, handles more than 100 million API requests on a monthly basis and more than 2 million account-to-account payment requests processed on a monthly basis for large banks and e-commerce payment gateways.

By enabling individuals, financial institutions, governments and businesses with open banking Aiia, a Mastercard company, empowers companies from various industries to meet the demands of the modern consumer. All while giving them the freedom to pay without having to press pause.
Learn more: https://www.aiia.eu/

Revolut rolls out consumer loans in Romania

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Revolut rolls out consumer loans in Romania

Revolut has announced that Romanian customers are able to apply for consumer loans in their local currency.

Revolut Business Account Review | Setup, Benefits, Fees & Comparison


This Revolut Business Account review looks closely at the benefits & fees of Revolut Business, and compares other business account providers including Starling, Monese and Wise Business. We also share our experience of using Revolut Business at Monito and the type of companies we feel will benefit from using it.

Sign up for Revolut Business �� https://bit.ly/3g3HBjh

Find out more about Revolut Business �� https://bit.ly/3qRbslb

Monito is an independent comparison platform and publisher. Our product and service reviews — like this one — are produced independently by our employees, and recommendations given are our own.

Chapters
0:00 Intro
0:25 Revolut at a Glance
0:48 Who can open a Revolut Business account?
1:55 What does the Revolut Business account offer?
3:07 Inbound and outbound transfers
5:07 Monito’s experience using Revolut Business
6:25 What are the various account plans?
8:58 Additional fees
9:33 Is a Revolut Business account right for you?
10:25 Revolut Business compared to Starling, Monese & Wise Business

Wise vs Revolut – Who Should YOU Choose? | Review & Comparison


Sign up for Revolut & get 3 months of free Revolut Premium �� https://bit.ly/36SUefP

In this Wise vs Revolut video we’ll be taking a close look at both companies, comparing their various services and fees to help you decide which you should choose. Within this review video we’ve shared the similarities and differences of both companies in order to help you make an informed and wise decision ��

Sign up for Wise �� https://bit.ly/3pu1eGf

Monito is an independent comparison platform and publisher. Our product and service reviews — like this one — are produced independently by our employees, and recommendations given are our own.

Chapters
0:00 Intro
0:25 Revolut and Wise at a glance
1:28 Basic differences
2:39 Fees and costs
4:09 ATM withdrawal fees
5:17 Spending abroad
6:51 Receiving money
7:44 Customer satisfaction
8:49 Negative reviews
9:12 Who should you choose?

Money Myths about Revolut and Loan Applications debunked ��

Revolut: How Digital Banking Alternatives Are Helping Customers Take Back Control


Dear banks, Game Over. Disruptive challenger banks are here to wipe the floor with traditional banks, who have, according to Chad West, head of comms and marketing at challenger bank Revolut, failed to make their offering open and transparent to customers, and failed to give them control over their money. Digital bank alternative Revolut has scaled to 1.8 million customers in three years – and now offers cryptocurrency processing.

ABOUT WIRED SMARTER
Experts and business leaders from the worlds of Energy, Money and Retail gathered at Kings Place, London, for WIRED Smarter on October 9, 2018. Discover some of the fascinating insights from speakers here: http://wired.uk/V29vMg

ABOUT WIRED EVENTS
WIRED events shine a spotlight on the innovators, inventors and entrepreneurs who are changing our world for the better. Explore this channel for videos showing on-stage talks, behind-the-scenes action, exclusive interviews and performances from our roster of events. Join us as we uncover the most relevant, up-and-coming trends and meet the people building the future.

ABOUT WIRED
WIRED brings you the future as it happens – the people, the trends, the big ideas that will change our lives. An award-winning printed monthly and online publication. WIRED is an agenda-setting magazine offering brain food on a wide range of topics, from science, technology and business to pop-culture and politics.

CONNECT WITH WIRED
Web: http://po.st/WiredVideo
Twitter: http://po.st/TwitterWired
Facebook: http://po.st/FacebookWired
Google+: http://po.st/GoogleWired
Instagram: http://po.st/InstagramWired
Magazine: http://po.st/MagazineWired
Newsletter: http://po.st/NewslettersWired

Mastercard rolls out open banking payments tools

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Mastercard rolls out open banking payments tools

Mastercard has unveiled a pair of open banking tools designed to improve predictability and transparency in digital account-to-account payments for merchants.

The future of payments – Paul Stoddart – Mastercard


In this keynote, Mastercard’s President of New Payments Platforms, Paul Stoddart, discusses the future of payments, and real-time payments, and as we see more and more markets implement a real-time payments platform, what the future looks like for digital ID, Blockchain, and other payments innovations.

THE 2021 PAYMENTS CANADA SUMMIT
The SUMMIT is Canada’s premier payments conference. Canada is undergoing a massive transformation in its payments ecosystem. The SUMMIT is the ideal meeting point for the payments community to exchange ideas on the future-state of the payments industry. Canada has a leading role to play in evolving the global payments ecosystem, and The SUMMIT is the place where we will see this transformation in action and the impact it will have on us as a nation, as an industry, and as individuals. Learn more at thesummit.ca.

#ModernPayments #blockchain #RealTimePayments #DigitalID #Mastercard #PayCanSUMMIT

How get started with the US Open Banking APIs


First, I should quickly explain what I mean by Open Banking. Simply put, it allows the owner of a bank account to grant third-party access to that bank account. They can control what accounts can be seen, how long that access can be granted for and for what purpose.

The bank account owner (your customer) feels safe doing this because they are authenticating directly with their bank, using their online banking credentials, confident that the third party won’t see or store them.

The beauty of the US Open Banking API is that it handles the connections to all the banks (10,000+ US connections), provides a secure dialog so the account holder can authenticate, and caches the financial data so when you execute a query it comes back quickly (not having to make a round trip to the bank every time).

So, let’s dive into the video which will walk you through how to get started with the API. It will cover how to register on Mastercard Developers, create a project and add the US Open Banking API to that project, get the API credentials you need to access the API, run the Postman Collection, authenticate with the API, create a Test Customer, allow that customer to connect to their bank and grant access to one or more accounts. It will then show you how to pull that list of accounts back, query transactions, and create test transactions.

It looks like a lot but, as you will see from the video, these steps are fast and intuitive.

Timeline

· 00:00 Introduction
· 00:55 Register on Mastercard Developers
· 01:53 Overview of Open Banking flow
· 03:41 Create a project
· 05:32 Run the Postman Collection
· 08:06 Authenticate
· 09:15 Create a test customer
· 12:05 Connect to the bank account
· 14:55 Refresh customer account data
· 16:05 Query transactions
· 17:30 Create test transactions

Mastercard launches open banking payments tools


#Mastercard has unveiled a pair of open banking tools designed to improve predictability and transparency in digital account-to-account payments for merchants.

Breaking Banks Europe Podcast: Where Does The Money Go? Business Accelerators


In this episode of #BBE, Matthias Kroener leads us in an analysis of the environment given the recent dramatically changed market and asked our experts what their role in this ecosystem is and what decisions can help entrepreneurs survive it. In the current market environment, entrepreneurs may be struggling to find funding opportunities and cash sources. However, as Daniel Twal (ISDI) and Kaan Akın (Hackquarters) experts in the field of entrepreneurship and innovation, explain, there are always opportunities for those willing to fight for their dreams. Despite the current economic climate, which includes COVID-19, the Ukraine war, and an interest rate environment that increases competition for investments, there are still ways for entrepreneurs to secure funding.

Meet the guests:
Kaan Akın – Founder, Hackquarters
Connect: https://www.linkedin.com/in/kaana
hackquarters.co

Daniel Twal – Head of Corporate Innovation, IDSI Accelerator & IMPACT Accelerator
Connect: https://www.linkedin.com/in/danieltwal
accelerator.isdi.education/