Payments round-up: 3 August 2017
Take the pain out of paytech with this brief round-up. Features Seven Bank, BDO Unibank, Earthport, Kotak Mahindra Bank, Payconiq and Digicash Payments.
Japan-based Seven Bank has unveiled an international money transfer service app to the Philippines with BDO Unibank. Seven Bank has already been providing a service through ATMs and the internet, but this addition allows the sending of money “anytime from any place” with a smartphone.
Money can be received at more than 8,000 locations and can also be deposited directly into accounts at more than 30 banks in in the Philippines, including BDO Unibank.
Payments network Earthport is partnering with Kotak Mahindra Bank, a private sector bank in India, to provide cross-border payment capabilities across “select global markets”. According to Earthport, the bank has 1,362 branches spread across 689 locations and 2,173 ATMs in India.
The partnership with Earthport gives the bank cross-border capabilities between India and the US, UK, Europe, Canada and Singapore. Earthport says it provides its clients a single contract, a single technical integration and a single service relationship.
Payment app Payconiq, which is backed by ING and KBC, is moving into Luxembourg by buying Digicash Payments, the company behind mobile product Digicash. According to Payconiq, the Digicash app is used by 25% of Luxembourg’s population – and Payconiq says it aims to further expand services for consumers and online merchants within the first six months of 2018.
Payconiq was founded in 2014 via ING’s innovation lab. It has offices in Amsterdam, Brussels, Hasselt (Belgium) and Luxembourg. Currently, over 35,000 shops are connected to its system in Belgium and roll-out is “imminent” in the Netherlands.
Banking Technology Awards 2017 are now open for entry!
Know any innovative products, inspirational projects, skilled teams or visionary leaders that deserve a special recognition this year? Nominate them for a Banking Technology Award!
Deadline for submitting the nominations is 25 August 2017.
