Payments

Payments

Paymentworld Europe upgrades core banking system to Oracle

Malta-based Fintech company, Paymentworld Europe Ltd, has upgraded the software powering several of its payment services to Oracle Flexcube, a market-leading core banking system used by some of the biggest banks around the world.

The new system went live last week with the transition going smoothly without any critical defects. The implementation and training process has taken around a year and involved decommissioning and replacing the company’s previous banking system.

Jens Podewski, co-founder and CEO of Paymentworld Europe Ltd., explained that “this development represents a significant investment from the company that will improve operational efficiency, reduce time to market for upcoming products, and it also greatly expands our Open Banking capabilities. This is a very exciting and important milestone for the company”.

In conjunction with the implementation of Oracle, the company has rebranded its online payment account service, IBAN4U, with a fresh visual identity and website (www.iban4u.com). IBAN4U, now powered by Oracle Flexcube, is a business payment account targeted at companies who want to avoid bureaucratic banks and open an account quickly.

Stefan Haenel, co-founder and CFO, commented that “we launched IBAN4U last year and we are very pleased with how it has been received by our local and European partners. Because of its success, we are doubling-down on our strategy to push this product in the European market. A proven core system like Oracle and a new, modern brand provide us with a great platform to move forward and expand our business substantially”.

About Paymentworld Europe Ltd.

Paymentworld Europe Ltd., founded in 2014, is an electronic money institution licensed by the MFSA. The company’s mission is to enable its customers to quickly and easily initiate and receive payments in whatever form best suits them, wherever they are in the world. The company is registered with SEPA, provides a PCI-certified payment gateway, IBAN accounts, and payments-as-a-service. It is a fast-growing player in the global PayTech industry.

For more information please contact:
email: jromano@paymentworld.eu

Worldnet and Esper Partner on Android Solutions for Contactless & Self-Serve Payments


A Complete Set of Cloud Developer Tools for Android Payment Products

Seattle, WA – Today, Esper and Worldnet announced the global launch of the first complete set of Android payment solutions for independent software vendors (ISVs) and product development teams. Worldnet, a trusted global provider of omni-channel payment solutions, has partnered with Esper’s Android DevOps solution to offer a streamlined pathway to developing, deploying, and managing Android payment products for retail, hospitality, restaurants, and other industries.

“Collectively, Esper and Worldnet offer a complete set of cloud developer tools to speed up product development and streamline payment upgrades to Android device fleets,” says Shiv Sundar, COO of Esper. “Developers can use our connected platforms and cloud APIs to rapidly create custom integrations and programmatic control over payments, devices, apps, and peripheral hardware.”

Both Esper and Worldnet’s cloud tools are created by developers, for developers with open standards and industry-leading ease-of-integration. Together, Worldnet and Esper’s cloud tools can allow developers to unlock a seamless approach to managing Android mobile-point-of-sale (mPoS), kiosks, contactless devices, and more. It’s the first partnership to offer complete control over through a single cloud platform over every aspect of payments, apps, and hardware.
Payment Processing
Merchant Banking
Provisioning & Deployment
Device Management
Hardware & Peripherals

“Individually, Worldnet and Esper each have a remarkable track record of success enabling ISVs and System Integrators (SIs) to streamline integrated product development,” says John Clarke, CEO of Worldnet Payments. “Our Android mobile payments partnership offers a clear pathway for product developers to accelerate self-service and contactless payment innovation and achieve a seamless approach to managing payment devices.”

About Worldnet Payments
Worldnet Payments develops frictionless payments solutions for independent software vendors. The company’s omnichannel platform is used to deliver expert solutions in industries such as unattended retail, transportation, and services. Worldnet’s flexible approach enables businesses to deliver a customized payment experience to their customers, including tailored workflows, branding and centralized reporting and analytics. The highly scalable cloud platform provides an advanced range of EMV-enabled products and services across channels including eCommerce, Mobile, PoS and iPoS.

For more information, contact marketing@worldnettps.com or visit www.worldnetpayments.com

About Esper: Esper offers the industry’s most powerful cloud tools for Android device deployment and application management. Our platform and cloud APIs help organizations across industries go beyond traditional mobile device management to Android DevOps

Media Contacts

Shiv Sundar
Esper
shiv@esper.io
(916) 759 – 8231

Cassandra Buckley
Worldnet Payments
marketing@worldnettps.com
(470) 372-1601

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Salvation Army choose Fintech prepaid cards specialist B4B Payments in modern slavery response


Cashless advocates and prepaid payments company, B4B Payments is lending its technological weight to The Salvation Army in the vital work to support recovering victims of modern slavery, by working with the organisation on cashless payment technology.

The Fintech organisation, which is a fast-growing player in the prepaid card industry for over 14 years, is helping The Salvation Army to roll out its prepaid cards among victims of modern slavery for whom cash is an insecure method of payment. The rapid introduction of this new technology is one of many measures The Salvation Army and its partners have initiated with support from the Home Office to adapt the way support is provided to victims of modern slavery in its care. The use of prepaid cards enables The Salvation Army to minimise face to face contact during the coronavirus pandemic in delivering subsistence payments to which victims of modern slavery are entitled under the Government contract through which The Salvation Army provides vital support to help them begin their journey of recovery.

Modern slavery is a problem which is still surprisingly prevalent around the world. Since 2011, The Salvation Army has supported more than 10,000 victims of modern slavery. In 2019, 46% of potential victims who entered support were referred from London. It is estimated that one in two hundred people around the world is a slave, victims of all manner of exploitation hidden in plain sight in farms, factories and car washes and forced to work in the sex industry and even criminal activities such as drug smuggling.

Thanks to their amazing work in Britain and around the world, The Salvation Army is helping victims of modern slavery to begin new lives living independently when they are rescued from their captors, supporting the work undertaken through the Government contract with additional support programmes through our own charitable funds.

By partnering with B4B Payments, The Salvation Army is able to give the people it helps a prepaid Mastercard®. This means that staff can give the victim all the money that they are entitled to at once without fear that they will be targeted, and it works as a viable alternative to cash. Users are also able to make cashless payments online using this method, just like a traditional bank card, so they can more easily access Government services or pay for things from home if they have a disability or restricted by social distancing measures.

Major Kathy, Betteridge, Director of Anti Trafficking and Modern Slavery for The Salvation Army said “Even in these challenging times with coronavirus, The Salvation Army and our partners are doing all we can so that victims have the best care possible, to keep them safe and help them continue their recovery.

Bringing forward the roll out of prepaid cards has been one of the key adaptations we’ve successfully introduced in recent weeks to help survivors of slavery as they not only begin to live independently but also supporting them to do this within Government guidelines, to protect them from infection.

The Salvation Army’s Victim Care Fund has made a contribution of £20,000 from its charitable resources to make sure we could get the prepaid cards to the vulnerable people in our care as quickly as possible.

We recognise the extraordinary demands on our staff, volunteers and partners, and want to thank them all, along with suppliers like B4B Payments, for stepping up in their rapid response to a fast-moving situation which has been exceptional and deserves commendation.”

B4B Payments CEO Paul Swinton said: “It has been hugely rewarding to provide our services to The Salvation Army because they’re tackling some of the biggest social problems in the world today. Financial inclusion is an issue that cuts across so many different areas including Modern Slavery, domestic abuse, people trafficking and homelessness, and it is vital that we as a financial technology company do our bit to innovate and help the less fortunate.”

Stats on modern slavery and how The Salvation Army are supporting victims

Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to license by Mastercard International Inc. WDCS is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900051)

Press Contact:
Katrina Hutchings, Marketing Director B4B Payments
katrina.hutchings@b4bpayments.com

For media enquiries, please contact The Salvation Army’s PR & Communications office:
media@salvationarmy.org.uk / 020 3657 7555

B4B Payments  provides forward-thinking payment processing solutions, which enable any size organisation to manage expenses, simplify payroll, reimbursements, and offer employee rewards and incentives.

With over 1,000 customers and growing, B4B Payments, voted the Best Prepaid Product of the Year in 2019, operates throughout Europe and North America.

As a leader in Fintech and prepaid payment solutions for over 12 years, employing a global team, B4B Payments continues to offer innovative, flexible, and time-saving solutions that streamline and eliminate antiquated finance and accounting processes.

B4B Payments Europe is a member of the Federation of Small Businesses, PIF (Prepaid International Forum), Innovate Finance, and the Mayor of London’s International Business Program.

Formerly known as Payment Card Solutions, B4B Payments also manages and operates the re-loadable scrapyard pay-out solution, www.bread4scrap.com.

About The Salvation Army’s modern slavery work:

The Salvation Army was awarded the government contract in 2011 to provide specialist support for adult victims of human trafficking in England and Wales, including safe accommodation, counselling, medical care, translation services and legal counselling. Victims seeking help have been trafficked to or within England and Wales and are referred to the service through a dedicated referral line 0800 808 3733 available 24 hours a day, seven days a week.

For more information visit the website: www.salvationarmy.org.uk/modern-slavery

The Salvation Army is an international Christian church and registered charity which has been transforming lives for more than 150 years. Working in 131 countries worldwide, The Salvation Army offers friendship, practical help and support for people at all levels of need. In the UK and Republic of Ireland this work includes more than 750 community churches and social centres. Registered Charity Nos. 214779, 215174 and in Scotland SC009359, SC037691. For more information visit the website www.salvationarmy.org.uk

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Dubai Based Fintech Set to Disrupt UK Digital Payments


Dubai, UAE: Dubai based fintech company specializing in payment processing is set to launch OG Bank and OG Pay (On the Go) a digital banking solution, chat based payment wallet and a digital point of sale (POS) all to be operated from mobile devices.

OG Bank and OG Pay have signed an agreement with Bankable, the global architect of “Banking as a Service” solutions, to offer digital banking and digital payment solutions primarily in the UK and Germany. Whilst OG Bank will be a digital bank, OG Pay claims that with a chat-based payment solution and digital pos through mobile phones in a closed loop environment they will cause major disruption in these markets.

Chat based payment solutions and mobile payment processing is widely and commonly used in Asia. For the last few years a cashless race has been seen in Asia with global players emerging however this type of technology has rarely been seen in Europe. A closed loop system can create advantages for consumers due to the competitive nature and low costs for operators.

Mohammed Ibraheem Khan, CEO of OG Bank and OG Pay said: “I chose Bankable as a technology partner to support my ambition in multiple markets. OG Pay will change the way individuals and businesses send and receive money along with how businesses process payments. We are going to ruffle feathers… A disruption is needed and disrupt we shall”.

“Bankable is delighted to partner with Dubai based OG Pay, a chat based payment pioneer, to launch new payment solutions in the UK and Germany. OG Pay is an ambitious organisation planning to launch digital banking services supported by Bankable API infrastructure, not only in Europe but also in Pakistan, Egypt, Malaysia, Indonesia and other jurisdictions,” says Eric Mouilleron, Founder and CEO of Bankable “Bankable will partner with OG Pay in all its markets, appointing new regional bank sponsors in the process.”

Whilst digital banks are emerging and growing in popularity the emergence of payment wallets and adoption in the UK and Europe has been slow. With the world in a cashless race only time will determine the success of such technology in established markets.

For further information, please contact:

Sara Malinowsky at Bankable sara@bnkbl.com / 020 3948 6034

Ancy Rajeev at OG Pay ancy@ogbank.co.uk

About OG Pay/OG Bank

OG Bank and OG Pay is a digital bank, chat based payment wallet and digital point of sale solution. Our digital payment solutions are powered through mobile phone devices and enabling users to avail full banking facilities, payment transfer through chat and transform their mobile device into a payment receiving and processing terminal.

About Bankable
Bankable is a global digital core banking platform and Banking as a Service provider. We help financial institutions, corporates and FinTechs deploy, orchestrate and operate highly differentiated payment solutions with quick time to market.

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