News Article

Making Headlines - December Edition

As the trusted and proven PayTech Pioneer™ uniquely focused on supporting the growth journeys of our customers, nothing gets us more excited than when we see our customers and partners dominating the news agenda 🚀  

Each month we bring you the only news round-up for fintechs, payments and banking that you need - our Making Headlines update. Stay ahead and hear the highlights from Global Processing Service and our customers and partners.  

The trophy cabinet 
🎉 We've been awarded another accolade, Best Payment Processing Partner by Global Brands Magazine. Thank you to all our customer, partners and employees - we wouldn't have been able to achieve this without you. Here's to even more successes together in 2022! 

👏 Huge congratulations to our CEO Joanne Dewar for being named in the 2021 Payments Power 10. Voted for by the industry, it recognises the industry leaders, innovators and game changers in 2021. 

🚀 Starling Bank has bought a mortgage book worth around £1 billion. The bank, who raised £272 million in March in a funding round, is valued at around £1.1 billion.  

🎉 Our customers Soldo, Revolut and Modulr were named in The UK Fast 50 - an acknowledgement of the 50 fastest-growing technology companies in the UK. The ranking is based on revenue growth over the last four years. So proud to be at the side of our customers as they enjoy this revenue growth.

Funding 💸 
🚀 In our previous Making Headlines, we shared the detail about how to pre-register for the opportunity to invest in Caxton. Now they’ve secured more than £1.5 million from investors on Crowdcube. They did have a target of £1 million, which they’ve sailed past.  

🚀 Berlin-based Mambu has just been through a €235 million Series E fundraising round which values the business at €4.9 billion. Eugene Danilkis, co-founder and CEO of Mambu said: “Our vision in creating Mambu was always to create an industry-leading platform that will enable more than a billion people to have brilliant banking experiences.”

Buy Now, Pay Later
💳 Mastercard’s recently launched Buy Now, Pay Later offering, Mastercard Installments, has signed up new partners. It means banks, lenders, fintechs and wallets can offer a range of instalment options at merchants, including a zero per cent interest, pay-in-four model.

📈 Our New Zealand Buy Now, Pay Later customer LayBuy has explained it remains on track to reach its target of $1 billion GMV for financial year 2022. Their active customers now exceed 900,000 globally. 

Global expansion
📈 Our long-standing customer, Revolut, announced this month that it has launched banking services in France, Italy and Portugal. And the growth doesn’t stop there. It has also obtained a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS). Now it can launch its stock trading feature to its customers in Singapore and beyond. 

🚀 Unicorn WeLab announced its acquisition of Bank Jasa Jakarta (BJJ), an Indonesian commercial bank. Apparently WeLab is planning to launch a digital bank in the second half of next year.

🎉 Congrats to our customer Starling Bank who took home not one, but two trophies at the Alt-Fi awards 2021. They picked up Bank Of The Year 2021 and Consumer Fintech Of The Year 2021. It’s been fantastic going on this growth journey with you Starling Bank! 

👏 Well done to our customers and partners Currencycloud and Ziglu who scooped awards at the Fintech Finance Awards! Currencycloud were winner of Unseen Embedded Finance category and Ziglu won Wow Moment in Growing Your Wealth category.   

Global Processing Services made it to the finalist list, as well as our customers and partners Modulr, Starling Bank, Nium, and Mambu.

Innovation 💡
💳 Visa is working with partners to pilot a consolidated bill payment and subscription management service. Utilising its request to pay platform, this service will be piloted for UK consumers.