News Article

Making Headlines – July 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 fintech, payments and banking that you need - our Making Headlines update. Stay ahead and hear the highlights from Global Processing Services, our customers, and partners.     

Our headlines📢  

We're thrilled to share that Joanne Dewar has stepped up to the position of Vice Chair at GPS and  industry titan Kevin Schultz has joined GPS as Chief Executive Officer.  

Kevin most recently served as Fiserv’s Group President of the Digital Banking. Prior to Fiserv, he was President, Global Financial Services at First Data, a $2.5B sales FI business across over 60 countries; following nearly 16 years at Visa, where he built out the debit processing business, Visa DPS.  

Gene Lockhart, GPS' Chair, will be taking a more active role in supporting the company on a day-to-day basis. He states: “We are hugely grateful for the great work that Joanne has done at GPS. Under Joanne’s stewardship, the company has gone from strength to strength and successfully transitioned through a major new investment round, the building of a new management team and a significant transformation. In her new role as Vice Chair, she will continue to play a pivotal role in GPS’ future. 

“With Kevin on board, our leadership team now has a unique and powerful blend of industry, market and leadership experience which will help us to accelerate the company’s growth.” 

Read more here 

Funding💸 

Congratulations to the whole Zilch team on the news it has secured an additional $50m in funding, taking the total raise for its Series C to $160m. This fintech, which is already a double unicorn, is trailblazing the payments industry. We are so proud to have been by your side from the beginning. Here's to an exciting future as Zilch continues on its mission to create the world’s most empowering way to pay. 

The UK’s first Direct Debit Travel Card, Currensea’s recent crowdfunding raised more than £1.35 million on Seedrs. Congratulations to the whole team, we’re proud to support you on your journey.  

Expansion 🌍 

GPS partner Currencycloud has received it’s Australian Financial Services (AFS) license which will allow the company to offer its full suite of services to businesses operating in Australia.   

Weavr has launched in Portugal, this follows the news earlier in the year that Weavr closed $40 million in Series A funding to accelerate the expansion of Plug-and-Play finance. The financing, led by Tiger Global, will support the U.S. launch of the BaaS disrupter. 

Solutions💡  

Curve have announced it’s introducing a new tier - Curve X - for £4.99 per month, taking the number of different cards in their offering to four; from a free card all the way to Curve Metal which delivers benefits including free travel and phone insurance. 

Growth 🚀 

Congratulations to long-standing GPS customer Starling Bank who hit a record three million accounts. Well done to the whole team for hitting this well-deserved milestone. 

Revolut is adding BNPL to its offering and is piloting the payment method in Ireland. They also have plans to launch BNPL in Poland and Romania later this year. 

GPS customer Allica Bank has hit £1 billion of lending in just two years after its launch. This news come hot on the heels of the announcement that it secured £55 million in additional funding. It's fantastic to celebrate these successes with you.  

Partnership 🤝 

GPS customer Nium, who have more than 135 million end users, have announced a partnership with the Stellar Development Foundation (SDF), a non-profit organization that supports the development and growth of the open-source public blockchain Stellar.  This partnership will enable payouts to 190 countries. 

Innovation🤝 

GPS partner Mastercard launches its first ever music album titled Priceless® at the Cannes Lions Festival of Creativity. The album, available first on Spotify and then other streaming platforms, features 10 songs, with each song incorporating the melody of Mastercard’s brand sound.