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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.
Where we are this month 👀
Come and say hello if you’re going to Money 20/20 Europe in Amsterdam on 7-9 June. It would be great to share our insider insights to help grow your business. GPS customers, including Starling Bank’s founder and CEO Anne Boden, as well as speakers from our partners Mastercard and Visa will be attending too. Find out more about the event here.
Funding💸
Huge congratulations to GPS customer Modulr who've just raised $108 million at Series C.
William Lorenz of Modulr explained: “I’m thrilled to share that we’ve just announced our $108m (£83m) Series C fund raise... This was led by General Atlantic along with significant participation from existing investors Blenheim Chalcot, Frog Capital, Highland Europe, and PayPal Ventures.”
Expansion 🌍
GPS customer Nium, who offer global payments and card issuance solutions for businesses, have over 135 million end customers and recently announced the availability of real-time payments in Malaysia.
Solutions ✅
GPS customer RoosterMoney was recently acquired by NatWest. Now the bank has launched the Rooster Money contactless prepaid debit card. It’s for kids aged six to 17 and is full of and capabilities, like spending limits, instant top-ups and get real-time notifications on where and when they’re spending. And there’s safety features too - an option to freeze the card, one-time CVV for online purchases and built-in blockers.
Revolut also have released a product for younger people. ‘Junior’ means they can get instant alerts on their spending, plus make contactless payments with a tap. They can pick their own Junior card from a range, plus more features can be unlocked with a paid plan.
Partnership
🤝 Long-standing GPS customer Starling Bank has launched a campaign, called ‘Our Time’ that celebrates women’s football as part of its national sponsorship of the UEFA Women’s EURO 2022 tournament. It highlights the glass ceilings that continue to be broken for the women’s game, while nodding to Starling’s mission to level the playing field for women within banking and technology.
Wombat – the UK-based micro-investment platform has partnered with Currencycloud to launch a free investment service. Since 2012, GPS partners Currencycloud has processed more than $100 billion in more than 180 countries.
Growth 🚀
🎉Built especially to serve established SMEs, GPS customer Allica Bank has published their 2021 business performance update. Key takeaways include; lending to SMEs grew to over £560 million in 2021 – 12 times higher than in 2020, and their deposit book in 2021 went to more than £800 million. What a year and what an amazing growth journey!
Innovation💡
Mastercard has launched their new Biometric Checkout Program. Participants can offer consumers the option to enrol into their biometric checkout services, in the shop or at home, through a merchant or identity provider app. Then, once enrolled, consumers can just check the bill and smile into a camera or wave their hand over a reader to pay.
GPS partner Visa have a new scheme to boost electric vehicle adoption for UK drivers.
They’ve partnered with JustCharge so Visa customers will receive rewards when they pay for using JustCharge ’s network of community electric vehicle charging points using their debit or credit card.
In Visa’s survey of EV and hybrid drivers, 95% of respondents said standardised payment across public charging points would give them greater choice and accessibility.
