News Article

Making Headlines - March 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📢 

👀Where we are this month 

📢 Hear Group COO Cecil Edwards discuss the future of digital financial services at the GPS sponsored Pay360 hybrid conference on 22 March. He’s joined on a panel alongside representatives from NatWest, Santander UK, Tink and Ekata. Register here. 

👋 We’ll also be at FinovateEurope on 22 and 23 March. Come and visit Matt Breadon and Jack Rawlings who’ll be ready to meet you on our GPS stand. Find out more  

🤝 GPS CEO Joanne Dewar will be at the Findexable Fintech Fit event on 17th March. The event will discuss how we build a future fit financial services industry for a global online audience and includes a live pitch session of eight women. Discover more about this event.  

💻GPS and our industry 
One year on from when the Kalifa Review was published, GPS’ CEO Joanne Dewar was one of 70 fintech founders and leaders who joined forces in an open letter to the government calling for bolder action to maintain the UK’s coveted position as the leading hub for fintech. Read an overview. Joanne Dewar’s thoughts on the Kalifa Review one year on were also featured in Forbes and The Fintech Times.  

Growth 🚀
📱GPS customer, PaySafe, a specialised payments platform, has completed their acquisition of SafetyPay. SafetyPay - a leading payments platform operating primarily in Latin America - enables eCommerce transactions via a wide choice of open banking and eCash solutions. PaySafe also recently announced acquisition of Peruvian payments platform, PagoEfectivo. Together the two acquisitions set Paysafe up to be the leading open banking and eCash solutions provider in Latin America, one of the world’s fastest-growing online markets. 

Accolades 🏆 
🏦 London-headquartered Starling Bank topped a poll by Which? snagging the highest customer score. Infact, they scored so well in Which?’s product analysis they have been named a Which? Recommended Provider (WRP). Well done to everyone at Starling Bank – so well deserved! And this is one popular bank – as well as already having millions of accounts across the UK, someone joins Starling every 38 seconds! 

🎉 GPS’ Japanese customer Paidy announced they’ve recently been recognised among the Best Places To Work in Japan for 2022. The company received outstanding scores across several aspects of their workplace such as diversity and inclusion, teamwork, and leadership. 

Funding 💸   
🎉Congratulations to our partners Weavr who’ve just raised $40 million in Series A funding. It's been fantastic to be at their side during their growth journey. The embedded finance experts are working on launching in the US later this year. If you’d like to be the first to hear about their plans, join the waitlist
Partnership 🤝 
💸 Headquartered in Singapore, Nium is a leading embedded fintech company and once connected to their platform, businesses are able to pay out in more than 100 currencies to over 190 countries – 85 of which in real time. They’ve now partnered with FINCI – a collaboration which will enable real-time payments to new markets and improve services to existing regions for FINCI’s individual and business customers.   

📱GPS partners and leading payments platform Modulr have partnered with Ripple, the market leader in blockchain and crypto enterprise solutions, to enable global businesses to help make payments into the UK and Europe faster, more reliable and more cost effective. In 2021 Ripple had their most successful year to date, more than doubling the number of transactions on RippleNet, with a payment volume run rate of over $10 billion.  

🌍 Berlin fintech Mambu, who service more than 200 customers with over 53 million end users, are teaming up with global payments-as-a-service provider Change Financial to deliver digital banking and payment capabilities in Australia and New Zealand 

Diversity 🌈️ 
💳 GPS partner and leading global payments technology company, Visa announced the launch of Visa Minority Depository Institutions Accelerate, a new program to help reduce economic disparities and expand access and opportunity in communities of colour across the United States.  

Through this multi-year program, Visa will invest up to $100 million via deposits with Minority Depository Institutions (MDIs) to help them catalyse lending. Visa will also provide tailored insights and digital solutions to these banks to help them meet the needs of their clientele and the communities they serve.  

💳 Nearing the anniversary of the launch of the Strivers Initiative, Mastercard is reaffirming its commitment to black women small business owners through an expanded partnership with Fearless Fund in its joint mission to fund and support black women-owned businesses, a Priceless mentorship program, an updated suite of tools aimed at digitally fortifying their operations and a new digital marketplace where consumers can shop, share and support their businesses across the U.S.