Euler Hermes, Western Union tie up for Singapore risk management deal

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Euler Hermes Singapore and Western Union Business Solutions are teaming up to create a business trading solution in response to the increasingly challenging risk environment.

To facilitate import-export trading operations, Western Union will provide customers with payment outreach convenience for over 130 currencies across 200 markets, which will help minimise operating costs incurred from processing payments and mitigating volatilities in the foreign exchange market, the insurer said in a statement. Meanwhile, Euler Hermes will further complement Western Union’s proposition by providing global non-payment protection through its trade credit solutions.

“We are delighted about this cooperation with Western Union Business Solutions

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Global payments revenue to fall 7% in 2020

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The public health crisis triggered by COVID-19 has had an impact on nearly all aspects of daily life for people across the globe, has put the world economy on an uncertain footing and has caused global payments revenue to fall by 7%.

For the payments industry, the pandemic and its consequences have accelerated a series of existing trends in both consumer and business behaviours, and introduced new developments, such as a restructuring of both supply chains and cross-border trade.

Ongoing shifts toward e-commerce, digital payments (including touchless), instant payments, and cash displacement have all been significantly boosted in the past

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Castles Technology announces the acquisition of Spire Payments

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Castles Technology has completed the acquisition of the business and assets of Spire Payments, the leading European based EFTPOS terminal solutions provider.

Castles Technology announces the acquisition of Spire Payments

With the acquisition of the business and assets of Spire Payments, Castles is now better positioned to deliver market-leading payment solutions that enhance merchants’ businesses, from in-store acceptance services to value-added solutions.

“This acquisition delivers a perfect match between the two companies, with complementary strengths bringing a new fresh approach to the payment market,” says Jean-Philippe Niedergang, Group CCO Castles Technology.

“Our collaboration will give customers unmatched choice, new technical

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Airlines, cruise lines fall as Trump diagnosis raises fears of second wave, slower reopening

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U.S. President Donald Trump approaches reporters as he departs on campaign travel to Minnesota from the South Lawn at the White House in Washington, September 30, 2020.

Carlos Barria | Reuters

Shares of companies tied closely to the economy reopening declined on Friday as President Donald Trump’s positive Covid-19 diagnosis raised concerns about a second wave. 

Shares of United Airlines fell more than 4.5% in premarket trading on Friday. Shares of American Airlines and Delta Airlines lost 3.9% and 3.8%, respectively. Southwest Airlines dropped nearly 4% and Alaska Air Group fell 2.5%. 

Cruise operators also weakened Friday morning with Carnival

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