Worldline acquires 80% of Eurobank merchant acquiring unit

spike

Eurobank, one of the four largest lenders in Greece, has announced it entered into a binding agreement to sell 80% of its merchant acquiring business to Worldline in an attempt to strengthen its capital base.

Worldline acquires 80% of Eurobank

Eurobank is the third Greek bank to offload its payments infrastructure involving point-of-sale (POS) terminals, after Piraeus Bank and Alpha Bank concluded similar deals this year.

As part of the deal, Worldline will aim to leverage the Greek lender’s banking network as a commercial channel to distribute its payment products and services to physical and online merchants.

Eurobank’s merchant acquiring

Read More

Commercial card payments reach 10% of global card payments

spike

Fuelled by dynamic integrated technology innovation, seamless regulatory compliance and enhanced value added services, businesses can generate operational advantages, achieve process improvements, and lower costs through the new generation of intelligent corporate and commercial card programmes.

Commercial card payments reach 10% of global card payments

Commercial cards and corporate payments programmes account for less than 10% of total payment card volume in Europe, yet there is tremendous potential for developing this sector into other areas undergoing automation, such as travel and expense programs and supply chain payments.

In Europe, the increasing demand for corporate and procurement/purchasing cards from governments, public

Read More

Taking the $100 billion opportunity before it’s too late

spike

In their 2021 Global Payments Report, McKinsey and Company identify[1] an $100 billion opportunity to provide small and medium enterprises (SMEs) with new payments services. By offering value-added services to SMEs, rather than outdated and low-function static payment terminals, merchant service providers (MSPs) have the opportunity to deepen and strengthen their relationships with SMEs.

Merchant Services: Taking the $100 billion opportunity

McKinsey quantify this opportunity as a shift from owning 5-7% of a merchant’s software spend to owning as much as 40% of that spend.

In our new white paper, we argue that providing next-generation, flexible and smart mobile

Read More

a parallel payments data revolution to underpin digital payments

spike

US payments technology is currently lagging behind other regions with lengthy settlement delays, limited mobile money penetration and outdated data management processes.

A parallel payments data revolution to underpin digital payments

Just 10% of US consumers use mobile payments, despite widespread smartphone ownership. Not only are paper checks still in widespread use, but 80% of Americans use credit cards for purchases, which can take up to three days to settle payments or even allow customers access to their own deposits.

By comparison, countries such as the UK shifted to near or real-time payment systems over a decade

Read More