The mobile wallet solution created by mobile-commerce provider, EnStream, has been acquired by Paymobile, a financial services technology company providing programme management services for open loop prepaid and virtual card programmes (view press release). EnStream’s Zoompass is a mobile-based, stored-value payment service, which comes with a contactless payment card linked to the same account. Zoompass allows P2P money transfers and online transactions, while the companion card allows cash withdrawals and transactions at retail locations that accept card based payments.
The solution is available through iTunes, Google Play and Blackberry app stores.
There are increasing calls for the use of open banking APIs from industry groups and even the UK Treasury. It is clear that this market shift is inevitable, but while this openness will facilitate innovation and drive competition, there is uncertainty.
The European Banking Authority (EBA) has published the long-awaited draft of the Regulatory Technical Standards (RTS) covering Secure Customer Authentication (SCA) and secure communication. Tom Hay, head of payments at Icon Solutions shares his thoughts on whether they will be effective.
In another big deal for the global payments industry this week, credit card firm Visa has inked a partnership with digital payments processor PayPal.
The five fintech startups joining credit card company’s Capital One’s new fintech accelerator in Nottingham have been named, including Credit Kudos, Multisense, Pariti, Warwick Analytics and WealRo.