ayPal has signed a deal with petrol station payment provider, Gilbarco Veeder-Root that will see its mobile payment service become an option across the US. Initially, PayPal will be integrated with Gilbarco’s point-of-sale (Pos) product before becoming a part of all of its media and merchandising solutions.
Gilbarco claims to have more than 30,000 PoS systems installed at petrol stations and shops across the US. The deal comes as part of PayPal’s efforts to become a leading payment provider outside of the internet. To date, the firm has agreements to provide mobile payment solutions to 23 retails, 12 of which are now live in 18,000 locations
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.