The Ural Bank based in Yekaterinburg is one of Russia’s five largest regional banks and operates mainly in the Sverdlovsk region. Part of bank’s strategies for the coming two years is to double its active customers and to position the bank as a reliable financial institution with modern high quality products and services.
“The Russian market is not only one of the largest but also one of the most attractive, as credit card penetration is so low there. There is therefore considerable interest in supplementing costly cash management systems with payments by mobile phone,” says Peter Fredell, CEO of Seamless and continues: “SEQR has previously concluded agreements with financial institutions in Sweden, Finland, Norway, Kuwait, Belgium, Rumania and Malaysia. Since being launched in Sweden in 2012, it has been possible to pay via SEQR in thousands of stores, with an additional 3,500 stores contracted for roll-out. In October, SEQR was launched in Romania in partnership with Garanti Bank and a launch in collaboration with bpost bank in Belgium is planned in spring 2014.”
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.