Payments is one of the most crowded industries around right now and while there are signs of consolidation in some parts of the industry such as point of sale, others are likely to get busier before there is a shake out.
Enter Europe’s latest digital wallet. This one is called GRPPY and it’s been launched by Germany’s Wirecard and mobile loyalty and payments firm MyOrder launched eight years ago and snapped up by Dutch banking and financial services firm Rabobank in2012.
Available in the Netherlands, this is aimed at group purchases and helping to eliminate the hassle of paying friends back for things like tickets, dinner or household purchases among flatmates. It looks to tap into a very real and annoying problem that services like Venmo are solving with great success in the US.
This app goes for a different kind of approach – letting one person collect money from multiple people and then pay for, say a holiday apartment. Rather than one person fronting the money and then requesting money say like on Circle, the idea seems to be around group tabs, with members in a group depositing money via iDEAL (the Netherlands’ online banking and payments system).
Loot, the smartphone banking app aimed at helping millennials stay on top of their finances, has finally launched this week and started to open accounts of the 25,000 people on its waiting list.
Amazon have recently launched their new in-store innovation service, Amazon Go.
Google's Android Pay is getting into the festive spirit in the UK by introducing some Christmas rewards on its payment app. It also announces better interaction with Transport for London and Uber.
Mastercard partners with Apple on Apple Pay’s Spain launch and rolls out selfie payments in Latin America
The American tech giant has launched its mobile payment service, Apple Pay, in Spain, partnering with Mastercard, Carrefour and American Express.