I love Velvet announced last week at the National Retail Federation (NRF) that it has reached EMV2, the second level of EMV certification, which authorises PIN and integrated Chip (IC) payments from debit, credit and smart cards worldwide. According to Patrick Bouaziz, the company’s Chief Visionary Officer, I Love Velvet “is now fully operational in every country around the world.” The mobile payment solution provider also this month customised point-of-sale (POS) solutions for Nespresso and Verizon Wireless.
I Love Velvet claims to have increased sales by 100% since starting in 2010 and to now be the world’s third largest mobile payment solution provider after Ingenico and Vodafone. The company’s clients in the payment industry include Bank of America, Moneris Canada, Heartland Payment Systems, Zete Nederland and TSYS. The company also has market penetration in hospitality, telecommunications, health care, fashion and travel.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more