Latest news with #ClearBank
Finextra
20-05-2025
- Business
- Finextra
Payabl. taps ClearBank for embedded finance services
Leading European financial technology provider payabl. has partnered with ClearBank, an enabler of real-time clearing and embedded banking, to expand its UK payment services and enhance security for businesses. 0 Through this collaboration, payabl. now provides businesses with seamless access to all major UK payment schemes - Faster Payments, BACS, and CHAPS - enabling real-time transactions in GBP. The integration also strengthens fraud prevention with Confirmation of Payee (CoP), ensuring safer payments by verifying recipient account details before funds are transferred. The collaboration strengthens payabl.'s Business Accounts offering, reinforcing its commitment to helping UK businesses stay ahead in an evolving payments landscape. Both ClearBank and payabl. share a commitment to delivering cutting-edge financial technology solutions. With a focus on modular technology, API integration, and cloud-native services, this partnership is fuelling business growth while unlocking new opportunities for collaboration. Kristaps Zips, UK CEO of payabl., said: 'At payabl., we believe strong partnerships drive the best innovations and benefits for customers. Our collaboration with ClearBank embodies this, integrating their services into our platform to enhance choice and security for UK customers. We look forward to expanding this partnership further to help businesses better serve their customers with fast, flexible, and secure payments.' John Salter, Chief Customer Officer at ClearBank, said: 'We are pleased to be working alongside payabl. to allow them to power their Business Accounts offering, and we are proud that we can help more companies experience the unique power of the ClearBank platform. We are equally committed to ensuring we are building and evolving services to strengthen the payments industry for the future, and so this is an exciting collaboration.' Real-time is the new norm Real-time payments are no longer a luxury - they're an expectation. Businesses and consumers alike demand instant access to funds, faster settlements, and increased security. With the UK's Faster Payments scheme processing nearly 5 billion transactions in 2023 - a figure set to exceed 7 billion within a decade - the need for speed and reliability in payments has never been greater. Zips added: "Instant payments aren't just about convenience; they're a necessity for modern businesses. Fast, frictionless transactions keep cash flowing, reduce operational bottlenecks, and enhance customer experience. Our partnership with ClearBank ensures that UK businesses can move money instantly, 24/7 - securely and with confidence. Faster payments drive faster growth, and payabl. is committed to leading this evolution in the payments landscape."
Yahoo
01-05-2025
- Business
- Yahoo
UK's Delayed Regulation Hurts Plan to Be Global Crypto Hub, Executives Say: CNBC
The U.K. needs to work harder at becoming a global center for the crypto industry to avoid falling behind countries like the U.S., industry executives told CNBC. The country has been saying it wants to be a crypto hub since 2022, before the current Labour government was elected, yet only this week did it start seeking comments on draft legislation for the industry. The European Union, meanwhile, has already implemented its Markets in Crypto Assets legislation (MiCA), which provides a uniform regime across the bloc, and the new U.S. administration of President Donald Trump is promoting the industry and relaxing regulation. 'If I look at the speed of innovation, I do feel that the U.S. is ahead — although they have their own challenges. But look at Singapore, Hong Kong — again, you see much more rapid innovation,' Jaidev Janardana, the CEO of digital bank Zopa, told CNBC. 'I think we are still ahead of the EU, but we can't remain complacent with that.' Trump, for his part, has been urging departments to make crypto-friendly policies, and stablecoin legislation is working its way through the Senate. The stablecoin sector could surge 10-fold to reach $2 trillion within three years following the passage of the legislation, Standard Chartered has forecast. 'Other jurisdictions have started to seize the opportunity,' said Cassie Craddock, the managing director for U.K. and Europe at blockchain firm Ripple, in an interview with CNBC. Mark Fairless, CEO of payments infrastructure firm ClearBank, said his business has been looking to develop its own stablecoin and has been held back by the lack of regulatory clarity. Stablecoins are 'part of our medium-term, longer-term strategy,' Fairless told CNBC. 'We see ourselves well set up for that.' However, he added, a ClearBank stablecoin will be possible only once there's clarity from U.K. regulators including the Bank of England. Still, the country hasn't entirely missed the bus. "The U.K. is still that great place to set up. We have all the ingredients there, because we've got the ecosystem, we do have this talent setting up new businesses," Lisa Jacobs, CEO of business lending platform Funding Circle, said. "But it needs to continue. We can't rest on our laurels." 'I think the U.K. will get it right — but there is a risk if you get it wrong that you drive innovation to other markets,' Keith Grose, Coinbase's U.K. head, told in to access your portfolio
