Latest news with #IFXPayments
Reuters
21-07-2025
- Business
- Reuters
IFX Payments mulls withdrawing takeover offer for UK's Argentex
July 21 (Reuters) - Cross-border payments provider IFX Payments said on Monday that it was considering withdrawing its takeover offer for Argentex (AGFX.L), opens new tab, days after the British currency risk management company appointed administrators amid a funding shortfall.
Finextra
10-06-2025
- Business
- Finextra
IFX Payments selects Form3 for Verification of Payee
IFX Payments, a service-led alternative banking partner, today announces it will be using Form3's Verification of Payee (VoP) solution for SEPA account, strengthening its defences against payment fraud and aligning with the Instant Payments Regulation mandate. 0 Ahead of the Verification of Payee (VoP) scheme going live in October 2025, implemented by The European Payments Council, IFX Payments will now be able to verify payees before payments are executed. The VoP scheme is designed to reduce fraud and payment errors by verifying that the payee's name matches their PSP's records for the given IBAN. This occurs before the payment is executed, providing additional assurance that the funds are being sent to the correct account holder. Form3's solution will ensure that IFX Payments is compliant with the Instant Payments Regulation for its SEPA Credit Transfer and SEPA Instant Payments, offering its customers enhanced protection against authorised push payment (APP) fraud and payment errors. The Form3 VoP solution is underpinned by a single API designed to integrate seamlessly into existing infrastructure, allowing customers to meet regulatory requirements while focusing on growth, to improve the overall customer experience. The solution has been designed with compliance in mind for customers. Form3's fully managed service delivers compliance with regulations such as IPR and PSD3. A key selling point is that Form3 provides rolling scheme updates - without service interruption. Today's announcement marks the third Form3 product that IFX Payments has adopted, having previously integrated Confirmation of Payee (CoP) and SEPA Credit Transfer into its customer offering. Mike Walters, CEO, Form3, says: 'We're proud to be working with IFX Payments, a forward-thinking global organisation at the forefront of FX and payments. Their decision to adopt our VoP solution marks this as the third Form3 product that IFX Payments has signed up to - highlighting the strength of our ongoing partnership and their commitment to growth.' Rosie McConnell, Product Director, IFX Payments, comments: 'We chose Form3's VoP solution because of its seamless fit with our existing compliance infrastructure. Having a dedicated onboarding team has been invaluable, allowing us to continue focusing on what matters most: delivering a secure, reliable, and fully compliant payment experience for our customers. We're happy to be building on our partnership with Form3.'
Reuters
09-06-2025
- Business
- Reuters
UK's Argentex rejects Lavide's investment proposal
June 9 (Reuters) - Argentex (AGFX.L), opens new tab said on Monday it had rejected an equity investment proposal from the Netherlands-based Lavide Holding NV ( opens new tab to obtain a 50% stake in the British currency risk manager for 2.5 million pounds ($3.39 million) and a potential provision of a 15 million pound credit line. The British company rejected the proposal, stating it neither covers the full share capital nor provides sufficient funding compared to an agreed deal with IFX Payments. ($1 = 0.7376 pounds)
Sky News
09-06-2025
- Business
- Sky News
Dutch investor Haerlem Capital tries to gatecrash sale of FX firm Argentex
A Dutch private equity investor is trying to gatecrash the emergency sale of Argentex Group, a London-listed currency management firm caught in the financial crossfire of Donald Trump's tariffs crusade. Sky News has learnt that Haerlem Capital has approached the board of Argentex with a proposal that would see it injecting £5m in exchange for a 50% stake in the company. Haerlem Capital has also offered to provide a £15m funding line to Argentex as part of the deal, according to people close to the situation. Sources said the approach had been rebuffed because it was deemed unworkable in the context of a sale of the whole company, which has already been agreed to IFX Payments. Argentex shareholders are scheduled to vote on the IFX deal on Wednesday. In April, Argentex, whose clients include the FTSE 100 insurer Aviva, asset manager Barings, and Triumph Motorcycles, said it had been "exposed to significant volatility in foreign exchange rates, particularly in relation to the rapid devaluing of the US Dollar against other major benchmark currencies which has been precipitated by the various recent announcements from President Trump regarding tariff policies and US government spending cuts". The company was forced into emergency sale talks, with its board ultimately succeeding in securing a deal on a solvent basis - albeit at a steeply discounted price It announced late last month that it had drawn down £6.4m of a £20m revolving credit facility provided by IFX Payments. "These drawn amounts are in addition to the £10.5m secured bridging loan provided by IFX Payments and have been applied to ensure that the Company remains within its liquid assets threshold requirement (LATR) and to satisfy certain margin calls from its liquidity providers," it said. Argentex floated on London's junior AIM market in 2019, and counts Lord Jones, the former CBI boss, among its board members. Shares in the company, which recently resumed trading on the junior AIM stock market, were changing hands for about 2.5p on Monday morning, giving Argentex a market capitalisation of just under £3m.
Yahoo
09-06-2025
- Business
- Yahoo
Dutch investor Haerlem Capital tries to gatecrash sale of FX firm Argentex
A Dutch private equity investor is trying to gatecrash the emergency sale of Argentex Group, a London-listed currency management firm caught in the financial crossfire of Donald Trump's tariffs crusade. Sky News has learnt that Haerlem Capital has approached the board of Argentex with a proposal that would see it injecting £5m in exchange for a 50% stake in the company. Haerlem Capital has also offered to provide a £15m funding line to Argentex as part of the deal, according to people close to the situation. Money latest: Sources said the approach had been rebuffed because it was deemed unworkable in the context of a sale of the whole company, which has already been agreed to IFX Payments. Argentex shareholders are scheduled to vote on the IFX deal on Wednesday. In April, Argentex, whose clients include the FTSE 100 insurer Aviva, asset manager Barings, and Triumph Motorcycles, said it had been "exposed to significant volatility in foreign exchange rates, particularly in relation to the rapid devaluing of the US Dollar against other major benchmark currencies which has been precipitated by the various recent announcements from President Trump regarding tariff policies and US government spending cuts". The company was forced into emergency sale talks, with its board ultimately succeeding in securing a deal on a solvent basis - albeit at a steeply discounted price It announced late last month that it had drawn down £6.4m of a £20m revolving credit facility provided by IFX Payments. "These drawn amounts are in addition to the £10.5m secured bridging loan provided by IFX Payments and have been applied to ensure that the Company remains within its liquid assets threshold requirement (LATR) and to satisfy certain margin calls from its liquidity providers," it said. Argentex floated on London's junior AIM market in 2019, and counts Lord Jones, the former CBI boss, among its board members. Shares in the company, which recently resumed trading on the junior AIM stock market, were changing hands for about 2.5p on Monday morning, giving Argentex a market capitalisation of just under £3m. A spokesperson for Argentex declined to comment on the approach from Haerlem Capital.
