Latest news with #paymentservices
Finextra
2 days ago
- Business
- Finextra
Privalgo secures EMI licence in the Netherlands
Privalgo B.V., part of the UK-based Privalgo Group specialising in currency and payment services, has received a licence from De Nederlandsche Bank (DNB), the central bank of the Netherlands, as an Electronic Money Institution (EMI), in accordance with the European Electronic Money Directive (EMD2) and the Payment Services Directive (PSD2). 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The licence, granted on 1 August, marks an important milestone in the company's European growth strategy. With the EMI licence, Privalgo is authorised to issue electronic money, offer payment accounts, and execute payment transactions under one of Europe's most advanced regulatory frameworks. The group's European headquarters will be established in Amsterdam, from where services will be made available across the EU via the so-called 'passporting mechanism'. Expansion into new market: The Netherlands By entering the Dutch regulatory framework, Privalgo brings its client-focused currency and e-money services to a new market. Operating on a scalable, proprietary platform, the company offers tailored foreign exchange and digital wallet solutions for businesses and high-net-worth individuals. These services, already available in the UK through its sister company Privalgo Ltd, are now accessible throughout the European Union – under a recognized and respected supervisory regime chosen for its clarity, reliability, and alignment with Privalgo's long-term strategic vision. CEO Dan Biggs: Amsterdam as European Hub Dan Biggs, CEO of Privalgo, explains: 'We chose Amsterdam as the base for our European operations due to its strategic location, international business culture, and progressive regulatory environment. De Nederlandsche Bank is known for its strict yet constructive supervision, which fosters responsible innovation. Moreover, Amsterdam offers access to a highly skilled talent pool, excellent connectivity, and a modern financial ecosystem. This licence allows us to expand our international payments and foreign exchange services across the EU via the passporting mechanism. It's a major step in our ambition to position Privalgo as a global full-service financial provider.' The Netherlands continues to be a leading financial hub within the EU, offering one of the most robust regulatory frameworks for fintech companies. Its central location also makes it an ideal launchpad for Privalgo's further expansion into multiple European markets. Strengthening European businesses through local DNB licence Ronald Wallroth, Managing Director of Privalgo B.V. in Amsterdam, adds: 'With this DNB licence, we can accelerate our European growth plans. The authorisation enables us to meet the regulatory and compliance requirements of other countries in continental Europe, allowing us to support European businesses – just like those in the UK – in their international payment flows. Our service offering will be competitive, professional, and personalised. The licence is great news for us as a company, and for businesses looking for a new, efficient alternative for their international payment and currency needs.' Privalgo is one of the fastest-growing financial services providers in the United Kingdom, combining cutting-edge technology with a personalised approach. With this step into the EU market, the company aims to play a key role in supporting European SMEs, corporates, and individuals with efficient and scalable cross-border payments. The Dutch EMI licence is regarded as one of the most credible compliance standards within the EU. It ensures that Privalgo's services meet the highest standards in terms of transparency, security, and regulatory oversight.
CNA
22-07-2025
- Business
- CNA
Indian fintech firm Paytm posts 1st quarterly profit since September 2024
Indian fintech company Paytm reported a quarterly profit on Tuesday, aided by strong lending business and as it kept a tight lid on expenses. The firm posted a profit of 1.23 billion rupees ($14.24 million) for the three months ending June 30, its first quarterly profit since the September 2024-quarter, which had come on the back of a one-time gain from the sale of its ticketing business. The company has increased its focus on core businesses and lowered expenses to move towards profitability. The firm had posted a loss of 8.39 billion rupees in April-June a year earlier, on weakness in its payments business after the central bank's directive to shut down its banking unit in January 2024. For the latest quarter, its revenue from operations rose 28 per cent to 19.18 billion rupees. Revenue from financial services, which includes the loan business, doubled year-on-year and payment services business climbed 18 per cent. Expenses fell 19 per cent year-on-year to 20.16 billion rupees. Paytm's earnings before interest, taxes, depreciation, and amortization before the cost of employee stock options, a key metric for the company, were a positive 1.02 billion rupees for the quarter. ($1 = 86.3470 Indian rupees)
Bloomberg
15-07-2025
- Business
- Bloomberg
Elliott Has Amassed Stake in Global Payments
Activist investor Elliott Investment Management has amassed a sizable position in payments services company Global Payments Inc., according to a person with knowledge of the matter, who asked to not be identified discussing private information. The investor's demands couldn't immediately be learned.
Finextra
10-07-2025
- Business
- Finextra
Payfinia brings Paze digital wallet to community FIs
Payfinia, an independent payment services firm providing an open payments framework, announced today its partnership with Early Warning Services to offer Paze SM, an online checkout solution developed by Early Warning Services and offered by participating banks and credit unions. 0 Star One Credit Union, one of the nation's largest credit unions with more than $9 billion in assets, is the first financial institution onboarding Paze through Payfinia. Paze is a fast, easy and convenient online checkout solution that offers added security through tokenization, and actual card numbers are never shared with merchants. Now, participating financial institutions will leverage Payfinia's digital wallet services, designed to streamline the secure exchange of eligibility information and enable seamless access to the Paze digital wallet checkout experience. To ensure comprehensive user privacy and compliance, Payfinia's digital wallet service provides a computing layer that protects critical user data supplied by financial institutions. "The confidential computing overlay service enables Payfinia to process and analyze financial data in a safe environment, ensuring both speed and security for the financial institution and their digital wallet users' said Nizar Jamal, CTO of Payfinia. 'Through our partnership with Payfinia, credit unions and community financial institutions will now have a more streamlined path to offering Paze,' said Eric Hoffman, chief partnerships officer at Early Warning Services. 'Payfinia's trusted relationships and technical capabilities make them an ideal partner to help extend the reach of Paze—bringing a fast, easy and convenient online checkout experience to more consumers through the institutions they know and already use.' According the Paze Pulse SM report, Americans have an appetite for a financial institution-provided digital wallet, with 82% of respondents report trusting their bank's security more than third-party payment options. 'More consumers are demanding a seamless eCommerce checkout experience, and they prefer to initiate the checkout process through a digital banking solution offered by their financial institution,' said Keith Riddle, general manager of Payfinia. 'We are thrilled to partner with Early Warning Services to offer Paze to our open payments framework and eCommerce services as a means for community financial institutions to enhance the digital wallet experience revenue. Through this partnership, our clients will have a seamless, eCommerce service, creating more efficient checkout experiences and satisfied consumers.' 'We're proud to be launching Paze for Star One Credit Union customers later this year, bringing a seamless digital wallet experience to our 132,000 members,' said Minal Gupta, president, at Star One. 'Star One has been a long-standing partner of Payfinia, and together we've already seen the impact of modern payments infrastructure on member engagement. By enabling Paze, we're helping them take the next step—delivering a streamlined eCommerce checkout experience that aligns with how members want to shop today.'
Yahoo
08-07-2025
- Business
- Yahoo
ShopBack gains payment institution licence in Singapore
ShopBack, a platform specialising in shopping rewards and payments, has secured a major payment institution (MPI) licence from the Monetary Authority of Singapore (MAS). This licence enables ShopBack to offer payment services through its product, ShopBack Pay, within Singapore's regulatory framework. It allows ShopBack to directly facilitate payment transactions, enabling merchants to accept payments and customers to pay using ShopBack Pay. ShopBack acting CFO and chief of staff Huanmin Huang said: 'Receiving this Major Payment Institution licence marks a foundational milestone for ShopBack. It reflects MAS's trust in our ability to operate responsibly and gives us the infrastructure to scale ShopBack Pay in a way that's smarter, faster, and more secure — while continuing to deliver value to both users and merchants.' For the time being, the consumer interface for making in-store payments via ShopBack Pay will remain unchanged, with the licence allows ShopBack to potentially introduce new functionalities to its platform. From a commercial standpoint, the MPI licence signifies ShopBack's readiness to expand its involvement in Singapore's payment ecosystem. It allows the company to establish more direct partnerships with merchants, streamline payment settlement processes, and further develop its technological infrastructure to support upcoming payment solutions. The company's product suite includes cashback, payments and vouchers, offering app available on both playstore and iOS. "ShopBack gains payment institution licence in Singapore " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
