Category: Payments

October 27, 2023 BY Elizabeth Anderson

Poland's Bank Millennium issues statement on quarterly mortgage target

Currently, the Polish borrowers who had chosen mortgages denominated in foreign currencies, primarily Swiss francs, attracted by the promise of lower interest rates, face a financial predicament. The subsequent appreciation of the Swiss franc against the Polish zloty, coupled with interest rate hikes in Switzerland, has placed borrowers in the damaging position of managing larger-than-expected…

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SEC acts against 11 firms neglecting electronic communications
August 09, 2023 BY Elizabeth Anderson

SEC acts against 11 firms neglecting electronic communications

In acknowledging the oversights, these firms forked out a combined $289m to pay their respective penalties as per the outline below. $125m penalty payable by Wells Fargo Securities LLC, together with Wells Fargo Clearing Services LLC and Wells Fargo Financial Network LLC. BNP Paribas Securities Corp. and SG Americas Securities LLC each paying penalties of…

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European Union
June 29, 2023 BY Steffy Bogdanova

EU announces modernisation of payment services

The commission is additionally considering granting non-bank payment service providers full access to all payment systems within the EU. This approach aims to establish equal opportunities for both banks and non-banks by implementing a new set of regulations. Furthermore, this measure is anticipated to offer adequate protections for non-bank providers and ensure their entitlement to…

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Acquisition
March 27, 2023 BY Steffy Bogdanova

Equals Group acquires global payments services provider Oonex

Equals stated: Oonex’s ability to issue local IBANs within the Eurozone will significantly expand the addressable market for the Group’s platform and products and fits with Equals’ strategy to enable its customers to ‘Collect globally, deliver locally, control centrally.’ The latest acquisition complements the completion of Roqqett Limited’s acquisition, earlier in January. The terms of…

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Acquisition
February 28, 2023 BY Steffy Bogdanova

PayPoint finalizes acquisition of Appreciate Group

Nick Wiles, Chief Executive Officer of PayPoint, commented: Work on integration is already underway, with an immediate focus on organisational alignment, building on the strong momentum in both businesses and unlocking commercial revenue enhancements. The acquisition is expected to be immediately earnings enhancing in FY24 and the Board believes it will deliver attractive returns for…

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February 21, 2023 BY Steffy Bogdanova

Worldline sees revenue rise of 10.7% in 2022 to €4.36 billion

2022 figures Worldline’s revenue for the full year came in at €4.36 billion, registering a 10.7% rise compared to 2021. Moreover, the number exceeded the expectation of 8 to 10% growth. The payments firm’s operating margin before depreciation and amortization (OMDA) stood at €1.13 billion, accounting for 26% of the revenue. Net income Group share…

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Acquisition
January 09, 2023 BY Steffy Bogdanova

Equals completes acquisition of Roqqett

Under the terms of the deal, Equals had to make an initial £1.0 million cash payment, which as now been paid. This will be followed by three deferred payments one of up to £0.25 million in cash and two of £0.5 million, one in cash and the other in ordinary shares in Equals. According to…

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