Payment insight February 2024
Retail Payment – PSPs focus on making the payment experience smoother for retailers
- EUROPE – Volt and Bumper join forces to improve payments at dealerships
- UNITED KINGDOM – Yapily and Ant International launch the first commercial sales representative in Europe
- EUROPE – Payplug and Mangopay : a new partnership for marketplaces
Volt and Bumper are collaborating to modernize payments at car dealerships via open banking, offering instant, real-time transactions for various services. This initiative, integrated with the digitalisation of dealerships, responds to a growing demand in the UK, reducing payment terms and improving the customer experience while strengthening the financial control of dealers.
In another area, Yapily and Ant International launched the first commercial variable recurring payment service in Europe, starting in the UK with HungryPanda. This initiative allows customers to make seamless payments directly from their bank accounts, providing a seamless and secure experience, while reducing transaction costs for merchants. The collaboration aims to expand open banking technologies to more mobile services, opening up new possibilities in e-commerce.
Finally, Payplug and Mangopay announced a partnership to strengthen the payment offer on platforms and marketplaces. This alliance will offer a complete and seamless solution to customers, combining Mangopay's marketplace capabilities with Payplug's expertise in payments. With extensive customer networks, both fintechs are well positioned to provide a high-quality payment solution across Europe.
Player strategy – Banks innovate to build customer loyalty
- FRANCE – Crédit Agricole launches a "talking card" to simplify the daily lives of visually impaired people
- UNITED STATES – Bank of America and Starbucks team up to reward joint customers
Crédit Agricole is launching a "talking card" for visually impaired people, developed by HandSome in partnership with Thales. This card, called Serenipay, uses Bluetooth to connect to the cardholder's smartphone and emits voice prompts when making payments. Currently only available at Crédit Agricole Normandie-Seine, it is expected to be rolled out in other regions. This initiative aims to simplify and secure transactions for the visually impaired, thus addressing an important need.
Bank of America and Starbucks have formed a partnership to reward their mutual customers through their respective loyalty programs, BankAmeriDeals and Starbucks Rewards. Customers can link their credit or debit card to their Starbucks Rewards account to receive rewards on specific purchases made with their Bank of America card. This partnership aims to strengthen customer loyalty by providing them with daily benefits and promoting regular spending.