Payments round-up: 30 November 2017
We did say there will be no quiet days. Coming straight after yesterday’s (29 November) action, we bring another payments round-up. Features Interac, nanopay, Remitr, ADGM, Nordea, Nets, Facebook and Amazon.
Interac payments service and nanopay are working on extending the former’s e-Transfer capabilities to allow for cross-border payments.
By enabling Canadians to send money internationally as “easily as sending a message” Interac says, the extension of cross-border digital capabilities for its e-Transfer platform is part of the broader effort to continue modernising Canada’s payment systems. Starting with India, the service will allow the sending of money from a Canadian account to an eligible Indian bank account.
Not to be outdone, payments provider Remitr revealed its partnership with Abu Dhabi Global Market (ADGM) to test and launch MoneyOS – its new cross-border system.
Developed as part of ADGM’s RegLab programme, using machine learning, MoneyOS complies with local regulatory guidelines in each country to enable users to collect and make international payments from a single MoneyOS account, bypassing traditional methods.
Starting with the ability to pay e-invoices. The way it works, according to Nordea, is that customers first enrol via their bank ID and afterwards use the PIN they have created for mobile banking. Users can confirm, view or change their outstanding e-invoices on Facebook Messenger. The service is also fully automated, and payments can be initiated via a chatbot.
Finally, because everyone else is getting a payments service, Amazon has introduced Amazon Pay for Alexa skills, allowing developers and merchants to “streamline” e-commerce purchases using Alexa.
Currently in private beta testing for selected developers and merchants, when launched Alexa users will be able to use payment information already in their Amazon account to purchase physical goods or services.