Global Payments

Western Union Unveils UK High-Value Transfers; Gap Taps Adyen For European Payments

Welcome to The Axis, your look at payments news from around the world. Coverage includes The Western Union Company’s roll out of high-value digital transfers from the U.K. In addition, Gap Inc. has tapped Adyen for online and in-store payments in Europe, and the Bangalore Metro Rail Corporation in India is at work on a quick response (QR) code ticketing system.

The Western Union Company has unveiled high-value digital transfers from the U.K. to other countries, the company said in an announcement. With the service, customers can use the Western Union website or app on their smartphones to send up to £50,000. The company said that growth of its bank payout network and investments in compliance controls has paved the way for the offering. Western Union’s global money transfer president, Odilon Almeida, said, “With this launch, we have added one more milestone in our quest to serve the diverse money transfer needs of our customers — many of whom are global citizens with assets and holdings in multiple countries.”

In other European payment news, Gap Inc. has chosen Adyen to manage its online and in-store payments in the continent, Adyen said in an announcement. The technology will come to more than 150 stores in France, the U.K., Ireland and Italy. In addition, Gap’s brand, Banana Republic, will also use the payments platform. Adyen’s chief commercial officer, Roelant Prins, noted that the line between online and in-store has blurred as retail has become more fluid. “Adyen will help Gap Inc. meet these constantly changing expectations by providing payments technology that helps create personal, consistent and completely seamless shopping experiences across all channels,” Prins said in the announcement.

In India, the Bangalore Metro Rail Corporation is turning to QR code technology to help consumers buy their Namma Metro train tickets with their smartphones, The Times of India reported. With the service, riders will be able to purchase tickets with credit cards, debit cards or via internet banking by choosing their starting point, destination and number of passengers on the app. The program will then generate a QR code that can be scanned at automated fare collection (AFC) gates. As a result, riders won’t need plastic fare cards, or have to wait in line to top them off.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.