Global Payments

Network International Eyes London Listing; Vipps Teams With Nets For Bill Payments

Global payments

Welcome to The Axis, your late look at payments news from around the world. Coverage includes Dubai-based Network International’s potential future London Stock Exchange listing. BMP Festival Portugal has inked a deal with Event Genius for cashless payments, Canada’s Steinbach Credit Union has tapped into Samsung Pay for Interac transactions and Norway payment app Vipps has teamed up with the Nets payment network.

Dubai-based Network International is looking to make a London Stock Exchange listing, according to The Telegraph. General Atlantic and Warburg Pincus have a 49 percent stake in the company, while Emirates owns 51 percent. The firm enables companies to take digital payments via smartphones or computers — and in their stores. Simon Haslam, the company’s chief executive, said per reports, “Today’s announcement is an exciting next step in our journey and is testament to the hard work and commitment of all our employees.” The company was started as an Emirates bank division in the 1990s, with General Atlantic and Warburg Pincus taking a minority stake in 2015.

And BMP Festival Portugal has inked a deal with Event Genius, a cashless firm based in the U.K., for technology for its BPM edition scheduled for September in Portimão, Pollstar reported. The Event Genius service encompasses access control along with online ticketing. To purchase tickets and credits, event fans will make an online account. And, once they arrive, they will receive a wristband that has radio frequency identification (RFID) technology in exchange for their ticket. They, in turn, will be able to use credits toward drinks and food, among other offerings. BPM Festival and AMP’s Lost & Found Festival Director Jason Jennings said, according to reports, “It’s a big decision, we’re confident our fans will love it.”

In other news,  Canada’s Steinbach Credit Union has rolled out Samsung Pay for Interac transactions, according to reports. With the offering, clients can make withdraws from their savings and checking accounts at retailers that have the Interac Flash logo by using their Samsung smartphones. And, as it stands, the institution is one of three credit unions in Manitoba to offer the option. CCUA President and CEO Martha Durdin said, according to reports, “Samsung Pay offers Canadian credit union members yet another digital payment option that is simple, secure and convenient.” Durdin added, “The Canadian credit union sector strives to provide the latest mobile payment options to meet the evolving needs of our members.”

On another note, Norway payment app Vipps has teamed up with eFaktura invoicing solution provider Nets payment network to grow the number of payment options available to Norwegian consumers, according to reports. Through the tie-up, consumers will be able to pay bills and digital invoices via Vipps along with accessing mobile online banking. Vipps CEO Rune Garborg said, according to reports, “In the longer term, our ambition is to make the physical invoice obsolete. This partnership will create cost-savings for both corporates and consumers.”


New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.