Global Payments

Thyngs Teams With CDS Global; Alipay Partners With Turkish FinTech

global payments

Welcome to The Axis, your late look at payments news from around the world. Coverage includes Thyngs work with CDS Global to support contactless payments for subscriptions of magazines in the U.K. and Australia. Currencycloud is teaming with Lithuania’s Evarvest for cross-border payments, Alipay and ininal are working to help visitors from China connect with merchants in Turkey and BCS Global Markets is rolling out an international payments solution in the U.K.

In Australia and the U.K., Thyngs is working with CDS Global to support contactless payments for subscriptions of magazines, Thyngs said in an announcement. Inserts, packaging and leaflets can come with near-field communication (NFC) tags and quick-response (QR) codes to allow customers to sign as well as pay using their smartphones for their subscriptions. Their order information is subsequently transferred for processing to CDS Global. Mark Judd, managing director of CDS Global in the U.K. and Australia, said in an announcement that the technology could “create new marketing opportunities for our clients and optimise the subscription order process for their consumers.”

And global payments platform Currencycloud has teamed up with Evarvest, a startup based in Lithuania, Currencycloud said in an announcement. Evarvest is said to use the platform from Currencycloud to support cross-border payments for investors. Through the new tie-up, Evarvest will be able to scale from its initial five-country rollout and offer a seamless experience for users. Evarvest CEO Stephanie Brennan said in the announcement, “Currencycloud [has] been fundamental in supporting us to reduce our costs and providing a cross border payment and FX solution, so we can make investing accessible to the next generation of investors.” Evarvest offers a way for users to invest in bonds, stocks and exchange-traded funds (ETFS) “like a local” per the announcement.

In Turkey, merchants can connect with visitors from China through a partnership between Alipay and ininal, according to reports. The service will first come to the facilities of Dorak Holding, which is a firm that manages a number of merchants in Turkey and plans tourist activities. Consumers can make payments to scan a quick-response (QR) code at checkout card terminals. “Alipay is the most preferred payment method in China and is widely used by Chinese tourists overseas,” said ininal CEO Ömer Suner, according to reports, and the CEO also noted that “ininal will continue to work with powerful partners globally to bring advanced technology and services to Turkey.”

And, in the U.K., BCS Global Markets rolled out an international payments solution, according to reports. Through the service, institutional and corporate clients will be able to make secure and fast transactions across borders. The offering has 24-hour advanced functionality that institutions can tap into to execute FX transactions, check balances, check cash positions, authorize payments and receive payments. The solution offers corporate cash management functionality and supports multiple currencies per the report.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.