In today’s FinTech news, Aussie BNPL firm Openpay is pulling out of the U.S. while security technology provider Giesecke+Devrient acquires the payment and identity solutions business of Valid USA. Plus, the European Commission (EC) is closing a consultation on Tuesday (July 5) about open finance.
Aussie BNPL firm Openpay Pulls Out of US
Australian buy now, pay later (BNPL) firm Openpay Group is pulling out of the U.S. after only a few months in the country. The U.S. was supposed to be the company’s main growth market, but rising interest rates coupled with a lousy economy prompted Openpay to pull back and it’s letting most of its U.S. staff go.
Facebook Pilots Ethereum, Polygon NFTs with Select Creators
Select creators on Facebook will soon be able to showcase their non-fungible tokens (NFTs) on Ethereum and Polygon. The move follows the social media giant’s NFT support for some creators on Instagram in May. There is no charge for creators to post or share NFTs, and for now, posts can’t be turned into paid ads.
Security Firm G+D Buys Valid’s Payment, ID Business
Security technology provider Giesecke+Devrient (G+D) has acquired the payment and identity solutions business of Valid USA. The acquisition includes two manufacturing facilities in Illinois and one in Indiana. Based in Germany, G+D has provided payment, connectivity, identities and digital infrastructure technology in the U.S. since 1990.
EU Commission Finds Ally in EU Banking Regulator on Open Finance
The European Commission (EC) is closing a consultation on Tuesday (July 5) about open finance, which it defines as third-party service providers’ access to business and consumer data held by financial sector intermediaries. Even before analyzing all the feedback from stakeholders, the EC already knows that it can count on the support of the European Banking Authority (EBA)
Small FIs Tap Third-Party Payments Providers to Fast Track Real-Time
In the latest edition of the Real-Time Payments Tracker®, PYMNTS takes a deep dive into the ecosystem of third-party payment providers that help facilitate the RTP network. All but 24 of the 251 financial institutions (FIs) participating in The Clearing House’s RTP network are enabled by a third party.
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