payments
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fintech
PayPal
PayPal banks on white labelled services as Apple eats its lunch
PayPal’s CEO Dan Schulman said white labelled payments processing is a “strategic imperative” for the payments company – and it will “primarily focus on enabling unbranded processing” moving forwards. The move will also give it richer datasets from merchants as it expands, which PayPal can in turn use to power...
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Bank of England
RTGS
settlement
The Bank of England's settlement engine is getting swapped out soon. Is the market ready?
Six years after an exercise flagged the risks of a “prolonged technical outage” in the core settlement engine of the Bank of England, efforts to “seek to understand and mitigate legal barriers” to one proposed mitigation are unfinished – although progress on a core hardware and software replacement continues to make...
Enterprise IT
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central government
DWP
tenders
DWP goes to market for emergency IT payments infrastructure
The UK’s Department for Work and Pensions (DWP) is seeking a provider of emergency payment infrastructure to help make sure it can continue making 2.5 million payments daily worth some £3.7 billion per week. The new infrastructure should ensure it can continue making the payments to a...