In today’s top news in digital-first banking, Transcard is rolling out an account-to-account (A2A) offering, while Banco Santander has closed a deal for Wirecard’s technology infrastructure. Plus, Revolut announced the debut of open banking for German users.
Transcard, the payments automation firm, is launching an account-to-account (A2A) offering that it indicates will bolster the speed and efficiency in which purchasers and sellers can trade funds and information, while also decreasing risk. Companies will be able to get an eInvoice at any time, approve the invoice with one click and schedule or immediately execute a payment with the new A2A payments offering.
Banco Santander has closed a deal for insolvent Wirecard’s technology infrastructure, which could be a final chapter in the disposition of the German payment processor’s property. Santander reportedly paid over $118 million for Wirecard’s technology platform and its other technological property. Santander agreed to buy “several highly specialised technological assets from the merchant payments business of Wirecard in Europe” per its own statement.
Revolut announced the introduction of open banking for its German users, who can now link their accounts at Commerzbank, Comdirect, ING-DiBa, Deutsche Bank and Sparkasse with the Revolut App and see all of their finances in a single location. The new open banking offering was created with the help of TrueLayer, which is based in the United Kingdom.
WhatsApp is getting another chance at getting a portion of the quickly expanding payments market in Brazil. Facebook’s messaging offering will soon get an approval to start offering peer-to-peer (P2P) payment offerings in Brazil, the head of the nation’s central bank said at a news conference per published reports. The official noted that the central bank has talked to other Big Tech companies such as Google about their interest in providing instant payment services in the nation.