All articles by Louise Naughton
Louise Naughton
eWise secures $14m in funding
Online financial management solutions provider eWise has secured $14m in its latest financing round thanks to its simple yet disruptive proposition. eWises latest round of investment will accelerate the expansion of its online banking enabled payment networks (OBePs) Secure Vault Payments (SVP) in the US and eWise payo in the UK. eWise is also due to unveil a mobile solution, which will be piloted this year.
Sluggish take-up of e-invoicing not a technology fault
Slow e-invoicing adoption is down to corporates reluctance to change their payment behaviour and is not the fault of the technology available in the market.Rolant Prins, CCO of Dutch-based e-commerce solutions provider Adyen told Electronic Payments International e-invoicing is something both the payments industry and corporates have been talking about for over ten years yet the momentum to adoption is evidently painfully slow to build.
Large firms falling behind mid-size in invoice management
Payment processes are less expensive and time-consuming for mid-size companies as a study shows they are outperforming their larger contemporaries in invoice management. YouGovs research, conducted on behalf of information management company Iron Mountain, shows many companies in the UK, France and Germany are struggling with out-dated processes and inadequate controls in invoice management.
State Treasury of Finland leads the way in e-invoicing
The State Treasury of Finland is being heralded as leading the way in e-invoicing adoption by rolling out a free-of-charge service to those companies that have not yet migrated to the payment method. Through a deal with purchase-to-pay solutions provider Basware, suppliers that previously have had no access to tools for delivering e-invoices, will be able to send their invoices to the State Treasury of Finland via its wholly subsidised Basware Supplier Portal.
Western Union acquires Finint
Western Union is set to acquire one of its leading money transfer network agents in Europe Finint for an undisclosed sum. Finint currently manages more than 10,000 sub-agent locations across Italy, Spain, and the UK. Western Union already owns 30% of the company and has reached an agreement to acquire the remaining 70%.
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Crédit Agricole offers Experian’s SEPA data tools
Credit Agricole CIB has teamed up with data analytics firm Experian as corporate demand for meeting SEPA data requirements increases thanks to the initiatives deadlines looming ever closer Under the agreement Credit Agricole CIB, the corporate and investment banking arm of the Credit Agricole Group, will provide its corporate banking customers with Experians global payment validation and automated data conversion tools. Customers of Credit Agricole CIB that choose Experians services will be able to validate and convert their existing payment records to the required IBAN and BIC formats across the SEPA region
E&Y warns EU SMEs not to ignore e-invoicing
European businesses should not adopt an anything goes attitude to invoicing while current European Union (EU) legislation does not force e-invoicing migration as tax authorities are catching on to the potential the payment method can bring. The warning comes from professional services firm Ernst & Young in its Indirect Tax Briefing report dated April 2011.
Cheque obituary premature?
A lot has been made of the difficulties cheque displacement will cause for small businesses but a tougher question is what alternatives will be offered to individuals, particularly older people, who rely on cheques. The answer, finds Louise Naughton, could well be another paper-based payments solution
Trusted transfers
The Federal Reserve has proposed a new rule that would require remittance companies in theUS to disclose to the sender the exact amount of money received by the recipient, But, asksLouise Naughton, will it really make a difference?
RBS migrates to SEPA Direct Debits
The Royal Bank of Scotland (RBS) has launched Single Euro Payments Area (SEPA) Direct Debits via its online banking service for UK clients.Upon migrating to SDD organisation no longer require multiple bank accounts or a range of complex payment instruments to make cross-border collections across Europe.