All articles by Louise Naughton
Louise Naughton
E-invoicing industry finds its voice
The e-invoicing industry is finally finding its voice as the long overdue European e-Invoicing Service Providers Association (EESPA) is expected to become a fully functioning legal body by the end of summer 2011. Over 30 firms providing e-invoicing services met on 5 May 2011 in Brussels to kick-start the new representative organisation.
Uganda’s remittance market hits UGX1trn
Ugandas remittance activity has had a record-breaking year with the amount transferred hitting one trillion Uganda shillings ($400m) during 2010.Figures from Ugandas central bank also shows the number of registered mobile money customers increased from 552,000 in 2009 to around 2m in 2010.
IDT develops international remittance clearing house
Retail and wholesale communications provider IDT Corporation has established an international remittance clearing house (RCH) for mobile network operators.The RCH will facilitate connectivity between traditional, cash-based, money transfer operators and mobile wallets by utilising IDTs transaction settlement and foreign currency services.
Bottomline receives SWIFT approval
Invoice and document automation solutions provider Bottomline Technologies has been approved by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to send and receive e-invoices as a service provider within its network. By connecting Bottomline’s business to business payments and invoicing network Paymode X to SWIFT, banks can send and receive e-invoices on behalf of any non-SWIFT members that are part of the Paymode-X network, which in turn will open up new opportunities for supply chain financing.
Western Union launches mobile app
Consumers in the US will soon be able to send money transfers directly from a mobile phone thanks to the newly launched Western Union iPhone app. The service will make its debut in the US but is expected to roll out to other markets in the future. It is now available for the iPhone, iPad and iTouch via the Apple App Store and plans are in place for the app to migrate to BlackBerry and Android devices, although no specific time period has been advised.
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Tradeshift receives $7m investment
Internet venture capital firm Norton Capital has invested $7m in e-invoicing technology provider Tradeshift in a valuation believed to be in the range of $80m to $100m. This fresh funding will help the company break into new international markets, including the US, reports the Financial Times.
Basware doubles its network participants
Purchase-to-pay solutions provider Basware has seen the number of active suppliers and buyers in its Open Network double in the last year. The total number of participants in Basware’s network rose from 160,000 in 2010 to 320,000 in 2011.
PayDivvy launches social billing platform
Social bill pay solution PayDivvy has launched a free online bill pay and group payment offering allowing users to view and pay bills via a single platform.The solution has been designed to eliminate the fragmentation that is said to exist in the bill payments arena today.
Western Union targets Filipino SMEs
Payment services provider Western Union has chosen to launch its international business payments service in the Philippines. Western Union Business Solutions aims to provide cross-border business payments and foreign exchange solutions to small and medium sized businesses.
Skrill launches gaming monetising engine
Online payments systems provider Skrill has entered into a preferred payment partnership with digital monetisation solutions company Live Gamer to launch an end-to-end monetisation engine designed for online game publishers.Live Gamer Payments by Skrill claims to provide game publishers and developers with a one-stop solution aimed at driving online revenues, maximising user acquisition and retention, developing and managing digital item sales and increasing user engagement.