PayPal has launched its PayPal Commerce Platform, helping businesses connect to its 277 million users worldwide.

The new platform, which will initially be available in the UK, France, Italy, Germany, Spain, and the US, brings together a set of technologies, tools, services, and financing – designed to meet the needs of marketplaces and ecommerce solution providers of all sizes.

Key benefits include:

- enabling sellers to accept transactions in more than 100 currencies;

-streamlining compliance by helping businesses meet the demands of local regulators across the 200+ markets in which PayPal operates;

providing protection against fraud using AI and ML.

PayPal plans to extend the PayPal Commerce Platform to more than 40 markets by the end of 2019.


Facebook has reportedly landed Visa, Mastercard, Paypal and Uber as founder members of its forthcoming stablecoin ecosystem.

Facebook has been rapidly moving forward with its crypto plans, reportedly hoping to launch its 'GlobalCoin' by Q1 of 2020. The social media giant has been tapping up major financial services players for funding to support the development of the project and fend off wild swings in volatility.

According to the Wall Street Journal, the two card schemes along with Paypal and Uber have each invested $10 million into a foundation that will govern the coin. Other backers are said to include Stripe, travel-reservation site and Argentina-based e-commerce site MercadoLibre.

In return for their support, each firm will get a node on the network - on the face of it to ensure that no-one organisation has complete control over the currency - but also with a useful sideline of opening up unfettered access to user's transactional data.

Facebook reportedly plans to release a white paper introducing the coin and detailing how it will work before the month ends.

On the public policy front, Facebook has recruited a senior British corporate affairs specialist to front up its dealings with regulatory authorities as it pushes deeper into financial services. Ed Bowles, Standard Chartered’s European head of corporate and public affairs, will join Facebook in September as its London-based director of public policy.


June 3-5, 2019, the International Money 20/20 Conference was held in Amsterdam. Advapay took part in it along with dozens of leaders of the European and world fintech industry.

The Money 20/20 Conference is a major event in the fintech industry. It brings together leading representatives of the payment business from Europe and other parts of the world. Every year, industry leaders came together to share their achievements and share their experience with colleagues, as well as to build and strengthen partnerships.

This year the European part of the conference was held in Amsterdam, Netherlands. The program turned out to be rich and attracted over 5 thousand visitors from more than 80 countries. Among them are representatives of Mastercard, PayPal, Google, Visa, Barclays, etc. The main topics of the event were IT trends in finance, the development of financial services and new payment instruments.

This year, Advapay presented its subsidiary Advapay Software at the event.

Advapay Software provides IT solutions building services for fintech projects. The solutions are aimed at comprehensive automation of regulated payment systems (PI / EMI), fintech businesses, banks of the new format (neobanks). The offered solutions are implemented on the basis of the universal Canopus EpaySuite platform. They fully meet business needs and comply with regulatory technical standards (RTS), with the Payment Services Directive (PSD 2 EU) and the new rules for processing personal data (EU GDPR).

Conference participants were able to evaluate the functional advantages and features of the IT solution by Advapay Software.

According to Advapay Software representatives Gustav Korobov and Andrey Borisenkov, Money 20/20 is one of those events that should not be missed. At the conference we communicated with many partners and customers, made new acquaintances, shared experience and updated our knowledge of the development perspectives of IT solutions in the field of financial technologies.


Visa has officially launched B2B Connect, its distributed ledger-based, non-card platform for high-value corporate, cross-border payments.

Visa first revealed back in 2016 that it had teamed up with blockchain outfit Chain to develop Visa B2B Connect, improving B2B payments by providing a system that promises near real-time notification and finality of payment aligned with an immutable system of record over a permissioned private blockchain.

Now, the platform is live, covering more than 30 global trade corridors, with the goal of expanding into as many as 90 markets by the end of the year.

Visa has inked deals with FIS and Bottomline Technologies to bring the platform to bank clients as it seeks to take on interbank funds transfer network Swift and other emerging challengers such as Ripple.

Kevin Phalen, SVP, global head, Visa Business Solutions, says: “By creating a solution that facilitates direct, bank to bank transactions, we are eliminating friction associated with key industry pain points. With Visa B2B Connect, we are making payments quicker and simpler, while enhancing transparency and consistency of data.”


Money20/20 Europe dives deep into three debates that continue in boardrooms across Europe around the subject of cultural innovation, technology innovation and external innovation.

This year, the Amsterdam-based event gets into the core of what it means to innovate, what measurements can be used to benchmark what’s being done and unleash the financial industry’s next seismic shift.

Kicking off session on the Innovation Catalysis stage, Philip Clarke, founder, managing partner of HUNCH explores how despite 10 years of the democratisation of innovation, we not have “more apps, more hacks and more labs. Despite that, there has been some amazing transformation, but it has all been done by entrepreneurs, not financial services. Radical reinvention is what is required.”

RIP innovation

Somewhat summoning that death of innovation (and £400 beanbags), David Brear, CEO of 11:FS, highlights how although claiming to be innovative, financial services institutions and fintech startups are not delivering anything different; “innovation has become theatre. Digital banking is only 1% finished."

Brear goes on to explain that digital has just become a distribution point for analogue products and the attitude is one with the sentiment that there is no need to move forward beyond digitisation, but as Brear points out, there is much more to deliver. After questioning the audience on if there are any differences between banking now and in 1990, he highlights that almost nothing has changed, and the sadder reality is, £250 billion was spent on “innovation.”

Customers don’t care about these incremental changes to infrastructure and interfaces and “being consumers of the planet, they are painfully aware that financial services is being left behind.”

Brear continues: “Digitisation is being sold to people as the solution to fixing their problem,” and explains that it all started with branch banking, the paper and human model. This model was then digitised into internet banking, “which lost all humanity, warmth and 30% of functionality. Then came mobile banking; Brear asks whether a smaller screen and less functionality is really innovation?

While the financial industry can learn from other sectors such as the news and music industries, Brear points to how there has been a shift in benchmarking success, as before “the number of customers was the arbiter of success.” Alongside this, “Big Techs continue to be a looming threat and never admit to being on the banking battlefield. They have more customers and brands that people like. And it’s a killer when your customers don’t like you.

“This is not a love letter to fintech,” Brear states, but does advocate partnerships - there is 99% of digital banking left, after all. “Innovate is a dumb term. People do innovation for innovation’s sake. It is not about innovation, it’s about execution.”

Benchmarking innovation

This transformation from digitisation to digital continues to be discussed in the next panel session, where Josh Bottomley, global head of digital, data & development at HSBC, explains that at first, you need to decide which customer problems are you trying to solve, but this is difficult when “everyone thinks they’ve cracked it.”

Ginger Baker, senior director, product at Ripple, riffs on this point and says that innovation is about delivering after envisioning what you want your business to be in the future. “It’s about execution,” referring to Brear’s earlier point.

Bottomley continues: “Creating a development pipeline with regulation in mind is difficult, because one of the biggest challenges is the ability to manage ongoing challenges to regulatory processes. How do you get better at regulatory processes?”

Mastercard president, new payments platforms, Paul Stoddart highlights that banks have to try different approaches, but another problem also arises in the career life of someone with innovation in their title. “They don’t last long because the organisation within which they are expected to thrive is not ready and not conducive to the ideas that they bring.” He also makes a point on labs and benefits of partnering with fintechs, because then the innovation team is separate from the organisation.

Bottomley says that “there is not shortage of ideas,” but teams should not be put together to add features to existing products, “that’s not the heart of this multi-trillion dollar industry.” He explains that customers will continue to spend more on a credit card they can’t pay back later and will be persuaded by someone online that the latest cryptocurrency is the best investment for a pension. But how can banks help customers behave in such a way that truly prepares them for the long-term?

However, as Baker suggests, if there was a culture of innovation in place, processes would have been disrupted by now.

The playbook

Ruby Nimkar, principal at Greenhouse Capital, picks up on Brear’s point and says that innovation is quickly becoming an overused and distorted word, while banks are rebranding themselves as technology company.

She asks: how do you launch this seismic shift? How can incumbents tap into tech transform? How do we collaborate, rather than compete? Do incumbents start looking into create entirely new subsidiaries? Can cultural change be a catalyst for cultural change? Benoit Legrand, chief innovation officer at ING takes to the stage to answer all these questions.

But first, what is innovation? “Innovation is a mindset, not to promote yourself as an innovation manager but to bring value to the company by obsessing over the customer. It’s important to connect to the environment, be open and put the customer at the centre of everything,” Legrand says.

Focusing on culture, Legrand says that it is not about the technology, it is about the people. “As humans, we do not like change. We want everyone else to change, but not us, because we’re perfect.” Legrand then describes his Innovation Power model, which includes psychological safety, flexibility, pragmatism and leadership, but all these only work with each other dependant on the complexity of the organisation.

In addition to this, as the future is unpredictable, Legrand explains that humility, determination and perseverance is also needed. “You need courage to go against the trends.”