Tag Archives: transaction

Nuapay expands its Open Banking platform throughout Italy and Germany | Instant News

Open banking pioneer Nuapay, empowered by Sentennials, today announced the expansion of open banking payment capabilities to German and Italian banks.

The Nuapay expansion will allow German and Italian partners to offer an open banking payment solution, which supports seamless 2-account payments for their customers.

The launch connected 308 banks in Italy and 435 banks in Germany to the Nuapay Open Banking platform, connecting 134 million European accounts and reaching 98% and 70% of payers in each country. This adds to Nuapay’s existing open banking connections in the UK and France, which account for more than 90% of payers in these markets. In the coming months, Nuapay’s payment integration will expand to other European markets, including Spain, making it one of the leading open banking payment platforms in Europe.

Germany has long shown a preference for cash over digital alternatives. However, the pandemic saw a shift in consumer preferences indicating that the market is ripe for innovation.

Meanwhile in Italy, even before the pandemic hit, the government was trying to increase the use of digital payments by citizens to tackle cash-related fraud. Before the pandemic, 86% of Italian transactions were conducted using banknotes and coins, according to central bank estimates. However, research shows that the market has seen a staggering 80% increase in mobile payments in 2020 compared to 2019. The government is also encouraging consumers to use digital payments with a Christmas cashback campaign. The cashback initiative launched over Christmas asks users to register their payment method on the IO app – a new government app to provide access to public services and benefits – to receive a 10% automatic refund on every transaction from the state.

Nick Raper, Director of Nuapay, comments: “Allowing access to safe and efficient Open Banking payments in Germany and Italy came at a perfect time as the pandemic put the final nail in the coffin. Access to Nuapay’s Open Banking connection, through our platform, will enable businesses to avoid high card payment fees and provide customers with safer payment options. As Nuapay is the only Open Banking provider with a fully inclusive payment solution, including integrated money transfers, refunds, recurring payments, full installment and reconciliation plans, partners are empowered to provide customers with innovative payment experiences, and expand their service offerings. . ”

Nuapay’s Open Banking Platform also received “Best Use of Open Banking in Merchant Payment Ecosystems” at the recent Merchant Payment Ecosystems Conference (MPE), which is usually held in Berlin annually. The award, announced at a virtual conference on February 23, 2021, recognizes the features and functionality built into the Nuapay Open Banking platform that enables Payment Service Providers (PSP) and Merchants to reap the benefits of open banking payments.

Demonstrating its continued commitment to growing its payments business across Europe, Nuapay has obtained a second EU Payment Institution license from ACPR – the French banking regulator. The license allows Nuapay to continue to offer its payment services in a post-Brexit world to more than 1,000 EU clients.


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The non-cash bank transaction generated taxes of Rs4.68mth in 7 million | Instant News

KARACHI: The collection of income tax on non-cash banking transactions increased 8 percent to Rs 4.68 billion in the first seven months of the 2020/2021 fiscal year, even though the virus lockdown caused economic bottlenecks, officials said Friday.

This under-head collection totaled Rs4.32 billion in the same months of the last fiscal year, according to official statistics of the Karachi Large Taxpayer Office (LTO).

Officials at LTO Karachi said this growth was significant because economic activity was not very significant during that period.

But they added that the ease with which coronavirus curbs revived commercial and industrial activity, ultimately increasing transactions in the banking system.

Banking system deposits increased 16.5 percent to Rs17.085 trillion at the end of January 2021, compared to Rs14.672 trillion in the same month last year.

Withholding tax is imposed on people who conduct banking transactions other than cash who have not filed an annual tax return and are not included in the Active Taxpayer List (ATL), the official said, withholding tax on non-cash transactions only applies at 0.6 percent. in those people, who don’t show up on ATL.

They said that despite a significant increase in the number of active taxpayers, the tax cut recorded good growth.

The number of reporters for the 2019 tax year increased to a record high of 3.1 million. The ATL for the tax year will remain in effect until February 28, 2021 for the purpose of reducing withholding taxes under various provisions of the 2001 Income Tax Ordinance. The number of reporters in the 2018 tax year was approximately 2.9 million.

The government introduced a tax withholding provision through the 2015 Finance Law and Article 236P was recently incorporated into the 2001 Income Tax Ordinance. This provision aims to increase the burden on those who do not apply for SPT.

Withholding tax levies on non-cash banking transactions increased 5 percent to Rs651 million in January 2021 compared to Rs620 million in the same month last year.


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Yodlee launches credit decision-making technology to Australia and New Zealand | Instant News

Envestnet | Yodlee (NYSE: ENV), the leading data aggregation and data analytics platform for digital financial services, today announced the launch of its dedicated Australia and New Zealand responsible lending product, Envestnet | Yodlee Credit Accelerator.

This offering will enable financial service providers to access fast and accurate consumer data to make smart lending decisions.

The current credit evaluation process is manual, fraud can occur, is vulnerable to the use of outdated bank reports, resulting in high operational costs and inaccurate reports. For Australian and New Zealand financial institutions and FinTech innovators, Envestnet | Yodlee Credit Accelerator can quickly and cost-effectively provide a complete, accurate, and real-time financial picture of borrowers. This technology takes advantage of flexible, consumer-permissible and secure data acquisition that enables financial service providers to produce comprehensive reports that include income and expense summaries that demonstrate compliance with Responsible Lending guidelines. It also helps to identify major credit risk and lifestyle factors, such as whether the applicant has children, eats out regularly, pays bills on time or pays large amounts of interest on their credit card.

Powered by Envestnet | A market-leading aggregation of core data and Yodlee’s machine learning capabilities, Credit Accelerator categorizes and enriches income, expenses, and transfers, creating deeper and more accurate credit insights. This intuitive technology will allow for multiple, automated and curated feedback points, which will increase categorization, and adapt it to credit use cases and internal schemes or regulations. In addition, there are options for lenders to build Envestnet | Yodlee’s advanced API technology into their application or service.

For consumers, the automatic and easy retrieval of financial data from this technology will eliminate the need to submit written reports. This will also increase confidence in the accuracy of loan decisions, knowing lenders can see their complete financial picture. Subsequently, reports were generated by Envestnet | Yodlee Credit Accelerator will increase the speed of receiving loans, because credit decisions and loan disbursements can be tracked quickly with this complete and easily accessible financial picture. To date, obtaining a complete understanding of the applicant’s expense and income history to meet Responsible Loan guidelines can take weeks, even months. Envestnet | Yodlee Credit Accelerator can pull up and present data reports in less than ten minutes.

Poskitt Team, Country Manager, Australia and New Zealand at Envestnet | Yodlee said “the responsible lending landscape in Australia and New Zealand is in a potential transition period with governments proposing to write off their responsible lending obligations (RLOs) to boost economic growth after COVID-19. Therefore, the need to use technology and data to help make accurate and insightful decisions has never been higher. This new technology provides immense strength to financial service providers and consumers as they can feel secure knowing that accurate decisions are being made. ”


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Deal: Low prices hit Apple’s 2020 21.5-inch iMac ($299 discount) and M1 MacBook Pro ($100 discount) [Updated] | Instant News

Today, we are tracking discounts on Apple’s MacBook series and 21.5-inch and 27-inch iMacs. These sales are located on Amazon and B&H Photo, and discounts are fully applied automatically, so you don’t need any specific coupon codes to view discounted prices.

Note: MacRumors is a member partner of some of these vendors. When you click on the link to make a purchase, we may receive a small payment, which helps us keep the website up and running.


Amazon will launch Apple’s 21.5-inch iMac (3.6 GHz quad-core, 8GB RAM, 256GB SSD) in mid-2020 for $999.99, Less than $1,299.00. This is the highest price we tracked on this iMac and a good entry point for smaller screen models.

iMac blue isolation

The price of the 6-core model is $ 1,349.00, Less than $1,499.00, which is a 21.5-inch iMac (Match in B&H Photo).

After switching to the 27-inch model, Amazon will use a 27-inch iMac (3.3 GHz 6-core, 8GB RAM, 512GB SSD) from mid-2020 for $ 1,799.99, Less than $1,999.00. After applying the automatic coupon on the checkout screen, you will see this sale price, which is another match to the historically lowest price for this model.

Finally, B&H Photo is equipped with a 27-inch iMac (3.8 GHz 8-core, 8GB RAM, 512GB SSD) for $ 2,149.00, Less than $2,299.00. This is the lowest price ever and is only available on B&H Photo this week, and it shows an estimated delivery date in the United States on February 17.

M1 MacBook Pro

You can buy M1 13-inch MacBook Pro (256GB) $ 1,199.00 It’s down from $1,299.00 on Amazon. This is one of the best ongoing discounts for the new M1 MacBook Pro. Match in B&H Photo.

$100 off M1 Macbook Pro

If you are buying a 512GB model, you can buy this version of M1 MacBook Pro for $ 1,399.00, Less than $1,499.00.This transaction is also Match in B&H Photo, And all models can be shipped today.

Keep up with the best discounts on all Apple products and related accessories this week in our dedicated service Apple transaction summary.

Update: This article has been updated to reflect the greater discount on the 21.5-inch iMac, which is priced at $999.99.


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NAB begins an investigation into the bank transaction | Instant News

KARACHI: The National Accountability Bureau (NAB) has started an investigation into a suspicious bank transaction against the wife of a senior Sindh government official.

The Executive Board Meeting (EBM) of NAB on April 24, 2020, has permitted an investigation into Aalia Amir, wife of Aamir Khurshid, Managing Director of the Lyari Development Authority (LDA), for transactions (sending and receiving) in her personal bank account totaling millions of rupees. These are to and from the different business accounts of travel companies, arms dealers and builders.

An NAB source said the investigation was carried out after receiving a Suspicious Transaction Report (STR) from the relevant bank and the State Bank of Pakistan regarding a dubious transaction in Aalia Amir’s account.

Deputy Director of Investigation of NAB Karachi Wing-II, Syeda Rumla Naqvi, sent inquiries to different businessmen including Afzal Khan Niazi, Bushra Farooq, Muhammad Bilal Shaikh, Hilal Shaikh, Nihal Shaikh, Muhammad Afzal, Arshad Karim, Anwar Ahmed, Muhammad Afnan and others others to get and send millions of rupees to Aalia Amir, wife of Aamir Khurshid, a senior official of the Sindh government.

In an official letter, a copy of which is available with The News, the businessman was told to appear before the NAB Karachi authorities and submit documents explaining the justification for the transfer of amounts from defendant Aalia Amir’s account to their account, documents describing the source of income, documents describing business activities and past 10 years operating income, details of assets and bank accounts.


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