Payments

Global Payments Expands UK Presence with Takepayments Acquisition

Leave a Comment / Fintech, Payments, Retail /

Global Payments, a prominent player in the US payment technology sector, has made a strategic move by acquiring Takepayments, a UK-based provider of card payment solutions, in a transaction whose financial details were not disclosed. The acquisition, finalized according to a Companies House filing, underscores Global Payments’ commitment to bolstering its footprint in the UK’s […]

Global Payments Expands UK Presence with Takepayments Acquisition Read More »

Klarna’s $520 Million Sale Marks Strategic Pivot in Fintech Landscape

Leave a Comment / Digital, Fintech, Payments, Retail /

Klarna, the Swedish fintech giant, has recently announced the sale of its online checkout business, Klarna Checkout (KCO), to a consortium of investors led by Kamjar Hajabdolahi, CEO and Founding Partner of BLQ Invest, for approximately €485 million ($520 million). This strategic move marks Klarna’s departure from direct competition with major payment service providers (PSPs)

Klarna’s $520 Million Sale Marks Strategic Pivot in Fintech Landscape Read More »

Merchant Services and Payments – A Closer Look at Instant and Same-Day settlement

Leave a Comment / Fintech, General, Payments, Retail /

In the payments sector commerce, where digital transactions predominate, understanding the intricacies of payment settlement is crucial for merchants. This process, often unseen by customers, plays a vital role in ensuring the smooth transfer of funds from the purchaser’s account to the merchant’s business account. Payment Settlement Payment settlement represents the final stage of a

Merchant Services and Payments – A Closer Look at Instant and Same-Day settlement Read More »

Worldline UK Recognised Among The Times Top 50 Employers for Gender Equality 2024, Amidst Awaited Race Discrimination Trial at Subsidiary Payone

Leave a Comment / Employment, Payments /

Worldline IT Services UK Limited (Worldline UK), a division of Worldline SA [Euronext: WLN] specialising in payment services, has been distinguished in The Times Top 50 Employers for Gender Equality 2024 list, underscoring its commitment to gender inclusivity amidst ongoing race discrimination trial at its subsidiary, Payone GmbH. The Times Top 50 Employers for Gender

Worldline UK Recognised Among The Times Top 50 Employers for Gender Equality 2024, Amidst Awaited Race Discrimination Trial at Subsidiary Payone Read More »

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Open Banking: The Unsung Hero of Payments, Finds UK Study

Leave a Comment / Payments /

Recent research by emerchantpay reveals a surprising disconnect in the UK payments landscape: a majority of consumers are unaware of Open Banking despite actively utilizing it. The study, which polled over 2,000 UK consumers, indicates that over half have never heard the term “Open Banking,” yet nearly half of those individuals admitted to using it

Open Banking: The Unsung Hero of Payments, Finds UK Study Read More »

SensePass and Affirm Partner to Expand Payment Options and Boost Sales for Merchants

Leave a Comment / Fintech, Payments, Retail /

SensePass, a leading platform in retail payment orchestration, has announced a new partnership with Affirm to expand payment options for merchants. This collaboration allows merchants to offer Affirm’s flexible and transparent payment plans directly at the point of sale, enhancing the customer experience and potentially boosting sales. Expanding Payment Options for a Wider Customer Base

SensePass and Affirm Partner to Expand Payment Options and Boost Sales for Merchants Read More »

Keplin Group’s Expansion Paves the Way for Sustainable E-commerce with Seamless Payments

Leave a Comment / Fintech, Payments, Retail /

E-commerce solutions provider Keplin Group has solidified its presence in the West Midlands logistics scene by securing an additional 75,000 square feet of space at Meon Vale Business Park near Stratford-upon-Avon. This expansion builds upon Keplin Group’s existing 43,000 square foot unit at the site, bringing their total footprint to nearly 120,000 square feet. The

Keplin Group’s Expansion Paves the Way for Sustainable E-commerce with Seamless Payments Read More »

Boohoo’s Executive Bonus U-Turn: A Sign of the Times in Corporate Governance?

Leave a Comment / AML Compliance, Fintech, Payments, Retail /

Online fashion giant Boohoo has reversed its decision to award £1 million bonuses to three of its top executives. This dramatic U-turn comes in the wake of intense shareholder backlash, raising questions about the evolving dynamics of executive compensation and corporate accountability. The proposed bonuses, intended for CEO John Lyttle and co-founders Mahmud Kamani and

Boohoo’s Executive Bonus U-Turn: A Sign of the Times in Corporate Governance? Read More »

N26 Gets Green Light for Unrestricted Growth After Regulatory Scrutiny

Leave a Comment / AML Compliance, Fintech, Payments, Retail /

German neobank N26 has received a significant boost as financial regulator BaFin has lifted the growth restrictions imposed two and a half years ago due to concerns over money laundering and financial crime. This move signals a major turning point for the Berlin-based bank, which can now onboard an unlimited number of new customers starting

N26 Gets Green Light for Unrestricted Growth After Regulatory Scrutiny Read More »

Spotlight on ReceiptHero – Pioneering Digital Receipts for a Sustainable Future

Leave a Comment / Payments /

ReceiptHero, a leading FinTech startup, is revolutionizing the way merchants and customers handle receipts by transitioning from paper to digital formats. By seamlessly integrating structured purchase information with corresponding payment transactions, ReceiptHero offers a modern, eco-friendly, and secure solution for receipt management. What are E-receipts The ingenuity of e-receipts lies in their ability to transform

Spotlight on ReceiptHero – Pioneering Digital Receipts for a Sustainable Future Read More »

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Post-Brexit: data protection
Card processor sends sensitive data to wrong address
24 August 2022

Worldline SA subsidiary Payone GmbH has been accused of breaching data protection rules after it sent sensitive employee payroll information to the wrong address by accident. The Worldline Group holdS a 60% stake in the Frankfurt based company who have a small UK market presence.

In June 2021, one of Payone GmbH’s ex UK employees (the data subject) received a “potential data breach notification” from the firm advising him that his salary, National Insurance data, nationality (Special Category Data) was amongst various bits of information sent to an incorrect home address.

This included personal information such as the former employees name, age and address.  It also included details such as the date of birth and the amount of annual work bonus he received in his bank account amongst other identifiable data.

Payone GmbH confirmed that this document was sent out in error following an employee making a mistake when re-entering data processed by their third-party payroll provider.  The error arose when the employee was fulfilling an Article 15 GDPR request. The error was spotted by the data subject when he noticed in an email version of the document that the postal address was incorrect. An attempt to notify Payone GmbH of the error went in vain as the document was already irretrievably despatched.

The data subject was alarmed with the incident which exposed him to the possibility of fraudulent activity, amidst reasonable fears his data could end up on the dark web and used by criminals.  Habitually resident in the UK he complained to the Information Commissioner’s Office (ICO) in June 2021. He similarly raised the concern in Germany via The Hessian Commissioner for Data Protection and Freedom of Information (HBDI).

The ICO reprimanded Payone GmbH for the error in their final decision letter.
Similarly, the HBDI cited a violation of Article 5(f) of the General Data Protection Regulation (GDPR) relating to integrity and confidentiality.

The ICO stated in their July 2021 findings that Payone GmbH, “should take steps to ensure that all personal data records are accurate and up to date. Holding inaccurate information, such as addresses, does increase the risk of personal data breaches and poses risks to the security of information”.

The HBDI confirmed in their October 2021 findings that Payone GmbH had taken remedial action. They concluded that a monetary fine would not be imposed on Payone GmbH as they had taken technical and organisational steps in response to the data breach. Data subjects could now request their data in an autonomous portal.

The GDPR, which came into effect in 2018, gave the Information Commissioner’s Office greater powers to tackle data breaches. The new ‘UK GDPR’ charts its own course after Brexit whilst seeking to maintain EU GDPR adequacy.  In extreme scenarios, organisations face penalties of up to £20m or 4 per cent of their global worldwide turnover, whichever is more.

In the years prior to GDPR, the ICO fines were capped at £500,000.

The data subject said: “I am just glad I spotted it; they were going to resend the document again to another wrong address. Prior to Brexit the process would have been commenced via the ICO who in turn would liaise with the HBDI on the data subjects’ behalf; but I found myself communicating with both authorities separately which was an additional step but in the end was surprisingly
effective. Unfortunately, Payone GmbH again sent my incorrect address to the
Workers Pension Trust in January 2022, and documents yet again went to the wrong address. In my opinion they have not learned from the first time and my complaint is sitting with the ICO yet again”.

The former employee is pursuing a remedy under Article 82 UK GDPR via
the Court’s of England & Wales.

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