Hastee Card disrupts the conventional payroll cycle to give workers the ability to access and spend their earnings in real-time, as they earn

Hastee, the Earnings on Demand company, today announces the launch of the world’s first Earnings on Demand contactless debit card, powered by Visa. Hastee Card enables users to access and spend their accrued earnings in real-time, as they earn it, anywhere in the world, with the card’s balance dynamically increasing as earnings accrue.

Hastee launched the UK’s first Earnings on Demand solution via an app in August 2017; working with employers, its technology gives workers the ability to withdraw up to fifty per cent of their daily salary to their nominated bank account, on the day they earn it. Hastee Card builds upon and enhances the user experience by reducing friction and offering immediate spending power as well as a path to greater benefits such as cashback and rewards in the future.

James Herbert, Founder and CEO at Hastee, said: “Now more than ever, workers in every sector need fast and flexible access to the money they earn. The effects of COVID-19 have emphasised that current payroll systems leave many struggling for the liquidity they need at pivotal points in the month. Hastee Card is the natural evolution of the work we have been doing to help support workers and employers in the UK, and we’re excited to be spearheading a solution that revolutionises an outdated process and brings greater financial wellbeing to those who need it the most.”

The card offers the first use of ‘Buffer’ technology from end-to-end banking and payments solution provider Contis. The technology allows Hastee to dynamically assess a user’s accrued earnings from their employer when they use the card to make a payment and, provided they have sufficient earnings available, immediately delivers the spending power needed to complete the transaction. Buffer technology assesses both accounts, runs an almost instant approval process, and completes the transaction with funds from the second account, providing a seamless customer experience.

Hastee’s mission is to provide workers with the financial freedom they need to meet today’s challenges, as well as to help build a better and more productive UK economy for all. Research has shown that a lack of access to financial liquidity leads to stress and poor financial decisions. Hastee’s 2019 Workplace Wellbeing Study showed that up to 74 per cent of the 2,000 employees surveyed across the UK had suffered personal finance-related stress. Further, up to 82 per cent of UK workers rely upon high-cost credit between paydays to make ends meet, despite 38 per cent knowing they will struggle to keep up with repayments.

Hastee is available at zero cost to employers and can integrate with payroll systems within minutes. The card is in its final trial phase and is fully compliant with the Financial Conduct Authority (FCA). The initial roll out will commence in June 2020.

The post Hastee Launches World’s First ‘Earnings on Demand’ Card appeared first on The Fintech Times.


UK cycling figures reveal their dream bikes
UK cycling figures reveal their dream bikes
Bradley Wiggins at the 2012 Olympic Games (Photo by Christophe Ena – IOPP Pool Getty Images)

Simon Richardson waxes lyrical about the UKSI bike, and asks other industry figures about their own dream machines


New platform enables SMEs to simplify how they build a trusted value chain, conduct secure payments, manage cash flows and simplify back office functions.

Today, Mastercard and Octet Europe announce the launch of a new trade solution across the European Economic Area (EEA). The Mastercard Trade Solution powered by Octet Europe helps small and medium-sized enterprises (SMEs) grow their business by managing any business transaction in a safe, real time and more efficient way. Powered by Octet, the Mastercard Trade Solution facilitates domestic and cross border trade by enabling a trusted value chain, secure payments, management of cash flows and simplifying back office functions thereby supporting economies globally by powering the vital SME sector.

SMEs are an indispensable part of our economy, accounting for two thirds of jobs in most countries and driving greater economic inclusiveness. Expanding international or “cross border” trade is a key driver of many SMEs’ performance and competitiveness. Despite their critical role in the economy, however, small businesses are underrepresented in international trade: only a quarter of European SMEs export. To help these small businesses integrate into the global economy and fulfill their potential, Mastercard and Octet Europe have teamed up to provide a tailored solution.

The Mastercard Trade Solution is directly accessible and encompasses Octet Europe’s state-of-the-art, cloud based B2B trade platform, which thoroughly reviews each company in its network. Specifically, all members transacting on the Octet platform are extensively verified via industry-leading Anti-Money Laundering (AML), Know Your Customer (KYC), Counter Terrorism Financing (CTF) and Economic Trade Sanctions (ETS) processes to reduce the risk for all parties in the network. This provides peace of mind for SMEs who want to find new business partners abroad and access foreign markets.

One additional challenge for small businesses’ is access to finance. To overcome this, the new trade solution enables SMEs to use their Mastercard cards as powerful tools to manage their cashflows and pay any suppliers to grow their business, while enjoying their valuable card benefits and reward points. Mastercard Trade Solution and Octet Europe are able to leverage Mastercard for payment services. The platform provides greater flexibility on the preferred payment method for businesses. In practical terms, this means that buyers have the choice to pay by card even if the supplier doesn’t process card payments; meanwhile sellers can accept payments to their bank accounts regardless of how the buyer chooses to pay. This flexibility empowers companies to transact in their preferred way, be it by card or another payment method, thus enabling them to manage their finances more effectively and conveniently.

The tool also helps small business owners manage and simplifying multiple tasks by enabling them to track, validate and authorise every step of a business transaction and settle B2B purchases using cards (debit or credit) with full visibility of all supporting trade documentation.

Milan Gauder, Executive Vice President of Product and Innovation at Mastercard Europe noted: “Small business owners can incur a lot of expenses by running detailed background checks on their supply chain, especially if it involves cross-border suppliers. This in turn can limit their willingness and ability to grow their business internationally. The Mastercard Trade Solution powered by Octet will help the vital SME sector thrive in the global economy by unlocking their potential with flexibility, confidence and peace of mind. At Mastercard, we are committed to remaining the partner of choice for businesses of all sizes and to powering economies.”

Margrith Lutschg-Emmenegger, CEO and Co-Founder Octet Europe noted: “We are excited and delighted to be partnering with Mastercard and see tremendous potential in making our unique product offering available to SMEs across Europe via their powerful partner network. It is an exceptional opportunity to create more usage of corporate cards for procurement and trade, which will greatly support SME’s and their role in sustaining global supply chains.”

The post Mastercard and Octet Europe enable European small businesses to thrive in the global economy appeared first on The Fintech Times.


Fast-Growing Regtech Recognized for Potential to Impact the Compliance Industry and Fight Against Financial Crime.

  • World Economic Forum announced its selection of the world’s 100 most promising Technology Pioneers of 2020
  • CEO Charles Delingpole to participate in the 2020 World Economic Forum in Davos, Switzerland to help define the global agenda on risk intelligence and other key issues
  • ComplyAdvantage was chosen for its innovative contributions within the compliance industry and the fight against financial crime
  • ComplyAdvantage joins previous Technology Pioneers including Google and Palantir Technologies

ComplyAdvantage, a global technology company transforming how institutions manage their financial crime risk and compliance, has today been named a Technology Pioneer by the World Economic Forum.

Founded in 2014, ComplyAdvantage has rapidly made its mark on the compliance industry globally in combating money laundering and terrorism financing. The company applies proprietary algorithms and ontology to data sets using data science and machine learning in the development of the first global, connected database to tackle financial crime.

The World Economic Forum’s annual list is a selection of companies involved in the design, development and deployment of new technologies and innovation, and that are poised to have a significant impact on business and society. Previous recipients include Airbnb, Google, Palantir Technologies, TransferWise, Twitter and Wikimedia. ComplyAdvantage is one of only two regtech firms awarded this year.

“We’re honoured to be acknowledged as a Pioneer by the World Economic Forum,” said ComplyAdvantage Founder and CEO Charles Delingpole. “There is an estimated $2 trillion laundered globally every year. With criminals always being one step ahead, it is this money that facilitates activities like human trafficking and terrorism. Recognition from the Forum this year is confirmation our advanced technology is helping financial institutions put a stop to this financial crime.”

“The strategic focus of the Forum is promoting innovation as a way of tackling some of the most critical issues facing society as well as being a driving force for future economic growth. We look forward to contributing to the Forum dialogues on the financial crime challenge,” said Delingpole.

“We’re excited to welcome ComplyAdvantage to our 20th cohort of Technology Pioneers,” says Susan Nesbitt, Head of the Global Innovators Community, World Economic Forum. “ComplyAdvantage and its fellow pioneers are developing cutting edge technologies all over the world. Beyond their innovations, these firms are contributing greatly to improving the state of the world.”

Following the company’s selection, CEO Charles Delingpole will participate at World Economic Forum activities, events and discussions throughout the year. ComplyAdvantage will also contribute to Forum initiatives over the next two years, working with policymakers and private sector leaders to help define the global agenda on key issues.

The full list of Technology Pioneers 2020 can be found here.

The post ComplyAdvantage Named ‘Technology Pioneer’ by the World Economic Forum appeared first on The Fintech Times.


UCI to implement 'bubble' protocol at races in measure against coronavirus
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UCI to implement 'bubble' protocol at races in measure against coronavirus
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<div>UCI to implement 'bubble' protocol at races in measure against coronavirus</div>
Paris-Nice 2020 (Photo by Luc Claessen/Getty Images)

Cycling’s governing body outline how it will attempt to mitigate any positive cases during races

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