Welcome to Fintech Fridays! The Fintech Times weekly roundup serves up something for the weekend – a shopping list of the latest deals, product launches and service updates.
Revolut and Natwest enable iPhone tap-to-pay
Global financial superapp Revolut has enabled Apple’s Tap to Pay on iPhone contactless payment acceptance technology for Revolut Pro and Revolut Business customers across the UK.
Revolut customers can now accept in-person, contactless payments with just an iPhone with no need for additional terminals or hardware.
James Gibson, GM of Revolut Business, comments: “We are excited to be amongst the first to enable Tap to Pay on iPhone for our business customers in the UK and to be providing this simple and secure solution that offers greater flexibility for accepting payments.”
Apple’s contactless payment acceptance technology is also now available to UK businesses via the NatWest Tap to Pay iOS app.
Merchants also benefit from an all-in-one NatWest Tap to Pay app that allows them not only to accept contactless payments but also to track sales and transaction history on their day-to-day business performance.
Revolut launches travel marketplace
Revolut has also launched ‘Experiences’ – an in-app marketplace for tours, activities, and attractions, giving users the opportunity to book their travel experiences directly in the Revolut app and receive up to 10 per cent cashback.
Available to Revolut customers in the UK and Europe, Experiences is the latest addition to the super app’s suite of travel products.
To start booking, existing customers can go to ‘Hub’ and click on ‘Experiences’ in the Revolut app. The expansion of Revolut’s suite of travel products comes as it recently launched a new membership plan, Ultra, which offers ‘Cancellation for Any Reason’ insurance.
Magnifi offers AI iinvestment management
Magnifi, the AI-powered co-pilot, introduces a new feature for its 20,000-plus subscribers, enabling AI assistance in managing investments across Magnifi brokerage accounts as well as external accounts.
This expanded capability empowers Magnifi’s AI investing assistant to offer comprehensive financial advice, encompassing all goals and assets for individuals.
Magnifi members can link existing brokerages to their AI assistant, including all the major players such as Robinhood, TD Ameritrade, E*Trade as well as Fidelity, Charles Schwab and Acorns.
Capalona launches new loan comparison engine for SMEs
North-Wales-based Capalona.co.uk has beefed up its business loan comparison service, which now includes example costs of lender products, rates, monthly loan cost, and total repayable.
There’s also now a ‘more details’ expandable panel to give borrowers more product information. Plus customers can also now see and compare rates from each lender and product they’re matched with at a glance.
Capalona works with various trusted UK lenders using open banking to assess borrower eligibility, providing real-time lending options.
US investing platform Public expands to UK
US-based investing platform Public has launched in the UK, its first international market. Public aims to be the go-to platform for UK investors seeking to invest in US-listed equities.
It offers over 5,000 stocks, deep data, and insights, with zero commission trading and low foreign exchange fees. The app provides additional features including custom company metrics, Morningstar research, and a community of millions of investors, all in one place.
UK members can access the Public app on iOS and Android devices, gaining access to a wide range of investment options. The platform’s emphasis on community engagement also fosters discussions among investors.
NatWest customers go Cogo crazy
More than half a million NatWest customers now access Cogo’s carbon impact data through the bank’s app.
Officially standing at 585,000 active users, this figure has risen by 334,500 in just four months.
The UK partnership between NatWest and Cogo officially launched in November 2021 to help customers learn about how their spending decisions impact the planet.
The carbon footprint feature shows customers the carbon impact of their day-to-day spending decisions, and encourages them to choose the greener option, with advice delivered through the app. Customers can also log their commitments and behaviour changes, to support motivation.