Carapay, a Realex Payments subsidiary, has been awarded a Payment Institution license from the Financial Regulator. The license is issued under the Payment Service Directive (PSD) which allows new companies into the European market without having a banking licence. The following description of Carapay is taken from the Realex Payments press release.

“Carapay will be accessible anytime, anywhere using any web or mobile device people can pay each other, pay businesses and shop online – safe, secure and in real time. Carapay can be used to pay bills, club memberships, school fees, dinners with friends or any other type of money transfer normally conducted using cheques or cash.”

Carapay is due to launch in early 2011. You can register your interest on the Carapay website.

Dave

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• Implications of Carapay

Following on from the release of their iPhone Virtual Terminal Application WorldNet TPS have announced the release of their iPay API. This API allows iPhone Application developers to embed card payments in their Apps, without having to use the Apple payment infrastructure.

At present Apple takes a 40% cut of any payments processed using their payment infrastructure. The iPay API from WorldNet allows developers to avoid these charges, instead they can use the merchants existing card acquiring bank. The result is that the in-app purchases are now opened up to a whole range of goods that could not be previously sold. More details available over on the WorldNet TPS Blog.

Dave

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