French payment services provider Lemonway has recently expanded its leadership team with two key appointments in its finance and technology departments, aiming to bolster its management committee. Joining Lemonway’s executive team are Céline Bayer, appointed as Chief Technology Officer (CTO), and Nicolas Vigier, appointed as Chief Financial Officer (CFO).

Céline Bayer’s role as CTO involves streamlining Lemonway’s internal technologies and processes and leveraging artificial intelligence to enhance customer service. With previous experience at AI surveillance software firm Veesion and payment infrastructure firm Mangopay, Bayer brings valuable expertise to her new position.

Meanwhile, Nicolas Vigier takes on the responsibilities of managing Lemonway’s finance and human resources departments as CFO. With prior experience as CFO for merchant payment solution Payplug and roles at payment acceptance and services provider Ingenico Group, Vigier’s financial acumen is expected to contribute significantly to Lemonway’s strategic initiatives.

According to Antoine Orsini, CEO of Lemonway, these appointments mark a milestone in the company’s growth journey. Bayer and Vigier are poised to support Lemonway’s investment efforts aimed at enhancing the security, efficiency, and overall effectiveness of its solutions.

Established in Paris in 2007, Lemonway specializes in providing payment solutions to marketplaces and alternative finance platforms. Their offerings include wallet management, payment processing, and third-party payment capabilities, all within a regulated framework compliant with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

With a client base of over 400 marketplaces and management of more than 1.3 million wallets, Lemonway has emerged as a leader in the payment services industry. To date, the company has raised €50 million in funding, reflecting its strong position in the market.

Source: fintechfutures.com

BIS Invites Collaboration with Private Sector for Project Agorá

The Bank for International Settlements (BIS) is reaching out to financial institutions from the private sector to explore the application of tokenisation in wholesale cross-border payments. BIS – Fintech news

BIS calls on the private sector to join Project Agorá

The bank is actively seeking participants for Project Agorá, welcoming commercial banks, deposit-taking institutions, financial market infrastructures, and critical service providers to apply. The application window extends until May 31, with the final list of participants scheduled for announcement on August 9.

Project Agorá, initiated by BIS in April, aims to evaluate the feasibility of a multi-currency ledger for cross-border payments, as outlined in the private sector application form.

This project will assess solutions capable of consolidating tokenised commercial bank money and tokenised wholesale central bank money within a public-private programmable core financial platform.

“The implementation of such a platform could enhance the efficiency of the monetary system and introduce innovative solutions using smart contracts and programmability, while maintaining its existing two-tier structure,” states the bank’s invitation for participation.

Several prominent institutions, including the Bank of France, Bank of Japan, Bank of Korea, Bank of Mexico, Swiss National Bank, Bank of England, and the Federal Reserve Bank of New York, have already subscribed to the initiative. The Institute of International Finance (IIF) serves as the convener and intermediary for private sector participants.

Participants in the final cohort will be expected to contribute technical expertise to aid in the design of the platform and test various use cases for cross-border payments within a two-tiered banking system.

Cecilia Skingsley, head of the BIS Innovation Hub, emphasized the project’s aim to address the complexities inherent in integrating multiple payment systems, accounting ledgers, and data registries.

“We are committed to not only testing the technology but also evaluating its performance within the specific operational, regulatory, and legal frameworks of the participating currencies, in collaboration with financial institutions operating in those jurisdictions.”

Source: fintechfutures.com

dLocal, a prominent player in the cross-border payment sector with a focus on burgeoning markets, has unveiled an expansion of its collaboration with Deel, a leading HR and payroll platform, spanning 12 additional countries across Asia and the EMEA region. dLocal and Deel Extend Partnership to 12 Countries amidst Remote Work Surge

This expansion comes on the heels of a highly successful initial rollout across 19 countries in 2022, which witnessed a substantial surge in payment volumes and an impressive payment delivery rate of 99.97%.

Dan Westgarth, COO of Deel, remarked, “dLocal’s expertise in payments has been instrumental in our journey, and this significant expansion into high-growth markets is a testament to the quality of their services. We’ve been able to scale rapidly, on our terms, thanks to dLocal’s support.”

Under this enhanced partnership, dLocal will extend its services to Indonesia, Malaysia, Thailand, Vietnam, Ghana, Jordan, Kenya, Morocco, Saudi Arabia, South Africa, Turkey, and the United Arab Emirates. Additionally, dLocal will offer payout services in Brazil through PIX, a widely adopted instant payment method in Latin America.

Agustin Botta, Head of EMEA at dLocal, emphasized, “Our goal is to foster growth and opportunities for brands and individuals, and the collaboration with Deel perfectly aligns with this objective.”

Forging New Alliances

In addition to deepening its partnership with Deel, dLocal has recently forged alliances with other industry players. The company has partnered with Papaya Global, a leading payroll platform, to facilitate timely payments to employees, partners, freelancers, and suppliers in local currencies across the globe. By integrating dLocal’s payment capabilities into Papaya’s platform, the payment process is streamlined for their shared clients.

Furthermore, dLocal has joined forces with Ebury to bolster cross-border payments in Africa. Leveraging dLocal’s payment solution, Ebury can efficiently manage both incoming and outgoing payments while optimizing costs and delivery times. Additionally, dLocal provides extensive support to Ebury’s merchants navigating the complexities of emerging markets. As Ebury expands its footprint in these regions, the partnership with dLocal provides access to over 41 different markets through a single integration.

dLocal, a publicly traded company on NASDAQ, has successfully completed four funding rounds to date. In its latest and most substantial round in 2021, the company raised $150 million, achieving a valuation of $5 billion.

Source: financemagnates.com