Revolut supports direct debits in the UK

Fintech startup Revolut is adding a key feature for users who want to replace their traditional bank account altogether. You can now pay with GBP direct debits. Revolut already added EUR direct debits last year.

While most people use cards to pay for goods and services in the U.K., some businesses require you to pay with direct debit. It can be a utility bill, a gym membership or a phone contract for instance.

Compared to card transactions, direct debits pull money directly from your account and transfer it to the recipient’s account. It doesn’t go through Mastercard or Visa. Some businesses love direct debits because it’s usually cheaper than card processing fees. Direct debits also don’t have an expiry date, unlike cards.

Customers from the European Economic Area can now share their GBP account details for direct debits in the U.K. Direct debits are protected against some fraud and payment errors by the U.K. Direct Debit Guarantee.

Revolut has partnered with Modulr for this feature as it uses Modulr’s API. Business customers will also be able to take advantage of direct debits. You can now pay suppliers with your account details, which could be convenient for large sums of money for instance.

from TechCrunch https://ift.tt/2sopxuK

Comments

Bill Gates steps down from Microsoft’s board to focus on philanthropy

In an announcement on Friday, Microsoft revealed that company co-founder Bill Gates has decided to step down from his role on its Board of Directors in order to focus on his philanthropic efforts at the Bill & Melinda Gates Foundation. This is Gate’s biggest change to his role at Microsoft since stepping down as company chairman in February 2014. According … Continue reading from SlashGear https://ift.tt/2We90Gu

World Economic Forum launches Global AI Council to address governance gaps

The World Economic Forum is creating a series of councils that create policy recommendations for use of things like AI, blockchain, and precision medicine. Read More from VentureBeat http://bit.ly/2EKBjD4

The Flexible Permanence of Copper Tape Circuits

Somewhere between shoving components into a breadboard temporarily and committing them to a piece of protoboard or a PCB lies the copper tape method. This flexible Manhattan-style method of circuitry formed the basis for [Bunnie Huang]’s Chibitronics startup, and has since inspired many to stop etching boards and start fetching hoards of copper tape. [Hales] hit the ground running when he learned about this method , and has made many a copper tape circuit in the last year or so. He offers several nice tips on his site that speak from experience with this method, and he’ll even show you how to easily work an SMD breakout board into the mix. Generally speaking, [Hales] prefers plywood as the substrate to paper or cardboard for durability. He starts by drawing out the circuit and planning where all the tape traces will go and how wide they need to be. Then he lays out copper traces and pads, rubs the tape against the substrate to make it adhere strongly, and reinforces joints and laps w...

All Things Tech

Search This Blog