Connecting the dots in Payments Weekly Newsletter
Connecting the dots in payments...
Connecting the dots in Payments...
?? SPONSORED CONTENT
REPORT
Mobile wallet-based Payments are overwhelmingly funded through UPI, rather than cards (or other sources).
As a result, the huge potential growth in the market is disproportionately going to benefit the wallet providers, rather than the banks.
?? NEWS HIGHLIGHT
Let’s dive into the key stats: ? Payment volume increased by 25% ? Number of debit cards increases by 33% (to now around 16 million) And perhaps surprising to the German audience: the acceptance of Visa cards now exceeds that of the traditional German bank cards.
?? ARTICLE
???? BLOG
Thomas Warsop, President Chief Executive Officer at ACI Worldwide, shares his views.
??INSIGHTS
This 6-step diagram shows the economics of the credit card payment flow:
Sequoia Capital has retracted its request to remove Michael Moritz as chairman of Klarna’s board, according to emails reviewed by The Information. Sequoia partner Matthew Miller, the director who in recent days had asked Klarna shareholders to remove Moritz, is instead leaving the Klarna board.
Haris Karonis has begun legal proceedings against the Wall Street bank over what he claims are tactics to suppress his company’s growth.
Haris Karonis, who founded Greek payments company Viva Wallet in 2000, said he believes JPMorgan is trying to drive down the valuation of his business by blocking its entry into the US and new European markets, according to legal documents seen by the Financial Times.
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
领英推荐
?? PAYMENTS HIGHLIGHTS
?? 2023 was a very impressive year for BLIK Payments.
?? REGIONAL HIGHLIGHTS
UK ????
Klarna’s CEO embraced AI by telling OpenAI’s Sam Altman. The IPO-shaped elephant-in-the-room, Siemiatkowski is clear on the plan, and flexible on the timeline: wants to take the fintech giant public .
Checkout.com hit by over ￡100 million in losses. The net losses of Checkout.com’s 2022 accounts are up 400% compared to the $25 million loss in 2021 . The London-based fintech reported a revenue of $246 million in 2022, a slight drop from $260 million in 2021.
OpenPayd partners with TrueLayer to bolster instant A2A payments. OpenPayd will leverage TrueLayer’s Open Banking software to boost its A2A instant payment offering across its UK and Europe client base .
EUROPE ????
Adyen and Billie partner up to bring Buy Now, Pay Later to businesses across Europe. Adyen helps merchants and their business customers tackle everyday hurdles in B2B commerce .
Adyen, a global financial technology platform for major companies, is expanding its partnership with Uber to incorporate the CB payment network for transactions in France .
Navigating cross-border payments: Insights from Mangopay. Around the world, national payment systems have embraced instant payments to bring speed and transparency to domestic payment networks.
Starting April, the iDeal Payment platform in the Netherlands???? will update to include new features like saving banking details and a Buy-Now-Pay-Later option.
Softpay accepts Dankort wallet payments. Softpay has announced that its tap-to-phone solution now supports Dankort wallet payments on iOS.
USA ????
Trice is a New Technology Provider for the RTP? Network from The Clearing House. Trice announced its launch as a technology provider and real-time payments gateway for the RTP? network from The Clearing House, with TransPecos Banks as Trice's partner.
Changes to Merchant Initiated Transactions on Apple Pay Tokens. Traditionally, after cardholder verification, a device-specific network token (DPAN) replaces the customer's Primary Account Number (PAN) in Apple Wallet.
CANADA ????
Engage People Reports Substantial Growth in Pay with Points Transactions, New Members in 2023. With more than 23.3 billion points redeemed in 2023 across its Access Plus network .
LATAM
Colombian payments startup Bold raises $50m. The startup boasts more than 150,000 monthly active merchants as it works to foster financial inclusion through the democratisation of Colombia’s digital economy.
Mind blowing numbers from Brazil????: Over 42 Billion Pix transactions in 2023 - Approximately 4.8 Billion Pix transactions in December alone. Pix continues its sharp upward trajectory quickly approaching 5 billion monthly transactions .
Stark Bank, one of the few Latin America startups to receive funding from Jeff Bezos’ family office, is generating profits from its business of helping companies handle payments , while leaving cash raised from its funding rounds nearly untouched.
Nuvei Launches Direct Local Acquiring In Colombia. Simplifying payments relationships in Colombia enables eCommerce businesses to maintain greater control over transaction flow management.
ASIA
Contact, Al Ahly Momkn partner to improve payment services in Egypt. This partnership reflects the shared vision of the two companies to facilitate payment operations for customers through Al Ahly Momkn’s branches and points of sale across Egypt.
India is grappling with implementing rules to limit the market share of PhonePe and Google Pay in the UPI payments network to 30%, aiming to reduce their combined 83% control.
Visa, Checkout.com and Stake launch innovative cross-border funding solution for real estate investment in UAE. This cutting-edge solution simplifies the complex global digital payment landscape, ensuring seamless and convenient investments from anywhere in the world .
QCB to Launch Instant Payment Service 'Fawran' in March. It is in alignment with the 3rd Qatar Financial Sector Strategy (FSS) and a complement to the QCB's efforts aimed at upgrading the payment.
PayPal registers with FIU under AML law. PayPal registered as a reporting entity with the Financial Intelligence Unit across India .
AUSTRALIA ????
Afterpay says it has no plans to shake up its Australian brand, despite reports its American operation will be merged with peer-to-peer payments platform Cash App , and payment experts flagging significant regulatory changes at home in 2024.
AFRICA
SA fintech startup launches WhatsApp payment bot. WigWag is a new entrant into the payment space, having launched in September 2023 . Its parent company Stitch is focused on the enterprise market and enables businesses to accept.
MOVERS AND SHAKERS
PPRO, a leading digital payment platform based in London, has announced the appointment of two senior leader . Eelco Dettingmeijer as Chief Commercial Officer and Mariette Ferreira as Chief Marketing Officer.
TerraPay Appoints Visa Direct’s Ruben Salazar As President. The move sees Salazar take up the role and comes at a time when TerraPay is looking to expand beyond its core markets .