Connecting the dots in Payments Weekly Newsletter

REPORT

• Payment Gateway ?? Payment Orchestration .

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?? NEWS HIGHLIGHT

• Monkee's 'Save Now Buy Later' model gains momentum with new seven-figure investment .

Austrian FinTech startup Monkee, a pioneer in the area of "Save Now Buy Later" raised a seven-figure investment and is expanding its reach to over 150,000 account holders through a partnership with Vereinigte Volksbank Raiffeisenbank eG.

Monkee stands as a testament to mindful financial management, offering an alternative to the prevalent "Buy Now, Pay Later" model. With 300,000 app downloads and savings goals surpassing €250 million, Monkee highlights a growing awareness and need for a shift in personal finance paradigms.

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?? ARTICLE

• Over 220 million Pix transactions in a single day in Brazil ???? .

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??INSIGHTS

• Mastercard Plans to Raise Credit and Debit Card Fees by Over $250 Million Despite Settlement .

Almost immediately after agreeing to reduce “swipe” fees charged to merchants to process credit card transactions, Mastercard plans to increase fees for both credit and debit card transactions by more than $250 million this month.

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NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS

?? Brazil’s Central Bank Introduces Features to Identify Fraud Attempts Using Pix Aliases.

?? Nuvei receives Singapore MPI license .

?? Kueski, Mexico's Leading BNPL Provider, Unveils In-Store Mobile Payment Solution .

?? Klarna: 75 per cent of staff now use AI tools like ChatGPT as it looks at reducing hiring .

?? REGIONAL HIGHLIGHTS

UK ????

Ecommpay strengthens its position in the UK and EU by adding Bacs & SEPA Direct Debit capabilities. The strategic move allows Ecommpay to increase UK and EU market coverage by approximately 44% without cannibalising existing payment methods .

Klarna Late Fees Spark Uptick in On-Time Payments. The reduction follows Klarna’s addition of?late fees?last year, which a company spokesperson said has led to a 55% improvement in on-time payments .

EUROPE ????

Central banks explore tokenisation of cross-border payments. The central banks plan to join forces with the private sector for Project Agorá, exploring how tokenisation of wholesale central bank money and commercial bank deposits on programmable platforms can improve the monetary system.

Worldline and Tabesto launch 'all-in-one' payment kiosk. This collaboration combines Worldline’s extensive payment expertise with Tabesto’s proficiency in kiosk development to deliver a unique customer experience .

CAB Payments launches in Europe. CAB Payments Europe has secured a payment service provider licence with De Nederlandsche Bank N.V., to provide services in the Netherlands and the ability to exercise passporting rights to offer its services across the EEA.

Federal Antimonopoly Service (FAS) has escalated its confrontation with Apple by demanding answers regarding limited access to banking and payment service s for Russian users of Apple devices.

Trustly and Cross River Bank Find Success With Instant Payment Adoption. With this addition, Trustly’s merchants will benefit from new capabilities to optimize the routing of funds instantly via Cross River’s application programming interface (API) endpoint.

Credit Agricole and Worldline launch merchant payment service. CAWL, the new payment services brand for merchants in France, embodies the combination of?Worldline's technological expertise and offerings and services with Crédit Agricole Group’s?commercial performance and distribution power .

Hokodo Secures €100m Debt Facility to Facilitate €1.5BN of B2B Transactions Over the Next 2 Years. With this new financing, Hokodo will facilitate more than €1.5 billion of B2B transactions over the next 24 months .

USA ????

Klarna announced in an industry-first, the launch of a new online initiative - Wikipink - aimed at setting new standards for transparency and responsibility in the credit and lending industry.

Visa announced the launch of Subscription Manager, a new, all-in-one service for financial institutions to provide Visa cardholders with a simple, convenient way to track their subscriptions, all from the palm of their hands .

The Clearing House RTP network breaks instant payments records. The network experienced a record 76 million transactions in the first quarter, valued at $42 billion. March was also a record month with nearly 27 million transactions.

LATAM

PayRetailers receives license from Brazil’s Central Bank and strengthens its presence in the Brazilian payment market. PayRetailers will also be able to provide increasingly better services to its clients , following the strictest standards of the national regulator.

Automatic Pix 'goes through a difficult phase', says Central Bank (BC) president, Roberto Campos Neto, who stated that he aims to make automatic Pix available in November of this year.

ASIA

Telr granted in-principle approval for the Retail Payment Services & Card Schemes license from CBUAE. This historic milestone marks a pivotal moment in Telr’s journey towards revolutionizing the digital payment landscape in UAE .

MOVERS AND SHAKERS

Ingo Payments announced Becca Best as the new Chief Financial Officer. Becca has over 12 years of Financial and Operational leadership experience in both private and publicly traded B2B SaaS companies.

Blake Taylor has also joined the Ingo Payments team as new Business Development Representative. With a passion for helping others and a background in sales development with a Fortune 500 company , Blake brings invaluable expertise and enthusiasm to the Ingo Payments team.