Connecting the dots in Payments Weekly Newsletter
Connecting the dots in payments...
Connecting the dots in Payments...
?? NEWS HIGHLIGHT
Ant Group has announced the closing of its deal to acquire Netherlands-based MultiSafepay for USD 200 million deal-sources, in order to expand into the Western market.?
Following this acquisition, Ant Group aims to accelerate its expansion process into the Western payment markets. The transaction is currently subject to regulatory approval, and it is expected to value MultiSafepay at around USD 200 million, including USD 50 million in revenue.?
?? INFOGRAPHIC
?? ARTICLE
Introduced in 2016, UPI quickly became one of the most popular digital payment methods in India, and recently hit the landmark figure of ???? ?????????????? (!) ?????????????? ????????????????????????.
Launched in 2020 by the Central Bank of Brazil (BCB), Pix has rapidly evolved as one of the primary payment methods in the nation.
Let's dive into each one:
??INSIGHTS
According to Watcher Guru, Google Pay has 67 million users in India, by far its largest single market – Google Pay has roughly 150 million users globally.
It has the second-largest market share on the paramount United Payments Interface payments rail and is now pushing into consumer and merchant lending.
In the context of India's digital finance market, Big Tech companies from the U.S. have generally lagged, particularly in FinTech.
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? PAYMENTS HIGHLIGHTS
?? OVO Network selects Mangopay to streamline holiday rental payments .
?? JPMorgan’s WePay abruptly dumps business customers .
?? HitPay delivers Tap to Pay on iOS in Australia, Canada, France, the UK, and the US.
?? Holiday shoppers spent $16.6B online using BNPL according to Adobe.
领英推荐
?? REGIONAL HIGHLIGHTS
UK ????
ACI Worldwide announced that U.K. retailer Co-op has successfully moved its full stack of payments and fraud prevention technology software into ACI’s multi-tenant cloud platform hosted in Microsoft Azure.
Pay with Bank transfer, powered by American Express, has announced its first utilities sector partnership with energy company OVO, one of the UK’s largest energy suppliers with four million customers.
Nearly quarter of Londoners turn to BNPL services as cost of living crisis bites. The Centre for Financial Capability has warned of the risk of using "wild west" credit services .?
EUROPE ????
Swiss payments fintech Rivero raises $7 million in Series A funding to step into new markets and boost its product development and workforce.
USA ????
Weave adds ACH Direct Debit to payments suite. With ACH Direct Debit, healthcare patients experience enhanced transaction security and healthcare providers can benefit from lower transaction costs.
Optty to offer customers Link Money's Pay by Bank tech . Optty’s collaboration will empower its US-based merchant clients and partners to leverage Link Money’s Pay by Bank solution.
X promises peer-to-peer payments, AI advances in 2024 . In an X blog post recently published, the company claims it will launch peer-to-peer payments this year.
Visa cracks down on surcharge programs . The company is boosting efforts to enforce surcharge rules, with non-compliance potentially resulting in fines up to $1 million, according to one card processor.
A Stripe secondary deal worth paying attention to. TechCrunch+ survey: VCs expect exits to rebound in 2023. The consensus is that Stripe will go public this year .
LATAM
Paytech Stone authorized by Central Bank to operate as a Financial Institution in Brazil. In practice, the company now holds the same "status" as other fintechs that have become more prominent players, including Nubank and Mercado Pago.
Trio has recently obtained approval from Brazil's Central Bank to become a Payment Institution (PI) , allowing Trio to function as both an issuer of electronic money and a Payment Transaction Initiator.
ASIA
BitGo receives in-principle approval from MAS for Major Payment Institution licence . Once granted the full licence, BitGo will be able to offer regulated digital payment token services in Singapore.
GHL offers Mastercard Click to Pay for seamless online checkouts. GHL provides acquiring services and card payment acceptance solutions to retailers in-store, online, and via mobile.
AUSTRALIA ????
Tyro adopts the Pismo platform to enhance its operations in Australia . The company selected the cloud-based platform to speed up innovation and expand its market presence.
MIDDLE EAST
Tamara BNPL service integrates with Paymob gateway. The agreement creates a payments ecosystem that enables merchants to offer more comprehensive solutions and seamless customer experiences.
MOVERS AND SHAKERS
Adyen’s CTO Alexander Matthey to depart at the end of 2024. Adyen confirmed it will begin the search for a successor for Matthey covering both internal and external candidates, ahead of the CTO’s departure in December 2024.
Thunes expands its leadership to accelerate growth . Thunes appoints Floris de Kort as its new CEO, and Peter De Caluwe has been promoted to Deputy Chairman focusing on strategy, M&A and further expansion into key markets.
PayPal hires Barclays digital MD Simon Bladon as new UK CEO. The move, which is subject to regulatory approval, also includes Bladon becoming VP of PayPal’s global entity management.
IFX Payments names Sara Cass as chief compliance officer. Sara will lead the team in upholding the high compliance standards set at IFX Payments as it continues to cement its place as an industry leader in compliance.
PhonePe appoints Ritesh Pai as CEO of International Payments . At PhonePe, he will lead the firm’s international growth and expansion plans.