Connecting the dots in Payments Weekly Newsletter
Connecting the dots in payments...
Connecting the dots in Payments...
REPORT
This report presents the QRCIWG's collective knowledge, drawn from both research and expert insights.
It sets the stage for the reports that follow with an initial discussion about the QRCIWG’s five proposed market-driving factors for faster payments QR code implementations.
?? NEWS HIGHLIGHT
Walmart’s majority-owned FinTech startup One has begun offering buy now, pay later loans for big-ticket items at some of the retailer’s more than 4,600 U.S. stores, CNBC has learned.
The move puts One in direct competition with Affirm, the BNPL leader and exclusive provider of installment loans for Walmart customers since 2019. It’s a relationship that the Bentonville, Arkansas, retailer expanded recently, introducing Affirm as a payment option at Walmart self-checkout kiosks.
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??INSIGHTS
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? FinTech AffiniPay expands footprint in Puerto Rico.
?? Tink Teams With Splitwise to Offer Pay-by-Bank.
?? REGIONAL HIGHLIGHTS
UK ????
Trulioo and Nium Partner to Enhance UK Operations With Rapid, Compliant Payment Experiences. The expanded Trulioo partnership strengthens Nium’s U.K. operations without extensive administrative or engineering effort.
领英推荐
EUROPE ????
FinMont teams up with Ubank Connect. This partnership will see FinMont add UBank Connect’s innovative and leading payment gateway solution to its global ecosystem, facilitating and offering merchants a powerful alternative payment processing service across emerging markets.
BNP Paribas brings Tap to Pay on iPhone to French retailers with payment scheme CB. Tap to Pay on iPhone accepts all forms of contactless payments, including contactless credit and debit cards, Apple Pay, and other digital wallets.
Apple's offer to open up tap-and-go tech to be approved by EU next month, sources say. The European Commission two years ago accused Apple of thwarting competition for its Apple Pay mobile wallet by preventing rival mobile wallets app developers from accessing its tap-and-go technology.
Viva.com and SUNMI unify advanced payments technology with widest range of smart POS devices. Through this collaboration, Viva.com’s Tap on Any Device technology, featuring the hardware agnostic Terminal app, is available on SUNMI’s Android hardware portfolio.
Airwallex Partners with Technology Company Bird to Power Its Global Payments Infrastructure. This has enabled greater visibility and control as well as the automation of supplier payments around the world, leveraging Airwallex’s proprietary foreign exchange (FX) engine.
USA ????
The Clearing House is processing $2 trillion per day through wire, ACH, and real-time payments. In 2017, The Clearing House launched the Real-Time Payments (RTP) network.
Survey: 56% of buy now, pay later users have experienced issues like overspending and missing payments. Requirements are quite flexible most lenders only ask for a few contact details and payment information for approval.
Visa bundles products for 'click-and-mortar' retailers. Visa a global leader in digital payments, is offering sellers expansive, simplified services to keep pace with those demands.
Cognizant and Fico pair up to fight real-time payments fraud. The joint offering would leverage both firms' artificial intelligence (AI) and machine learning (ML) technology to help banks and other payment service providers in North America.
Forage becomes SNAP EBT payment processor for Uber Eats. Forage, the San Francisco-based payments company, announced a partnership with Uber Eats to enable payment processing of SNAP EBT, when the delivery platform launches the product in late 2024.
This is interesting: Uber is introducing “Pay by Bank” (by Stripe) as a Payment Option, and they are pro-actively incentivising users with cheaper rides if they choose that method over Cards and Wallet.
ACI Worldwide, Inc. Reports Financial Results for the Quarter and Full Year Ended December 31, 2023. "2023 was another year of progress for ACI, with steady revenue growth and improving margins,” said Thomas Warsop, president and CEO of ACI Worldwide.
Klarna announced the expansion of its partnership with Expedia Group to the US market, enabling them to book flights and stays using its interest-free Pay Now or Pay in 4 options.
Coupa and Bottomline simplify business payments. The new offering opens the Paymode-X network’s 550,000+ authenticated suppliers and the network’s proprietary Premium ACH payment type to Coupa Pay customers.
Fed courts nonbanks for FedNow growth. FinTechs can also assist the Fed in providing services that make the most of FedNow’s data-rich capabilities, she said during a conference this month.
Thunes announces agreement to acquire Tilia LLC. Tilia is licensed in 48 U.S. states and territories and offers payment solutions for online games, virtual worlds, creator economies, and in-app purchases.
PPRO expands local payments offering to the US. The growth potential is significant with US e-commerce spending expected to reach US$1.5 trillion by 2027 with the average online shopper spending over US$4,000 a year with merchants.
LATAM
Colombian Paytech OnePay raises US$1.3 million to further strengthen its Whatsapp payment integration platform. Customers of these companies receive the receipt via chat or text message, and from the same conversation they can pay instantly after creating their OnePay account and registering their preferred payment method.
Google Pay, Google's digital wallet, is now able to operate as a payment initiator within the Open Finance framework in Brazil. This means that the institution has completed all necessary steps to engage in this modality.
ASIA
Checkout.com plans China growth push. The country processed $33tn in digital payments in 2023, a number that is expected to cross $52tn by 2028, according to Statista data.
Paytm receives NPCI approval for user migration to new PSP banks. This approval comes in the wake of NPCI's endorsement on March 14, 2024, to onboard OCL as a Third-Party Application Provider (TPAP) on the Multi Payment Service Provider API Model.
Amazon Pay is planning to kick off credit services on the UPI platform as part of a deal with the National Payments Corporation of India (NPCI). This initiative aims to enhance customer experience and value propositions, Vikas Bansal of Amazon Pay India told The Financial Express (FE).
China's Ant Group in talks to launch Alipay+ in Indonesia, says executive. Alipay+ provides services and technology tools to global merchants and e-wallets that enable them to offer their users the ability to make payments in overseas markets with their local e-wallets.
Japan’s Docomo To Sell Contactless Smart Rings; Users Can Make Payments at the Wave of a Hand. The telecommunications firm plans to form a business alliance with Evering Co., the start-up that manufactures the smart rings, and will consider future business opportunities on which the two companies can collaborate.
Bank of China lets taxi drivers accept central bank digital currency payments on NFC mobile phones. Taxi drivers taking part in the SoftPOS pilot use the bank’s e-yuan central bank digital currency.
Yuno expands across Asia. Businesses in these countries can now leverage Yuno’s proprietary platform to access over 300 payment options, as well as integrate cutting-edge features including one-click checkout modifications.
Singapore's Qashier awarded in-principle approval for a Major Payment Institution Licence. Companies like Qashier who have already started operations prior to the Act’s implementation were required to file an official licence, during which they will operate under the exempted framework.
MOVERS AND SHAKERS
Adyen names Italy country manager to lead expansion. Adyen said it had named Gabriele Bellezze country manager for Italy to develop the Dutch payments group's presence in the country.
Nium appoints Alexandra Johnson as chief payments officer. Johnson will work across Nium’s markets, leading the Global Banking and Payment Operations teams. She will report into Prajit Nanu, Co-Founder and CEO of Nium.