Connecting the dots in Payments Weekly Newsletter
Connecting the dots in payments...
Connecting the dots in Payments...
REPORT
Together they processed $9.5 trillion in payment card volume
Collectively, the companies highlighted process over 95% of all card payment volume in the US.
Looking at the top-ranked companies, JPMorgan Chase & Co. ranks first for estimated US total processing volume at $2.4 trillion, and first for estimated US total transactions at 46.2 billion.
The European mobile payments landscape exhibits significant fragmentation, driven by rivalry among international digital wallets, local mobile payment solutions, and overarching initiatives like the European Payments Initiative (EPI). Our analysis reveals a landscape characterized by steady growth and intense competition, as well as showing early signs of the next stage of maturity.
?? NEWS HIGHLIGHT
To foster cross-border tourism and international cultural exchanges, Tencent is taking comprehensive steps to enhance the payment experience for visitors to the mainland of China.
A series of measures are streamlining the process: It is now both more convenient and safe to register for a WeChat account, as well as quicker and easier to link international cards to Weixin Pay. Weixin Pay is also actively exploring interoperability with more overseas e-wallets to further enhance the payment experiences for visitors.
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NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? Ingo Payments welcomes Anita Hayrapetian as their new VP of Sales .
?? Canada's real-time payment system won't launch before 2026 .
?? Modernising the trains and rails of UK payments .
?? REGIONAL HIGHLIGHTS
UK ????
Currence announced a big update to the iDEAL payment system: Starting today, consumers can create their very own iDEAL account + Speedy Checkout.
EUROPE ????
Viva.com and Bancomat form partnership. This initiative will empower merchants to stay at the forefront of global commerce , ensuring seamless transactions.
The Netherlands Authority for the Financial Markets has raised concerns about minors accessing BNPL services, despite a Code of Conduct by Billink, In3, Klarna, and Riverty to prevent such access.
USA ????
How FedNow is Shaping Payments Since its Groundbreaking Launch . In the six months following its launch in July 2023, FedNow has emerged as a transformative force in real-time payments, marking a significant departure from the traditional ACH system.
Fintech giant Stripe raises nearly $694m in funds. The deal marks a rare bright spot in an otherwise subdued venture capital market , as investors spooked by high interest rates have been cautious despite expectations of a soft landing for the economy.
ASIA
RBI to bring POS players under license regime. To tighten the offline payments ecosystem, the Reserve Bank of India (RBI) is expected to come out with guidelines for issuing licenses to operate in the point of sales (POS) business.
MOVERS AND SHAKERS
Rick Castello Joins PayRetailers as Head of Sales North America. Throughout his career, he has worked closely with leading brands across all major verticals, shaping international payment strategies and driving significant business growth.
Pomelo names Steve Vickers CEO. Steve Vickers succeeds Vincent Choi, Pomelo Group’s co-founder, who is stepping down as CEO and joins Pomelo’s strategic advisory board .
$45bn FinTech hires a generative AI executive in Chicago. As part of the U.S. expansion of Adyen, a $45 billion payments company, it has hired Keith Munns as a new vice president of product to work with the technology in its growing Chicago office.
Founder & CEO, Group 8 Security Solutions Inc. DBA Machine Learning Intelligence
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