December 3rd Week Edition, 2024| FinTech Flight Weekly

??Hey there, FinTech enthusiast! We’re here to make your ride through the world of payments and FinTech as enjoyable as a window seat on a sunny day (and definitely turbulence-free).

Each week, we’ll serve up sharp insights, the latest trends, and must-know updates—all with a sprinkle of fun to keep it interesting.

So, sit back, relax, and get ready to cruise through the top FinTech news updates. Ready to take off? Let’s soar!

???????????? ????????:

Marqeta has partnered with Slope to launch the Slope Card, offering businesses low-interest BNPL options with 30- or 60-day terms. Already adopted by IKEA for Business, the card helps SMBs manage cash flow, make flexible payments, and access working capital with ease.

Powered by Marqeta’s advanced platform, the Slope Card simplifies financial management with real-time card issuance, secure transactions, and seamless integration for in-store and online purchases.

A new era of flexible business payments is here!

?? ?????????????? ???? ???????? ?????? ?????????????? ???????????? ??????????

The fintech market this week presents some interesting shifts and trends as reflected in the updated rankings:

Mastercard maintains its top spot, trading at $368.20, despite a slight dip of -0.50%. Its leadership in global payments continues to bolster its dominance.

Visa jumps to the second position with notable momentum, trading at $248.50 and recording a +1.25% gain. The company's steady growth reinforces its position as a global payment powerhouse.

Square secures third place, trading at $60.90, with a modest +0.40% rise. Square’s innovative small business solutions keep driving its market performance.

PayPal lands in fourth place, trading at $72.30, but faces a -1.10% decline. This reflects potential challenges despite its solid foothold in the digital payments space.

Marqeta continues to hold firm, trading at $8.15, with a slight +0.05% uptick. Its focus on modern card issuing keeps attracting interest.

Affirm rounds out the rankings, trading at $17.50, experiencing a -0.30% drop as the Buy Now, Pay Later space faces competitive pressures.

????????????'?? ?????? ???????? ??????-???????????? ??????????????

Google Cloud predicts four ways that GenAI will transform financial services

GenAI is set to transform banking in 2025, with trends like intuitive search, intelligent agents, multimodal AI, and advanced fraud protection leading the charge. These innovations will help banks streamline workflows, enhance customer experiences, and build stronger defenses against cyber threats.

?? Our Analysis: Banks that leverage robust AI platforms will gain a competitive edge. Intuitive search will unlock data insights, reducing inefficiencies. Multimodal AI will enable seamless customer interactions, while AI-powered fraud protection will outpace increasingly sophisticated attacks. The result? A smarter, safer, and more customer-centric banking ecosystem.

What It Means for You:

• Streamlined Processes: Intuitive search minimizes data bottlenecks for faster decision-making.
• Smarter Banking Apps: AI-driven tools automate tasks and deliver personalized financial insights.
• Advanced Security: AI combats fraud by detecting complex patterns and automating threat responses.

New Zealand reduces merchant service fees for card payments

The Commerce Commission is taking action to reduce payment processing fees, aiming to save New Zealand businesses around $260 million annually on Visa and Mastercard charges. This move is set to benefit both businesses and consumers, ensuring savings are passed on.

?? Our Analysis: This proposal targets the largest component of card fees, addressing a longstanding pain point for businesses. By simplifying complex fee structures and discouraging excessive surcharging, the Commission is creating a fairer payment ecosystem. However, effective enforcement will be key to ensuring consumers see the benefits.

What It Means for You:

• Lower Costs for Businesses: Reduced fees mean potential savings of up to 1% on card payment costs.
• Fairer Prices for Consumers: Businesses are expected to pass savings on through lower retail prices.
• Simplified Fee Structures: Easier-to-understand charges will increase transparency and accountability.

Nubank leads $250 million investment round in Tyme Group

Tyme Group, a Singapore-headquartered digital bank with 15 million customers across Africa and Southeast Asia, has achieved a $1.5 billion valuation following a Series D funding round. The bank’s first profitable months earlier this year mark a major milestone in its five-year journey.

?? Our Analysis: Tyme’s partnership with Nubank, a global fintech giant with 100M customers, positions it to scale rapidly in emerging markets. With a $150M investment from Nubank, Tyme gains access to expertise in credit risk, data analytics, and product development. This alliance showcases the growing influence of digital-native banks in transforming global financial services.

What It Means for You:

• Stronger Financial Backing: Tyme’s unicorn status fuels its expansion and innovation in underserved markets.
• Expertise from Nubank: Collaboration unlocks advanced tools in risk management and marketing, boosting customer offerings.
• Expanding Access: Digital banks like Tyme are revolutionizing financial inclusion in Africa and Southeast Asia.

A2A payments startup Volume raises $6 million

London-based fintech Volume has raised new funding led by United Ventures, with participation from Fabrick and existing investors. The company offers a one-click, account-to-account (A2A) payment solution that’s fast, secure, and easy to integrate with just five lines of code.

?? Our Analysis: Volume is tackling the adoption challenges of A2A payments with a game-changing user experience. Leveraging open banking and biometric authentication eliminates the need for cards or passwords while keeping costs below 1%. With 163x growth in Gross Merchandise Value and a focus on cross-border payments, Volume is poised to disrupt the payments landscape.

What It Means for You:

• Faster Payments: Transactions are completed in under a second directly from bank accounts.
• Enhanced Security: Biometric authentication ensures safe, card-free payments.
• Cost Savings: Businesses could save up to $44 billion annually with low, flat-rate fees.

Ripple begins stablecoin rollout

Ripple has launched RLUSD, a USD-backed stablecoin designed for instant payments, fiat-to-crypto conversion, and real-world asset tokenization. The stablecoin, supported on both the XRP Ledger and Ethereum blockchains, aims to drive adoption across the Americas, Asia-Pacific, UK, and Middle East regions.

?? Our Analysis: RLUSD represents a strategic move to modernize payments and advance financial inclusion. With NYDFS regulatory approval, Ripple sets a high compliance standard, positioning RLUSD as a trusted solution for enterprises. Backed by Ripple’s robust $70 billion payment volume and a world-class advisory board, RLUSD is set to play a pivotal role in the evolving payments landscape.

What It Means for You:

• Faster Transactions: RLUSD offers instant payments and near-global coverage across 90+ markets.
• Regulatory Confidence: NYDFS approval underscores Ripple’s commitment to compliance and trust.
• Financial Inclusion: Aims to unlock new opportunities for underserved markets through stablecoin technology.