European Banking-as-a-Service Landscape & The 5 Most Important FinTech Updates Of The Week
Hi there, FinTech Fanatic!
Welcome to a new edition of "FOMO on FinTech News". My mission? To make sure you never experience that dreaded Fear Of Missing Out.
First, I would like to mention my blog post explaining how the Banking-as-a-Service (BaaS) model could unlock a staggering €100 billion opportunity , reshaping how consumers and businesses interact with financial services.
Now let's not waste any of your valuable time and dive in with 5 FinTech Industry Updates you need to read??
1?? ???? Google Pay has launched a pilot program with BNPL providers Affirm and Zip .
This initiative will introduce BNPL options at selected U.S. merchants in apparel, theater, and travel sectors that already support Google Pay for online transactions.
When shoppers opt for Google Pay at the checkout of merchants involved in the pilot program, they will receive a notification informing them of the availability of BNPL options through Affirm or Zip.
This strategy contrasts with Apple's method , where they have developed their own direct-to-consumer BNPL service, rather than relying on merchant distribution.
2?? ???? ABN AMRO Bank N.V. AMRO acquires neobroker BUX
However, the purchase does not include the company’s cryptocurrency activities. The transaction is subject to approval by the regulator and is expected to be finalized in 2024.
The deal comes at the end of a challenging 2023 for BUX, which started the year with news that a potential €100m+ acquisition by N26 had fallen apart, and closed the year with a withdrawal from the UK market and layoffs.
3?? ???? The Central Bank Brazil released the operational guidelines and rules for the functioning of the 'Automatic PIX’, which is scheduled for October 2024.
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"Automatic PIX” is a new feature within the existing PIX payment system, designed to facilitate recurring payments.
4?? ???? Apple?has offered to let rivals access its tap-and-go mobile payments systems used for mobile wallets, a move that could settle EU antitrust charges and stave off a possible hefty fine.
The EU competition enforcer last year charged Apple with curbing rivals' access to its tap-and-go technology, Near-Field Communication (NFC), making it difficult for them to develop rival services on Apple devices.
5?? ???? SumUp taps €285M more in growth funding in a bumper round that values the company at $8.5 billion.
Finally, in my blog post, BaaS vs Embedded Finance , I explain that Embedded finance, while closely related to BaaS, presents a distinct aspect of financial integration.
While BaaS forms the infrastructure backbone ("how"), embedded finance represents the actual financial offering ("what") added to core products.
And now you are up to date. ??
Cheers,
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Product Manager | Product Strategist | PSD2, Open Banking | Fintech Product Development
11 个月Frederik Stokholm and Morten Sprange Thomsen good article for you both. ??
Payments / Fintech / Business Advisory & Strategy
11 个月Marcel van Oost keep in mind that Vodeno works hand in hand with Aion Bank so delivers full stack services for both EU and UK markets.