Mastercard and Italian FinTech Fabrick partner to speed up Embedded Finance in Europe
Connecting the dots in payments...
Connecting the dots in Payments...
Hi there, you fellow Payments Enthusiast!
Welcome to this fresh newsletter, a dedicated Payments bulletin packed with Digital Payments and PayTech-related news!
It’s nice meeting you and I look forward to the insights and connections we’ll get by interacting here. Don’t be shy; share your ideas, vision and knowledge to keep improving this newsletter!
?? This Week’s Takeaway:
Italian FinTech Fabrick has raised €40m from Mastercard and others
??What happened?
? Mastercard and Open Finance sector pioneer Fabrick announced a new, but expanded strategic partnership;
? The collab aims to develop Embedded Finance solutions that will improve the digitalization of businesses, financial institutions, and FinTechs across Europe;
? Mastercard, which was involved in the round alongside a number of other unnamed shareholders, now holds a minority stake in the open finance platform, doubling down on the partnership the companies have had since 2019.
?? What makes this deal of any relevance?
? Deepening the relationship with Mastercard also means that Fabrick has taken external funding for the first time since it launched in 2018, as a spinout from Italian bank conglomerate Banca Sella at the time;
? Embedded Finance is seen by many as a game changer in banking and FinTech;
? It enables companies from any sector to integrate financial services directly into their products via API implementation, giving every business the opportunity to provide payment, banking and insurance services without the need to build a proprietary financial infrastructure themselves;
? Fabrick's Open Finance platform enables embedded payments solutions worldwide and to date, over 400 counterparties are connected to this platform, generating over 330 million API calls per month;
? Given the numbers, both in connections and euros, this deal could be of a decent impact to support digitalisation for Italian and European business.
?? And what makes it relevant in a slightly broader perspective?
? In a broader perspective, these kind of partnerships says something about the degree of strategic investment by major payments players as Mastercard and Visa, and the diverse profile they bring to their portfolios;
? Mastercard has more investments in European FInTechs on its record;
? Previous investments include Swedish POS-supplier iZettle, which was acquired by PayPal back in 2018 and dubbed Zettle afterwards;
? Mastercard also invested in UK Buy Now, Pay Later (BNPL) FinTech Divido and B2B banking software company Pollinate;
? Competitor Visa has been a prolific investor in European FinTechs as well;
? Visa placed strategic investments in open banking rival Truelayer, Swedish payments giant Klarna, Solaris and Tink, which it acquired for €1.8bn back in 2021;
? Such investments can give established companies access to startups’ tech products as well as open up the potential for acquisitions further down the line.
?? Any other notable things happened in Payments?
I hope these quick bites have brought you up to speed again, and let’s keep a close eye on ‘Payments’ for the week to come..;-)
Cheerio and until the next,
Wouter & Marcel
Onwards to the other payments news!
?? NEWS HIGHLIGHT
Nubank and Uber have joined forces to integrate NuPay into Uber's platform . This feature introduces a one-click payment method.
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?? INFOGRAPHIC
?? INSIGHTS
Africa’s FinTech landscape is experiencing a remarkable transformation, largely driven by the increased trend of mobile payments, which have revolutionized how people pay for goods and services.
Read the complete article on this topic by Zotapay . And definitely check out the short panel video!??
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? PAYMENTS HIGHLIGHTS
?? Affirm announced a multi-year partnership that will make its Adaptive Checkout? available to all Worldpay merchants .
?? REGIONAL HIGHLIGHTS
UK ????
EUROPE ????
Adyen launches Payout Services enabling its customers to payout acquired funds in the preferred method of their affiliated users.
USA ????
Amazon One is gaining new functionality with the addition of age verification . Its customers will be able to buy adult beverages just by hovering their palms over the Amazon One device.
ASIA
An agreement between BKN301 and the Municipality of Tbilisi enables digital payments on taxis in the Georgian capital for the first time in the country.
Atome’s flexible payment option is now available for Amazon customers in Singapore . This is Amazon’s first BNPL partnership of its kind in Southeast Asia.
Wise announced that its users can now send up to PHP 9 million (approximately US$161,000) to the Philippines.
AUSTRALIA ????
Zepto announced that Woolworths Group’s Wpay had selected it to power its PayTo solution via the New Payments Platform .
MIDDLE EAST
Saudi Arabia’s card payments market is expected to grow by 14.6% to reach 532.1 billion Saudi riyals ($141.9 billion) in 2023, GlobalData reported.
D360 Bank partners with Thunes , enabling its customers in Saudi Arabia to make fast and cost-effective B2B business payments and international remittances worldwide.
Adyen unveils demand for personalization: Nearly 8 in 10 UAE shoppers seek better-personalized offers .
MOVERS AND SHAKERS
Nathan Marion, previously with Adyen, is now the general manager of Yuno in Brazil , aiming to strengthen its local operations.
ACI Worldwide’s Board of Directors appointed Thomas Warsop as President and Chief Executive Officer.