?? The One-Click Checkout War

Hello Crunchers,

After a two-week hiatus (sorry about that), I'm bringing you some exciting news today from the worlds of fintech, payments, Crypto, Metaverse, and beyond.

If you’re reading this and haven’t signed up yet, please make sure you join 8,356 others by?subscribing here.

Now let’s not waste any more time and get right into today’s edition! ??

This week, I'm looking at the battle of one-click payments and how it's affecting the world.

On one side are the major credit card companies, who have been slow to embrace the new technology...On the other side are startups like Square and Stripe, who are quickly gaining ground with their easy-to-use payment platforms. So far, the battle has been fought largely on the merchant side, with businesses adopting the new payment methods to make it easier for customers to pay.

But the real battlefield is consumer behavior. And right now, it's still too early to say who will win this war.

More on that later in today's edition.

What’s new in Fintech?

According to a local publication, the Reserve Bank of India (RBI) is talking to fintech companies and state-controlled banks about conducting a test run of a central bank digital currency.

Singapore's 星展银行 is in talks with five banks about a real-time remittance system using smartphones' UPI. This means that instant international payments will finally become a thing, instead of waiting for days to get the money transferred.

摩根大通 is acquiring payments startup Renovite Technologies Inc to fend off threats from fintech firms including Stripe and Block .

The One-Click Checkout War

In the world of online payments, there's a war brewing. There’s a fight to make checkout faster and simpler, and it's being waged by some of the biggest names in tech.

Amazon's patent on one-click checkout expired in 2017, causing an increase in competition. In January 2021, checkout infrastructure startups raised over $900 million.?

The latest battlefield is one-click checkout, and the contenders are PayPal, Apple, Amazon, and Google. Each company is trying to convince shoppers that their system is the best way to pay online. And they're all using different tactics to win over customers.?

• PayPal has been working with major retailers like Walmart and Target to integrate its payment system into their websites.?
• Apple is using its huge ecosystem of iPhone and iPad users to promote its Apple Pay service.?
• Amazon is using its dominance in e-commerce to push its own payment system, Amazon Pay.?
• And Google is using its vast network of Android users to promote Google Pay.?

A new player in the one-click checkout scene is Revolut which is launching a one-click payment feature in a bid to rival the above tech giants at online checkouts.?

Revolut Pay has signed up retailers including Shopify Inc., Prestashop, WH Smith Plc, and Funky Pigeon. Revolut Pay will also be available within the airline industry in the coming months, according to a statement from the London-based fintech.

Founded in 2015, Revolut has run services for businesses for the past five years. The business launched a card reader in July, adding to the burgeoning payments ecosystem that has Apple Inc., Block Inc., and PayPal among its biggest players (source).

It's still early days in this war, but it's clear that the stakes are high. Whoever can win the hearts and minds of online shoppers will have a major advantage in the years to come. So far, the jury is still out on who will come out on top.

But one thing is for sure: the battle for online checkout is only just beginning.

? Quick Investment Rounds

Bitmama , a Nigerian blockchain payments startup, closed $2 million in pre-seed funding as it scales to new markets. Mysten Labs , the creator of Sui, has closed a $300 million round of financing at a valuation topping $2 billion, according to an announcement on Thursday.

It's official: 21.co has been crowned Switzerland's largest crypto unicorn. The firm announced on Tuesday that it raised $25 million, bringing its valuation to $2 billion.

? Before you go…

Metaverse: Meta is taking the concept of online schooling to a whole new level by shelling out $150 million to aid 10 universities in the Metaverse.

Apple: 苹果 officially overtakes 50% of the U.S. smartphone market share, while all other Android brands have just the other half.

Crypto: Despite its fluctuating prices, people are still investing in crypto. About 42% of millennials are very likely to buy cryptocurrency in the next year, compared to 26% of Generation Z.

Silicon Valley: Engineers and big talents are quitting their jobs at tech companies like Google and Apple to join the climate tech movement.

?? The Latest on Couchonomics

You can also listen to this episode on Apple Podcasts, Google Podcasts, and Deezer

?? And that brings us to the end of today’s Couchonomics Crunch.

Don’t forget to share today’s edition with all the fintech enthusiasts you know.

Thanks for reading the Couchonomics Crunch. Subscribe here to stay up to date with all the fintech happenings around the world.

See you next week! ????