Santa's Modern Helper: BNPL Takes Center Stage this Holiday!

It's that magical time of year again! Christmas lights, cozy moments, and the perfect opportunity to fulfill holiday wishes.?????

The holiday season is also about shopping, which has a significant impact on the global economy. Customers benefit from new trends like?Buy Now, Pay Later (BNPL)?services, which are taking the spotlight this Christmas.

Compared to last year's spending trends,?52% of consumers?are more likely to use BNPL services or are already using them. According to Adobe Analytics, BNPL spending could reach?$17 billion this holiday season.

In the US,?55% are saying yes to BNPL, credit cards, or lines of credit this season. In the United Kingdom,?more than a quarter of adults?use BNPL to help with festive spending.?

Now, let's explore the latest innovations in BNPL, Family Banking, Wealth Tech, and more!??????Stay tuned for exciting updates that are transforming the landscape of finance and technology.

?? Mondu collaborates with Mangopay to introduce Business-to-Business BNPL services. ?

Together, these companies are teaming up to offer?European marketplaces a flexible payment system?tailored to their needs. ?

?? Adyen and Klarna are extending their global partnership.

Adyen is now taking on a new role as one of Klarna's acquiring banks. This major collaboration,?which will start in 2024?across Europe, North America, and Asia, aims to improve the payment experience for Klarna's 150 million users worldwide. ?

?? Astra joined forces with Till Financial, a company dedicated to collaborative family banking.

This partnership is designed to provide customized financial solutions for families and empower children and?teens to become more financially responsible.

Dive into the Future of Family Banking with Vacuumlabs!???

Discover the challenges family members face or success stories from Apple to Monese. In the?How to Navigate the Transformative Landscape of Family Banking?article by Vacuumlabs you will discover the reason why you should consider family-centered strategies for your business.

???Top 3 FinTech and Payments Trends 2024

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1. The rise of A2A payments

The boost comes from open banking, instant payments, and merchant support, making these transactions not only cheaper and faster but also safer from fraud risks.?

2. Generative AI in Banking to Transform Spending Insight

For many different industries, but especially for banks and financial institutions, generative AI will result in specific benefits. ?

3. Integration of digital wallets to accelerate digital identity adoption

Between 2023 and 2027, digital identity applications are expected to grow by 86% worldwide.

?? While banks and trading platforms are available, only 15% of EU adults invest, compared to 58% in the United States.

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That wraps up today's newsletter! We hope you enjoyed the insights, trends, and updates from the world of finance.?

Don't miss our upcoming edition, where we'll continue to explore exciting developments in the world of technology and innovation.

Do you have any questions??We are here for you.