Why Online Payments Fail, and How to Recover Lost Sales

?? NEWS HIGHLIGHT

• Mastercard has announced plans to phase out traditional 16-digit card numbers by 2030.

This shift aims to reduce fraud, improve user experience, and align with the growing trend of tokenization and biometric authentication in payments.

Why Is Mastercard Removing Card Numbers?

Traditional card numbers, printed on physical cards, have long been a target for fraudsters.

Read more

NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS

?? FINTECH HIGHLIGHTS

?? Dutch-based CM.com raises €20M via accelerated bookbuild offering: Know more.

?? Merk Payconiq verdwijnt tegen eind 2026, maar app blijft bestaan en wordt vernieuwd.

?? The Most valuable European private Startups by country HQ.

?? Prosecutors drop some charges against former Wirecard chief.

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FINTECH

ClearBank launches embedded banking solution for SME credit card provider and Capital on Tap. The new business savings accounts will be available to new and existing Capital on Tap customers. Businesses using the accounts will benefit from higher interest rates on their savings, as well as eligible deposits protected by FSCS.

Fintech unicorn Zepz to lay off 20% of its global workforce. The London-based fintech is laying off around 200 IT workers as part of a major redundancy plan. The layoffs affect several IT functions at the company, including database administration, development operations and software engineering.

Santander says UK business is not for sale. The Financial Times reported that Santander had discussions with NatWest for a potential sale of the Spanish lender's UK retail business. But a Santander spokesperson said, "Santander UK is not for sale". Read more

PAYMENTS

Why online payments fail, and how to recover lost sales, by Solidgate. This blog draws on years of experience optimizing payment performance for online businesses to explain the nature of failed payments and provide effective solutions. Learn more

Checkout. com announces its partnership with Vinted. With AI-driven optimizations, Checkout.com’s Intelligent Acceptance has boosted Vinted’s acceptance rates by 4.15% in 2024, reducing failed transactions and increasing engagement. As a result, Vinted significantly grew its transaction volume with Checkout.com, reinforcing their strong partnership.

Italian FinTech unicorn Satispay has no plans to rush an IPO and is actively pursuing M&A. The company, which is valued at over ?????? ??.??????, is preparing internally for an initial public offering and will consider both European and US exchanges. Read on

Wise launches new features. The company has new updates designed to help customers save time and manage international payments more efficiently. The features include: cashback tax statements, account details improved, and managing multiple accounts with ease.

REGTECH

Bitget sets up European base in Bulgaria following regulatory green light. The exchange has secured an operational license from Bulgarian financial authorities, allowing it to function as a Virtual Asset Service Provider in the country. With this approval, It has chosen the country as its key hub for broader compliance with MiCA regulations.

DIGITAL BANKING

Commerzbank to cut 3,900 mostly German jobs as it tries to head off UniCredit. The job cuts are expected to take place by 2028 but will be accompanied by hiring outside Germany, meaning full-time positions will remain steady at 36,700, the bank said.

PARTNERSHIPS

Finastra aligns with Attune on mortgage processing. The partnership with ATTUNE helps optimize the digital lending experience for its mutual customers. Through this integration, the company can help credit unions and banks accelerate the lending process while improving operational efficiency.

Commerzbank and Visa agree on strategic partnership in card business. The bank will further develop its payment offerings as an important part of its growth trajectory. Customers can look forward to a strong offering with worldwide acceptance, secure online payments, and easy integration into mobile wallets.

AZA Finance and dLocal partner. The partnership will see dLocal’s cross-border payment infrastructure combined with the FinTech company specializing in payments and foreign exchange in Africa’s foreign exchange capabilities and network of regional licenses.

ShopMate announces partnership With DNA Payments to transform payment solutions for convenience stores. Through this strategic partnership, ShopMate is enhancing its support for retailers by integrating a seamless and efficient payment solution into its EPOS system, ShopMate Pay.

Capital.com expands collaboration with LSEG to deliver news, data and analytics essential to informing clients' trading decisions. Integration of LSEG's Data & Analytics AI-powered sentiment analysis and news feeds will help traders react quickly and with authority.

Adyen processing volumes jump 22% as digital payments surge. Company materials indicated that processed volume growth was up 22% in the most recent half, to 666.4 billion euros, while the EMEA was yet again a key net revenue contributor, growing 27% year on year. North America-related revenues were up 21%.

DONEDEAL

Money Squirrel raises ￡185,000 to transform business savings in the UK. The funding will be used to develop the platform’s features and expand its offerings to more businesses. The company plans to enhance its savings automation tools, adding further functionality to address the financial needs of small and medium-sized enterprises.

ACF Investors lead funding for UK's OneID digital ID services. The funding follows a period of growth and implementation of the company’s technology with a growing customer base. OneID will use the funding to enhance its product offering, expand its operations into new market sectors and deliver its services to new and existing customers.

M&As

Ageras acquires Storebuddy. The acquisition would help it expand its reach across e-commerce also it follows Ageras’ purchase of Shine from Société Générale last year. Ageras provides accounting software to over 300,000 European small businesses. Read more

MOVERS & SHAKERS

Wayflyer appoints Victor Tuson Palau, as its first CTO. Victor joins the business from investment platform, Bitpanda, where he led the 250-strong product and technology functions through international expansion. He also co-founded his sustainability startup, Greengame, which sought to incentivize the mass-adoption of sustainable behavior.

HSBC plans new round of investment bank job cuts next week. The latest phase of cuts will start in Asia, but will ultimately affect employees globally. Some cuts are already underway in the firm’s markets division but wider layoffs across the investment bank will begin as early as Monday.

Moneyhub shutters D2C business, lays off “around 30%” of UK workforce. Staff were informed of the layoffs, which has led to the elimination of “approximately 36 positions”. The company’s D2C proposition will be closed down gradually “over the next 18 months”, sources say, coinciding with the expiration of existing paid subscriptions.