REPORT
You can think of relevant payments disruption in three waves: ‘existing’, ‘new’, and ‘next’.
The future of the payments landscape is hard to predict. Will account-to-account payments replace traditional card rails? Will central bank digital currencies (CBDCs) replace the role of payment intermediaries?
👉 Read the full Accenture report here.
😎 SPONSORED CONTENT
Fintech Meetup is where deals get done and partnerships happen! Everyone you want to meet in 2022 will be there. Meet Fintechs like Alviere, BitPay, BlockFi, Certa, MANTL, Nymbus, Signal Intent, Sila, Socure & Zero Hash (to name just a few!), Investors like Bain Capital, Commerce Ventures & Tribeca Ventures, Banks like Bank of America, Citi, J.P. Morgan & Wells Fargo, Neobanks like Dave, Revolut & Varo Bank, Credit Unions representing 13 million members and many, many others! Online, March 22-24. Get Your Ticket
📊 INFOGRAPHIC
In 2021, we witnessed over 10 billion-dollar deals within the FinTech industry. Square’s acquisition of Afterpay topped the charts with a whopping $29 billion deal.
2021 was a breakout year for M&As, where we witnessed massive consolidation across key FinTech sectors such as Digital Banking, Payments, Buy Now Pay Later (BNPL), Lending, Wealth Management, Insurance, FinTech Infrastructure, and Decentralized Finance (DeFi).
👉 Read the full WhiteSight article by Sanjeev Kumar & Afshan D. here.
👨💻 WEBINAR
Check out this On-demand webinar: Mambu + PwC + Credit Kudos in collaboration with Fintech Finance
They met to discuss what it means to “Buy now, pay later” in this age of digital payment solution adaptation.
👉 Watch the on-demand session here.
💬 INTERVIEW
Ten years ago, brothers John and Patrick Collison saw the need for better online commerce platforms, cutting out manual and monotonous processes otherwise needed for developers to allow efficient and safe online payments.
They developed Stripe Inc. in 2010, which offers an integrated suite of products and a global payment and treasury network.
“If you think about the global payment and treasury network, or what we call the GPTN., it’s meant to not only help abstract all of that complexity from a global payment infrastructure point of view but also help move money in a simple and borderless and a programmable way just like we do on the internet,” said Zaki Bajwa, global head of partner solution engineers at Stripe.
Bajwa spoke with Lisa Martin and David Nicholson, co-hosts of theCUBE, SiliconANGLE Media’s livestreaming studio, during AWS re:Invent.
👉 Check the full interview here.
💡INSIGHTS
Australia’s FinTech industry is thriving, creating thousands of new positions, attracting record investment, and turning on revenue streams quickly.
These players are now expanding globally, turning to markets including the UK, the US, Singapore, Canada, and Indonesia, according to the new EY Fintech Australia Census 2021.
Produced in collaboration with industry trade group FinTech Australia, and co-funded by the Australian Trade and Investment Commission (Austrade), the report gives an overview of the Australian FinTech sector, looking at emerging trends.
👉 Read the full FintechNews article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ The CEO of Qonto, Alexandre Prot, but also Tom Blomfield from Monzo and Guillaume Princen from Stripe, have just invested in the first funding round of Numeral, a startup born barely six months ago. Link here.
⭐️ Innopay’s Open Banking Monitor update Q4’21: Banks are stepping up their game. Link here.
⭐️ Indonesia's central bank on Tuesday launched a new retail payment system that its governor said will slash the cost of money transfers and support the country's booming digital economy. Link here.
⭐️ Supercharging the European tech ecosystem. Link here.
⭐️ Check out NSW Department of Planning, Industry, and Environment, Australia/Sydney FinTech landscape. Link here.
PAYMENTS
1LINK Ltd and Euronet Pakistan have entered into a strategic partnership to provide PayPak Credit Cards to all State Bank of Pakistan licensed credit card issuers. Link here.
Global payment gateway solutions provider Checkout.com saw “record-breaking payment processing growth” this year. Posting an increase of nearly 75% year-over-year in payment processing volumes in December of this year. Link here.
Through tokenization, Mastercard cardholders can make payments through a secure digital token without having to share their credit or debit card details such as card number and expiry date with a merchant. Link here.
BNPL
PollenPay, a UK-based Buy Now Pay Later (BNPL) company announced its exciting launch plans. Led by founder and CEO, Leon Wilson, the business aims to ease pressure on purchases, while ensuring greater levels of financial responsibility amongst its users. Link here.
OPEN BANKING
ABN AMRO’s Open Banking ambition is to offer its clients innovative services and products. One way they do this is by offering high-quality API products, so its clients can leverage ABN AMRO’s capabilities and expertise in their own business channels. Next to developing our own API products, they partner up with innovative organizations to search for new ways to serve our clients. The first partner API that is available is IBAN Name-Check. Link here.
European open banking platform Tink has completed the acquisition of leading German open banking infrastructure fintech, FinTecSystems, following regulatory approval. FinTecSystems is thereby becoming part of Tink. Link here.
CRYPTO
BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, announced a promotion with Simplex for residents of the United States to buy crypto seamlessly with no credit or debit card fees from within the BitPay Wallet app. Link here.
The number of mergers and acquisitions in the crypto and blockchain sectors more than doubled in 2021, and transaction volume boomed to more than $6 billion, according to a report from The Block Research. Link here.
DEFI
Rvvup announced a $7.5M seed investment led by HV Capital and Lakestar. The foundational team united in the summer of 2021 to build the global infrastructure to enable the interoperability of both the centralized and decentralized financial systems, empowering billions of people with more choice, and businesses with faster settlement and lower costs. Link here.
INVESTMENT
FXFlat Bank AG, the leading multi-asset broker based in Germany and regulated by BaFin, is expanding into the neighboring country of France in a milestone move that opens the door to the second-largest market in Europe. Link here.
INSURTECH
Nigerian startup Get It Done Now, a mobile fintech e-commerce platform where a user can access services and get loans and insurance, is expanding to Spain after strong early growth. Link here.
MOVERS & SHAKERS
Wombat wants to expand across Europe and launch new products and features in 2022. A strong and knowledgeable advisory team will come in handy to achieve those goals successfully.
The micro-investing platform has thus appointed former Revolut communications director Chad West to its advisory board in a move that follows the addition of ex-Hargreaves Lansdown CIO David Davies and ex-eToro Managing Director Iqbal Gandham.
👉 Read more here.
FINTECH MAPS
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.