Global FinTech | 2022 #5
Weekly news up to Tuesday, February 1st, 2022
REPORT
MEDICI Global has identified PayPal, Square, Razorpay, Adyen, and Stripe as the largest payment gateways based on their Total Payment Volume (TPV). 👉 Read the full article here.
👀 NEWS HIGHLIGHT
Block has completed its $29bn acquisition of ‘buy now, pay later firm Afterpay.
“We’re excited to welcome the Afterpay team to Block and are eager to get to work,” said Jack Dorsey, Block co-founder, and CEO. 👉 Read the full AltFi article here.
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📊 INFOGRAPHIC
💳 MVO CARD COLLECTION
Samsung Electronics is offering the industry’s first all-in-one chip solution for biometrics-based identity authentication using fingerprints.
👉 Read the full article here.
📰 ARTICLE
Ryan Breslow, a founder of Bolt, said he’s stepping down as chief executive officer, two weeks after securing an $11 billion valuation for the business.
👉 Read the full article here.
👀 Also, Ryan Breslow, claimed that Stripe and Y Combinator are “mob bosses,” using “every power move imaginable” to block competitors from becoming successful. Link here.
👨💻 BLOG
📰 ARTICLE
👉 Look at some of the key metaverse initiatives that WhiteSight is presenting here.
💬 INTERVIEW
Vroon Modgill, chief executive and founder of Sokin, talks to i about the need to build better financial services for economic migrants with families to support across the world. Link here.
💡INSIGHTS
Rob Moffat, a partner at Balderton Capital, said that as well as higher inflation and interest rates increasing the risk on capital investment, institutional investors were also becoming more risk-averse.
👉 Read the full article here.
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NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Groupon shares are getting a huge lift from a substantial appreciation of the company’s stake in the U.K.-based payments company SumUp. Link here.
⭐️ Dogecoin millionaire Glauber Contessoto said that a Visa Inc based Dogecard will soon be unveiled. Link here.
⭐️A new study by NordVPN states that the average price of a British payment card is 11 pounds and 6 cents. Link here.
⭐️ WhiteSight is looking at Amazon’s Payment adventures during the last 30 months. Link here.
⭐️ Tech unicorns – start-ups valued at $1bn or more – used to be in short supply in France. Link here.
⭐️ A financial technology start-up that Walmart created and backed said it is acquiring two more companies as it aims to build an all-in-one app where consumers can manage their money. Link here.
PAYMENTS
destream is launching a bank card for streamers and internet content creators. Link here.
NALA raised $10 million in a new fundraising round. Link here.
Mastercard Inc beat quarterly profit expectations as domestic spending through its cards rose and cross-border volumes grew. Link here.
Jeff Campbell, CFO of American Express made clear that a crypto-linked card isn’t in the near future. Link here.
PayAlly has received an Electronic Money Institution (EMI) license. Link here.
Apple is planning a new service that will let small businesses accept payments directly on their iPhones without any extra hardware. Link here.
Mollie announced its partnership with subscription management platform Chargebee to help drive growth for its customers. Link here.
Klarna is embedding its service into a physical card in the U.K. Link here.
Spanish entrepreneurs now have access to Square. Link here.
Stripe has done a deal with Spotify to make it easier for podcasters to accept payments and ensure revenue becomes recurring. Link here.
BNPL
Biller is set to join the Banking Circle ecosystem of financial services and applications. Link here.
PayPal Germany announced the launch of its new payment option ‘Payment after 30 days’. Link here.
Hepsipay announced that Hepsipay Wallet users will be able to 'buy now' and make their payments one month later than the purchase date. Link here.
Zip Co is in talks with rival Sezzle about a potential takeover. Link here.
OPEN BANKING
Subaio chose European open banking leader Aiia to enable a smarter way for assessing creditworthiness through Subaio’s new white-label offering. Link here.
TrueLayer has expanded its open baking platform to five new European countries. Link here.
CRYPTO
Modulr announced a partnership with Ripple. Link here.
CoinMENA has obtained a second cryptocurrency license from the European Union. Link here.
Visa stated that its customers made $2.5 billion in payments using its crypto-linked cards during the first fiscal quarter of 2022. Link here.
The unprecedented influx of institutional capital into crypto last year elevated cryptocurrency custodian Fireblocks to the ranks of unicorns. Link here.
Diem's reported sale appears to be an attempt to return some value to its investors, who committed $10 million apiece when the association of the then-Libra Association launched. Link here.
Affirm Holdings beefed up its app as the firm works toward a crypto offering. Link here.
MoonPay has released a plug-and-play service for buying and selling NFTs with a credit card. Link here.
OPPORTUNITIES
Matt Cheung advice is to not just look for graduate jobs in the big banks when a faster-growing and more exciting alternative is on offer. Link here.
Worldline is to hire more than 5000 staff over the next few months to cement its position as a global paytech. Link here.