The Most Popular Payment Methods in Italy by Ecommpay
Weekly news up to Tuesday, 18th of March 2025
👀 NEWS HIGHLIGHT
Klarna, a provider of buy now, pay later loans filed its IPO prospectus last week, and plans to go public on the New York Stock Exchange under ticker symbol KLAR.
Klarna, headquartered in Sweden, hasn’t yet disclosed the number of shares to be offered or the expected price range.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ The most popular payment methods in Italy by Ecommpay.
⭐️ MB Way becomes Portugal's top online payment method, says Marktest.
⭐️ Click to Pay made available at PayU for all Mastercard and Visa cardholders.
⭐️ E-commerce payments: Why it’s actually a powerhouse for growth.
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FINTECH
'Klarnageddon': Employees in limbo as FinTech startup preps for IPO. Employees whose positions have been eliminated remain on the payroll while seeking new roles within the company. If a suitable position is not found, they may be offered an exit package or opt to resign.
Raisin expands into the Nordics with Finland platform launch. The Finnish platform allows customers to compare and open deposit accounts across Europe seamlessly, all through one login. Users benefit from transparent terms, no fees, and a secure platform that has already facilitated over €70B in deposits.
Cleo released its 2024 Annual Report, doubling its ARR to $185m. The report showcases Cleo's expansion in user base, improvements in its AI-driven financial assistant, and strategic partnerships, emphasizing Cleo's focus on financial inclusion, offering users better insights into their spending and savings.
PAYMENTS
Revolut expands with a new POS terminal in Spain and growth in Poland. Revolut has launched Revolut Terminal, a point-of-sale device in Spain to meet the growing demand for fast and reliable payment solutions. The firm has also surpassed 1 million customers who signed-up to BLIK, the most popular Polish payment system, only 5 months after the official launch.
B2B payment platform Nilos expands to West Africa. As part of its mission to simplify cross-border transactions, the company is introducing instant payouts in the West African CFA franc (XOF) and integrating mobile money services to enhance accessibility for businesses and individuals.
Mastercard joins Visa and Revolut in claim against UK payments regulator. The companies are challenging certain regulatory decisions made by the FCA, which they argue are unfair or detrimental to their operations. This lawsuit underscores tensions between financial institutions and regulators over payment rules.
FCA seeks views on removing the £100 contactless limit. This could benefit consumers, merchants, and economic growth in the UK. Making regulation less prescriptive would also give firms greater control and could promote innovative payment methods or fraud prevention solutions.
REGTECH
Ecommpay responds to confirmation that the UK Government is abolishing the Payment Systems Regulator. Willem Wellinghoff, CCO and UK Chair of Ecommpay, expressed support for the UK government's efforts to streamline regulation and foster economic growth. However, he raised concerns about abolishing the Payment Systems Regulator (PSR) amid increasing scrutiny on payment systems and fraud risk management. Wellinghoff emphasized that a dedicated regulatory framework is essential for ensuring stability, innovation, and consumer protection.
Revolut optimises security features for retail users. This move is a response to the recent rise in phone snatching across big cities and the continued threat of phishing scams, especially in the financial service sector. Learn more
Atoa Payments receives FCA approval. The approval will now enable the company to extend its payment services to larger businesses across the UK, including payment initiation, virtual account, and payment account information services.
DIGITAL BANKING
Vivid Expands Across Europe: 30,000 businesses in five markets onboarded. The firm is expanding its SME financial platform to France, Italy, Spain, Luxembourg, and the Netherlands, leveraging its retail finance expertise for a seamless, borderless experience.
Revolut is hiring hundreds of new staff as it prepares to launch its UK bank. The UK banking unit has grown from a team of 35 to over 100, mainly through hires and internal transfers since receiving its restricted license last summer. The company is hiring from regulatory reporting analysts to financial risk controllers.
CRYPTO
Lightning-fast bitcoin payments with Bitwala. While Bitcoin offers unmatched security and sovereignty, the growing adoption created a challenge: high fees and slow transactions. The Lightning Network solves this by not compromising Bitcoin's core principles but building on them.
PARTNERSHIPS
Safello teams up with Zumo to set the standard for sustainability in Sweden’s crypto sector. Through this collaboration, the exchange will leverage Zumo’s expertise in carbon calculations and crypto sustainability impact to ensure accurate and transparent sustainability disclosures.
Apexx Global joins JPMorgan payments partner network. As merchants continue to demand more flexibility, speed, and choice in payments, they will provide a holistic solution that simplifies global transactions for merchants while optimizing acceptance rates and cost efficiencies.
Curve and Infact partner to bolster financial inclusivity. Curve Flex will now have transactions reported in real-time through Infact’s API-based system, uniquely suited to represent Credit Card and BNPL activity accurately to enable customers to build credit profiles instantly.
Santander and Amazon introduce Visa card in Austria that rewards customers with cashback for shopping on Amazon and other sites. The fee-free card does not require the opening of a new bank account. Keep reading
Alpian Bank partners with Amex to bring clients even more benefits. Through this collaboration, Alpian clients can apply for the American Express Platinum Card®, gaining access to premium services such as travel benefits, concierge services, and various rewards.
DONEDEAL
Rapyd raises $500m at $4.5b valuation to complete $610m PayU acquisition. Upon completion of the acquisition, the company will be able to execute transactions in over 100 countries using more than 1,200 payment methods. It will also hold a financial activity permit in 41 countries and maintain a wide range of partnerships.
Slovak Vestberry closed an investment of 2.2M EUR from Seed Starter České & Slovenské spořitelny, Venture to Future Fund and Zero One Hundred. The new investment will help Vestberry to further expand, especially into the American market.
Curve lands £37M in funding led by a VC firm that invests in early and growth stage startups. The company said its latest funding will help it on the road to make a full-year profit and new product launches. Keep reading
M&As
FinTech Billionaire’s Firm Vyacheslav Kim’s Kaspi.kz JSC said in talks to buy Rabobank Turkey. The negotiations come after the Dutch firm’s failed attempts to sell the unit, first to cryptocurrency exchange BtcTurk and then to construction conglomerate Ronesans Holding.
Shift4 Payments has acquired Global Blue. This acquisition aims to enhance Shift4's merchant services platform by integrating Global Blue's tax refund processing and multi-currency conversion capabilities, thereby connecting merchants with a broader base of affluent international shoppers.
UniCredit secures ECB's approval for Commerzbank stake. ECB approval was expected given UniCredit's strong balance sheet and the banking supervisor's supportive stance on consolidation efforts. Read more