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Plaid raised $575 million in a down round valuing the company at $6.1 billion, which is less than half its 2021 valuation. The funding will support employee restricted stock units tax obligations and provide internal liquidity. Plaid’s delayed IPO likely reflects US open banking uncertainty, as the CFPB finalizes its data access rule. Waiting for regulatory clarity and consumer awareness could position Plaid for a stronger public debut down the road.
Singapore and Hong Kong-licensed payment institution FOMO Pay has launched local Vietnamese Dong (VND) virtual accounts. The service enables merchants, corporates, and institutions to send and receive VND within Vietnam using locally issued virtual accounts under their own names via the countrys local payment infrastructure. The introduction of VND accounts aims to support cross-border transactions involving Vietnam by potentially speeding up settlement, simplifying payment reconciliation, and i
According to the Worldwide Retail Ecommerce Forecast 2024 by eMarketer, eCommerce will account for 21.0% of retail sales in 2025, amounting to $6.862 trillion. This is expected to grow to 22.6% and reach $7.956 trillion by 2027. Like most business owners, your instincts tell you to hop on the bandwagon and launch an online store for your business. But launching your eCommerce store is just half the equationaccepting payments efficiently and effectively is a whole different ball game.
SNEAK PEAK: PAY360 state of payments survey 2024 findings revealed August 22, 2024 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The findings of The Payments Association’s State of the Industry 2024 survey, which examines the current state and future challenges of the payments industry. Why is it important? It provides crucial insights into emerging trends, challenges, and opportunities in the payments sector, helping stakeholders make informed decisions.
Speaker: Benjamin Woll, Tiffany Spizzo, and Jaime Santos Alcón
Enterprise commerce is at an inflection point. Rigid, monolithic platforms slow brands down, but a full replatforming is disruptive and costly. Modular architecture offers a flexible, scalable alternative - allowing enterprise brands to modernize without ripping and replacing their entire stack. Learn how a composable approach helps modernize commerce stacks while maintaining control over critical systems.
The proposed $35 billion merger between Capital One Financial Corp. and Discover Financial Services cleared a major regulatory hurdle as the US Justice Department told financial regulators in a confidential memo that it didnt have sufficient evidence to block the transaction. The DOJ memo to the Federal Reserve and Office of the Comptroller of the […] The post Capital One-Discover deal waved ahead by antitrust officials appeared first on Bank Automation News.
CONT ACTLESS: UK consumers used the technology more frequently in 2024 and their average spend was greater A record 94.6% of all eligible in-store card transactions were made using contactless in the UK in 2024, Barclays reports, “surpassing the previous years record of 93.4%” Shoppers also used the technology more frequently in 2024 on average, 236 times across the year compared to 231 times in 2023.
ASG2 Pte Ltd, a subsidiary of Singapore-based business finance platform Aspire , has received a Capital Markets Services (CMS) License from the Monetary Authority of Singapore (MAS). The license enables the company to offer regulated investment solutions to businesses in Singapore. Aspire plans to roll out a new investment feature called Aspire Yield , integrated into its existing business accounts.
ASG2 Pte Ltd, a subsidiary of Singapore-based business finance platform Aspire , has received a Capital Markets Services (CMS) License from the Monetary Authority of Singapore (MAS). The license enables the company to offer regulated investment solutions to businesses in Singapore. Aspire plans to roll out a new investment feature called Aspire Yield , integrated into its existing business accounts.
Mastercard announced a strategic collaboration with PayTabs Group to facilitate digital payment solutions for small and medium enterprises in Egypt. Through this collaboration, PayTabs will leverage Mastercard’s global network and digital payments capabilities to provide merchants with a while-labelled digital payments platform. This solution is designed to elevate payment acceptance capabilities for small and medium enterprises, driving the widespread adoption of contactless payments whil
More than three quarters of British payments platforms are losing more than 5% of their revenue to fraud every year, according to a survey of senior UK financial services fraud professionals. The survey, which forms the basis of the ‘Global Industry Pulse Report’ published by identity verification specialist Veriff, found that online fraud is a growing threat to UK businesses, with 73% suffering a negative hit to their revenue over the past 12 months.
Money movement innovator Wise Platform has partnered with UK-based digital bank Zempler Bank. The partnership will enable Zempler Bank to launch a new Outbound International Payments service that will allow its customers to make international payments in both USD and EUR. Wise has 16 million individual and business users around the world. The London-based company made its Finovate debut at FinovateEurope 2013.
Adoption of digital travel credentials (DTCs) will reach 15% globally by 2034 “as technical specifications, solidification of supporting infrastructure, growing digital maturity, and deepening interoperability converge to prime the digital ID space,” ABI Research predicts. While Digital Travel Credentials (DTCs) are a natural evolution from e-passports, their implementation will be gradual due to the security-sensitive nature of travel, border control, and immigration,” the res
Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting
Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical
A consortium of central banks has formally established Nexus Global Payments (NGP) in Singapore to manage a new multilateral cross-border payment system. The founding members are the Reserve Bank of India, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore (MAS), and the Bank of Thailand. NGP, incorporated as a non-profit company limited by guarantee, will oversee the operationalisation of the Nexus scheme.
PayJunction , a leading tech-focused payments company, has announced an integration with Zapier , the workflow automation platform for businesses of all sizes, that enables the creation of custom, scalable automations that meet their unique business needs in minutes. Through this integration, PayJunction merchants can now replace tedious manual workflows with powerful automations that seamlessly fit with their current systems and tech stack. “Combining our people-first approach to payments
SNEAK PEAK: Unveiled: Key Financial Crime 360 findings July 16, 2024 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The findings of the Financial Crime 360 survey, focusing on the challenges, prevalent fraud types, and strategic responses across various sectors. Why is it important? It underscores the critical need for advanced technologies, regulatory compliance, and comprehensive strategies to effectively combat financial crime and safeguard the financial ecosys
Payments solutions provider Spire has launched a pay-by-bank solution designed to cut transaction fees and boost consumer rewards. The Pay with Spire platform uses the Discover Network to facilitate ACH point-of-sale transactions with 50%-90% lower merchant processing fees than the respective industry averages of 2.5% and 1.7% for credit and debit card transactions, Matt Brennan, […] The post Discover, Spire cut merchant processing fees by up to 90% appeared first on Bank Automation News.
Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?
Close to nine in ten (87.1%) of all card payments made in Ireland last year were contactless and more than half of those were made using an NFC mobile phone, Banking & Payments Federation Ireland (BPFI) reports. “Over 1.5bn contactless point of sale (POS) payments, valued at 26.7 billion, were made in shops, restaurants and other retail outlets in 2024,” the organisation says.
Ripple announced it has added its US dollar-backed stablecoin, RLUSD, to its Ripple Payments platform to support enterprise cross-border transactions using the digital asset. RLUSD, launched in December 2024, is designed primarily for business applications rather than retail use. Ripple said the stablecoin is aimed at improving the speed and reducing the cost of international payments processed through its network.
FIS ® (NYSE: FIS), a global leader in financial technology, today announced that its Premium Payback solution has been chosen to power the real-time rewards redemption process for Bilt. Launched in 2021, Bilt is the pioneering payments and commerce network that transforms housing and neighborhood spending into rewards and benefits for everyone involved.
Enabling Ghanaians to receive money from abroad directly into their bank accounts or mobile money wallets, African paytech Flutterwave has launched Send App in the country. With Send App , individuals and businesses in Ghana can now receive international transfers effortlessly. Whether for family support, school fees, business transactions, or essential expenses.
Build a sustainable merchant services portfolio with practical strategies to ensure long-term success. Diversify across industries to spread risk and stabilize income, balancing high-risk and low-risk clients for a robust mix. Combine large and small merchants to create a resilient payment portfolio, leveraging each type's strengths. Foster long-term relationships through exceptional service and personalized support.
Nearly 75% of banks are actively exploring the deployment of gen AI technologies according to a Temenos report published today. The study, conducted by Hanover Research, surveyed 420 business and technology leaders in financial services in February and indicates that 36% of banks have already implemented or are implementing gen AI, while an additional 39% […] The post Survey reveals 75% of banks exploring gen AI use appeared first on Bank Automation News.
SumUp announced the launch of a wide range of new products and solutions at its annual event this week. The new offerings include a proprietary Tap to Pay on Android solution, an upgraded Business Account, as well as enhancements to its point of sale solution. London-based SumUp won Best of Show in its Finovate debut at FinovateEurope 2013. Ecommerce and payments platform SumUp took the occasion of its annual Beacon event to announce the launch of a range of new products designed to address a va
MariBank has introduced a new remittance service for both retail and business users, becoming the first digital bank in Singapore to offer such transfers across both segments. The service, called MariBank Overseas Transfers , allows users to send money to 13 destinations in 10 currencies with competitive exchange rates. Currently available on an invite-only basis, the full launch is expected by the end of April, with more destinations to be added in the coming months.
Adyen , the financial technology platform of choice for leading companies, today announced its expanded partnership with Temu , the global e-commerce platform that connects consumers with millions of merchandise partners, manufacturers and brands. Adyen helped Temu go live in the U.S. in 2022, and has since partnered with the online shopping platform in Canada, Europe, Oceania, South Asia, United Arab Emirates, the United Kingdom, and most recently, more South American countries. “TemuR
Speaker: David Nisbet, Everett Zufelt, and Michaela Weber
Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.
WhatsApp prides itself on the security of its encrypted messages, however, according to new research from Revolut, the global fintech with 11 million UK customers and 50 million globally, UK consumers are losing an average of 2,437 from scams originating on the communications platform. Revoluts analysis showed that Brits are the most vulnerable to WhatsApp fraud , ranking the worst affected in Europe in 2024.
Increased personalization and better financial management tools are driving satisfaction as more consumers rely on digital platforms to handle payments, lending, budgeting, wealth management and portfolio adjustments. Satisfaction among retail consumers in 2025 rose 11 points year over year to 655 on a 1,000-point scale, with customizable budgeting tools among key factors, according to the […] The post Personalization driving Allys Savings Buckets appeared first on Bank Automation News.
Arta Finance has launched Arta AI , an artificial intelligence-powered tool aimed at helping users manage their wealth through a digital interface. The platform enables clients to engage with a suite of AI agents for portfolio analysis, investment planning, and financial insights. The new feature is designed to offer personalized, on-demand assistance through voice or text, allowing users to ask questions such as How is my portfolio performing?
Fulfillment is no longer just about getting products from point A to point B – it's about crafting seamless, scalable, customer first experiences. Flexible fulfillment strategies are more important than ever for those aiming to stay ahead and build resilience as retail enters a new era in 2025. Learn how to optimize fulfillment processes, tackle complex, multi-vendor orders, and create seamless customer experiences – from white-glove delivery for high-value items to quick-ship solutions for ever
PXP , the omnichannel global payment platform and innovative industry disruptor, today announces a new strategic partnership with PayXpert Ltd. a pioneer in omnichannel payments serving local and international brands both online and in-store. The collaboration will enable UK merchants to accept QR-based payments, including Alipay+ and WeChat Pay, enhancing accessibility for international customers, particularly from China.
Following a new partnership between Centiglobe , the cross-border payment infrastructure solutions provider, and Mastercard Move , Mastercard s portfolio of global money movement solutions, customers using Centiglobe’s blockchain-based payments platform will now be able to use Mastercard Move through a single integration. By integrating with Mastercard Move through the Centiglobe payments platform, banks and payment service providers gain access to a broad range of money movement options,
AKUVO secured a new investment from Washington State Employees Credit Union (WSECU), adding to its $13 million in previously raised funds. The investment will help AKUVO expand its cloud-native collections and credit risk solutions, enhancing efficiency and customer experience for banks, credit unions, and fintechs. The move signals growing interest in modernizing collections technology across the financial services industry amid economic uncertainty and evolving consumer behavior.
American Express is developing payments solutions for small to medium-sized businesses through collaboration. By working with fintechs, the payments giant can develop solutions quickly, giving SMBs the peace of mind of working with reliable banking partners, Widad Chaoui, senior vice president, corporate and B2B solutions product management, global commercial services, told Bank Automation News.
Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms
In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.
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