Marcel van Oost

Founder/CEO 

Connecting the dots in FinTech...

Connecting the dots in FinTech...

The largest FinTech community in the world of 100k+ FinTech Fanatics!

Join here: https://www.connectingthedotsinfin.tech

Founder

Connecting the dots in payments...

Founder & News Editor

Choice Financial

Choice Fin provides thoughtful and tailored global banking services. An accomplished BaaS sponsor bank since 2017, Choice Fin provides a wide array of financial and technological solutions guided by a #PeopleFirst mission. 

Choice Fin is a part of Choice Bank, a community bank dedicated to enhancing the quality of life and economic viability of families and businesses.

Advisory Board Member

Treinta

Investor

Mozper

Lana

Sokin

Penta Network

Advisor

Nufi (Techstars Western Union 2021)

Advisor and Investor

SproutFi (YC S21)

What do I want to become when I grow up? That's a question I asked myself for a long time. My childhood dream, playing for Ajax, was soon out of the question (I wasn’t even close…). So what's next? 

I studied Communication & Media, dropped out, and started working at an Acquiring Bank.

After these first steps in the Payments Industry I founded a Payments consultancy business, followed by a Collecting Payment Service Provider, with an exit in 2017. 

Nowadays I'm back in (FinTech-) Media, and invest as an Angel Investor in FinTech startups on the side.

NO, I don't do any speaker gigs, podcasts, webinars etc. 

I DO share the latest FinTech Industry trends and news updates here on Linkedin, and in my daily newsletter. 👉 Get the most important FinTech news and analysis in a 5 minute daily briefing you’ll actually look forward to reading, by signing up here: https://www.connectingthedotsinfin.tech

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FinTech, Financial Technology, Financial Services, Angel investing, Angel Investor, VC, Venture Capital, Payments, Online Payments, Mobile Payments, Digital Payments, Challenger Bank, Multi-Currency, Acquiring, KYC, Digital Bank, Digital Currency, Alternative Payments, Banking Technology, PSD2, PSD3, e-Wallets, Card Issuing, Debitcards, Creditcards, Prepaid Cards AML, Bankingapp , Big Data, Blockchain, CryptoCurrency, Tokenisation, Neobank, Artificial Intelligence, Digital Banking, Buy Now Pay Later, Paymentservices , Paytech , Bankingtech , Paymentsolutions , Open Banking , Bankingindustry

More signups = more success, right?

FinTechs be like:

Have a great weekend! 🤣

🚨 𝘽𝙍𝙀𝘼𝙆𝙄𝙉𝙂: Elon Musk's social media platform X announced the launch of a digital wallet and peer-to-peer payments services provided by Visa.

X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.

It’s the “first of many big announcements about X Money this year,” Yaccarino said in the post.

In a separate post Tuesday on X, Visa acknowledged the new alliance. 

“Visa Direct will make it possible for US X Money Account users to fund and transfer money in real-time with their debit card,” the post from Visa said in response to Yaccarino’s post. 

Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, like with Zelle or Venmo.

Source/more info: https://lnkd.in/dFg3wdrd


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How do consumers pay in Latin America? 

Here's a breakdown of the latest 2024 stats: 

1️⃣ 𝗖𝗿𝗲𝗱𝗶𝘁 𝗖𝗮𝗿𝗱𝘀: The king of digital payments, processing a massive USD 𝟮𝟲𝟲𝗕 in 2024 🤯

Visa, Mastercard, and American Express lead the charge across all markets, showing their continued dominance. But don't overlook regional powerhouses like Brazil's Cartão Elo and Hipercard Administradora de Cartões de Crédito Ltda. and Argentina's Cabal Argentina making significant inroads in their local markets.

2️⃣ 𝗣𝗜𝗫 by Banco Central do Brasil: The Brazilian payment revolution that's processing USD 𝟭𝟯𝟵𝗕 ❗️ 

This instant payment system has become so embedded in Brazilian daily life that it's not just a payment method anymore – it's a way of life. 

With over a billion transactions per month, PIX has transformed how Brazilians move money, proving that when convenience meets innovation, magic happens.

3️⃣ 𝗗𝗲𝗯𝗶𝘁 𝗖𝗮𝗿𝗱𝘀: A USD 𝟳𝟬𝗕 force in the region, with Visa and Mastercard leading the way. 

This reflects Latin America's perfect balance between digital convenience and direct bank account control. 

Watch how Chile's RedCompra by Transbank is enhancing these capabilities with local features tailored to their market's unique needs.

4️⃣ 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗪𝗮𝗹𝗹𝗲𝘁𝘀: Surging to USD 𝟲𝟯𝗕, we're seeing an explosion of innovation. 

Mercado Pago continues its regional dominance, while Nubank revolutionizes Brazil with over 90 million customers across the region. 

Country champions like Mexico's baz súperapp and Spin, Colombia's Nequi and Daviplata by Banco Davivienda, Argentina's MODO, Ualá and Naranja X, and Peru's Yape and Plin by Grupo Intercorp are transforming how millions manage their money. 

These aren't just payment tools – they're full financial ecosystems.

5️⃣ 𝗖𝗮𝘀𝗵 𝗩𝗼𝘂𝗰𝗵𝗲𝗿𝘀: At USD 𝟰𝟰𝗕, these payment methods prove cash is far from dead in LatAm. 

OXXO in Mexico, Boleto Bancário in Brazil, PagoEfectivo, A Paysafe experience in Peru, and Efecty in Colombia aren't just surviving – they're thriving by bridging the digital divide for millions of unbanked and underbanked consumers.

6️⃣ 𝗕𝗮𝗻𝗸 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿𝘀: Processing USD 𝟯𝟮𝗕, traditional banking isn't standing still. 

Each country has its own robust system: SPEI by Banco de México, PSE by ACH Colombia Oficial in Colombia, and Khipu in Chile are examples of how legacy institutions are adapting to the digital age.

I highly recommend reading the complete source piece by Tony Cueva Bravo (and follow him for more great payments insights👌): https://lnkd.in/dNP8UNhy


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🚨 𝘽𝙍𝙀𝘼𝙆𝙄𝙉𝙂: Nubank is considering moving its legal domicile to Britain 🇬🇧ahead of a global expansion that may include the United States 🇺🇸, its founder and CEO David Vélez told Reuters.

"We are actively thinking what are some of the jurisdictions that make sense for us to consider, as we think about the next 10 years of global expansion," Velez said on Monday.

"We are considering the UK," he added, while cautioning that tax changes bring "uncertainty in terms of jurisdiction and where to operate," Velez said in an interview on the sidelines of the World Economic Forum's annual meeting in Davos.

Velez said President Donald Trump's new U.S. administration, which has signalled a likely embrace of regulation for digital assets such as cryptocurrencies, should create a more favourable environment for Nubank to consider entering that market.

More info: https://lnkd.in/d2QA4pwG


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What is a 𝗦𝗪𝗜𝗙𝗧 𝗣𝗮𝘆𝗺𝗲𝗻𝘁? And how long do SWIFT Payments take?

Let’s dive in:
 
Despite the large number of cross-border payments being made daily, many people use SWIFT payments without fully understanding how it works and who is involved. 

A SWIFT payment, also commonly known as a SWIFT transfer, is a form of international money transfer facilitated by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

It involves a message containing payment instructions sent from one bank to another. 

These banks can be in different countries, and the payment typically follows a secure and standardized process. 

Not all SWIFT payments are simple one-to-one transactions; sometimes, intermediary or correspondent banks may also be involved, which can affect both the time and cost associated with the transfer. 

This interaction between banks largely determines the efficiency of the payment process.

Breakdown of Key Participants:

The Payer: The individual or entity initiating the payment.

Payer's Bank: The bank from which the payment originates.

The Receiver: The person or company receiving the funds.

Receiver's Bank: The bank where the funds are deposited.

Plus, Correspondent Banks or Intermediary banks play a significant role. They act as middlemen, helping to move funds between banks from different countries or dealing with different currencies.

For smooth and safe communication between banks, the SWIFT system uses specific messages:

► MT103: A message from the payer’s bank to the receiver's bank.
► MT202: A message that goes from the payer’s bank to intermediary banks, ensuring funds reach the right destination.
► MT910: A confirmation message indicating a successful credit transfer.

Statrys analysis of 2000 SWIFT payments reveals that the average processing time was: 𝟭𝟴 𝗵𝗼𝘂𝗿𝘀, 𝟭𝟴 𝗺𝗶𝗻𝘂𝘁𝗲𝘀, 𝗮𝗻𝗱 𝟯𝟮 𝘀𝗲𝗰𝗼𝗻𝗱𝘀.

Diving deeper into the payment processing durations segmented by currency:

💵 USD payments showcased an average processing time of 23 hours, 35 minutes, and 25 seconds.

💷 GBP transactions were quicker, averaging 4 hours, 27 minutes, and 0 seconds.

💶 Payments in Euros demonstrated the most prolonged average duration of 12 hours, 09 minutes, and 10 seconds.

I highly recommend reading the complete research report for more interesting info & stats: https://lnkd.in/ecvbwuXB 


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🚨 𝙅𝙐𝙎𝙏 𝙄𝙉: Revolut is expanding into commercial real estate as more signs emerge that the beleaguered market is starting to come back to life.

The London-headquartered neobank this month enlisted Duncan Batty, who previously led the real estate finance platform at M&G Investments, to oversee the new business.

Batty will be responsible for building the commercial real estate lending unit from scratch, according to the job description listed online.

“As Revolut continues to grow, we remain committed to identifying and pursuing new opportunities that drive our business expansion and innovation,” a company spokesperson said. 

Revolut is jumping into commercial real estate at a challenging time, with values depressed after the Covid-19 pandemic cleared out office buildings and with ongoing economic uncertainty.

Source/more info: https://lnkd.in/dFzz4a6M


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PayPal has emerged as the most preferred 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝘄𝗮𝗹𝗹𝗲𝘁 among Brazilians 🇧🇷, with a high usage or intended usage rate of 52%. Among higher-income groups, this percentage is even more impressive, reaching 71% 🤯 

PicPay and Mercado Pago share second place with 33% each. 

These findings come from the study “The Future of Brazilians’ Relationship with Money and Finances”, conducted by Croma Consultoria.

PicPay holds greater relevance among wealthier individuals, with 42% expressing an intention to continue using the wallet. 

This is attributed to its ease of use for peer-to-peer payments and attractive promotional offers.

Mercado Pago, on the other hand, has a strong connection with Generation X, with a 43% intended usage rate. This indicates the platform’s appeal to an age group that values the convenience of online shopping and access to financial services.

The study also highlights the performance of other brands like PagBank (21%), Google Pay (16%), and Iti (12%), which show modest usage intent. 

These platforms have a growing user base but lack the same level of loyalty seen with market leaders. 

Meanwhile, 99Pay (10%) and RecargaPay (8%) face significant challenges, suggesting the need for more effective engagement strategies.

Source/more info: https://lnkd.in/dCH8WsjN


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🚨 𝘽𝙍𝙀𝘼𝙆𝙄𝙉𝙂: Klarna ordered to halt In-Store Buy-Now-Pay-Later services.

The Dutch 🇳🇱 government has expressed concerns over increasing consumer debt. 

Over the past months, discussions have taken place with all BNPL service providers active in the Netherlands.

The government has long been concerned that BNPL services may lead to increased debt, especially among vulnerable groups like young people.

Recently, controversy arose over Adyen and Klarna’s plan to introduce BNPL services in physical retail stores. 

Critics argue that this would further lower the threshold for consumers to take on debt and normalize indebtedness. 

The Dutch government have strongly opposed this move, stating, “We will counter the expansion of BNPL into physical stores.”

The Ministry of Finance, the Ministry of Justice and Security, and the Ministry of Social Affairs and Employment summoned Adyen and Klarna to discuss the matter. 

Adyen and Klarna were specifically asked to stop their new in-store deferred payment service (see example in the video below👇 & more info here: https://lnkd.in/dcJMHaHE).

While a legal ban on in-store BNPL services is possible, implementing such a measure is considered impractical in the short term. 

Additionally, any national ban would likely be temporary as the European Union is currently drafting legislation on this issue.

Read more about it in this very interesting (Dutch) source article by Rutger Betlem : https://lnkd.in/dMupeXsA


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HSBC to close international payments app Zing a year after launch 🤯

Check this out:

Zing, the international payments app launched by HSBC just last year, is set to close down in the bank’s latest fintech flop, Financial News can reveal.

HSBC is preparing to inform employees that it has decided to axe the business following a struggle to restructure Zing’s compliance functions, codenamed Project Green, a person familiar with the matter said.

The FinTech had planned to launch to customers in the Netherlands as a first step to European expansion, documents and an archived version of its website show. 

The page allowing users to join its Netherlands waiting list has been taken down.

The documents show Zing also planned to acquire regulatory licences to serve customers in Singapore and the United Arab Emirates.

HSBC started work on Zing in early 2022 to create a direct competitor to Wise and Revolut, which have chipped away at the market share of traditional banks with cheap foreign exchange services.

Source/more info: https://lnkd.in/dk-JuttR


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🚨 𝙅𝙐𝙎𝙏 𝙄𝙉: Revolut launches in-app calling feature to tackle impersonation fraud, following high volumes of fraud complaints in the past.

The new feature targets impersonation scams in which criminals pretend to be a representative of a bank to gain access to sensitive details about their victim’s account, compromising their savings.

The feature seeks to drive down the success rate of these scams by providing a secure method for Revolut employees to speak to customers that scammers cannot hijack.

The fintech, which has more than 10 million customers in the UK and 50 million across the globe, has struggled with high volumes of fraud complaints in the past.

Reports in October last year showed that it was named in more fraud complaints than any major UK bank as some customers, being named in nearly 10,000 complaints last year – around 2,000 more than Barclays and over double that of Monzo.

These came as customers had difficulty contacting the bank when they realised that money was being stolen from their account.

The bank says that it takes the issue “very seriously” and says it has “invested heavily” into its Financial Crime team, which now numbers over 10,000 and makes up a third of its total global workforce.

Revolut’s Head of Financial Crime Woody Malouf, said “Impersonation scams can be a major hazard for many consumers.”

Source/more info: https://lnkd.in/dfvmpAu2


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🚨 𝙅𝙐𝙎𝙏 𝙄𝙉: Klarna scores global payment deal with Stripe to expand reach ahead of blockbuster U.S. 🇺🇸 IPO 

Klarna has agreed a major new distribution partnership with fellow FinTech unicorn 🦄 Stripe, in a bid to expand reach and add more merchants in the lead-up to its upcoming listing in the U.S.

The Swedish firm’s buy now, pay later (BNPL) service will become available as a payment option for merchants using Stripe’s payment tools in 26 countries, the two companies told CNBC today.

This isn’t the first time Klarna and Stripe, which is dual-headquartered in San Francisco, have partnered. 

In 2021, at the height of the Covid-19 pandemic-fueled fintech craze, Stripe announced Klarna would offer its BNPL plans to the firm’s merchants — but in a more limited capacity. 

The new deal comes with improve functionality for Stripe merchants, including the ability to A/B test Klarna and measure real-time conversion rates.

The new tie-up with Stripe gives Klarna a big boost at a time when it’s gearing up for a hotly anticipated initial public offering. 

Klarna confidentially filed to IPO in the United States in November. The company could fetch a valuation of as much as $𝟮𝟬 𝗯𝗶𝗹𝗹𝗶𝗼𝗻, according to a Bloomberg News report out last year.

“This is really significant for Klarna,” David Sykes, Klarna’s chief commercial officer, told CNBC, adding the company has already doubled the number of new merchants in the three months since it began implementing the new integration with Stripe in October: https://lnkd.in/dR9FZxz9


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🚨 Payment orchestration platform Yuno announced a strategic collaboration with PayPal: 

Yuno-powered merchants can now effortlessly offer PayPal’s secure and flexible payment option, broadening their market reach and unlocking new revenue streams. 

Trusted by millions worldwide, PayPal allows users to make purchases, transfer funds, and pay bills in a fast, easy, and secure way, without the need to repeatedly enter card payment information, contributing to reducing digital footprint and providing the security users are looking for. 

Catherine Kaupert, Global Head of Partnerships of Yuno, commented:

“We’re thrilled to team up with PayPal, a well-known and trusted name in digital payment processing globally. This integration further strengthens Yuno’s capabilities, allowing our merchants to tap into PayPal’s extensive network and drive growth with ease. Together, we are simplifying payments, making them more secure, and enabling businesses to scale without friction.”

Paola Fuentes Duclaud, Head of Partnerships for Hispanic Latam at PayPal, added:

"Our affiliation with Yuno integrates our entire product portfolio, including PayPal Checkout and credit and debit card payment processing to provide cutting-edge payment solutions for both customers and businesses. By joining forces, we are expanding the benefits of both companies’ offerings, giving consumers the option to select the payment method that suits them best and take advantage of Installments, which, according to recent data from AMVO, is one of the main incentives for Mexican consumers to make purchases through the digital channel".

Last year, Yuno secured $25 million in a Series A round led by Andreessen Horowitz, Tiger Global, DST Global Partners, Kaszek Ventures, and Monashees, fueling its expansion across Asia, Europe, the Middle East, and Africa.

Source: https://lnkd.in/dPKdsgZd


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Digital Banking Profitability Review 2024 👇

Digital banks across Europe, North America, and LATAM are reshaping the financial landscape, with profitability now emerging as a defining competitive factor. 

C-Innovation conducted an in-depth analysis of 28 digital banks, ranking them by profitability growth from 2022 to 2023 and highlighting their performance so far in 2024: https://lnkd.in/djE8_Uq9


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Understanding the Payments Flow between Visa and X Money partnership👇

With this partnership, X will allow its users to:

► Move money between bank accounts and an X Wallet
► Make peer-to-peer payments using Visa debit cards
► Store funds directly on X for future monetization and financial services

Here is more info about this 𝗕𝗥𝗘𝗔𝗞𝗜𝗡𝗚 𝗡𝗘𝗪𝗦 partnership announcement:  https://lnkd.in/d6nacxZz

And I highly recommend checking out this explainer by Dwayne Gefferie to know all about why this is a game changer: https://lnkd.in/dKJrg3CB


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Five years after launching in Mexico 🇲🇽, Nubank has reached 𝟭𝟬 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 customers in the country, doubling its customer base over the past 12 months, & transforming the lives of nearly 𝟭𝟮% of the adult Mexican population 🤯

“We are thankful for the 10 million customers who have placed their trust in Nu to seize control of their financial future. This milestone is not just a number: it’s a recognition of our customer-first business model and our commitment to liberate customers from financial complexity, as well as a reflection of the transformative power technology has on driving financial inclusion,” said Ivan Canales, Country Manager of Nu Mexico.

In a country where 42% of the population does not have access to financial services, Nu has allowed around 50%of its customers to access credit and 63% to earn yields over their savings for the first time, according to data from the Nu Impact study. 

The ease of saving through Cajitas has been the decisive factor for joining the platform.

Customer love for Nu’s products and services has also translated into business results. By Q3 2024, 18 months after the launch of Cuenta, the company surpassed 8.9 million customers in the country and $3.8 billion in deposits. 

Nu has invested over US$1.4 billion in the country, reflecting its commitment to the local market and making it one of the most important foreign investors in the Mexican financial sector. 


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Artificial Intelligence (AI) and robotics are not new to Financial Services. 

Let’s dive in:

More so than most industries, financial services and especially payments, have relied on machines for decades to automate and accelerate transactions between people. 

Transaction authorization, credit underwriting, fraud detection, digital identities, and autonomous payments are all examples of machine-driven innovations that help us to transact on a daily basis.

While recognizing the decades-long technological journey to date, it is clear that AI is now pushing FinTech beyond people-based dependencies. 

In this overview below👇, Flagship Advisory Partners listed examples where the usage of machine-/AI-driven decisions and robotics are well-established in the FinTech industry today: 

𝗖𝗿𝗲𝗱𝗶𝘁 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝗶𝗻𝗴: 

Credit scoring and predictive models such as those offered by FICO have been around for decades, always evolving and improving. 

Underwriting processes that once took days are now done in real-time. 

Beyond the traditional scoring algorithms that are generally regression-trained on application and credit bureau data, AI (machine-learning) based underwriting models use broader, more comprehensive data inputs to find incremental lending opportunities.

𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝗶𝗻𝗴: 

All payments involve payer and payee decisions to accept or deny the transaction, with a card authorization being a prominent example. 

Once a person presents an electronic payment, machines make these decisions and have for decades. 

Processors (merchant and bank) and networks now deploy AI models to optimize conversion while balancing potential fraud.

𝗙𝗿𝗮𝘂𝗱 𝗽𝗿𝗲𝘃𝗲𝗻𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗶𝗱𝗲𝗻𝘁𝗶𝘁𝘆 𝘃𝗲𝗿𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻: 

Paramount to making good transaction decisions, machines today recognize and validate our digital identities to avoid bad actors. 

Payment fraud detection is one of the most obvious examples of AI today. 

In parallel, forms of digital identities and technologies used to validate our identities continue to arise and evolve.

𝗔𝘂𝘁𝗼𝗺𝗮𝘁𝗲𝗱 𝘀𝗲𝗿𝘃𝗶𝗰𝗶𝗻𝗴: 

Servicing of financial services has migrated towards machine-based automation for many years, starting with the advent of banking chatbots in the mid/late 2010s. 

Self-servicing, real-time notifications, chatbots, and personalized web or app user experiences are all technologies that allow servicing without needing a person on the other end.

𝗢𝗿𝗰𝗵𝗲𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝘀𝗺𝗮𝗿𝘁 𝗿𝗼𝘂𝘁𝗶𝗻𝗴: 

Machines are now working to improve your checkout experience and to ensure your payment requests are optimized as they travel through the complex value chain of payments.

I highly recommend reading the complete source article for more info on this topic: https://bit.ly/4hOqrUT


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🚨 𝙅𝙐𝙎𝙏 𝙄𝙉: Checkout.com reports 45% Growth in Record-Breaking 2024

Here are the 2024 Highlights:

Checkout.com has announced a profitable close to 2024, achieving 45% year-over-year net revenue growth in its core commerce and FinTech business. 

𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗚𝗿𝗼𝘄𝘁𝗵: 

Over 300 merchants joined the network, including Ticketmaster, Bumble, and Heineken. The US business grew by more than 80%.

𝗚𝗹𝗼𝗯𝗮𝗹 𝗘𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻:

🇯🇵 Japan: Became the first global player to directly integrate with Visa and Mastercard, achieving a 4.15% uplift in acceptance rates.

🇸🇦 Saudi Arabia: Expanded domestic processing capabilities, supporting brands like Carrefour and Salla.

🇨🇦 Canada: Completed certifications to launch direct acquiring in early 2025.

🇧🇷 Brazil: Prepared to launch acquiring capabilities with Visa, Mastercard, and PIX in 2025.

𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝘁 𝗦𝘂𝗰𝗰𝗲𝘀𝘀: 

More than 40 merchants processed over $1 billion annually, with 67 merchants surpassing $10 million in a single day on Black Friday.

𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻:

Intelligent Acceptance drove $𝟵 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in additional merchant revenue since launch.

Launched Flow, a customizable payment interface improving acceptance rates by up to 4.8%.

CEO Guillaume Pousaz outlined bold targets for the year ahead, including 30% growth, sustained profitability, and a 15% increase in global headcount. 

The company aims to enhance its Checkout Business Account with competitive yields and further extend its global footprint.

"We are relentless in solving our merchants' toughest challenges, delivering payment performance and global access to help them thrive," Pousaz said.
 
The CEO previously said he would list his firm in the US. 

The company still has its sights eventually on the US where it is growing the fastest, according to a person close to the matter to Bloomberg.

Meron Colbeci, Checkout’s chief product officer, said to Bloomberg the firm has no current plans to IPO.

Source/more info: https://lnkd.in/dQs5SCgc 


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Apparently half of US 🇺🇸 consumers use Plaid’s Payments Tech 🤯

Revenue at Plaid jumped more than 25% last year, according to a person familiar with the matter to Bloomberg

The growth came despite what was a lean time for most fintechs, particularly those that serve consumers. 

As interest rates increased after the Covid-19 pandemic, FinTech funding dried up and borrowing suddenly became drastically more expensive. While many newcomers got squeezed, Plaid expanded. 

The company has also started offering identity verification and credit products, using the vast troves of information it gathers from its core business. 

Use of the ID tool surged more than 400% last year and use of its core payment product more than tripled, according to the company, which is based in San Francisco. 

“There’s just this truly renewed sense of optimism going into 2025,” Chief Executive Officer Zachary Perret said in an interview. 

“It’s way more fun to operate in fintech spring than it was to operate in fintech winter.”

He also said: “Our hope is that we will get there in the next couple years, but no plans for a 2025 IPO,”.

Source/more info: https://lnkd.in/dH2u5ch3

Source picture/infographic: Jas Shah


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🚨 𝙅𝙐𝙎𝙏 𝙄𝙉: Revolut is rolling out a new feature that allows customers to pay off their credit card debt in “instalments” & Revolut said that Ukrainians formed the largest waiting list the company had on a "global scale" 🤯

𝗖𝗿𝗲𝗱𝗶𝘁 𝗖𝗮𝗿𝗱 𝗶𝗻𝘀𝘁𝗮𝗹𝗺𝗲𝗻𝘁𝘀

Revolut, which is led in Ireland by country manager Malcolm Craig, launched its credit card two years ago and has seen an increase in sales by 87 per cent year-on-year. 

It maintains that it is the “number one lender for new credit card sales in Ireland”.

There are no additional fees for the feature, and users can make instalment plans across several purchases made on their cards.

Consumers can put up to €10,000 on their credit cards.

Robert Mooney said the company has more plans to add features to its product in the coming year, as well as its loans offering.

The fintech had already announced that it will enter the mortgage market during the summer of 2025. It claims to have 2.7 million customers in Ireland.

Source/more info: https://lnkd.in/ddKy-dyw

𝗨𝗸𝗿𝗮𝗶𝗻𝗲 🇺🇦

Currently, Ukrainian users can download the Revolut app and sign up for the waiting list. Verification is done via «Diia», a video recording, and a passport photo.

Revolut said that access to the beta test is being given to groups of users from this list. One of the groups received early access on January 6.

The company did not specify how many Ukrainians have already gained access to the application. 

"We can now confirm that this is the largest waiting list we have ever had on a global scale. It is clear that many people want to try Revolut, although this also means a great responsibility for us," Revolut noted.

Source/more info: https://lnkd.in/d_YvyDWB


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🚨 𝙅𝙐𝙎𝙏 𝙄𝙉: Mollie customers can now use their iPhone and the Mollie iOS app to accept contactless payments (𝗔𝗽𝗽𝗹𝗲 𝗧𝗮𝗽 𝘁𝗼 𝗣𝗮𝘆) without the need to purchase or manage additional hardware in the following countries:

Tap to Pay on iPhone – which Mollie launched in November for its 250,000 customers in The Netherlands, France and Germany – is now available to its  merchants in Austria🇦🇹, Italy🇮🇹 and the United Kingdom🇬🇧

Tap to Pay on iPhone allows merchants of all sizes to accept all forms of contactless payments, including contactless credit and debit cards, Apple Pay, and other digital wallets, using only an iPhone and the Mollie app — no additional hardware or payment terminal needed. 

In line with Mollie’s mission to make money management effortless for every business in Europe, this exciting development further empowers Mollie’s customers with a fast, convenient and secure way to accept payments right in the palm of their hand. 

This addition adds yet another benefit to businesses who use the Mollie app on a daily basis - where they are able to run their businesses from anywhere - tracking payments and refunds, accessing funding and managing accounting.

Koen Köppen, CEO of Mollie, said: 

“We are laser-focused on ensuring every business in Austria, Italy and the UK is able to offer a seamless checkout experience and offer all of the relevant payment methods - whether online or in-person. We are excited to offer Tap to Pay on iPhone in another three markets, allowing local businesses to give their customers more choice and flexibility. This is an exciting step forward in our mission to make money management effortless for every business in Europe.” 

Source/more info: https://lnkd.in/dZu6Pqtn


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#payments #paytech #digitalpayments Adriaan Mol #fintech #financialtechnology #fintechindustry #fintechnews

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