ACCEPTANCE & PROCESSING

• Juniper Research has found that savings from the adoption of payment automation systems will allow reinvestment in revenue-generating activities; driving an 18% growth in UK B2B payments by 2028, from 8.7 billion in 2024. Automation of payment processes reduces the time spent by employees on transactions, saving money and generating extra revenue and efficiency at a key time of financial pressure within the UK economy.
• Ebay introduces new regulatory operating fee to combat rising costs associated with the increasing number and complexity of regulations, from 8th April 2024.

BNPL                          

• Zilch launches a new credit payment product, pay over 3 months.

CORPORATE ACTIVITY

• Global Payments nears deal for Takepayments expanding its business abroad that provides payment processing to retailers. The transaction is expected to value Takepayments at more than $250 million.
• com hit by over £100 million in losses in its UK company. The net losses of Checkout.com’s 2022 accounts are up 400% compared to the $25 million loss in 2021. The company reported a revenue of $246 million in 2022, a slight drop from $260 million in 2021.
• Mollie Capital goes live in the UK to provide retailers with up to GBP 250,000 in financing for growth.
• Monzo taking steps to finalise a deal to raise £350million to bring valuation to £4billion.
• Capital One to acquire Discover for $35 billion, Discover Financial shareholders are set to receive Capital One shares valued at nearly $140 each, signifying a substantial premium over recent closing prices.

FRAUD & CYBERSECURITY

• Cross border payments platform Verto chooses Resistant AI for document verification processes for customer onboarding and to expedite transaction processing

SCHEMES

• Visa reports strong growth in Germany for 2023. 33% growth in the number of transactions.