Weekly Headlines 07 May 2021

7th May 2021

61% of Germans imagine using eCommerce-integrated embedded finance

93% of people consider using emerging payment methods in the next year

WhatsApp payments are available in Brazil

Core-banking platform Leveris partners with Marqeta

Blocser targets UK’s gig economy workers with Butterfly

EPC invites PSPs and non-PSPs for adherence to SEPA Request to Pay

UK shoppers abandoned £39.4bn worth of items in online shopping baskets during the pandemic

EBA CLEARING’s services reach new volume records

Remitly prepares IPO

 

 

61% of Germans can imagine using eCommerce-integrated embedded finance

Solarisbank and Handelsblatt Research Institute published a study on the development of embedded finance where they found that 61% of Germans can imagine using eCommerce-integrated embedded finance, and more than a quarter would be willing to open a checking account with Amazon.

 

93% of people will consider using at least one emerging payment method in the next year

Research from Mastercard shows that the adoption of new payment technologies is rising, and consumer appetite for new, fast and flexible digital experiences continues to grow. The Mastercard New Payments Index, conducted across 18 markets around the world, shows 93% of people will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year. Nearly two-thirds of respondents (63%) agree they have tried a new payment method they would not have tried under normal circumstances, but the pandemic has galvanized people to try flexible new payment options to get what they want, when they want it.

 

WhatsApp payments are available in Brazil

WhatsApp payments are available in Brazil as of 4th May to allow Brazilian users to send money to friends and family. WhatsApp Pay does not yet cover B2B payments.

 

Core-banking platform Leveris is partnering with Marqeta to integrate its card capabilities

Core-banking platform Leveris is partnering with Marqeta to integrate its card capabilities within the Leveris platform.

With Marqeta’s support, the Leveris platform will facilitate the issuance of virtual, physical and digital debit cards for multiple use cases, offering clients the ability to create virtual cards in real-time and push them instantly to mobile wallets. As well as card issuance, the partnership enables greater card parameterisation, fraud mitigation in card transactions and speed to market in a variety of currencies.

 

Blocser targets UK’s gig economy workers with Butterfly

Blocser, a Danish fintech start-up, has launched Butterfly in the UK to target gig economy workers.

The Butterfly card sits in an account which also includes billing features for freelancers, and digital business cards.

Users can receive digital payments direct to their Butterfly card. They can also make payment requests, generate contracts and receipts, chat with buyers via integrated mainstream messenger apps and design their own “webshops”.

 

EPC invites PSPs and non-PSPs for adherence to SEPA Request to Pay

The EPC is inviting PSPs and non-PSPs for adherence to the EPC’s SEPA Request to Pay (SRTP).

Entities wishing to apply for adherence to the scheme ahead of its 15 June 2021 effective date can find the application documents on the EPC website.

The SRTP is a messaging functionality that complements the end-to-end payment flow because it allows a payee to request the initiation of a payment from a payer in a wide range of both physical and online use cases.

 

UK shoppers abandoned £39.4bn worth of items in online shopping baskets during the pandemic

In what they call fantasy baskets, Barclaycard claims that UK shoppers abandoned £39.4bn worth of items in online shopping baskets during the pandemic. According to Barclaycard, high delivery costs (37%), cyber window shopping (26%) and lengthy authentication processes (24%) are the key drivers of dropouts.

 

EBA CLEARING’s services reach new volume records

On 6 April 2021, two of EBA CLEARING’s services reached new volume records. The 43.87 million transactions settled that day marked a new all-time peak for STEP2 SCT. The STEP2 CC Service saw a new volume record with a total of 30.13 million payments settled.

 

Remitly prepares IPO

Remitly has hired investment banks to prepare for an initial public offering this year that could value the remittance player at around $5 billion.

 

PSE Innovation Videos

Codat – Opportunities for Open Finance

In this full length conversation with Yasamin Karimi from Codat we discuss the benefits of Open Finance to acquirers as they seek to onboard new customers and carry out credit checks. Yasmin highlights the emerging opportunities of combining accounting, Open Banking, and commerce platform data to create a rounded view of where a business has been, its current cash position and its order pipeline.

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