Weekly Headlines 15 January 2021

15th January 2021

BIS on pandemic impact on e-Commerce

FCA warns on cryptoassets

OBIE on three year anniversary of PSD2

Survey on UK Digital Banking uptake

eBay rollout of managed payments to sellers

Mastercard Cloud Tap-on-phone pilot

Visa and Plaid terminate merger

Check-out.com $15 billion valuation

Rapyd raises $300 million


BISE-commerce in the pandemic and beyond.   Article

E-commerce has ramped up during the pandemic around the world. The growth has differed across sectors and over different stages of the pandemic. Novel data sources can help to follow these trends. The growth of e-commerce has been higher in countries where there were more stringent containment measures and where e-commerce was initially less developed.


The FCA has warned consumers of the risks of investments advertising high returns based on cryptoassets.

The FCA says that as with all high-risk, speculative investments, consumers should make sure they understand what they are investing in, the risks associated with investing, and any regulatory protections that apply. If consumers invest in these types of product, they should be prepared to lose all their money.


OBIEThree years since PSD2 marked the start of Open Banking.

OBIE marks the third anniversary saying that 300 fintechs and innovative providers have joined the ecosystem with more than 2.5 million UK consumers and businesses now using open banking-enabled products. API call volume has increased from 66.8 million in 2018 to nearly 6 billion in 2020.


Digital BankingOver a quarter of UK adults have at least one bank account with a digital bank.

A survey indicates that 14 million (27%) UK adults have an account with a digital bank, with 5.7 million saying they plan on opening one in 2021.  However, 55% of participants said they currently had no plans to open one, a slight increase from 2020. Not surprisingly younger people tend to have them, with 46% of those aged 24 and under having one. Although earlier research by Finder indicated low numbers using their accounts as the main one, the current survey appears not to have gained any new data.


eBayConsumer Sellers: Getting Paid on eBay Just Got Easier.

eBay has announced that it will be expanding its management of payments to consumer sellers by the end of 2021. Consumer sellers will no longer need to maintain two separate customer service relationships to manage their business and everything can be done in the eBay mobile app, My eBay or Seller Hub on the web.


Mastercard has partnered with NMI and Global Payments to launch its first live Cloud Tap on Phone pilot.

The pilot is being run with Computer Engineering Group, an independent IT Services provider. Cloud Tap on Phone is billed as one of Mastercard’s next generation acceptance products, with the software hosted on Microsoft’s Azure cloud platform. Cloud POS moves key parts of the acceptance software from the individual smartphone to the cloud, giving Mastercard and its partners a new delivery channel. Mastercard will make its pre-certified Cloud POS SDKs openly available in multiple cloud environments.


Visa and Plaid have terminated their merger agreementPlaid Blog

The two companies have also agreed with the Department of Justice to dismiss the litigation related to the proposed transaction. Both parties regard the proposed deal as having ‘significant benefits’ and been a ‘great combination’, the threat from the DoJ litigation was clearly deemed too problematical.  Plaid says it will work with Visa as an investor and partner to focus on building the infrastructure to support fintech.


Checkout.com has closed a $450 million Series C funding round. Techcrunch

The round propels the business to a post-money valuation of $15 billion, making it the fourth largest fintech globally and Europe’s most valuable venture-backed business.  The new funding will be used to further grow its balance sheet, claimed as one of the strongest across global fintechs, and drive new innovative opportunities. It has also opened offices in NYC and Denver to meet growing US demand for enterprise payments solutions.


Rapyd has raised $300 million in a Series D financing round.

The new financing will be used to double the engineering and product teams, as well as expand the “Self-Service” element of Rapyd’s platform. The company will continue its focus on core markets that serve B2C and B2B eCommerce payments, marketplace, and financial services businesses. It will also explore additional strategic acquisitions globally.


PSE Innovation Videos

Payoneer – Marketplace & Orchestration Convergence

In this great conversation, Lochan Sim from Payoneer provides his perspectives on the convergence between marketplace and orchestration. We discuss the benefits of build versus buy for merchants and the opportunities for merchant to source best of breed acceptance from multiple suppliers.

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