Weekly Headlines

15th July 2022

Adyen launches Tap-To-Pay for iPhones

Zip terminates $491mn Sezzle merger

Deutsche Bank develops white-label BNPL

Stripe reduces valuation by 28%

Monzo narrows losses to £119mn

STEP2 allows real-time settlement of SEPA

Plaid opens network to crypto exchanges

Consumers demand contactless payments for transit

 

Adyen launches Tap-To-Pay for iPhones

Following Adyen’s previous announcement that they will launch SoftPOS this year, Adyen launches Tap-To-Pay for iPhones.

 

Zip terminates $491mn Sezzle merger

Zip terminates $491 million merger deal with Sezzle by mutual agreement considering the current macroeconomic and market conditions, and are sounding out buyers for their UK business. It is unknown if this part of the business will terminate if a buyer is not found.

 

Deutsche Bank develops white-label BNPL

Deutsche Bank is developing a white label buy now, pay later product for online retailers and e-commerce marketplaces, in partnership with Credi2. Deutsche Bank will fund the sale and evaluate the payment and fraud in real time.

 

Stripe reduces valuation by 28%

Stripe has reduced valuation by 28%. They have set the share price at $29 versus the previous calculation of $40 which reduces the valuation by $21 billion.

 

Monzo narrows losses to £119mn

Monzo has narrowed losses to £119 million from £131 million in the previous financial year. Monzo are reporting a 92% surge in revenue due to increased card spending following the pandemic and a surge in sign-ups to their premium fee-paying accounts.

 

STEP2 allows real-time settlement of SEPA

STEP2 has migrated to the continuous gross settlement (CGS) mechanism. CGS enables real-time settlement of large payment volumes at any time during the business day and has replaced a cycle-based system where payment transactions were only settled several times a day.

 

Plaid opens network to crypto exchanges

Crypto exchanges are now available on the Plaid network, including Binance.US, Gemini, Robinhood, and SoFi. Customers with cryptocurrency assets in these exchanges will now be able to securely share account information, including asset types, balances and transactions with the apps they use.

 

Consumers demand contactless payments for transit

Consumers demand contactless payments for transit. 91% of respondents in Visa’s Future of Urban Mobility survey said they expect public transit to offer contactless payments and more customers will travel with contactless ways to pay.

 

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Weekly Headlines

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