Weekly Headlines 3 December 2021

3rd December 2021

Black Friday payment data reveals 51% increase in BNPL usage

PayPal’s Pay in 4 saw its volume up by 400% on Black Friday

Brits will rely on BNPL for Christmas

Barclays says unregulated BNPL is a growing risk

Executives of cryptocurrency firms have been called to testify before a US congressional committee

Monzo enables business clients to accept mobile payments

FCA removes 3-month re-authentication requirement

Ingenico launches Payments Platform as a Service solution

Stripe powers TikTok Tips feature

 

Black Friday payment data reveals 51% increase in BNPL usage

Mollie’sBlack Friday payment data reveals 51% increase in BNPL usage. The analysis insights into online payment trends for small and medium-sized retailers on Black Friday, Cyber Week and Cyber Monday across tens of thousands of merchants across Europe, primarily from Germany, U.K., France, the Netherlands and Belgium.

 

PayPal’s Pay in 4 saw its volume up by 400% on Black Friday

PayPal’sPay in 4 saw its volume up by 400% on Black Friday. According to CEO Dan Schulman there were about 750,000 transactions alone in one day on Black Friday.

 

Brits will rely on BNPL for Christmas

Even if different reports mention different figures, Brits will rely on BNPL for Christmas.Citizen’s Advice found that one in 10 Brits will rely on BNPL for ChristmasButter found out that the figure will be as high as 22%.

 

Barclays says unregulated BNPL is a growing risk

Barclays says unregulated BNPL is a growing riskas research finds that 36% of BNPL users do not fully understand the consequences of missing repayments. The research, conducted by Opinium for Barclays, also found that 36% said they are using BNPL to spend more than they can afford and 35% expect to use BNPL more often as the cost of living increases.

 

Executives of cryptocurrency firms have been called to testify before a US congressional committee

Executives of eight major cryptocurrency firms have been called to testify before a US congressional committeeon 8 December. US politicians across the political spectrum have called for more scrutiny of crypto-currencies. It will be the first time companies representing the controversial sector have been questioned in this way.

 

Monzo enables business clients to accept mobile payments

Monzo has partnered with Stripe to enable its Business clients to accept Apple Pay and Google Pay payments.

 

FCA removes 3-month re-authentication requirement

FCA boosts Open Banking by removing 3-month re-authentication requirement. TPPs will no longer need to re-authenticate customers every ninety days for continued access to bank account data, but they will need to prove customer consent.

 

Ingenico launches Payments Platform as a Service solution

Ingenico has announced the full commercial launch of its Payments Platform as a Service solution. PPaaS is a suite of payment and commerce services that combines proprietary solutions for managing terminals with third-party applications and alternative payment methods. The cloud-based platform is developer-focused and device agnostic, meaning it can work with any payment terminal.

 

Stripe powers TikTok Tips feature

Stripe was chosen by TikTok to power its Tips feature. The new Tips feature allows people to directly show gratitude to creators for their content tipping them. Stripe is also powering a dashboard to make possible for creators to sign up in seconds and manage their earnings.

 

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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