Connecting the dots in payments...

Capgemini latest report predicts instant payments will account for 22% of all non-cash transaction volumes by 2028 globally 🤯 Non-cash transaction volumes rose to 1,411 billion in 2023 and are on track to reach 1,650 billion in 2024. Read the complete #fintechreport for more info: https://lnkd.in/eDaQAwSs

Ant Group sees 300% rise in international users adopting mobile payment in China in 2024. Speaking at the 2024 INCLUSION·Conference on the Bund, Cyril Han, President and CFO of Ant Group, said transaction volumes of inbound tourists using Ant-supported mobile payment services grew by sixfold between March and August 2024 year-on-year. This surge has created significant business opportunities for local merchants. The number of Chinese merchants regularly servicing overseas travelers through the company’s mobile payment solutions have tripled during the same period. Since 2019, Ant Group, with the support of the People’s Bank of China, has collaborated with international card networks and overseas digital wallets to drive innovation in inbound mobile payments, a collective effort known as the China Payment Facilitation Partnership. During the 2023 Hangzhou Asian Games, Ant introduced two mobile payment solutions for international visitors, and the number of supported international payment partners has continued to grow since then. Source: https://lnkd.in/eNcFs8xa Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #paymentindustry #fintech #financialtechnology #financialservices

McLEAR shuts down pre-paid payment ring programme. McLear's pre-paid programme comprises a pre-paid acccount managed by Railsr subsidiary PayrNet, a mobile app and a smart payment ring. "Due to the increasing complexity and costs of maintaining the McLear Ring prepaid programme, we’ve made the extremely difficult decision to discontinue the programme," the firm states. "We will be focusing on strengthening and supporting strategic business relationships and continuing to develop new and more efficient technologies." The firm has contacted all customers warning them that thet should empty their accounts by 31 October, after which their payment rings will be disabled. Customers who miss the deadline will be contacted in the aftermath with instructions for how to reclaim any outstanding balance. The company is also promising to make pro-rata refunds to customers who paid for their smart rings, which come with a 36-month expiry date. "We will be offering customers a pro-rata refund for the months remaining on their ring as of the 1st November 2024," the firm pledges. "This will be based on the original price paid for your ring, divided by 36 months, times by any full months remaining of your ring expiry." Source: https://lnkd.in/gcxnkwKh Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #paymentindustry #fintech #financialtechnology #financialservices

Payment Orchestration Vendor Evaluation by Datos Insights Who's missing from this vendor's list? Credits go to the authors: Thad Peterson & Ron van Wezel 👌 #payments #paytech #paymentorchestration #digitalpayments #paymentservices #paymentproviders

Flutterwave expands African footprint with Ugandan payments licence. This marks a key milestone in Flutterwave's expansion across Africa, adding Uganda to its growing list of countries where it operates. Uganda’s digital payment landscape is transforming, driven by a youthful and vibrant population over 78% of its citizens are under the age of 35. This demographic presents an unprecedented opportunity to advance economic growth through enhanced financial inclusion and digital innovation. Founded in 2016, Flutterwave has emerged as a cornerstone of Africa's digital economy, with a mission to simplify payments for endless possibilities. Leveraging its advanced technology and deep understanding of African markets, Flutterwave offers a comprehensive suite of payment solutions tailored to the country's unique needs. From mobile money integration crucial for Uganda’s predominantly mobile-first population to seamless cross-border payment capabilities, Flutterwave is uniquely positioned to bridge the gap between Uganda and the global economy. Source: https://lnkd.in/exmxVrti Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #paymentindustry #fintech #financialtechnology #financialservices

Cashless Economy - How FinTech is reshaping Nigeria's 🇳🇬 Payments system. Source: AGPAYTECH LTD. #fintechreport #fintech #payments #paytech #digitalpayments #nigeria

🚨 PayQuicker, a leader in global payouts orchestration, announced a collab with Thunes, a global money movement innovator, to expand its e-Wallet payout capabilities worldwide. The collaboration aims to address the increasing demand for more diverse, and flexible payout methods, especially in emerging markets where e-Wallets serve as essential financial tools. PayQuicker specializes in providing businesses and individuals with instant and secure global payouts in local currencies for various sectors including accounts payable, affiliate networks, creator economy, direct selling, on-demand economy, and platforms and marketplaces. By integrating broader e-Wallet capabilities in its global payouts solutions suite, PayQuicker enhances its ability to deliver on its core promise of providing smarter, faster, and easier global payouts. "Digital wallets are transforming the way people manage their finances, especially in regions where traditional banking infrastructure is lacking," said Paul Beldham, CEO of PayQuicker. "By teaming up with Thunes, we're further enabling millions of people around the world to receive their funds faster and more securely, providing the flexibility of a bank alternative. This not only empowers individuals to better manage their day-to-day finances but also supports the economic growth of emerging markets by facilitating more reliable transactions." Read more: https://lnkd.in/d-2YrZHu

In FinTech, a paradigm shift is emerging that transforms the traditional Buy Now Pay Later (BNPL) model into a more sustainable and financially empowering approach known as Save Now Buy Later (SNBL). Read all about it in this #fintechreport by AGPAYTECH LTD. 👇

Nuvei Corporation, a Canadian FinTech company, has announced its partnership with Scanco Software, LLC (Scanco), a provider of software solutions for the manufacturing and distribution industries. The partnership will enhance Scanco’s new Invoice2Payment (i2PAY) solution. i2PAY complements Scanco’s existing warehouse management capabilities with payment features, including online payment processing, email receipts, automated deposits, and advanced analytics. Collaborating with Nuvei enables Scanco customers to access a suite of payment solutions, including Card-Not-Present and ACH processing capabilities, integrated directly into Scanco customers’ enterprise resource planning (ERP) systems, including Sage, to facilitate simplified workflows, increase back-office efficiencies, and shorten invoice-to-cash cycles. Nuvei’s ERP payments engine delivers seamlessly integrated payment acceptance and disbursement solutions to its customers, as well as single-view visibility of data and insights needed to make faster, better-informed decisions. By leveraging Nuvei’s deep ERP payments expertise and delivering near-real-time payment information, Scanco customers will be able to reconcile financial information across systems and improve visibility more efficiently. Source: https://lnkd.in/eDVuqqrD Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #paymentindustry #fintech #partner #partnership #financialtechnology #financialservices

Arab Financial Services introduces Samsung Pay to Oman. As the region's leading digital payment solutions provider and FinTech enabler, AFS is once again demonstrating its commitment to driving innovation and enhancing customer experiences. This partnership between Arab Financial Services (AFS) and Samsung Gulf Electronics to introduce Samsung Pay in Oman combines AFS's regional expertise in digital payment solutions with Samsung's innovative technology to provide Omani consumers with a secure and convenient contactless payment option. The collaboration strengthens AFS's position in the Omani market and expands Samsung Pay's reach while benefitting Omani consumers with enhanced convenience and security in their daily transactions. This development aligns with the Central Bank of Oman's recent guidelines for banks and payment providers to offer card tokenization services. Moreover, the partnership represents a significant step in Oman's digital transformation journey, enhancing the country's financial ecosystem and promoting the adoption of advanced digital payment methods. Source: https://lnkd.in/eBUzyFHs Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #paymentindustry #fintech #partner #partnership #financialtechnology #financialservices