Mobile Payments

The embedded finance market is currently going from strength to strength. Thanks to companies like PayPal and Klarna, many non-financial institutions are integrating financial services into their platforms. As the sector continues to expand, how can traditional banks compete?

Global retail giant Amazon has partnered with buy now, pay later (BNPL) company Affirm to provide its US customers with a BNPL option at the checkout.

Payment giant Square is expected to launch Invoices Plus, a paid subscription service that will include extra features such as those previously available with the free service.

A report by VoucherCodes has found 47% of all transactions are expected to be contactless by the end of 2022.

Global consumer internet group Prosus has entered into a new deal with payments FinTech PayU to acquire online payment gateway provider BillDesk for $4.7bn.

People in the UK will be able to make contactless payments up to a new limit of £100 from the 15th of October 2021.

A OneSpan blogpost has underlined how financial institutions (FIs) can compete in the mobile banking sector following the shifts brought about by the Covid-19 pandemic.

Financial comparison site money.co.uk slammed buy now, pay later firm Klarna founder for claims that it offers a fairer and more equitable platform for consumer spending than credit cards.

African payments firm PawaPay has raised $9m from a seed funding round led by MSA and UK investment fund 88mph.

A report by Allied Market Research has projected that the buy now, pay later (BNPL) will generate $3.98trn by 2030 and record a CAGR of 45.7% from 2021 to 2030.