BusinessBrief & bbrief’s Post

REPORT | Modernised payments – unveiling trends & insights https://lnkd.in/dBunPMym Dave Glass | CEO | Co-Founder | Electrum |  Recent research into the South African payments industry has revealed that there is a clear trajectory towards the adoption of electronic payments. This transition not only reflects evolving consumer preferences but also presents promising opportunities for all stakeholders within the ecosystem. Banks, merchants, financial institutions, fintech companies, and regulatory bodies stand to benefit from embracing innovative payment methods. Moreover, the widespread adoption of electronic payments holds the potential to significantly enhance financial inclusion across South Africa, providing broader access to financial services... #payments #banking #digital #cash #finance Dave Glass Electrum

The Middle East is on the cusp of a digital payments revolution

Register today http://bit.ly/3CHhfSU for our monthly Regulator Working Group on the #DigitalEuro with Reinis Vecbaštiks, Chief Payments and Financial Markets at Latvijas Banka (The Central Bank of Latvia). http://bit.ly/3CHhfSU Speaking of Latvia... “Latvia is steadily emerging as a global fintech hub, propelled by continuous improvements of the regulatory framework and introduction of new supporting tools for fintech ventures." This is the key takeaway from Andris Liepins and Valters Sniedzītis, CAMS, respectively Partner and Senior Manager at Deloitte, regarding the Latvian payments ecosystem, as featured in our whitepaper, “Key Players in the EU Payments Landscape 2024 ": https://lnkd.in/dVYy5rTP 💳 Nestled in the heart of the Baltic region, Latvia is emerging as a European fintech leader, transitioning from a cash-dominated market to a cashless society, with 77% of transactions being non-cash in 2023. The shift is supported by widespread adoption of contactless cards and government initiatives like low-cost bank accounts, financial literacy programs, and expanded payment infrastructure. 📲 Cards, and more particularly debit cards are the most used payment method in Latvia. However, alternative payments like digital wallets and bank transfers are gaining in popularity. Key players include Paysera, Monese & Mobilly. 🏦 Latvia's banking market is dominated by Scandinavian-owned Swedbank and SEB Latvija, which hold nearly 60% market share. Local player Citadele banka ranks third (23%), offering traditional banking, wealth management, and as the sole issuer of American Express cards. Other notable banks include Luminor Lietuva, AS Rietumu Banka, and BluOr Bank (formerly BlueOrange Bank). International neobanks like Revolut, ZEN.COM, and European Merchant Bank | EMBank are also on the rise. 📶 On the processing front, Worldline leads as the top payment processor in the Baltics, holding the largest market share in the region. Paynt offers advanced omni-channel payment solutions, including an acquiring-as-a-service platform for businesses. Transact Pro also operates as a payment processor and online card payment gateway provider. Download the full report here: https://bit.ly/4fsDsCo

Revolutionising global payments with cross-border transactions 🌎 Cross-border payments are the backbone of our increasingly interconnected world. As global trade and migration continue to grow, the demand for seamless, efficient, and cost-effective international payments solutions has never been greater. In his new article in Silicon Canals our CTO and Co-Founder Zaki Farooq highlighted the transformative role of digital solutions in reshaping global payments, such as how: 💡 Blockchain-based technologies are paving the way for faster, more secure transactions 💡 Digital wallets are streamlining the process, making it easier for consumers and businesses to transact across borders 💡 Open Banking frameworks are fostering competition and driving innovation, resulting in reduced costs and improved services These advancements also have a profound impact on individuals. For migrant workers sending remittances home or small businesses accessing new markets, digital cross-border payments are essential. They drive inclusion, support economic growth, and improve living standards in underserved communities. As Zaki puts it: “If we can get to a stage where cross-border payments match domestic payments for speed, transparency, and convenience, the digitalisation of cross-border payments will truly revolutionise how money moves globally.” At PayFuture, we’re at the forefront of innovation in cross-border payments, helping to address long-standing challenges like high fees, slow processing times, and accessibility barriers. Read the full article here: https://lnkd.in/ek4tvbwB #PayFuture #CrossBorderPayments #DigitalInnovation #FinancialInclusion #FutureOfPayments

Register today http://bit.ly/3CHhfSU for our monthly Regulator Working Group on the #DigitalEuro with Reinis Vecbaštiks, Chief Payments and Financial Markets at Latvijas Banka (The Central Bank of Latvia). http://bit.ly/3CHhfSU Speaking of Latvia... “Latvia is steadily emerging as a global fintech hub, propelled by continuous improvements of the regulatory framework and introduction of new supporting tools for fintech ventures." This is the key takeaway from Andris Liepins and Valters Sniedzītis, CAMS, respectively Partner and Senior Manager at Deloitte, regarding the Latvian payments ecosystem, as featured in our whitepaper, “Key Players in the EU Payments Landscape 2024 ": https://lnkd.in/dVYy5rTP 💳 Nestled in the heart of the Baltic region, Latvia is emerging as a European fintech leader, transitioning from a cash-dominated market to a cashless society, with 77% of transactions being non-cash in 2023. The shift is supported by widespread adoption of contactless cards and government initiatives like low-cost bank accounts, financial literacy programs, and expanded payment infrastructure. 📲 Cards, and more particularly debit cards are the most used payment method in Latvia. However, alternative payments like digital wallets and bank transfers are gaining in popularity. Key players include Paysera, Monese & Mobilly. 🏦 Latvia's banking market is dominated by Scandinavian-owned Swedbank and SEB Latvija, which hold nearly 60% market share. Local player Citadele banka ranks third (23%), offering traditional banking, wealth management, and as the sole issuer of American Express cards. Other notable banks include Luminor Lietuva, AS Rietumu Banka, and BluOr Bank (formerly BlueOrange Bank). International neobanks like Revolut, ZEN.COM, and European Merchant Bank | EMBank are also on the rise. 📶 On the processing front, Worldline leads as the top payment processor in the Baltics, holding the largest market share in the region. Paynt offers advanced omni-channel payment solutions, including an acquiring-as-a-service platform for businesses. Transact Pro also operates as a payment processor and online card payment gateway provider. Download the full report here: https://bit.ly/4fsDsCo

Register today http://bit.ly/3CHhfSU for our monthly Regulator Working Group on the #DigitalEuro with Reinis Vecbaštiks, Chief Payments and Financial Markets at Latvijas Banka (The Central Bank of Latvia). http://bit.ly/3CHhfSU Speaking of Latvia... “Latvia is steadily emerging as a global fintech hub, propelled by continuous improvements of the regulatory framework and introduction of new supporting tools for fintech ventures." This is the key takeaway from Andris Liepins and Valters Sniedzītis, CAMS, respectively Partner and Senior Manager at Deloitte, regarding the Latvian payments ecosystem, as featured in our whitepaper, “Key Players in the EU Payments Landscape 2024 ": https://lnkd.in/dVYy5rTP 💳 Nestled in the heart of the Baltic region, Latvia is emerging as a European fintech leader, transitioning from a cash-dominated market to a cashless society, with 77% of transactions being non-cash in 2023. The shift is supported by widespread adoption of contactless cards and government initiatives like low-cost bank accounts, financial literacy programs, and expanded payment infrastructure. 📲 Cards, and more particularly debit cards are the most used payment method in Latvia. However, alternative payments like digital wallets and bank transfers are gaining in popularity. Key players include Paysera, Monese & Mobilly. 🏦 Latvia's banking market is dominated by Scandinavian-owned Swedbank and SEB Latvija, which hold nearly 60% market share. Local player Citadele banka ranks third (23%), offering traditional banking, wealth management, and as the sole issuer of American Express cards. Other notable banks include Luminor Lietuva, AS Rietumu Banka, and BluOr Bank (formerly BlueOrange Bank). International neobanks like Revolut, ZEN.COM, and European Merchant Bank | EMBank are also on the rise. 📶 On the processing front, Worldline leads as the top payment processor in the Baltics, holding the largest market share in the region. Paynt offers advanced omni-channel payment solutions, including an acquiring-as-a-service platform for businesses. Transact Pro also operates as a payment processor and online card payment gateway provider. Download the full report here: https://bit.ly/4fsDsCo

In 2025, digitization will remain the driving force behind payment innovations. Mobile wallets are becoming a priority as consumers look for an easier way to manage their virtual cards and financial services. #wearebpc #payments #digitalization

Over the past year, the accelerating pace of #payments digitisation has become evident in every corner of the globe. While each region is at a different stage of maturity in its transition from cash, non-cash transactions are expected to grow 15% year-on-year and reach $2.3 trillion by 2027. As #digitalplatforms for #payments and #financialservices became commonplace in some developed markets, banks, fintechs and other businesses pioneered other initiatives to attract and retain customers – writes Jeff Parker, CEO of Paymentology. During 2024, reward programmes saw a sharp rise in adoption, as providers prioritised more tailored solutions for their customers, building loyalty with customers through incentives, competitions and rewards... Read more to find out how in 2025, digitisation will continue to be the underlying thread for all payments innovation https://lnkd.in/d-7FBaAi

Fintech Insights: Harnessing the Potential of Instant Payment Infrastructure 💳💸💲 We are pleased to announce the release of our latest white paper, " From vision to reality: planning your new instant payment infrastructure." 📝 The rapid adoption of instant payments is making open finance a reality. More than 60 countries have launched real-time payments infrastructures, with more on the horizon.🌐 This comprehensive guide delves into the essential considerations and best practices for implementing a robust instant payment infrastructure. Catering to financial institutions, business, fintech firms, and payment service providers, the white paper offers valuable insights to navigate the intricacies of instant payments and achieve seamless projects implementation. 🔍 It encompasses crucial strategies, real-world case studies, and expert analysis to empower organizations seeking to embrace the future of instant payments. We invite you to download the white paper and take the first step towards unlocking the full potential of instant payments in the evolving payments landscape. 💱💶💵 Get your hands on the white paper for free by visiting spr.ly/61105lTIe5. It's packed with valuable insights you won't want to miss 💡 #payments #openfinance #RTP #realtimepayments

Reflections on the Future of Payment Fintech in Europe In recent years, the landscape of payment fintech in Europe has shown signs of growth and innovation, but it is essential to recognize the structural challenges that limit its efficiency and competitiveness. Currently, many of these companies operate as the last link in a chain of suppliers, relying on third-party services that, while useful, introduce inefficiencies and delays. This dependence results in a reduction in the quality of services offered and a slowdown in the introduction of new features. The lack of domain and direct control over infrastructures leads to an absence of fundamental functionalities, such as fast cross-border payments and the use of stablecoins, which are increasingly in demand in the global market. For European fintechs, a winning future cannot be limited to being mere representatives with white-label front ends. It is crucial for these companies to acquire their own licenses, develop a solid core banking system, and manage issuing and acquiring infrastructures internally. Only then can they effectively address regulation, access to SEPA, clearing, and settlement, scale more rapidly, and offer cutting-edge products quickly. Moreover, an often-overlooked aspect is the lack of credit card offerings and credit products due to restrictions imposed by the regulation of electronic money institutions. Therefore, it is essential to promote greater collaboration with banks to integrate B2B and B2C products that can truly meet market needs. The B2B segment, in particular, is poorly managed in the European fintech landscape. Most payment apps focus exclusively on VAT-registered businesses, limiting growth and innovation opportunities. However, the sector is rich in potential, both for banking-as-a-service platforms, which should aim to obtain banking licenses, and for embedded finance, which offers the possibility of providing credit products to businesses (credit lines, working capital) and individuals (credit cards, consumer credit, and mortgages), as well as integrations and solutions that truly enable a transformation of that part of the banking system that has remained unchanged, slow, bureaucratic, and cumbersome. To realize these ambitions, the entire European fintech system must become bolder and more ambitious, aiming to scale and complete the transformation of the sector. Only then can we tackle current challenges and seize future opportunities. #Fintech #Payments #Innovation #B2B #Collaboration #Regulation #EmbeddedFinance