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October's FinTech Spotlight: 5 Payment Innovations You Can't Miss - IBS Intelligence: As digital payments landscape continues to evolve, this year has brought forth an exciting array of innovative launches in the FinTech world.

Asia-Pacific's #cashless payments are set to hit $26.7T by 2030, driven by fintech adapting to local preferences like e-#wallets, #QR codes, and mobile #payments. With expected growth at 12% CAGR, the region presents rich potential for innovative payment solutions. #CashlessFuture #AsiaPacific #Fintech #DigitalPayments #PaymentInnovation

The Payments Revolution: How PayTechs are Reshaping the Future Payments, central to commerce and the digital economy, have a staggering market size of approximately US$240 trillion. Understanding PayTechs PayTechs, a subset of FinTechs, concentrate on the payments value chain. This includes payment facilitators (PayFacs), payment service providers (PSPs), networks for new payment propositions, and technology suppliers in payments. The Lasting Influence of PayTechs These technologies have fostered a dynamic, customer-focused payments landscape. The Significance of PayTechs PayTech by the Numbers: - More than 25% of FinTechs fall under PayTechs. - There are over 2,400 PayTechs worldwide. - The sector is valued at more than US$2.17 trillion. The Evolution of PayTechs: A Major Paradigm Shift in Payments The industry is transitioning from traditional transaction methods to a customer-centric ecosystem, offering seamless, integrated solutions. 7 Key Trends Driving the Future of Payments: 1. Open Banking: Empowers consumers to manage their financial data. 2. Real-time Payments: Enables instant settlements for a fluid experience. 3. Buy Now, Pay Later: Provides flexible payment options to enhance sales. 4. Digital Wallets & Super Apps: Streamlines payments with added functionalities. 5. Embedded Payments: Integrates payment processes into daily experiences. 6. Digital Currencies: Explores innovative payment methods and infrastructures. 7. Cross-border Payments: Aims to make international transactions quicker and more cost-effective. PayTechs are transcending technology, focusing on holistic customer experiences and additional services. The Future Implications: - Collaboration: Banks and PayTechs will join forces, combining their strengths for mutual benefits. - Innovation: The emergence of new technologies and business models will continue at an accelerated pace. - Customer Focus: The emphasis will remain on user experience, with a commitment to providing convenient, secure, and personalized solutions. #paytech #payments #fintech #pnbl #ewallet #future #finance

Redefining Payment Solutions: DC Payments’ Continuous Innovation in Fintech. From our humble beginnings to becoming a leader in digital payment solutions, our story is one of relentless innovation and entrepreneurial spirit. Read the full article to learn more about our journey and future plans: Fintech.ca

Discover how fintech companies are adapting to consumer needs! According to a recent survey, only 47% of them allow sending P2P payments, showing the importance of service alignment in the industry. Stay updated on the latest trends in fintech services here: https://okt.to/qViUhn

Digital remittances are increasing from $60.57bn globally in 2017 to a projected $319.10bn by 2029, according to Statista which illustrates the scale of the growth involved in the sectors where fintech companies have embraced the challenges of the traditional banking system. Traditional money transfer services have often relied on the “wire transfer” method and have been problematic for several reasons. They tend to rely on having shops in different locations around the globe, so the recipient has to travel to their local store location to receive the payment.  In our latest Thought Leadership article, we take a look at how fintech is disrupting traditional money transfer services https://lnkd.in/etmt72D7 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Canadian fintech Wealthsimple, known for its robo-advisor and stock trading app, is set to issue its own Visa credit card. Currently, the company offers a prepaid Mastercard issued by KOHO, which allows users to earn cash back on purchases that can be reinvested automatically. However, Wealthsimple’s Vice President of Payments Strategy, Hanna Zaidi ( on the right of the picture below), explained that relying on a banking partner has limitations. “In a traditional partnership with a bank issuer, the customer relationship is owned by the issuer, and we felt we needed to own the whole relationship to control the customer experience,” Zaidi stated at the Forum Fintech in Montreal, on September 10th. This shift towards direct control aligns with a trend among large fintech companies. While traditional credit card networks largely rely on banks for issuing cards, fintechs like Revolut and Wealthsimple are increasingly taking matters into their own hands. As these companies grow, they aim to own the entire customer experience. “We want to be the primary financial relationship of our customers,” Zaidi added. “We were creating an experience on top of duct tape, integrating various services we did not control end to end. That’s why we worked to have direct access to [Canada’s upcoming] payment rails and are now in the process of issuing our own Visa.” To read this week’s issue of Global Fintech Insider, click the link in the comments.

Redefining Payment Solutions: DC Payments' Continuous Innovation in Fintech: Redefining Payment Solutions: DC Payments' Continuous Innovation in Fintech ... Calgary-based Digital Commerce Payments (or DCPayments) is at the ...

This statement was thrown around a great deal in the financial industry "Every company will be a fintech company." But as time goes on, the truer statement will be that "Every company will build their own fintech." Payments are vital to conducting any business. Fintechs and banks have successfully supported the needs of unregulated companies using embedded, agency, or other models, so why would companies look to build their own custom payment solutions? To most companies, the most critical component of their business is the customer experience; anything that affects their ability to have complete control and autonomy over this is generally non-negotiable. Customer experiences in relation to payments evolved from simple checkouts to requiring alternative payment methods, virtual wallets, and broader embedded financial services. As a result, the landscape for differentiation and optimization of customer experience expanded hugely. To establish differentiated experiences, businesses will look to achieve complete end-to-end (& top-to-bottom) ownership. #Finance #Fintech

🌐 E-wallets in Singapore have revolutionized payments, driving the nation toward a cashless society. 🚀 From GrabPay to PayNow, explore the role of fintech in shaping digital transactions. Read more about how e-wallets are becoming a daily essential in Singapore’s evolving payment ecosystem. 📲 #Fintech #DigitalPayments #EWallettsSingapore #CashlessEconomy https://lnkd.in/e-PhkF76