James Scott’s Post

REPORT | Modernised payments – unveiling trends & insights https://lnkd.in/dVg5EVYz 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

Recent research into the SA 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. Modernised Payments in South Africa, published by Electrum, provides invaluable insights into the dynamic payment landscape of South Africa. #Payments #DigitalPayments #PaymentsTrends https://lnkd.in/di65r9yh

I believe it's commendable that businesses are leveraging digital platforms through third-party payment providers to extend lay-by and credit facilities to demographics previously considered economically marginalized. This strategic move not only democratizes access to goods and services but also addresses the longstanding challenge of financial exclusion. By embracing digital solutions and partnering with third-party vendors, companies are not only expanding their customer base but also fostering financial inclusion, thereby contributing to broader socioeconomic empowerment. Such initiatives resonate positively with both consumers and stakeholders, enhancing brand reputation and fostering sustainable growth in an increasingly competitive market landscape. TLM

Cross-border #payments in Asia-Pacific are being streamlined by fintech innovation and public sector partnerships. Key drivers include real-time payment platforms, digital wallet adoption, and initiatives like #ASEAN's #QR-code connectivity. These efforts aim to reduce friction, but regulatory harmonization remains a challenge. Project Nexus is poised to improve regional payments by 2026. #CrossBorderPayments #FintechInnovation #DigitalEconomy #RealTimePayments #DigitalWallets #APACPayments #FintechAsia #PaymentInnovation #SeamlessTransactions

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

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

Global Data Reporting Pioneer Kani Payments Partners with Pismo Aaron Holmes, Founder and CEO of Kani Payments, comments: “Kani Payments is unique because it is a truly scalable SaaS fintech company. It also makes us a perfect match for Pismo, which shares our geographical expansion capabilities. Pismo’s cloud-based platform empowers teams to build fast and companies to launch rapidly, and as such, it shares many of our values and a core aim of helping businesses drive efficiency. As a global business, Pismo is the perfect partner to help us realise the next phase of our growth strategy, and we’re looking forward to making our solution available to a much wider market.” https://lnkd.in/erhFBVju Vishal Dalal Débora Fortes Steven Licciardi Melissa Beckett Marc McCarthy Daniel Clappison Alina Ciocan Ricardo Josua Emily Underhill Marcelo Parise Faisal Khan Daniela Binatti Juliana Binatti Motta #FFNews #Fintech #Finance #Banking #Paytech #Payments #Insurtech #Insurance

Middle East consumers and businesses have never had a more comprehensive range of payment options. The push by regional governments to transform into cashless economies has propelled the region’s digital payments ecosystem forward, stirring up wave after wave of payment innovations. Banks, businesses and merchants must keep track of all these advancements. After all, customers are now spoilt for choice and with the competition just a click away, their loyalties are held only to those providers who uncompromisingly deliver on their expectations. Piece by Andy Davies, Senior Global Payments Specialist at Endava Follow the link for more details: https://lnkd.in/dz7vWKCJ #payment #middleeast #opinion #financemiddleeast

As the global payments ecosystem continues to evolve, 2024 presents a landscape marked by simpler user interfaces, but with growing complexity behind the scenes. According to McKinsey & Company’s recent report, global payment revenues are expected to increase from $2.4 trillion in 2023 to $3.1 trillion by 2028. Six major trends will shape this growth, including the continued decline of cash, the rise of instant payments, and the growing influence of digital public infrastructures https://lnkd.in/djvxAPeF