PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.
Big Brands Compete
Adyen joins Stripe, Square and PayPal. Just not in the way you think. Adyen stock has almost tripled since their initial public offering and as a result, this Amsterdam-based startup has joined U.S. rivals Stripe, Square and PayPal as the fintech companies that control more than three quarters of the marketplace for merchant-to-consumer commerce. From SFGate.
JPMorgan fuels competition with fintech companies. In an effort to compete with Stripe, PayPal and the like, JPMorgan has merged its business-to-business treasury services with its customer-to-business merchant services. What makes this competitive enough to be threatening? Ultimately, “the global brand would be the only company to offer businesses a single payments system that groups can use to accept incoming payments from consumers and to make corporate payments to suppliers or transfer money between accounts.” From Financial Times.
Klarna prepares for U.S. fintech competition. With a new campaign featuring Snoop Dogg as the face of Smoooth Dogg (the campaign name), Klarna looks to break into the U.S. payments ecosystem. Already popular in Europe for its deferred payments and lending options, Klarna has yet to make it big in the U.S. payments culture. Its closest U.S. competitor is Affirm. The big difference though is Affirm charges interest payments to its consumers while Klarna keeps the cost within its merchants. From Cheddar.
India ecommerce market projected to cross $100 billion threshold. In an ecosystem that shows no signs of slowing down, recent reports are projecting the booming fintech marketplace to reach and even surpass the $100 billion threshold by 2022. Other predictions include a $200 billion e-tail market by 2026 and an internet user base that could likely increase to 829 million by 2021. From DNA India.
Top 15 Nigerian fintech firms to watch for. As the fintech industry continues to boom, 2019 promises to be a year for even more impressive growth and development opportunities. Here are 15 companies – including some PFs – charging the pulse of Nigeria’s payments ecosystem that are expected to do big things this year. From Ventures Africa.
The Quick-response Edit
NBC and BOT sign MoU on QR. Coming together on the basis of QR technology, the National Bank of Cambodia and the Bank of Thailand have signed a memorandum of understanding regarding QR-based payments among their two countries. As part of the agreement, an interoperability standard will be developed for secure and efficient domestic and cross-border transaction – as well as local currency and financial innovation support between both countries. From Saigon Online.