India-based Paytm’s share of the country’s Unified Payments Interface (UPI) continues to slip. The FinTech made up 8.1% of total UPI transactions last month, down from 13% in January, the National Payments Corporation of India said in data released Thursday (June 6). Paytm accounted for...
Visa is expanding its partnership with Southeast Asia Commercial Joint Stock Bank (SeABank). The latest effort between the two companies is designed to help develop digital payments in Vietnam, SeABank said in a news release Wednesday (May 29). According to a news release, the effort...
The CEO of Swedish FinTech Trustly says going public is not yet on the company’s radar. Speaking to CNBC Thursday (May 30), Johan Tjarnberg said that although his company just recorded a 51% increase in operating profit, it still has to sell its business model to investors before it can consider...
There’s no shortage of evidence showing that digital payment methods are nearing a tipping point. As PYMNTS Intelligence and the Federal Reserve have reported, consumers and businesses are accelerating their use of digital wallets and instant payments. The Fed’s Consumer Research Brief found that 57% of consumers expect to...
Stripe is reportedly opening a new London location as part of a larger U.K. expansion. This new office will house 250 workers from the payments company’s engineering, sales, partnerships, financial compliance and operations departments, with plans to hire 30 more workers, Stripe President and Co-founder John Collison told Bloomberg...
Visa has launched a collaboration with digital payments company SKUx. “The agreement will accelerate digital transformation for select merchants and consumer packaged goods companies that leverage SKUx’s payment-based offer solutions — supporting a variety of client use cases; from customer acquisition, to loyalty, to consumer care and recovery, while...
FinTechs must make money mobility a top priority if they want to woo consumers away from traditional banks. While PYMNTS Intelligence’s data confirms FinTechs have made progress in meeting consumer expectations around instant payments, there is still room for improvement. In “FinTechs’ Instant Payment Mismatch,”...
The construction industry is a critical one, but it has a giant problem: late payments. In a sector where cash flow couldn’t be more important to firms’ survival, slow and delayed payments in the construction space cost businesses $273 billion in 2023 — representing nearly 14% of total construction costs, up from...
Banks in Argentina are reportedly accusing eCommerce giant MercadoLibre’s payments platform of anti-competitive practices. MODO, a digital wallet backed by dozens of Argentine lenders, claims that the company forces shoppers to fulfill online purchases using its payment platform, Mercado Pago, Bloomberg News reported Monday (May 6), citing a complaint filed...
