30 seconds industry news
Visa Unveils Tap To Phone Technology
Visa and Samsung teamed up on a handset that enables merchants to accept NFC payments without the need for any additional hardware. A broad range of merchants will have access to yet another way to accept payments from customers, which will help millions of small and micro-sellers around the world grow their businesses.
Worldline Purchases Ingenico
Two European payments giants - Worldline and Ingenico - are merging in an $8.6 billion deal. The company that will combine Worldline, a financial services company, and Ingenico, a point-of-sale terminal provider, will have 20,000 employees across 50 countries with 1 million merchant and 1,200 financial institution customers.
It is the biggest deal so far in 2020, and the combined firm creates the fourth-largest payments firm in the world, as well as a European leader in the sector.
The global payments industry is set to reach $3 trillion a year in revenue by 2023, as more people switch from cash to digital payments for online and store purchases, according to research by consulting firm McKinsey.
JPMorgan To Launch a Digital Bank In UK
According to a report by Accenture, digital banks now boast 19.6 million customers in the UK, with over six million customers added to their books in the second half of 2019 alone.
After a short-lived attempt at offering digital-only banking with a mobile brand Finn, U.S. banking giant JPMorgan clearly sees the UK as a more conducive market to digital banking, announcing its plans to launch a UK digital bank later this year.
The operation will likely include savings and lending products, and it comes just two years after U.S. bank Goldman Sachs launched a digital bank called Marcus, also in the UK.
Splitit To Integrate Its Service With Stripe Connect
a global payment technology solution that enables no-fee installments on credit
card purchases, has announced a partnership with Stripe, the digital financial
transaction infrastructure company, to integrate Splitit's service with Stripe
The integration is planned to roll out in the latter half of 2020 in the United States, the United Kingdom, Canada and Australia. The partnership with Stripe will help Splitit further accelerate its global reach and provide a better experience for merchants.
Splitit has recently signed partnership deals with Shopify, Magento and Divido, and the partnership with Stripe is the latest in a year of growth for the company.