Walmart: Fiserv-ing Up a New Payment Experience
Walmart: Fiserv-ing Up a New Payment Experience
Future of Fintech - Edition #135 (17th-23rd Sept)
Last week’s key developments reveal a clear convergence of AI, embedded finance, and crypto with traditional banking infrastructure, reshaping the landscape. From flexible payment options baked into everyday devices to the rise of real-time transactions and tokenisation, the future of finance is rapidly shifting towards a more inclusive, tech-driven model. Are you ready to be amazed by the future of finance? 🔮
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What’s on the fintech menu today?
📖 Today’s Must Read: Affirm's Bold Embedded BNPL Strategy
🌟 Fintech Fiesta: The Week's Hot 10!
🌐 ‘Byte’ Buzz: Fintech highlights, sorted by segment!
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Fin-teresting Stories in Fintech 📰
Affirm's Bold Embedded BNPL Strategy
We’ve all heard the buzz around BNPL and embedded finance. But let's go deeper — ever heard of embedded BNPL? 👀
Affirm is stepping up the game by pushing the boundaries of embedded BNPL. It's not just about offering BNPL at checkout anymore—it's about integrating those payment options into the very platforms consumers and businesses are already using, turning financing into a seamless part of everyday transactions.
From partnering with digital wallets like Apple Pay and Google Pay to embedding BNPL in consumer browsers like Chrome and Safari, Affirm is making BNPL available at the exact moment customers make their buying decisions. And it doesn’t stop at B2C. Affirm’s embedded BNPL also extends into the SaaS platforms businesses rely on, like Shopify, Stripe, and Adobe Commerce. This multi-layered approach allows small businesses to offer flexible payment options to their customers, boosting sales and strengthening relationships.
Our latest Fintersections blog dives deep into how Affirm is revolutionising the BNPL landscape, offering seamless integration that extends far beyond the typical checkout experience.
Uncover how Affirm’s multi-pronged embedded BNPL strategy could reshape commerce for both consumers and businesses alike here:
Want to dive deeper into the world of Embedded Finance? Our latest report with Brankas explores the global trends shaping the BaaS landscape. Discover how BaaS is revolutionizing financial services and enabling innovative business models. Read more and download the full report:
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Serving the brimming cuppa of Edition #135, hot-off-the-press with the freshest of fintech happenings:
The Week's Hot 10!♨️🔟
Apple's New Pay Play -
⤷ JP Morgan Chase is reportedly in talks with Apple to replace Goldman Sachs as the tech giant's credit card partner, following Goldman Sachs' shift away from retail banking.
⤷ Affirm joined forces with Apple Pay, enabling US users to split eligible purchases into biweekly or monthly payments directly on iPhones and iPads through Affirm's flexible payment options.
A2A Payments Power Up Walmart Checkout -
⤷ Walmart teamed up with Fiserv to enhance its pay-by-bank service, enabling real-time transactions that provide immediate fund availability for customers, improving budgeting and reducing overdraft fees.
AI Alliances Powering Fintech Future -
⤷ NAB extended its partnership with AWS to enhance technology capabilities and customer experience by accelerating the migration of critical workloads and developing Generative AI solutions.
⤷ Metro Bank partnered with Infosys to enhance its digital transformation using AI, aiming to improve customer experience and operational efficiency with Infosys Topaz.
⤷ Propel to act as KOHO’s exclusive embedded lending partner, allowing qualified KOHO users to access a line of credit through Propel’s AI-powered lending platform within the KOHO app.
Brazil's Inclusive Banking -
⤷ Parabank teamed up with Dock to launch a card programme designed for people with disabilities in Brazil, offering tailored credit and prepaid debit cards. The initiative aims to improve financial access and includes partnerships with rehabilitation clinics and investment services, enhancing support for users' unique needs.
⤷ Banco de Brasília receives authorisation to act as a payment initiator in open finance, enabling users to conduct Pix transactions outside traditional banking environments, enhancing accessibility and integration in e-commerce.
Crypto Coins & Cross-Border Conquests -
⤷ Revolut is reportedly advancing plans to launch its own stablecoin as part of its strategy to expand crypto offerings, aiming to become a compliance-focused hub for the crypto community following its recent UK banking licence.
⤷ BBVA joins Project Agorá to explore the tokenisation of cross-border payments, aiming to enhance the efficiency of the monetary system and tackle existing structural inefficiencies.
Now, for the ‘byte’-sized fintech buzz –
Embedded Finance continues to elevate customer experiences, with a growing focus on seamless, integrated payment solutions across industries.
Adyen partnered with Cinemark to streamline payment options across its platforms, including websites, mobile apps, kiosks, and in-theatre purchases, enhancing the moviegoer experience.
Amazon teamed up with PayPal to enhance its Buy with Prime offering, allowing shoppers to link their PayPal and Amazon accounts for streamlined Prime benefits at checkout.
The adoption of Open Finance continues to drive innovation across sectors, with governments and retail giants tapping into its potential:
Trustly's Ecospend announced that it has retained its open banking contract with HM Revenue and Customs (HMRC). Ecospend will continue to provide its account-to-account payment services, which allow HMRC to process payments across over forty tax regimes, including Self-Assessment, PAYE, Corporation Tax and VAT.
Farfetch partnered with Volt to enable instant payments at checkout, allowing customers in the UK, Germany, and the Netherlands to make secure payments directly from their bank accounts, enhancing the shopping experience.
In the dynamic landscape of Digital Finance, Revolut stole the headlines - positioning itself for regional dominance while gearing up for future banking ambitions.
Revolut applied for an electronic money institution (EMI) licence with the Central Bank of the UAE, aiming to enhance its remittance services and expand in the Middle East. This move follows its previous establishment in Dubai and signals potential future banking ambitions in the region.
At the same time, Revolut also celebrated the milestone of 10 million customers in the UK, marking it as one of the largest payment businesses in the market. The company has seen significant growth in 2024 and is preparing to launch a full banking service in the UK soon.
Recent Fintech Infrastructure partnerships are driving innovation in payment solutions, aiming to streamline transactions, reduce costs, and improve cash flow management:
dLocal partnered with MoneyGram to enhance cross-border payment services in high-growth markets across APAC, EMEA, and LATAM, aiming to streamline transactions and reduce costs for consumers.
Checkout.com teamed up with Slope to enhance payment performance for US enterprise merchants, offering solutions like “Pay Later” and “Pay Now” to improve cash flow management and streamline operations.
The recent moves in the DeFi realm highlight the expanding role of stablecoins and tokenisation in reshaping global payment ecosystems.
Circle partnered with Sony Block Solutions Labs to introduce USDC on the Soneium Ethereum L2 blockchain, aiming to make the stablecoin a key element in Soneium’s economy and enhance its payment ecosystem.
WisdomTree launched the WisdomTree Connect platform for tokenising real-world assets, enabling businesses and institutions to access digital fund tokens via the Ethereum blockchain using US dollars or USDC.
The Green Finance sector is witnessing increased collaboration and innovation, with a growing focus on streamlining and supporting investments in carbon reduction initiatives.
Standard Chartered and SEB collaborated with Puro.Earth to offer carbon removal offtake agreements from certified early-stage projects, aiming to boost investment in carbon dioxide removal (CDR) initiatives.
Shopify launched Carbon Commerce, a new platform that simplifies the buying and selling of carbon credits. The platform streamlines transactions, supports various purchasing models, and integrates with existing CRM and ERP systems to help businesses scale their carbon credit operations efficiently.
And that's a wrap 👋
We hope you enjoyed this edition of the Weekly Fintech Brew!
As a reward for making it this far, enjoy a curated list of awesome fintech resources to keep your curiosity cup full to the brim. Cheers to continuous learning!
🔗 Link Up! –
2024 State of Embedded Finance Report - Alloy
Digital Banking for a New Generation of SMB Owners Report - Q2
Why Pay by Bank fits luxury retail like a glove Blog - Tink
Under the Hood🛠 : Open Banking AIS Revisited Blog - Fintech R&R by Jas Shah
GFF 2024: A Watershed Moment for India’s Fintech Industry Blog - WhiteSight
Apple’s Embedded Finance Playbook Report - WhiteSight
Hungry for more fintech insights? Check out some of our other work at WhiteSight.
If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of fintech with the world.
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