FinTech Focus: Catch latest developments of the week

By Gloria Methri

Social media platforms can offer insights helping FinTech and digital payments companies analyse consumer behaviour and preferences, the most critical factors in present times, as well as trends in the industry.

With the ever-evolving digital landscape, it has become imperative for financial institutions to offer services that cater to the changing needs of consumers, and channels of interaction like social media can bridge that gap.

Similarly, numerous financial technology companies utilise social media platforms to make announcements pertaining to product offerings, mergers, partnerships, and other developments to garner wider attention and better reach their target audience.

Let’s look at the top six announcements made by the FinTech bigwigs this week:

• Affirm

We have expanded our partnership with Amazon so eligible sole proprietors shopping on Amazon Business can pay over time with Affirm to help increase their purchasing power, better manage their cash flow, and accelerate their growth.

• BNP Paribas

It’s coming, Tap to Pay on iPhone and the BNP Paribas App! Merchants in France will soon be able to accept contactless payment with just an iPhone. This new solution adds more features to offer our clients an innovative, secure, and seamless payment experience.

• Endava

We announce our new partnership with Salt Edge, which promises to align our efforts in helping more businesses and financial institutions benefit from the opportunities open banking brings.

• FOMO Pay

Mastercard Singapore and FOMO Pay introduce Mastercard QR within SGQR, allowing cardholders to scan and pay using their Mastercard cards. SGQR is the unified national QR for Singapore based on EMVCo Merchant-Presented QR standards. FOMO Pay will enable SGQR merchants to accept Mastercard QR payments, enabling the use of Mastercard credit and debit cards for scan-and-pay at SGQR codes.

• Klarna  

The UK’s FCA has authorised Klarna to provide regulated payments and credit services! While Klarna has always operated under the oversight of the FCA, this new authorisation was a necessary consequence of Brexit.

• Nexi

We are proud to have strengthened our partnership with Microsoft to digitize payments in Europe! The expanded partnership will see our digital payment solutions (both in-store and online) within Microsoft solutions, specifically in the Commercial Marketplace, Microsoft’s catalog of solutions and products for developers, and Independent Software Vendors (ISV) platforms, available in over 100 countries and regions.

ALSO READ: Sales League Table Report 2023