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Weekly Analysis and Opinion Highlights - 11 October 2021
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Weekly Analysis And Opinion Highlights – 31 October 2022

And we’re kicking off the week with new analysis and opinions on investing, ESG framework, open banking, metaverse and more. Dive into the latest fintech insights and have a great start of the week!

Netherlands the Most Interested Country in Cryptocurrency Finds CryptoManiaks (The Fintech Times)
Netherlands ranks as the number one country making cryptocurrency-related searches online, according to CryptoManiaks. The cryptocurrency education platform ranked the top 100 most populated countries in order of amount of crypto searches made. The platform looked at the combined number of searches for ten of the most popular cryptocurrencies for each country. It then calculated each total as a percentage of the country’s population size. CryptoManiaks used this proportion of residents searching each month to rank the countries. The Netherlands took the top spot, with 1.4 million monthly searches for the most popular cryptocurrencies. This was equivalent to 8.2 per cent of its population. Turkey and Germany took the second and third places, with 4,663,600 (5.5 per cent of the population) and 4,236,800 (5.1 per cent) searches respectively. Read more

All you need to know about crypto payments in 2022-2023 (The Paypers)
To reach the undreamed possibilities of Bitcoin, crypto, and blockchains in general, we wanted to understand the space better and find out what drives the huge amount of ongoing payments technology innovation happening away from areas where crypto is seen as primarily a speculative digital asset. Moreover, to grasp the opportunities and hurdles that lie ahead for crypto adoption as a payment method, we conducted our first-ever ‘crypto for payments’ survey from June to September 2022. Also, based on extended research we tried to map out the crypto companies that build the new ‘crypto infrastructure and products’ to help you, the reader, understand the main players in this space. And we included all in The Paypers’ upcoming crypto payments report, to be out in November. This article aims to grasp ‘the why’ behind the work done around our crypto report. Read more

Keep your PSPs close & your fraud prevention partners closer (Fintech Magazine)
The global payments ecosystem continues to witness exponential growth in digital commerce. In 2021, Forter saw a 51% increase in total payment volume (TPV) year-on-year from 2020. In 2022, this is forecast to increase by 65% compared to 2021. At the same time, this increase in transactions brings another problem: digital commerce fraud. Merchants need to have a detailed understanding of their payment profile to manage threats and balance risk. According to the Merchant Risk Council, the amount merchants spend to tackle online fraud increased five-fold between 2019 and 2021. In 2019, ecommerce merchants spent an average of 2% of their annual revenue on fraud prevention. By 2021, that share had grown to 10%. However, it’s a battle merchants are continuing to lose. Additional data collected from the European Central Bank stated the total value of fraudulent card transactions amounted to €1.03bn in the eurozone. Read more

India’s digital explosion and the opportunities it presents to ambitious online businesses (The Paypers)
Since well before the turn of the century, India has been undergoing immense changes in almost every aspect of life. GDP per capita has soared, literacy rates are up, life expectancy is higher than ever, and the country’s digital economy is booming, with 75% of the population being under the age of 45. According to S&P Global Market Intelligence research, India also attracted fintech funding of USD 5.94 billion raised across 236 deals in 2021, up from USD 1.5 billion across 118 deals in 2020. It is also predicted that consumer spending will double within the next three years, and ecommerce penetration will increase by a factor of five. This is expected to create an ideal environment for exponential growth, while placing the country as the world’s third largest fintech economy, behind the US and the UK. However, in order to capitalise on such enviable growth opportunities, online businesses need a deep understanding of this diverse, dynamic economy, with its interwoven ancient yet cutting-edge cultures, and of course, the latest regulatory and payments infrastructure. Read more

It Is High Time International Payments Embrace Cloud (CDO Trends)
If there was a basic business function that needed rescuing by technology, it is the area of global cross-border payments. To illustrate why it might be best to start with a personal example. Some months ago, I did some work for a client based in Thailand, and we agreed that the payment would be in U.S. dollars. The client, believing that the payment had failed, sent me a second transfer which arrived the next day. The problem occurred when the client wasn’t refunded the original payment. On the client’s behalf, I spent around 40 minutes on the phone, much of it on hold, only to be told that my bank couldn’t trace the payment and that perhaps I should try a physical visit to a branch. I did this to no avail. Read more

Dogechain Token Price Triples in 7 Days (Coindesk)
The token for Dogechain, a Polygon Edge-based smart contract system for popular meme token dogecoin, has more than tripled in price in the last seven days, according to data from CoinGecko. The token, DC, began to increase in value on Friday, when it was trading at $0.0004 to then climb as high as $0.0018 on Sunday. The token hadn’t reached those levels since hitting its all-time high at the end of August. The DC token has swung wildly before. It fell 90% from August to September, declining from about $0.004 to $0.0004. Dogechain, which was launched in mid-August, now has a market capitalization of $46 million. Data from on-chain trackers shows that $5.8 million is locked on Dogechain-based products. Read more

 

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