Weekly Research Highlights – 19 September 2023

The fintech industry is rapidly evolving and disrupting traditional financial systems. In this article, we bring you the latest research insights to help you stay ahead of the curve and understand the future of financial technology. Enjoy researching!

Debit and Credit Cards Remain King as UK Finance Reveals UK Payment Preferences (The Fintech Times

Cash and card (debit and credit) have been a constant staple of the payments market. However, the emergence of technology has seen other payment forms enter the limelight. Mobile banking, buy now pay later (BNPL) and mobile wallets are just some examples highlighted by UK Finance, the banking and financial industry voice, in its latest ‘Payment Markets Report’ as it looks to 2032. The report breaks down how impactful business and consumer payments were respectively in the growth of the total number of payments made in 2022. Read more

FinTech lending in India: Nine companies corner 81% market share as loans near Rs 30K crore in Q1 of FY24

Companies disbursed a total of 22.2 million loans, marking a significant increase of 30.6 percent year-on-year. In terms of the monetary value, FinTech companies disbursed loans worth Rs 29,875 crore in Q1 FY24, representing a substantial YoY increase of 31.7 percent when compared to Rs 22,682 crore in Q1 FY23. Read more

Commercial payments offer huge potential…and CAGR of 11.3% (Payments, Cards & Mobile)

The World Payment Report 2023 Executive Survey results indicate that retail payments comprise 59% of total transaction volume while commercial payments comprise 41%. However, in terms of value, commercial payments make up nearly 56%, while retail accounts for only 44% of total payments value. Shares of value and volume change from region to region. In the Americas, commercial and retail payments account for 54% and 46% of total value, respectively. Read more

World Payments Report: Non-cash transactions continue to rise (Payments, Cards & Mobile

Non-cash transaction volumes maintained upward momentum as consumers and businesses adopted digital payment schemes. The World Payment Report 2023 estimates suggest that from 2022 to 2027, non-cash transaction volume growth will continue accelerating at a 15% CAGR due to expanding digital payments infrastructure and a proliferation of new payment instruments. Non-cash volumes compound annual growth of 10.7% is expected from 2022 to 2027 thanks to expansion of instant payments, Open Banking regulatory (PSD3) enhancements, and an EU Digital Identity Wallet 2023 pilot initiative. Read more

Report reveals disproportionate financial health decline over location and ethnicity (Fintech Nexus

Economic challenges have affected individuals nationwide this year. Economic growth has stayed consistently low, and inflation, although declining, has dropped due to drastic rate hikes, pushing the cost of living to new levels. All consumers have felt the pinch. However, according to a new report released today by the Financial Health Network, the impact has varied. Factors such as age, race, and location have influenced how consumers can navigate the difficult climate, making suitable financial solutions critical. Read more

Payments funding falls more than any other fintech sector (CB Insights)

Funding to payments companies fell 75% QoQ in Q2’23 to $2B, marking a 6-year funding low for the sector and the biggest QoQ decrease across all fintech sectors. Deal count also declined, dropping by 14% QoQ to 148. Every other fintech sector — including banking, insurtech, wealth tech, and capital markets — saw funding declines. Digital lending experienced the biggest drop after payments, down 44% to $1B. Read more

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