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!
Verizon 2023 Payment Security Report (Payments, Cards & Mobile)
Verizon Business has released the 2023 Payment Security Report. The 2023 PSR coincides with the approaching compliance deadline of the Payment Card Industry Data Security Standard (PCI DSS) version 4.0. This update to the current PCI DSS standard, is the largest change since 2004. These updates will affect all organisations that store, process or transmit cardholder data, from e-commerce to the public sector. Compliance with PCI DSS v4.0 is strongly encouraged by March 31, 2024 as v3.2.1 will expire. Read more
Digital wallets transaction value to surpass $16 trillion globally (Payments, Cards & Mobile)
A new study finds that the total value of digital wallets transactions will rise from $9 trillion in 2023 to $16 trillion in 2028, a growth of 77%. This trend is driven by growth across both developed and developing markets, as the increased adoption of advanced services such as BNPL (Buy Now, Pay Later) and microloans drives end-user engagement. The study found that in a highly congested wallets landscape, diversifying their appeal to users is vital. Read more
Apple Pay Later gaining market share quickly – Who should be concerned (Payments, Cards & Mobile)
The entire buy now pay later (BNPL) industry was put on notice when Apple announced the launch of Apple Pay Later in March. While it has only been a few short months since its release, a recent survey of 8,000 consumers shows how quickly Apple is making its presence in the market known. According to J.D. Power survey respondents, Apple Pay Later has been used by more consumers than established brands such as Sezzle and Zip since its launch. Read more
Half of UK consumers have ditched physical wallet for digital wallet (Payments, Cards & Mobile)
Half of UK shoppers say they no longer need a physical wallet or purse, swapping it for a digital wallet on their phone, according to research from SAP Emarsys. The study of 2,003 UK consumers suggests that the adoption of the digital wallet is a generational change in the UK, with 67% of shoppers who make purchases via their mobile wallet aged 18-24 comfortable without a physical wallet compared to just 37% of those over 45. Read more
Why every vertical software company should launch a capital offering (Fintech Nexus)
Building trust is hard but absolutely worth it. Across b2b and b2c, decisions are made by human beings who want to do business with people they trust and who they believe truly understand them. It’s just human nature. This is the reason community banks endure, even in the face of tough regulations and in competition with huge global banks. It’s why local small businesses can hold onto customers while competing with major chains. And it’s why software providers benefit from serving a specific industry. Read more
Indian fintechs amplify payments soundbox pitches to woo merchants (Tech Crunch)
Some of India’s biggest fintech startups are making deeper inroads into soundboxes, unveiling new push to the pocket-sized devices whose chimes are fast becoming the new ‘ka-ching’ for millions of Indian merchants. Paytm, whose soundbox leads the market and is used by over 7 million merchants, launched an advanced version of the device that doubles as a card machine, accepting offerings from Rupay, Visa, Mastercard and American Express. Read more
Do you have any news to share: please put firstname.lastname@example.org on your press list.