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Data, insights and news on global eCommerce.
Open Banking emerged as a concept in 2010s, as regulators sought to stimulate competition and innovation in financial services. On launch in 2018, adoption was slow as fragmented technology, concerns about data sharing, and limited use cases created headwinds. Over time, the popularity of digital business models such as fintech and ecommerce grew among consumers […]
Banking as a Service (BaaS) occurs when an authorised financial institution allows a non-bank business to offer financial services on a white-label basis. This allows the non-bank to creatie new revenue streams, better customer experiences and deeper relationships. BaaS lowers the barrier to entry to financial services and is profitable at scale. However, it remains […]
Open Banking allows third-party providers (TPPs) to source account data and initiate payments from a customer’s account at another financial institution. Open Banking is used by financial and non-financial businesses to innovate new services, automate processes, and make decisions that were previously excluded, giving customers better choices and experiences. Consumers and businesses must consent to […]
Financial Services are significant in Europe, accounting for over 9% of economic output. London and Frankfurt
Payment tokenization is a technique that replaces sensitive card data, such as name and primary account number (PAN), with a unique random code. Tokens are ideal for storing sensitive data against financial crime such as unauthorised access (internal fraud) and data breaches (external hack). Tokens increase sales by reducing the need to re-key data,
Credit cards are a huge market. In the US, they are the dominant payments method, accounting for 31-40% of total with an annual value of USD 5tn. 800m credit cards are in circulation with total debt exceeding USD 1.2 tn, the average cardholder has 3.9 credit cards and USD 6.7k debt. In
To be classified as e-Money, certain characteristics must be fulfilled: What are examples of Electronic Money? Why does Electronic Money Matter? For corporates, e-Money is an alternative to traditional bank accounts and payment rails. e-Money is flexible and able to cover numerous use cases, currencies, and enable real-time transactions. Often cheaper
Interchange fees are the costs applied to a merchant when a customer makes a credit or debit card payment. The fee is collected by the payment acquirer and then apportioned to the card issuer, card network and acquirer. Example of interchange fees? For an EUR 100 card payment the unit economics