Daria Kashurina’s Post

The digital payments space in Brazil and the UK shares many similarities, and some interesting differences. What can the regions learn from each other to drive evolution in #payments? Find out more in this blog from Gustavo Ruiz, President, Latin America at Paysafe: https://lnkd.in/deu5hgMP

Today we will tell you more on the #payments ecosystem in #Sweden from our white paper, "Key Players in the EU Payments Landscape 2023": https://lnkd.in/e3xXg-jq #Sweden is widely referred to as a pioneer in the move towards a cashless society. Currently, cash is mainly used to make small payments and by the elderly. In 2022, cash usage has once again decreased by 5% and the central bank Riksbank has indicated that it would continue following this trend, while reassuring that cash would still have a role to play in Sweden’s future.    This decrease is due to the emergence of new alternative credit-based payment methods developed by Swedish fintechs such as Klarna and Trustly, and the convenience of mobile payments offered by Swish.   Sweden is one of the leading countries in terms of fintech performance. This position explains the success of the abovementioned fintechs but also other Swedish fintechs that are currently booming, including the open banking enabler Tink and the mobile banking application ROCKER.   Sweden’s banks are usually considered as strong and high-performing compared to their European peers. The largest banks in Sweden are Handelsbanken, SEB and Swedbank. They are followed by the Finnish Nordea and the Danish Danske Bank. In addition, smaller Swedish regional banks such as Ikano Bank and Resursoperate in the Nordics and cover a significant market share of the Swedish banking sector.   Sweden is home to two payment gateways operating on an international level: Zettle by PayPal, and Bambora(part of Worldline). PayEx is another payment gateway operating on a regional level. DIBS Payment from Netsis also a regional player and offers gateway and acquiring services.   Two other interesting companies in Sweden include Smart Refill AB and Intergiro – which both hold e-money licences. Smart Refill AB is the leading fintech partner for TelCos by connecting their integrated payment solution to their existing systems. Intergiro offers embedded finance and business banking solutions.   Want to know more about the Swedish payment ecosystem? Download our report our report “Key Players in the EU Payments Landscape 2023” to find out: https://lnkd.in/e3xXg-jq

Do you know what you should know about EU Payments? Are you sure? For all 26 countries??? For any newcomer in payments or anyone who manages payment activities across several EU locations, the 176 pages long pdf downloadable for free here Great document to have at hand. Big thanks to the authors!!!

Fascinating insights into the state of #payments in the country often associated with innovation in #Fintech, from our sister association The Payments Association EU. Thanks, Thibault de Barsy, for extending the boundaries of knowledge for our industry.

Today we will tell you more on the #payments ecosystem in #Sweden from our white paper, "Key Players in the EU Payments Landscape 2023": https://lnkd.in/eFsQKXP8 #Sweden is widely referred to as a pioneer in the move towards a cashless society. Currently, cash is mainly used to make small payments and by the elderly. In 2022, cash usage has once again decreased by 5% and the central bank Riksbank has indicated that it would continue following this trend, while reassuring that cash would still have a role to play in Sweden’s future.    This decrease is due to the emergence of new alternative credit-based payment methods developed by Swedish fintechs such as Klarna and Trustly, and the convenience of mobile payments offered by Swish.   Sweden is one of the leading countries in terms of fintech performance. This position explains the success of the abovementioned fintechs but also other Swedish fintechs that are currently booming, including the open banking enabler Tink and the mobile banking application ROCKER.   Sweden’s banks are usually considered as strong and high-performing compared to their European peers. The largest banks in Sweden are Handelsbanken, SEB and Swedbank. They are followed by the Finnish Nordea and the Danish Danske Bank. In addition, smaller Swedish regional banks such as Ikano Bank and Resursoperate in the Nordics and cover a significant market share of the Swedish banking sector.   Sweden is home to two payment gateways operating on an international level: Zettle by PayPal, and Bambora(part of Worldline). PayEx is another payment gateway operating on a regional level. DIBS Payment from Netsis also a regional player and offers gateway and acquiring services.   Two other interesting companies in Sweden include Smart Refill AB and Intergiro – which both hold e-money licences. Smart Refill AB is the leading fintech partner for TelCos by connecting their integrated payment solution to their existing systems. Intergiro offers embedded finance and business banking solutions.   Want to know more about the Swedish payment ecosystem? Download our report our report “Key Players in the EU Payments Landscape 2023” to find out: https://lnkd.in/eFsQKXP8

🌐 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐑𝐞𝐭𝐚𝐢𝐥 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 2024 The European Central Bank (ECB) has unveiled the Eurosystem's retail payments strategy for 2024 and beyond, emphasizing these key priorities: 💳 𝐏𝐎𝐈 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 Creating a pan-European solution at the point of interaction (POI) for retail payments, ideally independent of card payment infrastructures and supporting the digital euro scheme. 🛡️ 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧𝐢𝐧𝐠 𝐒𝐄𝐏𝐀 Focus on full deployment of instant payments (SCT Inst) and tackling barriers like IBAN discrimination. 🚀 𝐂𝐫𝐨𝐬𝐬-𝐂𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 Exploration of TIPS for enhancing cross-currency payments. 🛡️ 𝐑𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐜𝐞 𝐨𝐟 𝐑𝐞𝐭𝐚𝐢𝐥 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 Resilience of retail payments must be improved. This requires diverse solutions not reliant on singular technology. European governed POI solutions relying on SCT Inst should steer clear of over-dependence on card payment infrastructure. 🚀 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 Encouraging innovation, fostering fintech growth, integrating non-bank PSPs into payment systems, and harmonizing eID and eSignature services for secure and efficient transactions. 🌱 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐀𝐜𝐜𝐞𝐬𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲 Supporting innovation, ensuring a level playing field, and enhancing environmental sustainability and accessibility in financial services.   Read the full publication here: https://lnkd.in/eK-FJmiP

A2A Payments: Thriving with Government Support 🚀 New insights from The Global Payments Report 2024 by Worldpay, highlighted in an article by Payments Cards & Mobile, reveal that Account-to-Account (A2A) payments are booming in emerging markets such as Brazil, India, Malaysia, Nigeria, and Thailand, thanks to strong government support. In developed markets like Norway, Finland, Sweden, and the Netherlands, A2A is also thriving. However, in regions like the US, Canada, and Australia, adoption is slower due to consumer concerns and regulatory challenges. The UK government has commissioned a report on potential improvements to payments and Open Banking. If its recommendations are adopted, then Worldpay project the share of A2A in UK e-commerce spending could grow to 8-10% by 2027. You can read the original article and the full report via the link in the comments section below ⬇️ #A2APayments #Fintech #OpenBanking 

Today we will tell you more on the #payments ecosystem in #Finland from our white paper, "Key Players in the EU Payments Landscape 2023": https://lnkd.in/e3xXg-jq Like the other Nordic countries, Finland has very low cash usage and a strong preference for electronic payments.    The Finnish banking market is dominated by four major players: Nordea, OP Financial Group, Danske Bank and  Kuntarahoitus – MuniFin. Together, they hold around 75% of the market share. Next to these four leaders are local players such as Aktia, S-Pankki, Ålandsbanken Abp and POP Pankki -ryhmä / POP Bank Group.   Enfuce is the “one-stop shop for card issuing and payment processing” and provides payment and banking services for banks, fintechs and merchants.   Paytrail, which is part of Nets Group, is Finland’s local payment solution service. This payment institution currently serves more than 10.000 merchants.   The EMI Holvi offers online payment accounts and issues Mastercard cards for businesses. Zevoy is an expense management company present in both the Nordics and the Baltics.   When shopping online, the Finns’ preferred payment methods are online bank transfers through Paytrail and Trustly. These methods are followed by the classic international credit and debit card brands Mastercard and Visa, followed by the Swedish BNPL, Klarna and the MobilePay app (used by 20% of the Finnish population).    Finally, Siru Mobile is another mobile payment method based on carrier billing.   Want to know more about the Finnish payment ecosystem? Download our report our report “Key Players in the EU Payments Landscape 2023” to find out: https://lnkd.in/e3xXg-jq

The Middle East is on the cusp of a digital payments revolution

Indeed exciting times in the MEA region, it's incredible to witness the innovation of local payment methods, particularly coming from digital/mobile wallet providers and A2A schemes. Discover more insights in our latest blog post below, as integrating digital local payment methods through local payment specialist is not just strategic; it's fundamental for expansion success. https://lnkd.in/dAhFg2Bz #FinancialInclusion #MEARegion #EmergingMarkets #DigitalPayments