Marcel van Oost

Apple has introduced Apple Pay Later, a new feature backed into the company's payment platform that will allow users to split purchases into separate payments.

The buy now, pay later service will allow users to split any Apple Pay purchase into four equal payments over six weeks with no additional interest or fees.

When users make an Apple Pay purchase, they'll get the option to split the cost. The purchase page will detail how much the individual payments are and when they will be due.

Payment plans are managed through Apple Wallet. The feature is also baked into the Apple Pay platform, meaning it'll already be supported in different apps and services.

In addition to the buy now, pay later service, Apple Pay also supports intelligent order tracking for purchases, allowing users to easily see when their orders will arrive in the Wallet app.

Read the full AppleInsider source article through the link in the comments below👇

#fintech #payments #buynowpaylater #bnpl #paytech #digitalpayments #apple #applepay #fintechinnovation #digitalbanking #financialtechnology #financialservices

Apple announced “Tap to Cash“ at it's annual WWDC event 🤯

Here are more Apple Wallet updates announced today:

► Tap to pay for Apple Cash:

Tap to Pay is more or less what it sounds like, letting users pay for things by tapping together a pair of iPhones.

As the name also suggests, the feature is effectively an outgrowth of Apple Pay’s longstanding Tap to Pay feature.

Similarly, the new addition likely uses the device’s NFC functionality.

Apple notes that the feature transfers money without having to share any personal info — a nice added privacy element .

Apple isn’t the first to bring this feature to market, but one wonders what impact this feature will ultimately have on standalone payment device/platforms like Square etc.

► New Apple Pay Online platform.

► Improved support for event tickets.

More info in this live blog coverage: https://lnkd.in/e2cUbjQD


Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ]
Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ]
Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]

This is the Revolut pitch deck used to raise a £1.5m seed round of funding 🤯

Visa 🆚 Mastercard 🆚 PayPal 🆚 American Express

The latest Income Statements from the Payments Giants at glance:

Source: App Economy Insights


Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ]
Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁]
Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]

Revolut secured a UK 🇬🇧 Banking Licence this week.

Here's what it means and why it probably won't silence doubters:

The approval paves the way for Revolut to challenge the UK’s biggest domestic banks, allowing it to offer full banking services, including mortgages.

In the UK, a priority will be attracting more deposits by paying interest to customers, according to a person familiar with the plans.

This will help fund customer loans. But the UK licence also removes what has long been seen as a hurdle to 𝗶𝗻𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗲𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻. 

While a Lithuanian licence has allowed it to operate as a bank in the EU, securing a licence from its home regulator was viewed as likely to strongly influence watchdogs in markets where Revolut is seeking to expand, according to people familiar with the matter — not least the US and Australia.

The decision could also help Revolut justify the $𝟰𝟱𝗯𝗻 valuation it is seeking in an 𝘂𝗽𝗰𝗼𝗺𝗶𝗻𝗴 𝘀𝗵𝗮𝗿𝗲 𝘀𝗮𝗹𝗲.

If it completes the sale of $500mn of existing shares at that price, it will be one of a select group of FinTechs that has managed to increase its valuation from the frothy markets of 2021, when it was valued $33bn.

The company’s internal forecasts are extremely bullish. It reckons it can hit revenues of $9bn by the end of 2026.

That would require revenue growth to accelerate from the 55 percent Revolut expects this year, roughly doubling again over two years.

If it delivers on its lofty promises, then investors in the latest share sale are not getting a bad deal.

Assuming half the growth needed to meet its 2026 target comes next year, and profitability remains steady, then a $40bn valuation equates to 25 times 2025 earnings.

The UK’s Wise and Brazilian digital bank Nubank both trade on 22 times 2025 earnings.

Revolut might have to sacrifice profitability to hit promises on the top line.

It spent £241mn on advertising and marketing last year, twice what it did in 2022 — or about £20 per new customer.

That looks high compared with the estimated £7 per customer that Wise and Nu spent in 2023 (see picture below👇).

𝗥𝗲𝘀𝘁𝗿𝗶𝗰𝘁𝗶𝗼𝗻𝘀

Revolut is not quite there yet. Its banking licence has been granted under “restrictions”, which is a normal first step as it seeks to meet all the conditions needed to launch as a bank.

Once the restrictions — which include a £50,000 total deposits limit — are lifted and Revolut can operate as a bank, its 9mn UK customers will also be included in the Financial Services Compensation Scheme, meaning deposits of up to £85,000 will be protected if the company were to collapse.

I highly recommend reading the complete Financial Times story about how Revolut finally won the licence to unlock growth in UK (and beyond) and what it means: https://bit.ly/4dgOjxP


Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ]
Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁]
Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]

Card services tend to be imagined as a duopoly between Visa and Mastercard. However, founded in 2002, China’s UnionPay surpassed Mastercard by transaction volume in 2017 🤯

In 2023, UnionPay recorded 228 billion transactions globally, now firmly in second place behind Visa (267 billion).

According to Retail Banking Research, it also surpassed both Visa and Mastercard in terms of overall payment value as well.

UnionPay’s largest market is China, where it’s the only interbank network, linking all the ATMs.

It’s also worth noting that the majority of UnionPay transactions are debit transactions, though its credit card products are growing fast.

▶ American Express cards are less popular due to higher merchant fees, limiting their acceptance.

Check out the visual below for Visa, Mastercard, and China UnionPay's Transaction Volumes in 2023👇

Sources: Statista & Visual Capitalist - https://lnkd.in/d_BaJzVy


Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ]
Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁]
Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]

BREAKING: Revolut is launching a one-click payment feature called Revolut Pay in a bid to rival PayPal and other tech giants at online checkouts.

Revolut Pay has signed up retailers including Shopify Inc., Prestashop, WH Smith Plc and Funky Pigeon, and will be available within the airline industry in the coming months, according to a statement from the London-based fintech.

Thibaut Genevrier, head of merchant acquiring, said in an interview from New York that Revolut Pay was a sign the firm has reached “critical mass,” having branched out from its original prepaid card into a range of financial services for both consumers and businesses.

“We want to be on the top 1,000 e-commerce websites in Europe. We want to be right there in the checkout and have merchants improve their conversion rate,” he said.

Businesses will be paid within 24 hours, which he said was several days quicker than some rivals. Revolut will charge retailers fees of about 1% for the service.

Read the full article through the link in the comments below👇

#payments #paytech #fintech #financialtechnology #revolut #bank #banking #businessbank #digitalbanking #neobank #bankingapp #paymentservices #checkout #ecommerce #digitalpayments #paymentprovider #paymentsolutions #fintechinnovation #bankingtechnology #businessbanking #financialservices #fintechnews