FinTech Focus: Catch latest developments of the week

By Gloria Mathias

Social media platforms can offer insights, helping FinTech and digital payments companies analyze consumer behavior and preferences, the most critical factors in the present, and industry trends.

With the ever-evolving digital landscape, it has become imperative for financial institutions to offer services that cater to consumers’ changing needs, and channels of interaction like social media can bridge that gap.

Similarly, numerous financial technology companies use social media platforms to announce product offerings, mergers, partnerships, and other developments to garner wider attention and better reach their target audience.

Let’s look at the top six announcements made by the FinTech bigwigs this week:

• Nuvei

Nuvei is pleased to partner with Microsoft to deliver leading payment experiences and accelerate revenue across many of its key markets.

Microsoft will leverage Nuvei’s expertise with recurring billing and individual transactions across its Microsoft Office 365 and Xbox product ranges. Nuvei and Microsoft are committed to extending this partnership across Microsoft Dynamics 365 and other use cases.

• Adyen

Adyen is happy to announce we’re strengthening our global partnership with Klarna, the AI-powered global payments network and shopping assistant. In this new partnership, we will become the acquiring bank on behalf of Klarna’s different consumer offerings, starting in Europe, North America, and Asia in 2024.

Together, we will simplify card payments for Klarna’s 150 million consumers and 500.000 retail partners globally.

• Magnati

Magnati is leading the charge for sustainable finance in the Middle East, teaming up with Fils, a trailblazing FinTech platform, ahead of COP28 UAE.

Our strategic collaboration is set to empower merchants with actionable environmental insights and drive green payments, reinforcing our steadfast commitment to sustainability.

Beyond a partnership, it’s a testament to our dedication to innovation and a greener future. Aligned with the ‘Net Zero by 2050’ strategy, this initiative marks a pivotal moment in our financial journey.

• Currencycloud

Currencycloud is pleased to announce its partnership with Mumbai-based cross-border payments Fintech, BRISKPE.

Sanjay Tripathy, co-founder and CEO at BriskPe, says, “Our collaboration with Currencycloud aligns perfectly with our mission to eliminate the complexities associated with international collections for MSMEs by simplifying international payments.

• IppoPay

Ippopay is thrilled to announce its partnership with Visa, a move to empower small businesses through Visa-powered credit cards. Together, we’re set to revolutionise the flow of credit to small businesses. Thanks to Team Visa for the support throughout this partnership’s development.

• Terrapay

Terrapay is delighted to announce our partnership with Small World Financial Services. This transformative alliance is set to redefine mobile wallet services across Senegal by empowering Wave Wallet account holders to directly receive remittances into their wallets via instant bank transfers from the EU and UK, using Small World Money Transfer.​ This partnership will tap into the rapid growth of mobile wallets in the region, enabling borderless money movement and enhancing financial inclusivity in the region.​