The Monday Roundup: what we are watching this week | June 9th

By Puja Sharma

The Monday Roundup sets the scene for the week’s biggest news stories, industry deals, and upcoming events. For Prime subscribers only.

Environmentally responsible payment service

Zaggle Prepaid Ocean Services has unveiled plans to acquire a full 100% stake in GreenEdge Enterprises for a total consideration of approximately $3.2 million (₹27 crore). GreenEdge, which specialises in golf-related travel, experiential offerings, and access-based rewards, posted a turnover of ₹19.82 crore in the financial year 2023–24.

The acquisition is expected to enhance Zaggle’s presence in the loyalty, rewards, and travel sectors, with a particular focus on strengthening its Propel platform. The deal is expected to be completed within 90 days, although the precise structure—whether an all-cash deal or a share-swap arrangement—is yet to be confirmed by the board.

Lemonway, a French payment service provider, has acquired the business of fellow French PayTech firm PayGreen. This strategic move is aimed at enhancing Lemonway’s sustainability-focused payment offerings and expanding its merchant services.

PayGreen, known for its eco-conscious payment solutions, brings tools like carbon footprint tracking and green checkout options to the table. By integrating PayGreen’s technology, Lemonway plans to offer more environmentally responsible payment services to its clients, particularly in the e-commerce and marketplace sectors.

This acquisition aligns with Lemonway’s broader mission to support sustainable finance and strengthen its position in the European paytech ecosystem.

Express Money

LianLian Global and UnionPay International announced their strategic partnership. The signing ceremony was attended by Tim Shen, CEO of LianLian Global; Adora Wang, CEO of LianLian Europe; and Jianmin (James) Yang, Vice President of UnionPay International Europe Region.

The two parties will combine their expertise to redefine cross-border payments, leveraging Lianlian’s global network and UnionPay International’s MoneyExpress to provide fast and efficient cross-border remittance solutions for customers. The alliance aims to facilitate seamless, secure, transparent, and efficient international transfers, particularly for clients remitting funds to China’s mainland. In the B2B payment sector, the two parties will deepen their cooperation in online payment acceptance, digital card issuance, payouts, and other services to facilitate cross-border payments for Chinese enterprises expanding into overseas markets.

PayU GPO, an online payment service provider operating in over 40 emerging markets, unveiled the launch of Account-to-Account (A2A) payments in Nigeria and the appointment of Ryan Engel as the new Country Manager for South Africa.

This investment reflects PayU GPO’s broader strategy to drive financial inclusion and modernise the continent’s payment infrastructure while responding to rapidly shifting consumer preferences.

The expansion occurs at a time when alternative payment methods are gaining popularity across the region. Insights from Black Friday 2024 show a steady decline in traditional card usage, with card transactions dropping from 93% in 2022 to 84% in 2024 in South Africa. Meanwhile, Open Banking methods are rapidly gaining traction; CapitecPay transactions alone grew by 104% year-over-year. Mobile-first purchasing continues to surge, with 67% of Black Friday transactions now occurring on smartphones.

What is the Buzz

AI-powered virtual agents are poised to reshape digital commerce in Europe, potentially handling €191 billion in eCommerce transactions across Germany, the Netherlands, Poland, Spain, and the UK by 2035. This would account for 17.5% of total e-commerce spending in these markets, according to a new report by Celent, commissioned by Tietoevry Banking.

Titled A Future of European Payments, the study outlines three key trends driving this shift. First, Account-to-Account (A2A) payments are expected to rise sharply—from 24% of digital payments in 2025 to nearly 40% by 2035—as infrastructure improves. Second, flexible payment options like Buy Now, Pay Later (BNPL) and credit-linked A2A payments will see strong growth, with the latter projected to hit €35.7 billion. Finally, AI-powered commerce agents are expected to manage routine transactions across sectors such as travel, food, media, and finance.

While card payments will grow in absolute terms, they’re likely to lose share to more agile A2A models. The role of digital wallets will continue, albeit with blurred boundaries as payment platforms converge.

Natalija Dmitrijeva of Tietoevry Banking urged banks and FinTechs to modernise systems and forge strategic partnerships to remain competitive in this rapidly evolving ecosystem.