The hottest Payments Substack posts right now

And their main takeaways
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Top Finance Topics

The card payments you use every day are stunting economic growth - it's time for an upgrade

Building The Future of Payments by Mike Kelly • 1 HN point • 21 Jun 24
💰 Finance Payments Fees Fraud Economic Growth
  1. Card payments are outdated and inefficient, hindering economic growth by increasing costs, slowing transactions, and exposing to fraud.
  2. Card transaction fees act as a hidden sales tax, increasing prices for everyone and placing burdens on local businesses.
  3. Moving beyond traditional card systems to modern payment methods can lead to improved user experiences, reduced fees, and increased economic growth.

Issue #100 🎉 🥳 : Revolut Expands Into Offering eSIMs, FIS Partners To Offer A2A Payments, And Temenos Gets Hindenburged

Fintech Radar • 6 implied HN points • 22 Feb 24
💰 Finance Fintech Payments Banking Startups Investment
  1. Revolut ventures into telecom by introducing phone plans in the UK with eSIMs, aligning with its all-encompassing super app vision.
  2. FIS partners with Banked to offer pay-by-bank solutions, a move towards A2A payments that could challenge traditional card schemes.
  3. Temenos faces allegations from Hindenburg Research, highlighting the challenges in large corporate tech transformations and the need to address accusations.

Issue #90: The ASX Turns To Tata For Help With CHESS Replacement, The FCA Gives Go Head To Klarna For Payment And Credit Services, And The Definitive Podcast On Visa

Fintech Radar • 8 implied HN points • 29 Nov 23
💰 Finance Regulation Funding Insurtech Payments Blockchain
  1. Governments are tightening regulations on BNPL services, impacting fintech firms.
  2. Consumer-facing fintech startups face challenges in a crowded market, leading to pivots.
  3. Nubank's innovative offering of transferring credit card limits for personal and business use showcases opportunities in fintech.

Issue #97: PayPal Fails To Excite The Market With Its New Features, TikTok Wants Every Post To Be Shoppable, And Klarna Drops A Subscription Product

Fintech Radar • 6 implied HN points • 31 Jan 24
💰 Finance Fintech Payments Subscription Mergers & Acquisitions Investments
  1. PayPal failed to impress the market with its new features, losing momentum after an initial spike in stock value.
  2. TikTok is testing a feature to make every post shoppable, aiming to boost its e-commerce business with enhanced shopping experiences.
  3. Klarna introduced a $7.99 subscription plan 'Klarna Plus' to generate recurring revenue as it gears up for its IPO, reflecting mixed opinions on the BNPL industry.
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Issue #86: Musk Wants X To Replace Your Bank, JPM Coin Is Now Handling $1b In Daily Transactions Volume And Catch Relaunches

Fintech Radar • 8 implied HN points • 31 Oct 23
💰 Finance Fintech Investment Banking Payments Insurtech
  1. Elon Musk plans to turn Twitter into a financial app called X by 2024.
  2. Monzo is in talks to sell a stake in the company worth over £300m to prepare for an IPO.
  3. JPMorgan's JPM Coin handles $1 billion in daily transactions, showing slow but significant growth in blockchain-based financial infrastructure.

Issue #82: Apple Explores Open Banking In The UK, Ant Group Launches A Pan-Asian Mobile Wallet, And Nova Credit & HSBC Collaborate on Cross-Border Credit Sharing

Fintech Radar • 6 implied HN points • 02 Oct 23
💰 Finance Fintech Banking Payments Investments Regulation
  1. Apple introduces feature allowing UK users to view bank account balance via Apple Wallet using Open Banking APIs.
  2. Ant Group expands payment ecosystem for Asian e-wallets through Alipay+ Program, enabling seamless mobile payments.
  3. Nova Credit partners with HSBC UK to offer credit card for immigrants, leveraging international credit history for new customers.

Issue #78: X Gets Licenses in Multiple U.S. States, Open Banking Payments Are On The Up And A Partnership Between Hallmark And Venmo Brings New Meaning to 'Embedded Finance'

Fintech Radar • 6 implied HN points • 04 Sep 23
💼 Business Fintech Payments Financial regulation Venture Capital
  1. Elon Musk's X obtaining licenses in multiple U.S. states to process payments, entering into the fintech space.
  2. UK experiencing a surge in open banking payments, with significant growth in single domestic payments.
  3. Hallmark and Venmo partnering to allow sending money in physical greeting cards, showcasing embedded finance innovation.

Retrospective on a Kenyan Payments Workflow

Vivid Leaves • 2 HN points • 14 Mar 24
🕹 Technology Payments Infrastructure Ecommerce APIs
  1. Ecommerce players in emerging markets often face challenges with cash management due to low card adoption and customer trust issues, leading to a need for innovative solutions like payment upon delivery.
  2. M-Pesa in Kenya revolutionized cashless payments with its mobile money network, which played a crucial role in enabling online commerce and providing a solution for payment workflows in the region.
  3. Creating unique solutions, like using M-Pesa for cash remittance and optimizing delivery routes, can help businesses navigate operational challenges and improve efficiency in regions with specific infrastructural characteristics.

Issue #79: Visa Gets In On Stablecoin Summer, Monzo Takes On Scam Callers, And ThetaRay Secures $57M To Fight Money Laundering

Fintech Radar • 4 implied HN points • 11 Sep 23
💰 Finance Fintech AI Compliance Investment Payments
  1. Visa expands stablecoin settlement capabilities by partnering with merchant acquirers, facilitating instant payment authorizations.
  2. Temenos introduces a generative AI tool to automatically classify customer banking transactions, potentially revolutionizing banking processes.
  3. ThetaRay raises $57M for AI tools to fight money laundering, showcasing the increasing importance of compliance-focused startups in fintech.

Alert: Central Bank of Nigeria Circular PSM/DIR/CON/INM/011/142

RegAlert • 0 implied HN points • 02 Aug 21
💰 Finance Regulation Banking Payments Guidelines
  1. The Central Bank of Nigeria has issued guidelines for the licensing and regulation of Payments Service Holding Companies in Nigeria.
  2. The circular PSM/DIR/CON/INM/011/142 outlines the specific requirements and directives for these companies.
  3. Those interested can download the detailed guidelines from the official website of the Central Bank of Nigeria.

Afridigest Week in Review: Africa to the world

Afridigest • 0 implied HN points • 04 Mar 24
💼 Business Tech Payments Startups Investors Economics
  1. Afridigest provides a Week in Review focusing on Africa tech, sharing exclusive reports on Jumia Food and startups digitizing payments in Nigeria.
  2. The Afridigest Week in Review highlights organizations like Partech, Gro Intelligence, and executives like Cyril Collon, Tayo Oviosu, and others.
  3. The content is curated for paid subscribers, offering in-depth insights into the African tech ecosystem.

Some Bitcoin thoughts

Joshua Gans' Newsletter • 0 implied HN points • 24 Dec 13
🔮 Crypto Payments Innovation Mining Platform Bitcoin
  1. Money is a platform where value transmission depends on belief and agreements among people. Stability and acceptance are crucial for efficient transactions.
  2. Bitcoin's stability as a payments platform is weak, but it offers potential benefits for wealth storage and operating outside government surveillance.
  3. Bitcoin's innovation as a payments platform, especially its programmable nature, is significant and revolutionary in the world of monetary economics.

A North Star For The Future Of UK Payments: The Layered Payments Architecture

Building The Future of Payments by Mike Kelly • 0 implied HN points • 15 Dec 23
💰 Finance Payments Innovation Architecture
  1. The UK has been a leader in financial innovation, notably with Faster Payments and Open Banking, demonstrating expertise in creating efficient and secure payment solutions.
  2. A Layered Payment Architecture in the UK would involve Instant Settlement Rails, Account and Identity Management, and Overlay Services and Networks to promote economic growth and reduce transactional costs.
  3. The strategic benefits of the Layered Approach include robust security, economic empowerment, future-ready infrastructure, and reinforcing the UK's global leadership in fintech innovation.

How does banking work?

Logos • 0 implied HN points • 27 May 24
💰 Finance Banking Investments Loans Payments Regulations
  1. Banks don't just hold your money; they lend it out and invest it to earn interest. When you deposit money, the bank essentially sees it as a loan from you.
  2. Finance has important roles, like reducing risk and helping money flow to better opportunities. This means finance can make the economy more productive.
  3. Banks create money by giving out loans based on deposits, not by just moving your cash around. This process helps fund things like homes and businesses.

Papaya Global's Eynat Guez on the Magic of AI in Payroll, Owning the Payment Rails and Why Younger Generations Are "Unbanking"

James Ledbetter's FIN • 0 implied HN points • 11 Nov 24
💼 Business Fintech Payroll AI Payments Global Trade
  1. AI is really changing how payroll works by helping to easily extract data from documents. This makes processing payroll much quicker and easier for companies all over the world.
  2. Younger employees want more digital benefits and flexibility in how they get paid. Companies like Papaya Global are trying to meet these demands with new features like employee wallets for better control of their money.
  3. Many traditional companies are still using outdated spreadsheets for payroll. They need to adapt quickly to new technology and regulations to keep up with modern business demands.

Apple’s fintech strategy; FedNow is under the "radar" of Stripe; 2023 Business payments barometer;

Fintech Wrap Up • 0 implied HN points • 21 Jun 23
💼 Business Fintech Payments Acquisitions Regulations
  1. Apple has experienced significant growth in its fintech offerings through partnerships and products like Apple Pay and Apple Card.
  2. FIS acquired the BaaS startup Bond, showcasing continued consolidation in the fintech industry.
  3. Venmo and Cash App are facing pressure from Senate Democrats to improve security measures due to concerns about fraud and consumer protection policies.

The Future of Money: India or the West?

Decentralised • 0 implied HN points • 02 Aug 24
💰 Finance Payments Fintech Innovation Global Economy
  1. India is leading in payment innovations like UPI, which has skyrocketed transaction numbers and financial inclusion. This shows that developing countries can sometimes teach developed nations a thing or two about digital payments.
  2. The UK, despite being an early pioneer in payments, is not growing as fast as India. Its Faster Payments Service has only gained a small share of transactions, while UPI has taken over the market in India.
  3. For successful payment systems, it's important to focus on user-friendliness and strong government support. Learning from India's successful payment models can help improve financial technology in other countries.

Revolut’s US payment flaws allowed thieves to steal $20mn; China wraps up fintech crackdown with big fines on Tencent, Alibaba;

Fintech Wrap Up • 0 implied HN points • 12 Jul 23
💰 Finance Fintech Payments Regulation Consumer behavior
  1. Revolut had flaws in their US payment system that allowed thieves to steal $20mn
  2. China imposed big fines on Tencent and Alibaba as part of a fintech crackdown
  3. AI in financial services is evolving with the rise of generative AI, complementing traditional AI

Pizza Place Payments

Money in Transit • 0 implied HN points • 23 Jan 24
🕹 Technology Payments Software Database Events Architecture
  1. Understanding the separation of orders and payments is crucial for developing useful payment applications.
  2. When building payment applications, ensure past orders and payments are unaffected by future changes in products and variants.
  3. Invoices notify about payments, receipts prove payments; keep both immutable and associated with an order.

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/001/039

RegAlert • 0 implied HN points • 27 Jun 23
💰 Finance Regulations Payments Banking Risk management Standards
  1. The Central Bank of Nigeria issued guidelines for contactless payments in the country, aiming to standardize operations and promote innovation while ensuring financial system stability.
  2. Banks, financial institutions, and payment service providers are required to adhere to these guidelines, implement risk management processes, and maintain relevant standards for contactless payments.
  3. Participants in contactless payments in Nigeria must download and adhere to Circular PSM/DIR/PUB/CIR/001/039 available on the Central Bank of Nigeria's website.

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/001/048

RegAlert • 0 implied HN points • 27 Jun 23
💰 Finance Banking Regulations Payments Technology
  1. The Central Bank of Nigeria has issued a circular regarding transaction limits on contactless payments, requiring adherence from financial institutions and payment service providers.
  2. Transactions exceeding the specified limits on contactless payments will need verification and authorization.
  3. Higher-value contactless payments must meet existing KYC requirements and limits on electronic payment channels, while transactions above the daily cumulative limit should use contact-based technology.

Alert: Central Bank of Nigeria Circular PSM/DIR/CON/INM/016/118

RegAlert • 0 implied HN points • 04 Jul 22
💰 Finance Regulations Banking Payments
  1. The Central Bank of Nigeria is requesting financial institutions to review and implement specific QR code presentment options in payments.
  2. Financial institutions can choose between merchant-presented or consumer-presented QR code options for payments.
  3. The Central Bank of Nigeria will continue to monitor industry developments and provide additional guidance as needed.

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/01/006

RegAlert • 0 implied HN points • 26 May 22
💰 Finance Banking Regulations Payments
  1. Financial institutions in Nigeria must accept indemnity from customers for secure online funds transfers, with varying limits for individuals and corporations.
  2. Customers should be given the option of electronic or paper indemnity, with stricter controls like biometric verification for electronic indemnity.
  3. Multiple factor authentication is required for secure online funds transfers, and customers must be informed about indemnity's role in increasing transaction limits.