Welcome to the latest edition of Payments Weekly, where we bring you the hottest updates and trends in the world of digital payments.
News of the week
Shop Pay is available on Adyen
Shop Pay is now available as a standalone payment solution for enterprise customers through Adyen. Spotify is expanding their services to enterprise retailers by opening up access to their highly effective accelerated checkout solution called Shop Pay. What’s great is that even if you’re not currently using Shopify, you can still take advantage of Shop Pay’s impressive conversion rates. Alongside this, Shopify has formed a strategic partnership with Adyen, a leading payment platform, to enhance payment options and integration for enterprise clients. This means you’ll have more flexibility in accepting various payment methods while seamlessly integrating them into your existing systems.
Payments News
PayPal is going after SMB
PayPal introduced a new product, PPCP, the PayPal Processing for Small and Mid-sized Merchants. This new service aims to provide smaller and mid-sized merchants with processing capabilities similar to PayPal’s Braintree unit, which caters to larger global merchants. While Braintree offers customization options, PPCP will provide a simplified, off-the-shelf solution, making it more accessible and user-friendly for businesses of varying sizes.
New Plaid antifraud tool
Plaid has recently launched Beacon, an innovative antifraud tool that aims to enhance security in the digital finance ecosystem. Beacon is an anti-fraud data sharing network that facilitates real-time and secure information exchange across various stakeholders. By enabling effective collaboration and sharing of data, Beacon helps mitigate recurring fraud incidents, safeguard consumers, and ultimately create a safer environment for digital finance.
Instant payments in EU by ACI
ACI Worldwide has introduced ACI Instant Pay, a cutting-edge real-time payments solution enabling merchants in Europe and the UK to seamlessly accept instant payments across online, mobile, and in-store channels. This innovative solution integrates effortlessly with the ACI Payments Orchestration Platform through a user-friendly API, providing merchants with a streamlined and efficient payment experience.
Amazon’s India expansion
In the fiercely competitive digital payments landscape in India, Amazon is making strategic moves to establish its presence with Amazon Pay. Despite facing tough competition from industry leaders such as Paytm Payments Bank and WhatsApp, Amazon is targeting mobile wallets to gain traction in India’s digital payments sector.
Some great researches and insights
- How do authorization success rates compare between open banking, digital wallets and card payments? (Finextra)
- Generative AI tools in Financial Services – How to move forward (paymentscardsandmobile)
- The Value of Vaults to Merchants (PYMNTS)
- Real-Time Payments Are Driving B2B Innovation (paymentsjournal)