The second annual Global Fintech Rankings report, published by findexable, details increased global investment in the fintech sector over the past year, with $440 billion invested in fintech unicorns compared to $199 billion in April 2020.
Researchers from Mambu ranked fintech ecosystems across 83 countries, using data from findexable's Global Partnership Network and database, according to Simon Hardie, findextable founder and CEO. "It is especially good to see that the pandemic didn't slow down, and may have in fact accelerated the adoption of fintech in parts of the world that have previously been underserved," Hardie said.
The COVID-19 pandemic forced a lot of changes in the way merchants sell and consumers buy. This, in turn, created a "perfect storm" of opportunity for fraudsters. Evidencing this, the digital trust company Sift said it saw 59 percent in blocked, user-generated malicious content within its network of clients during the first quarter of the year. Sift just published its Q2 2021 Digital Trust and Safety Index report, which describes how "weaponized content" is moving the fraud economy forward and how consumers are reacting.
"Unexpected consumer behavior and disruption to business-as-usual were hallmarks of e-commerce throughout the pandemic," the report stated.
The UK's cash impact assessment, undertaken by Her Majesty's Treasury in January 2021, inspired discussions across the financial services ecosystem as cashless trends continue to gain momentum. Leaders from banking, payments and ATM sectors recognize cash as a viable payments option that complements digital transactions. Bruce Renard, executive director of the National ATM Council Inc., applauds the UK's undertaking, noting that cash is the only means of commerce for millions of consumers in England and America.
"Great Britain has recognized the critical importance of assuring continued universal access to cash for the very same sound policy reasons that apply here in the U.S.," he said.
PayPal launched a big push into the brick-and mortar market, offering PayPal Zettle to support omnichannel payment acceptance. PayPal Zettle is a digital POS system that can be used to manage sales, inventory, reporting and payments across channels and on one device. Pricing details include $29 for a merchant's first Zettle card reader and $79 for additional devices. PayPal Zettle transactions are priced at 2.29 percent plus 9 cents. QR code payments are priced at 1.9 percent plus 10 cents.
In a press release, PayPal said the pricing was "at launch" and subject to change. News of PayPal Zettle comes on the heels of notice of planned fee hikes for online payments.
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