Are we heading towards a cashocalypse?
The answer is a big YES and NO! As the e-commerce industry booms and the pandemic fear looms, several countries worldwide have embraced digitized payments as the new way to go. And cashless is the new normal today.
This month in FinTalk, we explore the rise of cashless societies in 23 countries. We also bring you the exclusive interview of M2P's Service Desk Manager, Preethi, a woman of her word.
This article sheds light on 23 cashless societies across the globe and how banks, fintechs, and businesses can adapt and grow in the digital world. Read more.
As we are marching towards the cashocalypse globally with a plethora of cashless and contactless digital initiatives, read our take on the latest buzz, e-RUPI India's first step towards a purpose-specific digital payment solution. Know more.
This September, the Star of the Month is our very own Preethi Parthasarathy, the brain behind our Service Desk. Catch up with Preethi here as she shares her secret sauce to success. Read more.
Apple Pay in the US powers 92% of mobile wallet transactions
Nearly 2.5 billion users will access banking services digitally in 2021
The US in-store mobile payments are set to hit $125 billion by 2025
37% of financial service organizations offer fintech-based products or services
INDIA
Eight major Indian banks launched the country's new Account Aggregator (AA) service, designed to enable customers to consolidate their financial data. They are HDFC Bank, Kotak Bank, ICICI Bank, Axis Bank, SBI, IndusInd Bank, IDFC, and Federal Bank.
UK
JP Morgan is set to launch its new digital retail bank 'Chase' in the UK. It is the largest consumer bank in the United States and provides a broad range of financial services to more than 60 million American households.
Brazil
Brazilian digital bank 'Banco Inter' has announced the acquisition of US payments fintech USEND for an undisclosed sum as it looks to expand into North America.
US
Goldman Sachs is acquiring fintech lender and Buy Now Pay Later (BNPL) provider GreenSky in a $2.24 billion deal to boost its entry into consumer finance markets.
MENA
Today, Saudi Arabia's blockchain market is worth SR65 billion and is expected to grow by 41% between 2021 and 2025.
That's it for now. See you again soon with all the need-to-know fintech updates!
Stay tuned. Stay curious.
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