Insights Magazine from CMSPI
Page 21 | November 2021
United States
Germany
Sub-Saharan Africa
President Biden signed an executive order endorsing open banking growth in the U.S. (July 2021).
Paysafe acquired Germany’s viafintech, an alternative banking solution and the biggest bank-independent payments structure in the DACH region (August 2021).
As of September, according to a Global System for Mobile Communications report, Sub-Saharan Africa makes up 66% of global mobile money transactions.
Canada
Italy
Commonwealth Bank of Australia launches BNPL solution (Steppay) in August 2021. The solution charges merchants 0.80% per transaction, 10x higher than debit rates. Australia
Apple and Affirm’s PayBright launch a BNPL program in August for Apple device purchases in Canada.
Worldline acquires 80% of Axepta Italy, BNL’s merchant acquiring entity (July 2021).
Mexico
Kazakhstan
China’s Digital Yuan was used in China’s domestic future market for the first time (August 2021). China
Fintech Credijusto, a lender to small businesses, acquired Banco Finterra for $50mn in June.
Kazakhstan’s first digital Islamic bank, Tayyab, launched in July, offering Shariah-compliant finance in the growing Islamic economy.
Argentina
Ukraine
Mastercard banned from on-boarding new domestic customers onto its card network from July 2022. India
Brubank, a digital-based bank, is looking to expand to Colombia and Peru in 2022 after additional fundraising.
Ukraine government introduced a bill allowing cryptocurrency payments a few weeks after the central bank was allowed to issue digital currency (August 2021).
Brazil
United Kingdom
TSYS experienced a nationwide system outage, affecting at least two cashless sporting venues (August 2021). New Zealand
WhatsApp Pay went live after the Central Bank finally cleared operations of the payment service (May 2021).
UK’s Competition and Markets Authority mandates the nine largest banks in the UK to allow variable recurring payments for sweeping transaction by Jan 2022.
El Salvador
Nigeria
President Bukele tweeted favorable economic viewpoints shared from a Bank of America report on Salvadorian Bitcoin (August 2021).
Following Apple Pay’s entry into South Africa earlier this year, Nigerians can now pay with Apple Pay at merchants using Paystack, an African-based fintech that processes payments for businesses.
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