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The Latest Data on Real-Time Payments Global Expansion https://lnkd.in/gRgqedfu Real-time payments are experiencing significant global expansion as governments, banks, and corporations work to make instant transactions the standard. In the U.S., adoption is accelerating with banks like First Citizens Bank utilizing the RTP® network to offer secure, instantaneous transfers. Australia’s National Australia Bank has integrated international transfers with its domestic system, enabling faster payments across borders. Meanwhile, Europe is advancing through collaborations like Visa’s partnership with Revolut, which supports instant, cross-border transfers. Innovations like Hungary’s qvik system further highlight the global shift towards real-time payments.

The Latest Data on Real-Time Payments Global Expansion Real-time payments are taking the world by storm, with countries rolling out faster, more efficient payment systems. U.S. banks are catching up, as First Citizens Bank now offers instant payments through the RTP® network. Australia is streamlining international transfers with its domestic real-time payments service, and Europe is keeping pace with Visa’s cross-border transfers via Revolut. Even QR code payments are gaining traction in places like Hungary with the qvik system. Real-time payments are truly becoming a global phenomenon. https://okt.to/NQoBhU

🚨 Poland’s BLIK payment system looks to expand abroad with Revolut Here is what we know: Blik, the payment system that has taken Poland by storm, is reportedly working on making its instant payment services available to Revolut’s banking clients in Poland and subsequently roll out its service internationally with the help of the U.K.-based financial platform. Blik, owned by Polish Payment Standard, an alliance of Polish banks backed by Mastercard, has become a leading cashless payment system, growing to have over 𝟭𝟲.𝟱 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 𝘂𝘀𝗲𝗿𝘀 since its inception in 2015. The Blik system allows transfers by phone after linking a phone number with a bank account. Customers receive a six-figure code to validate a transaction, which expires after two minutes. Blik technology has just been launched in Slovakia in conjunction with Raiffeisen’s Slovak subsidiary - Tatra Banka. Earlier, Blik moved into the United Arab Emirates. However, the Polish service's next European foray - into Romania, where it set up shop in 2023 - is still awaiting official approval. The Rzeczpospolita daily, citing insiders at Polish Payment Standard and Revolut, reported that trials of Blik’s codes on the Revolut financial platform are underway. Blik capabilities on Revolut’s mobile service are expected to be officially launched by the end of the year. More info/source: https://lnkd.in/d7WKhu_y Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] 

So it appears that after the UK, Revolut is ready to look for a banking license also in the US #Revolut, the #fintech giant co-founded in 2015 by Nikolay Storonsky, is signaling renewed ambitions to secure a U.S. banking #license, a move that would mark a pivotal step in its transformation from a foreign exchange startup to a global financial powerhouse. Speaking to investors in Helsinki, Storonsky emphasized the importance of a credit-driven approach in the U.S. market, where the ability to offer credit cards and earn interchange fees necessitates a banking license. Revolut currently operates in the U.S. through a partnership with Lead Bank but has paused its previous application for a full banking license. Reflecting on Revolut's rapid international expansion, Storonsky admitted that their early "grow fast, break things" philosophy led to missteps, particularly in heavily regulated markets. He acknowledged that lighter regulatory permissions like e-money licenses, while expedient, limit product offerings and hinder market fit compared to comprehensive banking services. Revolut’s evolution continues to gain momentum, supported by a UK banking license secured in July 2024 and a valuation of $45 billion following a recent secondary share sale. With a global customer base now surpassing 50 million, including 10 million in the UK alone, the firm is targeting ambitious growth—seeking to double its size to reach 100 million daily active customers in 100 countries, with $100 billion in annual revenue. Storonsky’s vision is clear: to position Revolut as the world’s leading digital bank. And in this direction, the US is still missing a local champion in the digital banking space. Will Revolut be this champion? The article on BNN Bloomberg in the first comment.

https://lnkd.in/eipjvRAT Europe's first sovereign payment solution - it has got some sizeable backing but will it really challenge Visa and Mastercard? Complete transactions in under 10 seconds straight to your bank account, significant reductions in transactions costs and moves our reliance away from US based payments giants - certainly sounds good! Should Europe try to be less reliant on the US - especially with political events in the last week?

A collaboration between Mastercard and a Moroccan banking group aims to enhance cross-border payment solutions, increasing transaction efficiency and fostering regional economic growth. Utilizing Mastercard Move, the initiative will offer clients quick, traceable, and cost-effective payment options while empowering local economies to better engage with global markets. #CrossBorderPayments, #PaymentTechnologies, #EconomicGrowth, #Mastercard, #BCPGroup, #Forex, #Fintech

Register today http://bit.ly/3CHhfSU for our monthly Regulator Working Group on the #DigitalEuro with Reinis Vecbaštiks, Chief Payments and Financial Markets at Latvijas Banka (The Central Bank of Latvia). http://bit.ly/3CHhfSU Speaking of Latvia... “Latvia is steadily emerging as a global fintech hub, propelled by continuous improvements of the regulatory framework and introduction of new supporting tools for fintech ventures." This is the key takeaway from Andris Liepins and Valters Sniedzītis, CAMS, respectively Partner and Senior Manager at Deloitte, regarding the Latvian payments ecosystem, as featured in our whitepaper, “Key Players in the EU Payments Landscape 2024 ": https://lnkd.in/dVYy5rTP 💳 Nestled in the heart of the Baltic region, Latvia is emerging as a European fintech leader, transitioning from a cash-dominated market to a cashless society, with 77% of transactions being non-cash in 2023. The shift is supported by widespread adoption of contactless cards and government initiatives like low-cost bank accounts, financial literacy programs, and expanded payment infrastructure. 📲 Cards, and more particularly debit cards are the most used payment method in Latvia. However, alternative payments like digital wallets and bank transfers are gaining in popularity. Key players include Paysera, Monese & Mobilly. 🏦 Latvia's banking market is dominated by Scandinavian-owned Swedbank and SEB Latvija, which hold nearly 60% market share. Local player Citadele banka ranks third (23%), offering traditional banking, wealth management, and as the sole issuer of American Express cards. Other notable banks include Luminor Lietuva, AS Rietumu Banka, and BluOr Bank (formerly BlueOrange Bank). International neobanks like Revolut, ZEN.COM, and European Merchant Bank | EMBank are also on the rise. 📶 On the processing front, Worldline leads as the top payment processor in the Baltics, holding the largest market share in the region. Paynt offers advanced omni-channel payment solutions, including an acquiring-as-a-service platform for businesses. Transact Pro also operates as a payment processor and online card payment gateway provider. Download the full report here: https://bit.ly/4fsDsCo

Cross-border payments are blockchain’s killer use case. Our report shows how fintechs can win market share with real-time, affordable payments. Learn how fintechs can expand their reach, boost revenue, and offer 24/7 payouts with Ripple Payments.

Register today http://bit.ly/3CHhfSU for our monthly Regulator Working Group on the #DigitalEuro with Reinis Vecbaštiks, Chief Payments and Financial Markets at Latvijas Banka (The Central Bank of Latvia). http://bit.ly/3CHhfSU Speaking of Latvia... “Latvia is steadily emerging as a global fintech hub, propelled by continuous improvements of the regulatory framework and introduction of new supporting tools for fintech ventures." This is the key takeaway from Andris Liepins and Valters Sniedzītis, CAMS, respectively Partner and Senior Manager at Deloitte, regarding the Latvian payments ecosystem, as featured in our whitepaper, “Key Players in the EU Payments Landscape 2024 ": https://lnkd.in/dVYy5rTP 💳 Nestled in the heart of the Baltic region, Latvia is emerging as a European fintech leader, transitioning from a cash-dominated market to a cashless society, with 77% of transactions being non-cash in 2023. The shift is supported by widespread adoption of contactless cards and government initiatives like low-cost bank accounts, financial literacy programs, and expanded payment infrastructure. 📲 Cards, and more particularly debit cards are the most used payment method in Latvia. However, alternative payments like digital wallets and bank transfers are gaining in popularity. Key players include Paysera, Monese & Mobilly. 🏦 Latvia's banking market is dominated by Scandinavian-owned Swedbank and SEB Latvija, which hold nearly 60% market share. Local player Citadele banka ranks third (23%), offering traditional banking, wealth management, and as the sole issuer of American Express cards. Other notable banks include Luminor Lietuva, AS Rietumu Banka, and BluOr Bank (formerly BlueOrange Bank). International neobanks like Revolut, ZEN.COM, and European Merchant Bank | EMBank are also on the rise. 📶 On the processing front, Worldline leads as the top payment processor in the Baltics, holding the largest market share in the region. Paynt offers advanced omni-channel payment solutions, including an acquiring-as-a-service platform for businesses. Transact Pro also operates as a payment processor and online card payment gateway provider. Download the full report here: https://bit.ly/4fsDsCo

Register today http://bit.ly/3CHhfSU for our monthly Regulator Working Group on the #DigitalEuro with Reinis Vecbaštiks, Chief Payments and Financial Markets at Latvijas Banka (The Central Bank of Latvia). http://bit.ly/3CHhfSU Speaking of Latvia... “Latvia is steadily emerging as a global fintech hub, propelled by continuous improvements of the regulatory framework and introduction of new supporting tools for fintech ventures." This is the key takeaway from Andris Liepins and Valters Sniedzītis, CAMS, respectively Partner and Senior Manager at Deloitte, regarding the Latvian payments ecosystem, as featured in our whitepaper, “Key Players in the EU Payments Landscape 2024 ": https://lnkd.in/dVYy5rTP 💳 Nestled in the heart of the Baltic region, Latvia is emerging as a European fintech leader, transitioning from a cash-dominated market to a cashless society, with 77% of transactions being non-cash in 2023. The shift is supported by widespread adoption of contactless cards and government initiatives like low-cost bank accounts, financial literacy programs, and expanded payment infrastructure. 📲 Cards, and more particularly debit cards are the most used payment method in Latvia. However, alternative payments like digital wallets and bank transfers are gaining in popularity. Key players include Paysera, Monese & Mobilly. 🏦 Latvia's banking market is dominated by Scandinavian-owned Swedbank and SEB Latvija, which hold nearly 60% market share. Local player Citadele banka ranks third (23%), offering traditional banking, wealth management, and as the sole issuer of American Express cards. Other notable banks include Luminor Lietuva, AS Rietumu Banka, and BluOr Bank (formerly BlueOrange Bank). International neobanks like Revolut, ZEN.COM, and European Merchant Bank | EMBank are also on the rise. 📶 On the processing front, Worldline leads as the top payment processor in the Baltics, holding the largest market share in the region. Paynt offers advanced omni-channel payment solutions, including an acquiring-as-a-service platform for businesses. Transact Pro also operates as a payment processor and online card payment gateway provider. Download the full report here: https://bit.ly/4fsDsCo