Issue #9 - Banking Vice: The Ultimate A2A Use Case
Banking Vice: The ultimate A2A use case
Vendors know that helping banks deliver A2A services will be big business.
Moral implications aside, banking emerging regulatory environments like gaming, cannabis, and crypto accelerates the adoption of A2A payments.
“Sports betting will be a big use case for real-time payments” Pymnts: Online Gaming Places Its Bets On Real Time Payments
Cannabis Science and Technology: US Congress Passes Cannabis SAFE Banking Act
Quote of the Week: “hyper-efficient non-banks are just killing the banks.”
Don’t think for a second it’s limited to the mortgage business:
Yahoo Finance: Square Partners with Plaid on ACH Payment for Merchants
Case Study: Standard Chartered’s exploration of embedded finance for eCommerce
Banks that rely on traditional credit scoring keep ceding business to fintechs and marketplaces doing embedded finance for eCommerce merchants. Standard Chartered is one of a handful of banks that have been investing to carve out a role in the skyrocketing digital commerce space.
SCVentures: SC Ventures backs SOLV in enabling seamless trade and access to finance for small businesses in post-COVID world. The marketplace offers SolvScore, based on transaction, bank, and other data, to bank and non-bank financial services partners.
Standard Chartered: We’ve set up a new venture in next generation payments with Assembly Payments
[Disclosure: I’m an advisor to Standard Chartered’s corporate venture fund]
Funding, M&A and IPOs
Boston Globe: Boston payments firm Flywire raises $250 million in IPO
Startup Lanes: Paytm to launch India’s biggest IPO ever at $3B
American Banker: Why U.S. is getting on board with global standard for payments
Shameless Self Promotion:
I’ll be leading a panel on “Value of Data > Value of Moving Money” of payments entrepreneurs and VCs at Payments Summit on June 3rd:
In the last year, the market value of innovative payments platforms like PayPal, Square, and Stripe skyrocketed past traditional players, and in Q1 2021 alone $6B of venture capital was invested in upstarts intent on reshaping the payment industry. This conversation with entrepreneurs and VCs will highlight why data, automation, and embedded finance are the keys to the next trillion-dollar opportunity in payments.