| Oct 19: Payments NEXT newsletter: Gen Z banks, mobile fintech, Paytm Mall profits, fulfillment facts, Amazon Prime, more…
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| The global payments news is just about as busy as the impeachment proceedings in the US and we’ve got payments news highlights you need to know. Lightico research looks at what Gen Z wants from their bank and it’s way more digital than their Dad’s bank. Juniper Research says financial services in emerging markets will be mobile and will grow 70% by 2024. India’s Paytm Mall expects to be profitable within the year, a real achievement for the under three-year-old e-commerce operation. We’ve also got a list of 10 shocking e-commerce fulfillment facts. Check out the news roundup below as well.
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| Research: What Gen Z wants is not their father’s bank
Let’s start with what Gen Z and younger consumers want from their banks. They want digital, mobile, and instant banking services. In other words, not their dad’s bank. What they’ve got right now from an entrenched banking system is too much paperwork, too many off-line interactions, and a lack of digital banking services that meet their needs and expectations. Read more… |
| Emerging market mobile financial services will grow 70% by 2024
So how big is the mobile financial services market in emerging markets? According to a new study from Juniper Research, the mobile financial services market will be worth more than $1 trillion by 2024, up 70% from an estimated value of $580 billion in 2019. After operating in Africa and several other developing countries for more than 10 years, mobile money services typically include familiar basic banking functions like merchant payments, savings, and remittances. Read more… |
| | India’s Paytm Mall sees profitability on the horizon
As the critical Festival shopping season begins, India’s Paytm Mall, the e-commerce subsidiary of payments and financial services company Paytm, is getting closer to profitability after several years of losses typical for a startup in the e-commerce business. “Paytm Mall business is close to break-even, USD 3 million EBIDTA loss a month and USD 1.2-1.3 billion run rate. In a day, we do 275,000-300,000. In festive season, this peaks to half a million orders a day, double of the average day,” founder Vijay Shekhar Sharma said. Read more... |
| Here are 10 e-commerce order fulfillment stats that will shock you
If you’re like most e-commerce and online sellers, online shopping cart abandonment may be causing you to lose between 60% and 80% of potential sales in addition to other problems caused by fulfillment order challenges. Here are 10 e-commerce shopping cart and order fulfillment stats that will shock you. What are you doing to make your fulfillment frictionless? Read more… |
| Amazon just quietly made a big change to Amazon Prime, and some customers will be very happyOn Wednesday, I walked in the rain to CVS and bought a package of razors. Then I headed to the post office and asked the clerk what it would cost to send them overnight to my house a mile away. (Answer: $25.50.) I actually needed the razors, so I wasn't really going to send them anywhere. But I was curious what it would cost, after reflecting on a very big change that Amazon has apparently made to Amazon Prime in recent weeks -- all without saying a word about it. Read more… |
| | Oct 18 Global payments news roundup
In the global news roundup, Inc highlights a quiet change to Amazon Prime that could let you order next day delivery of small, inexpensive items. Alibaba and Mail.ru announce a Russian e-commerce partnership that should be formidable. Also, in Russia, e-commerce marketplace Wildberries is planning to expand into the EU through Slovakia. Retail Wire checks in on frictionless checkouts at several US Ahold Delahaize grocery stores. RS2 launches US Payment-as-a-Service with embedded payments capability for developers. Finally, MoreFrom partners with Utrust to enable cryptocurrency payments for its high-tech products and services. After all, that news, it’s time for a weekend break. Enjoy yours. Read more… |
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