ADN’co Payments Insight – August 2017

Credit transfer – Progress well underway in Benelux and Northern Europe

• BENELUX – Payconiq buys out Digicash: a way for them to keep consolidating their position on the market of mobile transfers.
• THE NETHERLANDS – The Dutch interbank service Tikkie focusing on mobile-based money transfers just reached one million users.

Payconiq and Digicash are scaling up through joining forces by way of covering three markets. To this respect, they stand out as pioneers and examples for other cross-industry services which remain implanted on their initial markets only. In line with this announcement, Tikkie reported encouraging results for their transfer-based real-time payment service in Benelux.

Northern European markets are still paving the way for likewise services to grow, as is also highlighted by Klarna’s launch of Wavy. Over time, this trend is very likely to cover all European countries.

Players’ strategy – FinTech companies still walking in banking players’ footsteps

• INTERNATIONAL – Klarna rolls out Wavy: a money transfer app relying on Swish, the Swedish real-time transfer infrastructure.

FinTech companies’ ambitions require them to diversify their services, as stressed by Klarna’s move. This player bets on previous buyouts to enhance their range of offers and, once again, aims for an international approach right away.

This launch also complements their recent banking licence authorisation. Their strategy can then be aimed at individual customers as well, while relying on a real-time transfer infrastructure.