Credit News in Brief - March 2019
- INSTALMENTS – PayPlug Enters the Game
The French start-up PayPlug (bought out in the end of 2016 by BPCE) launches an instalment option for merchants. This solution lets them split their customers’ transactions in 2, 3 or 4 payments. Merchants also set maximum eligible amounts.
This solution is already featured by PrestaShop, and should soon be added by Magento.
- SECURITY – PayU About to Buy out Wibmo
The PSP PayU further focuses on the consumer lending market, and is buying the Indian processor Wibmo. Among other services, this player specialises in securing payment transactions using 3-D Secure.
Transaction amount: $60M
Perspective: Last year, PayU also bought out Zooz: Israeli FinTech focusing on international payments.
- CARDS – 3 Credit Cards for Sephora in the US
3 cards announced: A private-label card (Sephora Credit Card) and two payment cards (Visa and Visa Signature).
Scheduled launch: spring 2019
Perspective: These cards will include loyalty programmes by Sephora and by Visa (for the payment card versions).
- PAYMENT – Klarna Launches an Open-Banking Offer
Klarna launches their Open-banking platform streamlining accesses to over 4,300 banks on 14 EU markets through a single interface and via their XS2A account access API. This platform covers information (AISP) and payment initiation services (PISP).
Perspective: Klarna further aims for disintermediating traditional industry players. Ever since they launched their instalment solution for merchants and in line with their acquisition of Sofort (back in 2013), this FinTech kept reaching further out to address the entire payment value chain. They were granted a banking licence in 2017, enabling them to process their own payment flows. They now provide access to their APIs to streamline payment initiation from their customers’ accounts, and they also make room for integrating instalment options in new processes.