All Payment services articles
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News briefsKlarna cuts 10% of workforce due to changing business climate
Germany’s Manager Magazin reports that Swedish fintech Klarna will lay off about ten percent of its roughly 7,000 employees. The startup, led by co-founder and CEO Sebastian Siemiatkowski, reportedly said that rising inflation and the war in Ukraine had impacted the business climate, making the move necessary. At its last ...
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ArticleE-commerce in Latin America to grow 37 percent by 2021, digital wallets for payment on the rise
According to the Beyond Borders 2021/2022 study by EBANX, a payments company that connects global and local businesses with Latin American consumers, the Latin American digital commerce market is expected to grow 37 percent year-on-year by the end of 2021, with double-digit growth across the region through 2025. Within this, ...
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News briefsSquare acquires Afterpay in $29bn all-stock deal
The American fintech Square has reached an agreement to buy the Australian firm Afterpay in an all-stock deal with an implied value of about $29 billion based on Square’s share price on July 30. Afterpay specializes in buy now, pay later (BNPL) services. The transaction is expected to close in ...
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News briefsContactless card transactions will reach $2.5 trillion in 2021, new research says
The value of global contactless card transactions will reach $2.5 trillion in 2021, up from $1.7 trillion in 2020, and cards will continue to account for the largest share of total transaction value in 2021, at 79 percent, according to a new report from U.K.-based market research firm Juniper Research. ...
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News briefsShopify and Google deepen retail collaboration
Shopify reports that it has expanded its partnership with Google to help merchants of all sizes benefit through improved discovery and a higher-conversion checkout while simplifying the onboarding process for Shopify merchants joining Google. Shop Pay, which Shopify says is the fastest and most secure way to pay online, will ...
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News briefsGerman banks launch unified digital payment service
Banks and savings institutes in Germany are driving forward the standardization of their online payment processes. Since May 5, the institutions will gradually offer customers and retailers a bundled payment service for all aspects of checking accounts. The five major banking associations that make up the Deutsche Kreditwirtschaft (DK) had ...
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News briefs
Shop Pay expands to Facebook and Instagram in the U.S.
Shopify is expanding Shop Pay – the fastest and most secure way to shop online, according to the Canadian e-commerce software company – to all U.S. Shopify merchants selling on Facebook and Instagram. With Shop Pay now available as a fast and secure payment option on Facebook, people also get ...
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News briefs
Payment service Klarna launches bank account in Germany
Klarna is launching consumer bank accounts in Germany, with the aim to provide them with further control of their finances. The launch marks a first for the company and will allow customers to easily track, categorize and analyze all of their everyday spending using the Klarna app. A Klarna bank ...
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News briefsShopify co-founder ranked second most powerful Canadian after Trudeau
Tobias Lütke, co-founder and CEO of Shopify, currently the highest-valued company in Canada, has made it to second place on Maclean’s magazine’s annual “Power List,” which lists the “50 Canadians who are breaking ground, leading the debate and shaping how we think and live.” Lütke is beaten only by Canadian ...
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News briefsKlarna releases pre-Black Friday shopping analyses from the U.S. and Germany
Klarna, the global payments provider and shopping service from Sweden, has released new holiday shopping data that indicates shoppers in the U.S. shifted their share of e-commerce spending towards the leisure, sports & hobby and home & garden categories in the week ahead of Thanksgiving (Nov. 16-22). The leisure, sports ...
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News briefs
U.S. online retailer Backcountry.com introduces Buy Now, Pay Later with Klarna
Klarna, the leading global payment provider and shopping service from Sweden, has teamed up with Backcountry.com, the largest online retailer of premium outdoor sports equipment and apparel in the U.S. and owner of German online outdoor retailer Bergfreunde.de, to offer customers flexible “buy now, pay later” solutions. Backcountry.com customers can ...
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ArticleKlarna becomes the most valuable financial start-up in Europe
Klarna, a Swedish online payment service provider with headquarters in Stockholm, raised $650 million in an equity funding round, which values the whole company $10.65 billion. Klarna claims that the valuation ranks it as the highest-valued private fintech in Europe and the 4th worldwide. The funding round was led by ...
