The Payments Power 50 celebrates a dynamic mix of established players and rising disruptors, each demonstrating bold leadership, technological advancement, and industry-wide influence. Joining them are 10 standout industry experts, whose contributions have shaped the evolution of payments.
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Introducing the Payments Power 50: A game-changer for scaling fintechs A strategic partnership driving innovation
The payments industry is evolving at an unprecedented pace, with fintechs and industry leaders driving transformative innovation across global markets. To support this dynamic sector, The Payments Power 50 is launching as an exclusive 12-month programme designed to propel fintech companies towards domestic and international growth. Each year, 40 trailblazing companies and 10 influential leaders in payments will be selected to join an elite membership group, gaining access to an unparalleled platform for brand elevation, strategic connections, investment support and talent development. Through a powerful ecosystem of exclusive activities, partner collaborations and high-profile events, The Payments Power 50 delivers real impact where it matters most.
companies and exceptional influencers from around the world,” says Jason Williams, CEO of The Power 50. “Being included in The Power 50 is more than just receiving an award; it’s a recognition of the contributions individuals and companies are making to drive innovation and growth in the sector. It also serves as a valuable recommendation tool.”
This pioneering initiative is brought to life through a strategic collaboration between The Power 50 and Payments Cards & Mobile, the leading market intelligence platform for global payments news, research and consulting. Leveraging the combined expertise and extensive networks of both organisations, The Payments Power 50 creates an exclusive hub for collaboration, knowledge sharing and business acceleration. “This initiative is about more than just recognition - it’s about empowering fintech leaders with the resources, relationships and visibility they need to thrive,” says Alex Rolfe, CEO of Payments Cards & Mobile. “Every year, The Power 50 highlights the best of the fintech community, putting a spotlight on innovative and brilliant
As The Payments Power 50 prepares to launch, the spotlight is set on the industry’s most forward-thinking companies and individuals. This is more than an award — it’s an exclusive gateway to the future of fintech.
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CONTRIBUTORS' INDEX
OUR PARTNERS Payments Cards & Mobile Payments Association
THE PAYTECHS Airwallex
Napier AI OpenPayd PayFuture
36 32 24 42 15 18 46 40 45 45 18 31 28 50 15 36 24
5 7 8
15 16
Aevi
Payments Canada
Boku
40 20 22 20
Paymentology
CC Group
10 12
BPC
Paynetics Pay.com PingPong
MPE
BR-DGE
Brite Payments
THE FINFLUENCERS David Birch
Centiglobe 34 Compass Plus Technologies 38 Currency Stream 20 DECTA 36 DIMOCO 31 Ecommpay 26 Episode Six 31 FIS 40 Giesecke+Devrient 45 Griffin 28 Guavapay 50 Inform 34 Intix 28 IXOPAY 50 Kani 24 Lemon 18 MeaWallet 34
Plaid PPRO
19
Laura McCracken
20 25 29 30 35 36 41 44 48
Raiffeisen Bank Int.
Neira Jones Stuart Neal Dan Lowther
Rivero
Tink
TSYS Unzer
Alex Rolfe
Tony Craddock Martina Weimert
Verve International
Worldpay
David Parker
Yuno
Miranda McLean
Published by THE POWER 50 LTD l 41 Luke Street, London EC2A 4D, United Kindom
Jason Williams Founder & Managing Director
Alex Rolfe Managing Director & Publisher, Payments Cards & Mobile
Wendy Sanders Head of Business Development Design & Production www.yorkshirecreativemedia.co.uk Contact hello@thepower50.com Tel +44 (0)7563 879689 Web www.thepower50.com Images www.istockphoto.com Printed by Park Communications Ltd, London Chris Swales Art Director
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All Rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, photocopying or otherwise, without prior permission of the publisher and copyright owner. While every effort has been made to ensure the accuracy of the information in this publication, the publisher accepts no responsibility for errors or omissions. The products and services advertised are those of individual authors and are not necessarily endorsed by or connected with the publisher. The opinions expressed in the articles within this publication are those of individual authors and not necessarily those of the publisher.
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THE FUTURE OF PAYMENTS: WHAT TO EXPECT IN
As digital transformation accelerates across the financial sector, the payments landscape in 2025 will continue evolving at an unprecedented pace. From CBDCs to biometric authentication and AI-driven fraud prevention, technological advancements and regulatory shifts will shape the next phase of payments. We explore the key trends that will define the future of payments in 2025. 1 The rise of central bank digital currencies (CBDCs) From 2025, CBDCs will move from pilot programs to adoption. The European Central Bank (ECB) is advancing its digital euro initiative, while countries such as China, Sweden and the UK are accelerating their CBDC frameworks. The goal is to provide a stable, state-backed digital alternative to cash, increasing financial inclusion while reducing reliance on private stablecoins. However, adoption will depend on consumer confidence, interoperability and privacy safeguards. 2 Instant payments becoming the norm The demand for real-time transactions is pushing financial institutions and fintechs to prioritise instant payment systems. The EU’s Instant Payments Regulation mandates that banks must offer real-time euro payments by 2025, while similar initiatives are gaining momentum in the US and Asia. Businesses and consumers alike will benefit from seamless, low-cost and immediate transactions, driving efficiency and economic activity. 3 The evolution of embedded finance The concept of embedded finance is set to expand significantly in 2025. Companies across sectors, from
e-commerce to ride-hailing services, will incorporate payment solutions directly into their ecosystems. This shift reduces friction for consumers and enhances engagement for businesses, leading to higher conversion rates and customer loyalty. 4 AI and machine learning in fraud prevention With payments increasingly digital, fraud attempts are rising. AI-driven security solutions will become the backbone of fraud prevention, using real-time data analysis to detect anomalies and prevent fraudulent transactions before they occur. Financial institutions will deploy multi- layered security strategies, incorporating biometric authentication, behavioural analytics and blockchain-based identity verification to counter emerging threats. 5 Biometric authentication gains traction Passwords and PINs are becoming obsolete as biometric authentication gains mainstream acceptance. In 2025, more financial transactions will be authenticated using biometrics, improving security while enhancing user experience. The rise of biometric payments will also contribute to frictionless transactions in retail and e-commerce settings. 6 The role of cryptocurrencies in everyday payments While cryptocurrencies remain volatile, stablecoins and blockchain-based payments will continue to gain traction.
Major payment networks and financial institutions are exploring crypto- enabled transactions to facilitate cross-border payments and reduce costs. Regulatory clarity, particularly in regions like the EU and the US, will determine the extent to which crypto becomes a mainstream payment method in 2025. 7 Sustainability in payments As ESG considerations shape financial policies, sustainability in payments will remain in focus. From carbon-neutral transactions to green payment solutions, financial institutions will prioritise eco-friendly initiatives. Consumers are becoming more environmentally conscious, and businesses that align their payment strategies with sustainability goals will gain a competitive advantage. A DIGITAL-FIRST, SECURE AND SEAMLESS FUTURE The payments landscape in 2025 will be defined by digital-first, highly secure and seamless transactions. Innovations in CBDCs, AI-driven fraud prevention and biometric authentication will redefine how consumers and businesses transact. As financial institutions and fintechs continue to adapt, the key to success will be balancing convenience with security while fostering trust in emerging technologies. www.paymentscardsandmobile.com
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The Payments Association’s three key policy campaigns for 2025 Beyond these campaigns
The Payments Association (TPA) remains at the forefront of shaping policies that drive innovation, security and inclusion in payments. This year, we are championing three key campaigns that will shape the regulatory and operational landscape for payments in the UK. 1 Strengthening APP fraud rules Fraud prevention remains a top priority, particularly Authorised Push Payment (APP) fraud rules. Our successful lobbying efforts helped bring about a crucial regulatory shift reducing the proposed reimbursement threshold from £415,000 to £85,000. While this is progress, we continue to push for further change beyond the lowering of the threshold. Two key issues require urgent attention: n Consumer standard of care and the definition of gross negligence: This must be clearly defined to protect consumers while ensuring businesses are not unfairly penalised. n The role of social media in fraud prevention: We were disappointed that the Labour Party, once in power, failed to act on its promise to hold social media platforms accountable in preventing fraud. We will continue pushing for change in this space. 2 Digitalising payment rails and regulating stablecoins TPA has long advocated modernising the UK’s financial infrastructure, and 2025 is a critical year for this transformation. Our second campaign focuses on ensuring the UK leads the way in digital payment rails
and the regulation of stablecoins and crypto assets. The EU’s MiCA (Markets in Crypto- Assets) framework has set a precedent, but it doesn’t address issues adequately and will stifle innovation. As an independent jurisdiction, the UK can develop a balanced regulatory approach that fosters innovation while ensuring stability and interoperability with global markets. The recent policy moves in the United States highlight the urgency of acting now. Stablecoins represent the next generation of digital money, moving beyond traditional e-money by enabling greater programmability of payments. Ensuring the UK develops a robust framework for stablecoins will be vital for its leadership in financial technology. 3 Tackling financial inclusion Financial inclusion has been a cornerstone of our work, and I’m pleased that the government is set to launch its long-awaited Financial Inclusion Strategy. Despite significant progress, over one million people in the UK remain underbanked, according to FCA data. Our focus is on ensuring that fintech and payment providers continue to drive accessibility while balancing the needs of those who rely on cash-based transactions. As the economy becomes increasingly digital, we must guarantee no one is left behind. For instance, we want financial education to become mandatory in school to improve financial responsibility. TPA will continue working with policymakers to create solutions prioritising inclusion and innovation.
In addition to these three core campaigns, we remain active in:
n Cultural risk shift: Promoting responsible risk-taking by fostering an environment encouraging accountability and informed decision-making among consumers. n Open banking developments: Ensuring new structures and governance changes support competition and innovation. n Safeguarding rules: Which have become increasingly restrictive, pushing businesses to consider relocating outside the UK, a trend that must be reversed. n The E-Money Review: Helping shape policies that allow payments
institutions to thrive in a rapidly evolving financial ecosystem.
A defining year for payments 2025 presents a unique opportunity to shape a future-proof payments landscape, as set out by the National Payments Vision (NPV). With these three campaigns – strengthening fraud rules, modernising digital payments, and improving financial inclusion – we are committed to ensuring TPA leads the way in advocating for a fair, secure and innovative payments ecosystem, supporting the government’s objective to deliver growth. https://thepaymentsassociation.org
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CANADIAN PAYMENT PULSE
of payment volume, followed by cash at 11 per cent, online transfer at six per cent, and prepaid, ABM and cheque each at two per cent. Prepaid cards showed the greatest transaction value growth among cards at 10 per cent. Canadians reported using prepaid cards to make payments quickly, to receive discounts/loyalty rewards and to use their own funds. The average prepaid transaction value was $69. Open-loop, reloadable prepaid cards are popular among younger consumers because many of them feel that prepaid cards represent a more economical and effective way to manage their spending than credit or debit cards. Cash transaction volume increased by 15 per cent, while transaction value increased by four per cent. The average cash transaction value was $26, slightly lower than the previous year at $29. Almost half of all Canadians (49 per cent) frequently used cash. Many people still rely heavily on cash, particularly the elderly, the unbanked and those who use cash for low-value payments. Online transfers (such as Interac e-Transfer and PayPal) volume and value grew by 14 per cent and 20 per cent, respectively, and continued to be the fastest-growing payment type with past five-year volume growth of 136 per cent and value growth of 160 per cent. For the first time ever, we saw online transfer usage surpass cheques based on volume for business payments. Thirteen per cent of Canadians used smart devices or social media for placing an online order or initiating a payment in a given month (up slightly from 11 per cent last year). The following types of smart devices or social media were used for online purchases in a given month: Alexa/Amazon (three per cent), Google Home (three per cent), Instagram (three
per cent), Facebook (three per cent) and Apple Siri (two per cent). Overall, Canadians were generally satisfied with their payment experience buying online. Over half of all consumers (56 per cent) were satisfied with the time it took to execute the payment through a website or payment app (up from 50 per cent last year). However, over one in ten Canadians (13 per cent) experienced not being able to use their preferred payment method while shopping online (up slightly from 11 per cent last year). Having a diverse selection of payment options is important in attracting and retaining customers. If you’re a business looking to learn more about the payment preferences and behaviours of your customers, I encourage you to register for The Payments Canada SUMMIT, an annual event that brings together innovators, leaders and experts from around the world to discuss the future of payments.
Over 21 billion retail payment transactions were made in Canada, totalling $11.9trillion in 2023. That’s a lot of payments and money spent by Canadians. Here’s a closer look at the retail payment options that consumers are using. These trends are important for businesses to understand to inform their decisions on how to send and receive payments, ensuring they meet their current and prospective customer’s payment needs and preferences. According to Payments Canada’s 2024 Canadian Payment Methods and Trends report, Canadian e-commerce – using web-based storefronts and applications via computers or mobile devices to obtain goods and services from merchants – grew to $71.6 billion, or 546 million transactions. The top categories of online purchases included clothing, restaurants/ fast food, groceries, electronics and personal beauty products. Close to three in five Canadians (57 per cent) made an online purchase in a given month (up from 55 per cent in 2022). Credit cards continued to be the preferred choice for e-commerce transactions at 57 per cent followed by PayPal and debit cards at 18 per cent each. When looking at all payments, credit cards (33 per cent) and debit cards (30 per cent), made up 63 per cent of total payment volume. Electronic funds transfer (EFT) represented 15 per cent Stephen Yun , senior analyst, market insights at Payments Canada discusses which retail payment trends to keep an eye on in Canada
AT A GLANCE
Stephen’s areas of focus include the Consumer Payment Methods and Trends and Payment Behaviour Tracking studies
and leveraging research insights to create a consumer/business payment narrative and drive business action for his business partners. Stephen has more than 20 years of experience leading marketing and customer experience research. He holds MBA and BBA degrees from the Schulich School of Business (York University) specialising in marketing and finance.
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WHY FINTECHS NEED TO TELL BETTER STORIES
It’s a fact: brands that tell better stories sell more, fetch higher multiples, and secure larger valuations. 55 per cent of consumers are more likely to buy from a brand if they love its story (Headstream). Meanwhile, research from McKinsey suggests that companies with strong brand narratives can achieve valuation premiums of up to 20 per cent.
The demand for innovation remains strong, but fintechs are failing to articulate their value in a way that resonates with consumers and investors alike. Too often, they get lost in technical jargon and financial metrics, neglecting the power of a compelling narrative. Let’s take Klarna as an example. The Swedish buy now, pay later giant has been one of the most successful fintech brands, and much of its success can be attributed to its storytelling. CEO Sebastian Siemiatkowski has been heavily influenced by master storytellers like Richard Branson and IKEA founder Ingvar Kamprad. He understands how to capture attention. His partner is a digital marketing expert, and he is a charismatic, articulate leader – qualities that matter when shaping a company’s public image. The fintechs that will truly thrive will be those that can capture attention, inspire confidence, and engage their audience with compelling narratives
another buzzworthy topic that ensures Klarna stays relevant in fintech conversations. These narratives generate headlines, attract investors, and keep Klarna top of mind.. But here’s the catch: are these just stories? Klarna has had to downsize, cutting jobs in what was likely a necessary move to improve profitability ahead of a potential IPO after bloating during the fintech bubble. Its AI push might be more about cost-cutting than innovation. And its crypto announcement was so vague that it left many questioning whether Klarna had a meaningful strategy in that space at all. It doesn’t matter as much as the story does. The fintech market will bounce back. As interest rates decline, consumer spending will increase, investors will become more willing to deploy capital, and public markets will once again court major fintech players. But when that moment comes, it won’t be enough to have a strong product or even solid financials. The fintechs that will truly thrive will be those that can capture attention, inspire confidence,
WHAT DOES THIS MEAN FOR FINTECHS?
The fintech industry has taken a beating in the last few years. Once the darlings of investors and the innovation economy, fintech companies are now facing a harsh reality. The market is congested, regulatory scrutiny is increasing, and the days of prioritising hypergrowth over profitability are over. Depressed valuations have led to an influx of mergers and acquisitions as weaker players struggle to survive. In short, fintech has a PR problem. But here’s the thing: fintech still has enormous growth potential. Global fintech revenue is projected to grow at a CAGR of 16.8 per cent, reaching $1.5trillion by 2030, according to Boston Consulting Group. Look at Nubank in Brazil, which has amassed over 90 million customers, making it one of the world’s largest digital banks. In the UK, neo-banks like Revolut and Monzo continue to grow despite economic challenges.
and engage their audience with compelling narratives. Fintechs need to tell better stories. https://ccgrouppr.com
Klarna’s storytelling prowess is evident in its recent narratives.
Siemiatkowski has positioned Klarna as an ‘AI-first’ company, a hot topic that aligns with the broader discourse on artificial intelligence and automation. He’s also publicly embraced crypto,
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How do you influence fintech buyers? The fintech market is crowded and complex. What makes you stand out from the crowd?
CCGroup is leading fintech marketing communications agency that has worked with ClearBank, Mollie, Revolut & Visa. This report provides data on how decision makers at financial institutions identify and select technology vendors at different stages in the sales funnel.
Scan the QR code to download:
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THE FUTURE OF MERCHANT PAYMENTS: INNOVATION, CHALLENGES AND OPPORTUNITIES
The role of mpe and industry leaders in driving innovation The Merchant Payments Ecosystem (mpe) conference continues to be a key platform for shaping the future of payments. Bringing together merchants, acquirers, fintechs, and payment innovators, mpe provides a unique space for discussion, collaboration and strategic insight into the evolving payments landscape. Innovation in payments doesn’t happen in isolation – it’s driven by visionary leaders and disruptive thinkers. That’s where the Payments Power 50 comes in. Unveiled at mpe 2025, the Payments Power 50 highlights those pushing boundaries and transforming payments. At the heart of this transformation are the visionary leaders and companies driving meaningful change. Recognising these contributions, the Payments Power 50, produced in partnership with Payments Cards & Mobile, celebrates the most influential figures in payments, fintech, AI, fraud prevention, and identity verification. As we look ahead to the next 12 months, the payments industry is poised for continued innovation, new challenges, and exciting opportunities. We can’t wait to see how leaders, businesses, and emerging technologies will shape the next phase of payments evolution. Join us in driving the future of payments forward!
The payments industry is undergoing a major transformation, shaped by AI-driven automation, real-time transactions, open banking and evolving regulations. As businesses strive to meet consumer expectations for seamless, secure and instant payments, staying ahead of these trends is crucial for both merchants and payment providers. Key trends shaping merchant payments in 2025/26 AI: Transforming payments and fraud prevention Artificial intelligence is revolutionising payments by enhancing fraud detection, optimising payment flows, and personalising customer experiences. AI-driven tools are helping businesses reduce fraud losses, improve transaction efficiency, and modernise payment architectures – ensuring payments are smarter, faster and more secure. Real-time and A2A payments: Moving beyond cards The shift toward real-time and account-to-account (A2A) payments is gaining momentum as an efficient, cost-effective alternative to traditional card payments. These methods provide merchants with better cash flow control and lower processing fees, though challenges remain in scaling adoption across markets. Open banking and embedded finance: Expanding payment possibilities With PSD3 and API-driven business models emerging, open banking is reshaping the payments ecosystem.
Businesses are exploring how to leverage open banking for seamless account-based transactions, improved authentication, and better financial insights, creating new opportunities for innovation and customer engagement. Challenges facing merchants and payment providers Regulatory compliance and evolving standards With PSD3, the Payment Services Regulation (PSR), the Consumer Credit Directive and the Digital Euro on the horizon, businesses must adapt quickly to new compliance requirements while ensuring seamless operations. Finding the right balance between regulatory compliance and innovation will be key. Fraud and chargebacks: Strengthening security measures As fraud threats become more sophisticated, merchants and PSPs must implement stronger security measures without compromising the customer experience. AI-powered fraud detection and enhanced authentication strategies will be critical
to protecting businesses against fraud and reducing chargebacks.
Payment orchestration: Streamlining the checkout experience For merchants operating across multiple markets, managing different payment methods and providers is becoming increasingly complex. Payment orchestration solutions are helping businesses automate routing, optimise approval rates, and lower processing costs – making global payments more efficient and cost-effective.
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save the date!
be part of the Europe’s largest merchant payments conference
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One platform , inf i nite possibilities
Enableanym erchantto oferavarietyofpaym ent m ethodsthrough oneunif ied acquiring platform
com passplustechnologies.com
Acquiring solutions|Paym entgateway|BNPL|Risk& fraud m anagem ent|Loyalty& rewards
Paynetics is a provider of embedded finance solutions, enabling businesses to seamlessly integrate payments within their products. It is dual-regulated in the EU and the UK and principal members of Mastercard, VISA, UnionPay International, SWIFT and SEPA.
Paynetics offers comprehensive
Its award-winning technology makes Paynetics easy to work with while offering some of the most sophisticated digital solutions based
embedded finance solutions to its B2B and B2B2C customers safely in one place, including card acceptance and issuance, payment accounts and transfers, delivered through APIs, SDKs or full-service white labels.
upon tokenisation such as Apple Pay and Google Pay. l Find more information about Paynetics at www.paynetics.digital LinkedIn: www.linkedin.com/company/paynetics
X: @PayneticsAD
Established in 2019 and headquartered in Switzerland, Rivero is a fast-growing European company and a Visa Fintech Partner specialising in streamlining payment operations within the highly regulated payments industry. It focuses on offering unique SaaS solutions for dispute management, and payment scheme compliance.
Rivero’s flagship products, Kajo and Amiko, set it apart in the industry. Kajo is a solution for payment scheme compliance, minimising risks and efforts for payment network licensees. Amiko revolutionises fraud recovery and dispute management processes by digitalising them, thus aiding issuing banks in efficient management and enhancing consumer protection.
Web: https://rivero.tech LinkedIn: www.linkedin.com/company/rivero
Verve International is Africa’s first and largest domestic payments scheme, wholly owned by Interswitch Group, Africa’s pioneer fintech unicorn. As a pan-African payment scheme, Verve provides EMV debit, credit and contactless cards, cardless products and solutions to financial institutions, individuals, private organisations and government institutions across Africa. As Africa’s premier and leading domestic payment cards scheme, Verve remains focused on addressing peculiar market challenges in Africa by providing secure and cost-
More information about Verve
effective payment options for individuals and businesses to exchange value, offering both virtual and physical cards that facilitate payment for an increasing number of international services in local currency. In the last three years, Verve has made significant progress in this regard, underscoring a strong resolve to continue to drive relevant partnerships that provide its users in Africa convenient opportunities to access global services in local denominations.
International can be found at https://myverveworld.com and www.interswitchgroup.com
ALGORITHMIC AISLES BRINGING THE SIMPLICITY OF E-COMMERCE TO THE PHYSICAL STORES Sarah Koch , director of marketing and communications at Aevi , explores the key aspects of online shopping and how to replicate them in physical retail
Why should in-store shopping feel like a chore when online is so convenient? E-commerce has raised consumer expectations with clearer layouts, endless choices, fast checkouts, and personalised experiences. As digital payments expand and shopping habits evolve, how can we bring these advantages in-store? You are browsing a charming vintage shop for a last-minute gift. The store’s atmosphere envelops you; shelves are brimming with one-of-a-kind finds. Perhaps you cradle a doll, smell a scented candle, you get lost in memory lane then you find it, hidden in a corner: the perfect gift. You make your way to
the till, only to be met by the startling sight of a long queue. Why is it moving so slowly? Finally, it’s your turn, but then, the ‘Cash Only’ sign looms, almost as retro as the shop itself, and a stark barrier in a digital world. Customers value the control, flexibility, and straightforward self-service they find online, but what constitutes a positive payment experience when shopping in a physical store? BEYOND THE PARADOX OF CHOICE: MORE PAYMENT OPTIONS MEANS BETTER SHOPPING Payment choice is essential: online stores offer a variety of payment
methods, from traditional cards to digital currencies, however, physical stores can match this degree of choice by enabling various payment options. Digital wallets are prevalent among younger customers, Gen Z in particular. To serve these demographics, a store should accept mobile payments like Google Pay or Apple Pay. An all-in-one POS system is the most powerful option for accepting multiple payment types. As the name suggests, this system allows you to combine all components of a POS system into a single device. Digital wallets aren’t the only option: BNPL (buy now, pay later) has been popularised by e-commerce and it has been gaining traction in physical retail
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A E V I
‘DID YOU FIND EVERYTHING OK?’: HOW CONNECTED COMMERCE MAKES EVERY TOUCHPOINT COUNT Connected commerce unifies online and offline channels, creating a cohesive customer experience. This includes implementing features such as buy- online-pickup-in-store (BOPIS) and personalised loyalty programmes. An omnichannel approach can replicate the ease of e-shopping in store. There’s just no replacing the in-store experience, but what if we could eliminate familiar roadblocks, making in-person shopping as easy as online shopping? While the benefits of in-person payment orchestration are more than evident, businesses need to cover their bases and ensure the following:
driven, in part, by younger customers. Top providers include Klarna, Afterpay, Affirm, and Walmart’s One. Multiple banks and PSPs also offer BNPL options for instance JPMorgan Chase, CommBank, Monzo, PayPal, HSBC and Citi. These innovative, financially flexible payment approaches come with challenges as well as opportunities – particularly when it comes to regtech and compliance. As the BNPL market becomes increasingly competitive, retailers can mitigate risks by adopting payment orchestration. By integrating BNPL into a unified system they can access real-time insights and ensure compliance, so physical stores are up-to-date with the evolving landscape of alternative financing solutions. ‘WELCOME TO THE STORE, HERE’S WHAT YOU ARE LOOKING FOR’: HOW AI ANTICIPATES YOUR NEEDS Data provides invaluable insights into customer behaviour and preferences. By analysing purchase history, behaviour and personal preferences, it’s possible to provide a bespoke transaction experience. Online stores consistently leverage their customer data to personalise offers as well as optimise operations, and the same level of accuracy and personalisation can be achieved in store. Looking ahead, AI will be instrumental in enhancing recommendation systems and streamlining checkout processes with the potential to transform in-person retail as we know it. AI can analyse huge volumes of customer data to: n Give personalised product recommendations n Optimise inventory through demand forecasting n Detect and prevent fraudulent transactions in real-time n Provide instant customer support through chatbots AI is making all in-person transactions more tailored and data-backed. With such potential payment infrastructure providers must focus on how to best integrate it into their platforms.
n Remove complexity by partnering with experienced providers to ensure a smooth integration process for new payment systems n Think about the bottom-line and carefully evaluate the costs and benefits of different solutions to determine the best fit. ‘LET’S WRAP THIS UP AT THE COUNTER!’ There’s just no replacing the in-store experience, but what if we could eliminate familiar roadblocks, making in-person shopping as easy
as online shopping? In-person payment orchestration is the technological answer.
By adopting in-person payment orchestration, leveraging data and through AI, physical stores can create shopping experiences that rival e-commerce. This evolution improves customer satisfaction allowing brick-and-mortar retailers to reach sustained business growth. Aevi’s in-person payment orchestration platform can offer digital flexibility, payment choice, and access to data to introduce the simplicity of e-commerce to physical shopping.
n Implement robust security measures to prevent data breaches
and ensure compliance with privacy regulations to protect their customers’ data
WHO WE ARE
COMPANY: Aevi FOUNDED: 2015 CATEGORY: AT A GLANCE Financial Services KEY PERSONNEL: Sarah Koch, Director of Marketing and
We are an in-person payment orchestration provider that enables the transformation of devices at the POS into easily manageable digital endpoints. We introduce the simplicity of e-commerce to the physical shopping experience. Our value lies in allowing our clients to grow and upgrade their business propositions through flexible operations, harmonised
Communications (above) HEAD OFFICE: Germany LOCAL PRESENCE IN: Germany, UK and the Czech Republic CONTACT: aevi.com/get-in-touch WEBSITE: www.aevi.com LINKEDIN: company/aevi-int
omnichannel and holistic processing capabilities.
WHAT WE DO Creating an immersive payment experience that caters to every customers' needs
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is a cloud-based payments orchestration infrastructure, providing a central hub to optimise, route and manage global payments with cutting-edge
processing power. Its gateway offers precise performance insights with full pricing transparency and is fully customisable by currency, country, date and time. Built with zero technical debt, Pay.com enables online merchants to accelerate growth and ensure compliance, while enhancing reliability and maximising transaction success rates.
The company was launched in 2020 and is currently expanding with five global offices offering top-tier customer service.
https://pay.com/
www.linkedin.com/company/pay-com-official
Lemon is a SaaS finance product that seamlessly connects financing to SaaS sales teams. Lemon enables SaaS companies to offer their discounted annual pricing on a financed model, saving SMBs up to 50 per cent on their SaaS subscriptions. Lemon also enables the SaaS vendor to get paid upfront, instantly, improving their cashflow and reducing the churn risk that is always carried with monthly subscriptions. Built by SMB founders Matt Bird and James Lewis for SMB founders.
Web: https://lemon.co
X: @spendlemon
LinkedIn: www.linkedin.com/company/spendlemon
Airwallex is a global financial platform for modern businesses, offering trusted solutions to manage everything from payments, treasury and spend management to embedded finance. With its proprietary infrastructure, Airwallex takes the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders. Proudly founded in Melbourne, Airwallex supports over 150,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN and many more.
Web: www.airwallex.com X: @airwallex LinkedIn: linkedin.com/company/airwallex
DAVID BIRCH
Welcome to ‘A-Commerce’
OpenAI recently launched ‘Operator’, an AI agent that can take control of a web browser to automate e-commerce. It is powered by a computer-using agent (CUA) model that combines the vision capabilities of OpenAI’s GPT-4o model with the reasoning abilities of more advanced models. What this means is that an agent doesn’t need an API to access services, it can use buttons and navigate menus just as people do. With the advent of CUA, we are now in the era of ‘agentic commerce’ (or as I prefer, ‘a-commerce’). Agents will go online to obtain services, look for an API connection and then, if no such connection is found, it will use the web just as human consumers do now. From there it is a small step to agents obtaining services from other agents, not via ‘traditional’ web interfaces or APIs at all! Agents will be paying other agents, bypassing our existing payment paths completely: true ‘a-commerce’ is coming! As it stands, Operator requires human supervision for certain categories of tasks including, as I am sure you would expect, financial transactions, so that consumers currently need to take back control to enter payment information and complete transactions. But this is an interim step that is only needed because we lack the digital identity infrastructure needed to allow fully autonomous transactions. This is crucial, because ultimately the issue of
liability means that agents will need digital identities, to develop their own reputations and of course audit trails for when things go wrong. Agentic transactions will proceed on the basis of authorisation: when an agent shows up at my bank, for example, and asks to transfer money then the bank needs to identify the agent and then discover whether the agent is authorised to execute the specific transaction. This could be done by having a database of agents and their permissions, but a much better way to do it is to require the agent to present the relevant credential. That credential will contain the public key of the agent, signed with the private key of a bank within whatever framework is being used. Since my bank knows the public key of the other bank it can easily check if the credential is authentic. Big Tech, then, is going to give customers their own agents and it is inevitable that many customers (eg, me) will be only too happy to hand over a great many decisions around financial transactions over to agents, meaning that while I will remain the ultimate customer of the financial institutions, agents acting on my behalf will be the consumers of those institutions’ financial services. What will these AI consumers want? I keep returning to this question, partly because I do not know what the answer is and partly because I think it
is an area of strategic importance (and existential threat) for financial institutions as well as an area of potential opportunity for fintechs. This, then, is a key strategic challenge for 2025: how do you make your services attractive to an AI that doesn’t watch your Super Bowl adverts, doesn’t visit your branches and doesn’t care that you sponsor a Formula 1 team?
AT A GLANCE
David G. W. Birch is an author, advisor and commentator on digital financial services. He is an international keynote speaker and recognised thought leader in digital identity and digital money. David is principal at his advisory practice 15Mb Ltd. and global ambassador for Consult Hyperion, the consulting arm of Fime. He is non-executive chairman of Digiseq Ltd and holds a number of other board-level advisory roles with companies including OneID, PaymentWorks, Au10tix and KYP – Know Your Partner. Dave is also a senior research fellow in the Qatar Centre for Digital Finance at King’s Business School in London, a Forbes contributor and a columnist for Financial World. Website: dgwbirch.com BlueSky: @dgwbirch
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LAURA McCRACKEN
INDUSTRY CONVERGENCE: ALL ROADS LEAD TO THE CUSTOMER By Laura McCracken , Board director – fintech, payments & platforms
The financial technology and payments sector is evolving at a remarkable pace. Remaining static in this industry equates to falling behind. The growth of embedded finance is blurring traditional industry boundaries. Looking ahead, the convergence of retail, big tech, mobile, and financial services will shift business dynamics, customer loyalty and regulatory frameworks. At the core of this transformation is the mobile wallet, which is redefining how individuals engage with commerce and manage their finances. Payments are the ‘glue’ connecting these sectors, while digital identity will serve as the essential foundation underpinning this ecosystem. Mobile wallets have become ubiquitous, offering a convenient and secure means of conducting transactions. With the widespread adoption of smartphones, mobile wallets enable easy access to funds, money transfers, shopping and services like travel booking, ride hailing and food delivery. Integration with social networks will facilitate peer-to-peer payments, gifting, and social commerce, further contributing to the rise of the creator economy. Moreover, mobile wallets, coupled with digital identity, will enhance financial inclusion by connecting unbanked populations to the formal financial system, thereby allowing broader participation in the global economy. Central to this ecosystem is the concept of digital identity. In an increasingly blurred online and offline world, establishing a reliable and secure digital identity is crucial for user verification and
facilitating transactions. By leveraging technologies such as blockchain and biometrics, financial institutions can offer customers a secure digital identity that enables safe navigation through the digital marketplace. Digital identities provide multiple benefits for customers, including enhanced security, personalisation, identification, and trust. For businesses, digital identity solutions streamline customer service and onboarding processes, which are particularly challenging for financial services, telecom, marketplaces, travel and social media platforms. However, digital identity remains a debated topic in Europe, the UK and North America due to ongoing privacy concerns. As people spend more time interacting and transacting on platforms like Meta, Amazon, TikTok and Google, verifying credentials, identifying bots and protecting users become critically important. Beyond the convergence story, the development of emerging technologies presents significant opportunities for the payments industry. Artificial intelligence is poised to transform fraud detection, while blockchain technology offers the potential to enhance transaction transparency. Furthermore, as we advance from open banking to open finance, and ultimately to open data, customers will be empowered to manage their own data to optimise their financial situations. These technologies not only promise to significantly improve efficiency within the financial services sector but also aim to provide a more secure, efficient and user-friendly experience for both merchants and consumers.
The payments ecosystem is on the cusp of significant transformations. The convergence of financial services, commerce and mobile wallets is changing how we view and use money. Payments hold this new ecosystem together, while digital identity ensures stability and trust. Our success depends on balancing innovation with user protection, making sure the digital finance revolution benefits everyone. The future promises a more interconnected, efficient, inclusive and equitable financial landscape.
AT A GLANCE
Laura brings 30 years of international leadership through her career with Accenture, Meta, Amazon, Citi and American Express.
She advises fintechs, retailers and platforms on payment strategy, specialising in mobile wallets, marketplaces, super apps, social commerce and the creator economy. Laura also serves as chair for GuavaPay and has served as an independent NED on several regulated financial services boards. She is an advisory board member of The Payments Association (TPA), Chair of Judges for the Pay360 Awards, and Ambassador to Merchant Payment Ecosystems (MPE). She is a frequent speaker at Platform Leaders, Money 20/20, MPE, Financial Times , Shop Talk and Pay360. e: Lmccracken@blackheathadvisors.com in: linkedin.com/in/lauramccracken t: +44 776 456 1414
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BPC is a proven industry leader that is shaping the world of transactions with quick, safe and easy payment processing. With a focus on exceptional technology development and customer service, BPC helps financial institutions and businesses to deliver innovative and best-in-class
proven solutions that fit with today’s consumer lifestyle when banking, shopping, or moving in both urban and rural areas. With more than 500 customers across 140 countries, BPC collaborates with all ecosystem players to deliver services for the digital world. Its core product SmartVista suite comprises cutting-edge banking, commerce, and mobility platforms that enable
innovative solutions for digital banking, ATM and switching, payments processing, card, and fraud management, financial inclusion, merchant portals, transport, and smart cities. To find out more about how BPC can help businesses deliver a seamless payments processing experience to consumers, please visit www.bpcbt.com
X: @BPC_SmartVista Web: www.bpcbt.com/en/ Facebook: www.facebook.com/BpcBankingSolutions LinkedIn: www.linkedin.com/company/bpc-banking-technologies
Brite Payments is a second-generation fintech based in Stockholm. The instant payments provider leverages open banking technology to process account-to-account
With Brite, no signup or credit card details are required as consumers authenticate themselves with top-of-mind details using their bank’s usual identification method. Brite is connected to more than 3,800 banks within the EU and its offering is currently available in 27 European markets.
(A2A) payments in real time between consumers and online merchants.
britepayments.com linkedin.com/company/brite-payments
CURRENCY STREAM is a global foreign exchange company, delivering choice and certainty to consumers purchasing goods and services anywhere in the world. Currency Stream’s unique solution is used by its Partners to deliver DCC (Dynamic Currency Conversion) and MCP (Multi-Currency Pricing) to their customers, driving trust and certainty in currency transactions, across 120 currencies, with absolute clarity and transparency. By connecting the end-consumer to the live FX markets Currency Stream unlock the full value in the currency transaction for their Partners whilst providing a guaranteed price in the purchaser’s home currency at the moment of a transaction. Currency Stream removes the FX risk for all parties to the transaction and enables the purchaser to make well-informed value decisions. Web: https://currencystream.com LinkedIn: https://www.linkedin.com/company/currency-stream
SYMPHONY OF PAYMENTS ORCHESTRATION SETS THE STAGE. OPTIMISATION STEALS THE SHOW.
Payment orchestration is one of the biggest industry buzzwords right now, so naturally there are many payment companies claiming to provide orchestration services – and that’s before you even get to the specialist orchestrators who were built purely for that purpose. It’s no wonder there’s still so much confusion about what orchestration really is and how best to evaluate it. If you asked different people about what makes up a musical orchestra,
you’d get different answers too – some would name particular instruments, for instance, another might focus on the strings section, some will forget about percussion altogether, depending on their perspective. The same is true of payment orchestration – some providers may focus on the aggregation of APMs, some on routing capabilities and others on streamlining transaction flows. Realistically, it’s not the definition of orchestration that really matters. The only thing that does matter is
that merchants and payment providers get what they need, which is to innovate, deliver value for their customers and grow their business in a cost-efficient way. This is where we need to shift our thinking, to cut through the noise of the trend and focus on the value that orchestration should deliver – optimisation. Payment optimisation looks different for every business, although it’s often more about the balance of different priorities across critical areas such as
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