Digesting the Digits – 79% of banks recognise benefits of embedded finance

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Number crunching is a key component of the payment industry, with digits scattered across the sector’s key stories. 

Each week, Payment Expert digests these digits and brings an overview of the past payments week in numbers. This edition looks at the growing interest from banks in embedded finance. 

Temenos reveals 79% of global banks recognise embedded finance as beneficial

Temenos has revealed that the majority of banks across the world see embedded banking as the way to move forward. 

In a market-wide research exploring the views of 300 international banks, Temenos found that 79% of all participants respond positively to the benefits embedded banking offers for consumers’ and businesses’ value chains. 

Moreover, one in five will soon begin offering embedded finance and banking-as-a-service (BaaS) through their own products and services.

Kanika Hope, Chief Strategy Officer at Temenos, commented: “The case for the public cloud is becoming more apparent, 51% of respondents agreeing that banks will no longer own any data centres due to the move to public cloud in the next five years.”

Temenos: Banks prepare for a global shift towards embedded finance

Mollie registers increasing BNPL use in 56% of EU customers

A new report by financial service provider Mollie has highlighted a rise in BNPL payments across its European customer base. 

The company used a data pool of 5,000 customers across several major European markets, including the UK, to mark a change in shopping habits that has resulted in 56% of shoppers now using BNPL services more than they did over the last 12 months. 

Ken Serdons, CCO at Mollie, used the results as a reason to point out that ecommerce businesses need to adapt to changing buying behaviours now more than ever due to the uncertainty of the economic landscape.

Mollie: BNPL purchases rise by 56% amid growing economic concerns

Solaris struggles with new €100m project

A report from the Financial Times has suggested that German fintech Solaris is currently struggling to meet partner demands for a new €100m project. 

According to the media outlet, German motor association ADAC commissioned the fintech to secure the funds in order to expand the former’s credit card issuing programme as part of a 10-year deal, however Solaris has fallen behind the deadline due to reluctant investors and worsening economic climate. 

Report: Solaris looks to raise funds as struggle continues 

Mastercard launches embedded car payments for 60% of Mercedes-Benz drivers

Mastercard has unveiled a brand new partnership with Mercedes-Benz that unlocks in-car payments for customers of the luxurious German car manufacturer. 

The push towards embedded payments in vehicles comes after a research by GfK commissioned by Mastercard revealed that 60% of drivers find the idea of paying for gas bills and electric vehicle charging directly from their car appealing. 

This reply is most prominent among people aged between 18 and 39, where half of the surveyed expressed their interest in ordering and paying for services directly via their vehicle’s infotainment display. 

Mastercard provides Mercedes with in-car fingerprint payments

Bulgaria blocks access to 150 gaming websites in September

According to the National Revenue Agency (NRA) of Bulgaria, more than 150 online gambling platforms have been ordered to cease operations in September alone due to missing licences. 

This follows tightening of restrictions on gaming operations in the Eastern European country after the NRA took control of the licensing process as a result of changes to the state’s gambling framework introduced back in 2020.

All websites ordered by the watchdog to stop their services were given a notice of three days to do so, after which, if still operational, the NRA can ask magistrates to require all internet providers in the country to block all access to the platforms. 

Bulgaria flags down more than 150 illegal gaming websites in September