FinTech Buzz: Your Weekly Dose of the Latest Developments

Key developments in the Fintech industry this week include:

  • Fawry and Hulul have teamed up to integrate payment systems using artificial intelligence, aiming to support small and medium-sized companies.
  • FreedomPay and Citi Retail Services have joined forces to offer consumers more choices at the point of purchase, through Citi Pay embedded digital payment products.
  • Car-rental and mobility solutions provider CarTrawler has partnered with Klarna, making Klarna’s flexible payment options available on numerous airline websites across 15 countries.
  • M2P Fintech has welcomed Goals101 into their fold, signalling a significant move towards redefining financial experience.
  • Paymentology has announced a partnership with FutureBank, an open banking and embedded finance platform powered by Global Kinetic, to streamline card issuing and processing technology.
  • Worldline has been granted a Major Payment Institution licence by the Monetary Authority of Singapore (MAS), enabling it to expand in Asia and enhance offerings for merchants.

Understanding current consumer behaviour and preferences is crucial for Fintech and digital payments companies in the ever-evolving digital landscape. To cater to these changing needs, financial institutions rely on interactive channels such as social media for crucial insights and to announce new developments. This article highlights the significant announcements made by notable players in the Fintech sector over the past week.

Fawry’s collaboration with Hulul aims to integrate Fawry’s electronic payment systems with Hulul’s services for digital transformation and artificial intelligence. This strategic alliance, supported by WideBot, a leading Arabic-focused conversational AI chatbot building platform, is intended to enhance the operations of small and medium-sized enterprises.

FreedomPay is leveraging its robust technology and Citi’s payments expertise in a strategic partnership with Citi Retail Services. This collaboration intends to provide a seamless, user-friendly experience for consumers and merchants alike by enhancing the customer journey through payment optionality and lending solutions at the point of sale.

CarTrawler’s partnership with Klarna is set to bring Klarna’s full range of flexible payment options to car rental bookings on various airline websites, including Vueling Airlines and TAP Air Portugal, among others.

Goals101 has joined M2P Fintech, presenting an exciting opportunity for innovation and marking a pivotal moment in their endeavor to redefine the financial experience.

Paymentology has teamed up with open banking and embedded finance platform FutureBank. Their joint objective is to provide banks and Fintech companies with streamlined integration to modern card issuing and processing technology, enabling the instant issuance of virtual cards.

Lastly, Worldline has secured a significant milestone in expanding its presence in Asia with a Major Payment Institution Licence gained from the Monetary Authority of Singapore (MAS).