TRY FOR FREE

How Banks Are Disrupting Payments – Two International Models

There is an outstandingly large community of over 10,000 FinTech startups operating around the world – shedding international borders, democratizing remittances in the name of inclusion, facilitating inclusion through economic identity on the blockchain, and a lot more.

The FinTech startup community is very diverse and rich in ideas and solutions. We track around 50 FinTech sub-segments into which the 10,000+ startups fall, but there are only two categories continuously at the top of their game in terms of capital saturation and entrepreneurial activity – lending and payments. No wonder. The role models – Stripe, Square Cash, PayPal, M-Pesa, Alipay, and Venmo – opened the floodgates into the world of social payments and efficient e-commerce, demonstrating opportunities that technology brings into this segment. Let’s look at PayPal’s 2017 operating results for some numbers:

  • Active customer accounts of 227 million, up 15% with growth of 29 million net new actives

  • 7.6 billion payment transactions, up 24%

  • $451 billion in total payment volume (TPV), up 27% both on a spot and FX-neutral basis

  • 33.6 payment transactions per active account on a trailing 12-month basis, up 8%

Once the way was paved and proven to be lucra ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 7 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.

RECOMMENDED