Michele Mattei’s Post

Nubank moving into what appears to be the MVNO space. of course through partnerships by offering eSim to their customers as part of their move to enter the travel sector. The convergence is extremely interesting. but I am not too clear yet of the strategy other than to offer an additional means to target the sector. #digitalbanks #banking #cx #customerexperience

While several Australian banks are working to simplify their existing product offerings and feverishly working to implement what appears to be anything AI - their global counterparts are making customer connectivity a major priority. 🤳 According to TechCrunch: “Nubank is taking its first tentative steps into the mobile network realm, as the NYSE-traded Brazilian neobank rolls out an eSIM (embedded SIM) service for travelers. The service will give customers access to 10GB of free roaming internet in more than 40 countries without having to switch out their own existing physical SIM card or eSIM.” Travel is well and truly back on the agenda with drops in prices Aussies are taking to the skies in pre pandemic numbers. ✈️ While those staying grounded are still looking for any savings they can, like a better value monthly phone plan. 📲 So when you consider those two factors the Nubank approach would surely be a winner with bank customers down under. 🇦🇺 Would you stay loyal to your bank if it offered you a discounted branded mobile plan and an easy option to stay connected while travelling?🥰 It’s a resounding yes from us. And we do it Fastter ➡️ for more https://www.fastter.au #fastter #create #enable #grow #brandmvno

Beyond Banking is increasingly becoming interesting… Nubank is taking its first tentative steps into the mobile network realm, as the NYSE-traded Brazilian neobank rolls out an #eSIM (embedded SIM) service for travelers. The service will give customers access to 10GB of free roaming #internet in more than 40 countries without having to switch out their own existing physical SIM card or eSIM. The launch comes shortly after news first emerged that Brazil’s National Telecommunications Agency (Anatel) had quietly greenlit plans for Nubank to become a mobile virtual network operator (MVNO) in partnership with #wireless giant Claro Brasil While that plan remains in the early stages and Nubank hasn’t confirmed any of the launch details, it’s obvious that it’s at least #tiptoeing into the #mobile network sphere — a growing trend within the #fintech fraternity. Andrea Faggiano Riadh Marrakchi Mohammad Nikkar, PhD Mohammed Ghonaim Saleh ALhammad Saeed A. Assiri #beyondbanking #telecoms #brasil #innovation #depin

ToneTag's 'CUSP Network' revolutionises 'Digital Payments' with Innovation and Inclusivity: In the ever-evolving landscape of digital payments, ToneTag has emerged as a frontrunner with its latest groundbreaking innovation—the Contextual Unified Secure Payment (#CUSP) network. This cutting-edge product has swiftly propelled ToneTag to the forefront of the payment acceptance sector, marking a significant milestone in the realm of new-age digital payments. CUSP stands as a contextual, conversational, and edge-based proximity payment infrastructure designed to cater to the demands of contemporary digital payment methods such as #CBDC, #UPI, and contactless tokenized debit/credit cards. This innovative solution empowers merchant acquirers and payment aggregators to provide seamless payment acceptance for their partner merchants, ushering in a new era of convenience and efficiency. At its core, CUSP consists of two integral layers—the network layer and the payment orchestration layer. The network layer comprises smart Internet of Things (IoT) devices resembling soundboxes, equipped with the ability to generate unique location IDs within a store, facilitate contactless data transfer, detect proximity, and support conversational inputs. The payment orchestration layer acts as an intelligent switch, allowing users to choose from a variety of payment methods such as UPI, Hello UPI, CBDC, or contactless cards at the time of transaction. What sets CUSP apart are its three distinctive features: support for secure offline data transfer enabling contactless payments, edge computing to reduce dependency on server transactions for low-value transactions, and voice computing for an enhanced voice payment experience. ToneTag's success story is evident in the platform's remarkable growth—from 150,000 to 1 million merchant outlets within a single year. Notably, CUSP already supports the Reserve Bank of India (RBI) backed #CBDC, positioning itself as a transformative force in digital currency acceptance. As ToneTag continues to pioneer advancements in the digital payment realm, CUSP stands as an emblem of progress and inclusivity, promoting financial inclusion for all. The company's dedication to innovative solutions, with CUSP as a prime example, solidifies its position as a trailblazer reshaping the digital payment landscape. Ram Rastogi 🇮🇳 Kumar Abhishek Reserve Bank of India (RBI) Reserve Bank Innovation Hub (RBIH) National Payments Corporation Of India (NPCI) Mastercard Visa

Trend is reversed. Neobanks/fintechs are providing telecommunications services now. Nubank now provides e-sims for global roaming for its premium clients. Revolut did the same earlier this year as well. More fintechs will most likely follow. With the adoption of digital banking, telecoms were set to disrupt massively in the banking sector. Generally, telecoms have larger customer base compared to banks. Moreover, clients usually have one telecom provider and multiple banks. This situation made telecoms set to disrupt if they overcome regulatory limitations. Here is Saudi, the three major telecoms have financial arms. STC now has a bank. Mobiley has its digital wallet, and Zain has microfinancing company (tamam). All three companies penetrated the financial sector through transactional activities/services such as digital wallets with basic transfer services. Now fintechs are basically doing the same. They are getting into the telecommunication sector with transactional services such as global roaming services. This should pave the way for adopting wider range of services and potentially competing directly with telecoms. That's really interesting. I am curious if the leading fintech disruptors here at our region will explore this trend. I think a real and material convergence between financial services and telecommunication services is sooner than ever.

E-Wallet Market Share Expected to Grow by 23.40%, Reaching $489.3 Billion by 2030 📱 The e-wallet market is set to experience significant growth in the coming years, with a projected growth rate of 23.40%. According to a report by iCrowdNewswire, the market is expected to reach a value of $489.3 billion by 2030. Source: https://lnkd.in/dWY6JGCb 💳 E-wallets, also known as digital wallets, have gained immense popularity as a convenient and secure way to make online payments. These digital payment solutions allow users to store their payment information digitally and make transactions seamlessly, eliminating the need for physical cards or cash. 🌍 The increasing adoption of smartphones, coupled with the rise of e-commerce and mobile banking, has fueled the growth of the e-wallet market. With the convenience of making payments anytime, anywhere, e-wallets have become a preferred choice for consumers globally. 🔒 E-wallets offer enhanced security features such as encryption, biometric authentication, and tokenization, making them a safe and reliable payment method. This has boosted consumer confidence in using e-wallets for both online and offline transactions. 💼 The e-wallet market is seeing rapid innovation and collaboration, with various players entering the space, including tech giants, financial institutions, and fintech startups. These players are constantly improving their offerings by introducing new features such as loyalty programs, peer-to-peer transfers, and integration with other services like ride-hailing and food delivery. 🚀 Looking ahead, the e-wallet market is expected to witness continued growth as digital payments become increasingly mainstream. The ongoing digital transformation, coupled with the growing preference for contactless payments, will drive the adoption of e-wallets in both developed and emerging markets. 🌈 As businesses adapt to the changing payment landscape, integrating e-wallets into their payment systems will be crucial for providing a seamless and convenient payment experience to customers. #EWallets #DigitalPayments #MarketGrowth #MobileBanking #ContactlessPayments #Fintech #DigitalTransformation #Convenience #Security #Innovation

🚀 Exciting News in Fintech! Nubank, a leading Brazilian neobank, is breaking new ground by venturing into the mobile network space. 🌐📱 In a strategic move to enhance customer engagement and unlock new revenue streams, Nubank is integrating telecommunications services with its innovative financial offerings. This convergence reflects the evolving dynamics of the fintech industry, where boundaries between finance and technology continue to blur. Market analysis underscores the immense potential of this move, particularly in Latin America's burgeoning mobile market. By leveraging its established brand and customer base, Nubank is poised to capitalize on this opportunity, driving growth and differentiation in the competitive landscape. Financial projections paint a promising picture, with Nubank diversifying its revenue streams and mitigating risks associated with market fluctuations. As the fintech ecosystem evolves, adaptability and innovation remain paramount for companies seeking to stay ahead. https://lnkd.in/gshUH9VH #Fintech #Innovation #Neobanks #Telecommunications #LatinAmerica #MarketTrends #mvno

47% of FinTechs Enable Sending #P2P Payments ——————————————— FinTechs must make money mobility a top priority if they want to woo consumers away from traditional banks. While PYMNTS Intelligence’s data confirms FinTechs have made progress in meeting consumer expectations around instant payments, there is still room for improvement. In “FinTechs’ Instant Payment Mismatch,” a collaboration with Ingo Payments, we found that 47% of FinTechs enabled consumers to send peer-to-peer (P2P) transfers while 41% allow them to receive these transfers — increases of 10 percentage points for sending and 9 percentage points for receiving between Q3 2022 and Q2 2023. This progression is great news for FinTechs because data shows P2P transfers rank as the number one service consumers expect when using a #FinTech provider. However, the report — which is based on surveys with nearly 2,300 U.S. consumers and 150 FinTech issuers — also found that FinTechs would benefit by better aligning their services to the needs of their customers. While consumers are more likely to use FinTech providers that offer a wide array of fund transfer options and fast transactions, FinTechs tout convenience and customer experience as their top features. This could spell trouble if FinTechs don’t change course. This is not to suggest FinTechs aren’t making headway. As the chart below illustrates, FinTechs have adjusted the menu of the services they provide according to what their customers use. As mentioned, 47% of FinTechs enable sending P2P payments and 41% permit receiving them. Because those functions are top priorities for consumers, it’s understandable that 51% of consumers are now sending P2P #payments while 44% receive them. In contrast, FinTech issuers have scaled back on services their customers don’t use. For example, 2.5% of consumers said they used a FinTech’s financial consultancy. This could explain the decrease from 48% in Q3 2022 to 41% in Q2 2023 in FinTechs offering this service. Data confirms FinTech issuers are pivoting to meet consumer demand. Despite advances, providers seem to misunderstand what consumers really want. PYMNTS Intelligence found that not only do consumers want access to a wide variety of payment options, but they also expect prompt availability of good funds. Yet many FinTechs continue to extoll convenience and customer experience as their differentiators. FinTechs that correct such missteps and better align their features with what their customers are really looking for will most likely be those ones that continue to gain market traction.

💡 Top Payment Trends to Watch for in 2024 There was an about 4 percentage point decline in cash usage in 2022. From barter to cryptocurrencies, the payment industry has undergone significant transitions over the years. Now, McKinsey & Co suggests we might be in a “decoupling era” for the payments industry. Driven by the deepening penetration of instant payments and digital wallets, economies worldwide are transitioning out of cash rapidly. Divergent policies across the world are impacting the payments industry in multiple ways. For instance, the European market can be an important source of revenue because digital payments are a premium service in the region. On the other hand, India offers free transactions across digital wallets through a Unified Payments Interface. The global payments ecosystem is going through a major shift as digital currencies and instant payments, facilitated by declining costs and reduced margins, take over traditional transaction methods. Here are our insights on the top trends to watch out for in the payments industry in 2024. ⤵ #DigitalPayments #InstantPayments #CashlessPayments #Trends #CrossBorderPayments #2024

We saw the telcos come after banks with digital wallet propositions. Its time for the fintech disruptors to level up with an extremely interesting play. Nubank is taking its first tentative steps into the mobile network realm The NYSE-traded Brazilian neobank rolls out an eSIM (embedded SIM) service for travelers. The service will give customers access to 10GB of free roaming internet in more than 40 countries without having to switch out their own existing physical SIM card or eSIM. Brazil’s National Telecommunications Agency (ANATEL) had quietly greenlit plans for Nubank to become a mobile virtual network operator (MVNO) in partnership with wireless giant Claro Brasil Read more here (source TechCrunch): https://tcrn.ch/3Kk7Vor