Welcome to “Paydoo Picks”, the monthly Paydoo series where the team shares the key news, articles and developments from the past month in the payments industry.
In this dynamic and growing industry, there is never a dull moment and November has been no exception: from promises of new Tech capitals throughout Europe, to low-cost digital payments fuelling growth for merchants in Africa, November has been an exciting month.
Let’s explore November in the payments industry.
In this article from Sam Jones of The Guardian, Lisbon’s potential future as Europe’s next “Tech Capital” is explored.
Jones puts forward a convincing case for growth in the Portuguese capital, what makes the city attractive and the next steps that the Portuguese government can take to capitalise on this current popularity.
Next year is promising to facilitate further consistent growth in the use of mobile devices to navigate the web. In fact, 75% of internet use is going to be performed via mobile devices.
This article from Pymnts explores the implications that this trend will have on mobile payments, and why accepting payments of that nature are going to be more important than ever for merchants.
New growth is not restricted to the Portuguese capital: ACI Worldwide’s new state-of-the-art data centre is massive news for the city of Limerick in Ireland.
The expansion represents the healthy state of the payments industry and in addition to bolstering facilities to accommodate the EMEA’s demand for the company’s solutions, the job brings 50 new jobs to Ireland.
Facebook have made further steps into the ecommerce space with their recent introduction of the Marketplace. It appears as though this Craigslist-like platform is being given time to grow and develop organically before Facebook begin to integrate payments and delivery support. The way that this project develops throughout 2017 will be very intriguing to see, and could have unforeseen impacts on the wider payments industry.
This well-researched article explores Madrid’s future as a future FinTech hub, and how support from BBVA, one of Spain’s largest banks, could offer new opportunities within the city.
What’s more, the article outlines the “Immersion in Silicon Valley” programme ran by the Spain Tech Centre, and how this will have transformative effects on the FinTech landscape in Madrid.
Interesting payments developments are taking place in Africa: Visa, the global leader in payments, has partnered with Pan African bank, Ecobank, to create the new “mVisa” service.
Through the service, consumers can pay for goods and services for everyday expenses from bill payments to groceries and taxi services, by simply scanning a QR code on a smartphone or entering a merchant identification number into their feature phones
This project has the potential to have a large impact throughout the continent, and the Paydoo team are intrigued to see how the project continues to develop throughout 2017.
There you have it - the month of November in the payments industry. If there is a particular topic you would like to discuss or share your thoughts on, please feel free to reach out via our social media channels or contact us at [email protected].